A CIBIL score or credit score is a three-digit number ranging from 300 to 900. It reflects how well or improperly a person has dispensed his/her loans or credit cards in the past. It plays a very important role while applying any kind of loan may be home, vehicle or personal. It is one of the important tools that lenders or banks keep in mind while passing any loan application form.
However, misconceptions about credit score among individuals continue to exist. Scroll down and read this blog, to know 5 common myths and misconceptions surrounding credit score: