1 month, 2 weeks ago

How credit scores can make or break your chances of securing a loan

In today's financial landscape, a loan is generally granted based on an applicant's credit score, a three-digit number that ranges from 300 to 900, with 900 being the best. A higher credit score not only improves the chances of loan approval but also determines the interest rate and repayment terms offered by the lender. Additionally, credit scores promote financial discipline, encouraging responsible borrowing and timely repayment, thereby supporting long-term financial well-being. A high credit score enhances loan eligibility, reduces borrowing costs, and enables better financial planning.

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