Your credit score may fail you — even if you don’t

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Credit scores can shape lives, yet the system remains opaque, error-prone, and hard to challenge. Increasingly, people are discovering how little control they have over a number that decides loans and more

It’s just a number between 300 and 900, but it’s one that has profound implications in your life, whether you know it or not. This string of three digits not only decides whether you get a loan to own a house or car, it could soon even determine whether you land your dream job… or maybe if you’ll even get healthcare service of your choice.
Welcome to the world of credit reports, where everyone is a number, based on their — perceived — ﬁnancial health. Your

credit report score

is supposed to tell lenders how risky it is to extend credit to you: the lower the score, the higher the risk. The calculation of this score is done by credit information bureaus (CIBs), based on your credit history. There are four CIBs operational in India: TransUnion

CIBIL

, Experian, Equifax, and

CRIF

High Mark.

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