New Delhi, July 1 -- In recent times, the importance of a high credit score has grown exponentially. Due to regulatory changes and stricter lending norms, a strong credit score and a healthy credit profile are no longer optional. They are, in fact, essential for getting personal loans, credit cards, and even securing favourable interest rates on various other credit products.

The Reserve Bank of India (RBI) recently introduced mandates for lenders to update credit bureau records every 15 days, aiming to promote transparency and accountability in the system. This simply means that both positive and negative financial behaviours are reflected much faster than earlier. This makes it important for borrowers to avoid habits that can instantly...