New Delhi, March 12 -- Maintaining a healthy credit score is important for securing loans and credit cards at favourable and easy interest rates. Still, missing even a single EMI can immensely impact your credit score in a negative way.

Potentially dropping it by 100 points or even more. That is why understanding how to deal with this kind of damage is essential for your financial stability.

A single error or a missed Equated Monthly Instalment (EMI) on your credit card can lead to a substantial decline in your credit score. Do remember, payment history accounts for about 35% of your credit score, thus making timely payments critical for your overall credit profile.

For example: A 30-day delay in EMI payments can result in a decline of...