New Delhi, June 24 -- If you are planning to raise a personal loan and happen to have a poor credit score, the chances are that your loan application will be declined. Even if it is approved, the interest rate would, invariably, be relatively higher. Typically, banks check a borrower's credit score before taking a decision over its loan.

And when the credit score happens to be anywhere between 600 to 650, the bank charges a higher rate of interest.

1. Poor payment history: When you miss a payment or two, your payment history tends to suffer. This usually leads to an adverse impact on credit score.

2. Errors in your report: When there is an error in your credit report, this could reflect in your credit score, albeit wrongly.

3. Lack of...