A credit score is a three-digit number that gives information on your credit-repaying history. This score gives banks and non-banking financial companies (NBFCs) an idea about whether a borrower is likely to repay his/her debt or not and hence, whether they should lend to the individual or not.

An individual who has a good credit score, you are more likely to get a loan vis-à-vis a person with a bad credit score.

A credit score ranges from 300 to 900 with 300 being the poorest credit score while 900 is considered an excellent credit score.

Technically, from lending point of view, 750-900 is considered a good and safe credit score.