A credit score is a significant three-digit number that talks about our financial health. It is essential for an individual to maintain a good credit score because firstly it is the eligibility check for loans. A high credit score gives you the ticket to be eligible for getting loans and credit cards. A good credit score is suggestive of a healthy repaying habit, which makes you available for a loan. Secondly, at the time of taking a loan, someone with a good credit score can quickly negotiate for a lower interest rate.
Thirdly you can quickly get a credit card with a higher limit based on a good credit score. And Finally, your credit score also plays some role in the visa approval process, along with your income and tax declarations.
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