New Delhi, Dec. 1 -- Your credit score plays a crucial role in how lending institutions and card issuers calculate borrowing costs. As financial institutions in the country have now started to strategically rely on data-driven risk assessments, a strong credit score, generally a score over 750, can assist in securing better credit card terms, conditions and interest rates.

Leading credit bureaus such as CIBIL, CRIF High Mark, Equifax and Experian provide customers with their updated credit scores. The basic range of credit scores provided by these rating agencies is between 300 to 900. Furthermore, any score below 650 is considered a weak credit score, indicating poor financial management.

Credit card interest rates in the country often...