Have you ever wondered why banks say yes to one person’s loan application and shake their heads at another? Well, one of the key ingredients in this mystery is a credit score! When you hear loan approval, credit cards, or anything else related to borrowing money, do you have any idea what a credit score or CIBIL score is? Why is it that banks and financial institutions take it seriously before approving a loan? And most importantly, what does it have to do with you? Don’t worry; there’s nothing to lose in understanding what your credit score says about your financial life, even if you are not planning to take a personal loan or a car loan. But to start with, here’s a little guide on the credit profile and why it is important CREDIT SCORE A credit score is a 3-digit number that shows your ability to pay back a loan based on the borrower’s credit history. In layman’s terms, a credit score is your financial reputation. Say, for instance, one friend pays all...