New Delhi, June 13 -- As more borrowers in the country become credit conscious and monitor their credit scores, myths and speculations about what truly influences creditworthiness continue to circulate. Today as things stand due to rapid increase in personal loan defaults, credit awareness is at an all time high. Yet misconceptions persist, often leading to unnecessary anxiety along with poor financial decisions.

Several Indians, especially first time borrowers, still believe that factors like income level, marital status, or even checking their own credit score can negatively impact it. That's far from the truth.

"Many first-time borrowers wrongly think income, marital status, or checking their own credit score affects their rating. In...