Don't you get a loan? You can also believe that these 5 misunderstandings associated with creditworthiness

Last updated: June 23, 2025, 23:31 IST credit values ​​can stop your loan. If you avoid these myths and adopt smart credit habits, your loans and financial health will be strong. The tendency of credit cards in the country is increasing. Highlights myth- The score falls by checking your score. Myth- it’s okay to close old credit cards. Myth loan is being repaid quickly, the score will now increase. New -delhi. Many people feel that only a good salary or repayment of loan is in time for loans approval. But in reality, some misconceptions associated with creditworthiness may be the reason to reject your loan application. Let us know 5 myths related to creditworthiness, which harm your loan approval. Myth 1. More salary = Good creditworthiness Truth: Creditworthiness is not good with more income. The bureau also sees your credit history, credit mix, account payments habit and credit consumption ratio. Myth 2. The score falls by checking your score, the truth: If you check the score yourself, it is a soft investigation and it does not affect the score. Hard examination such as repeated checks by the bank can affect the score slightly. Myth 3. The closure of the old credit card is true: it makes the credit history smaller and increases your credit use ratio, which can reduce the score. Myth 4. The loan is repaid quickly, the score will now increase the truth: It is good to complete the loan, but regular and timely payments habit is more important. Myth 5. Credit history is not, which means I am responsible for the truth: Without credit history, banks are unable to decide whether or not you are reliable to repay the loan. Pay 5 smart tips EMI and credit cards on time to improve creditworthiness. Keep the credit consumption ratio less than 30%. Maintain old credit accounts. At the same time, avoid various loan applications. Check the credit report regularly and let it be corrected if there is an error. Over the past five years, author Vinoy Jha has been working as a senior copy editor in News18hindi after starting his career with print media. Business News Team has been part of the team for almost 2 years. He has a decade of experience in journalism. … Read more, after the past five years have started a career with print media, there is a senior copy editor in News18hindi. Business News Team has been part of the team for almost 2 years. He has a decade of experience in journalism. … Read more location: New -delhi, Delhi Homebusiness loan is not available? You can also believe that these myths are related to this 5 creditworthiness