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A credit score is a three-digit number that represents your creditworthiness. Banks use this score to decide whether to approve your loan or credit card application.
A higher credit score increases your chances of getting loans at lower interest rates.
How to Improve Credit Score:
- Pay EMIs on time
- Avoid multiple loan applications
- Maintain low credit card usage
- Check credit report regularly
Maintaining a good credit score helps in long-term financial stability.