Check quarterly to spot repayment lapses, errors and fraud

A recent survey by Paisabazaar across 710 cities found Delhi to be the most credit-healthy city, with the highest average credit score of 746, followed by Pune, cities of Kerala, and Chandigarh.

- SANJEEV SINHA

If you have not checked your credit score recently, do so. If it is low, examine your credit report in detail.

A score of 750-800 or higher indicates a strong repayment record. "If your score has fallen below 700, go through your credit report carefully to identify the reasons," says Deepak Kumar Jain, founder and chief executive officer (CEO), CredManager.in.

What a credit report reveals Reviewing your credit report once every three to four months helps you understand why your score is low. "A credit report provides detailed insights into delays, missed EMIs, or defaults, which may have adversely impacted your score, allowing you to take the required corrective action," says Raoul Kapoor, co-CEO, Andromeda Sales and Distribution.

Regular monitoring of the credit report also leads to spotting other issues that may be pulling down your score. "It will enable you to detect errors, inaccuracies and even fraudulent activities," says Radhika Binani, chief product officer, Paisabazaar.