Credit Scores in India
Common Credit Score Myths
Checking your own score does not hurt it, income does not directly determine it, and carrying a balance does not improve it.
Separating fact from fiction.
Soft enquiry
Checking your own score is a soft enquiry and does not reduce it.
Income
Income is not a direct input, though it influences your ability to repay.
Carrying a balance
Paying interest by not clearing the bill doesn’t improve your score.
Closing accounts
Closing a card can reduce your available credit and shorten history.
A false belief
A customer believes paying interest 'builds' credit and pays more than needed.
Believing myths without checking
Rely on official guidance.
Key takeaways
- Checking your own score is safe.
- Income is not an input.
- Interest doesn't build credit.
- Closing accounts can hurt.
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