New Delhi, June 23 -- Many borrowers in the country still misunderstand how credit scores work. This leads to doubts and myths that may silently influence their chances of seamless loan approvals.

A commonly prevalent myth is that high income guarantees a positive credit score still, it is important to keep in mind that bureaus also consider credit mix, repayment history, credit utilisation and overall profile.

Another myth is, checking your own credit score lowers it. Truth is different, self checks are simply soft inquiries and have no impact. Only repeated lender checks i.e., hard inquiries can result in a brief dip in an individual's credit score.

Adding to the same, Manish Shara, Co-founder and CEO, ZET says, "Many still believe c...