New Delhi, March 6 -- In the current fast-paced world, youngsters, particularlyGen-Z, are expected to recognise the significance of building and maintaining a good credit score. While most young adults prefer using debit cards or digital wallets to avoid debt, ignoring the significance ofcredit score can have long-term consequences.

These are some of the key reasons for which Gen-Z needs to be more credit-conscious.

I.For a strong financial future: A good credit score is vital for major financial milestones such as buying a car or securing a mortgage. Establishing credit early helps in getting better loan terms in the future.

II.Lower interest rates on loans: Banks use credit scores to determine interest rates. A high credit score can ...