7 common credit score myths you should know about

A credit score is a vital measure of your creditworthiness, reflecting how well you manage your finances. Lenders use it to assess your repayment behaviour and financial reliability. A score of 750 or above is generally considered good, unlocking access to the best loans and

credit cards at attractive rates. A low score, however, can lead to high interest rates or outright rejection, limiting your options. Despite its importance, credit scores are often misunderstood. Here are seven common myths that can mislead borrowers.

Myth 1: Checking my score often will lower it

Many avoid checking their credit score, fearing it will drop. A recent study, covering over 1,000 respondents across Tier I–III cities, found that 45% had never checked their score, and 75% of them understood the concept