New Delhi, April 29 -- A credit score of 580 is generally considered subpar, that is, below the usual standard, in India. This can hinder access to favourable loan terms, credit cards and other premium credit products.

However, with strategic financial planning and the development of sound money management habits, borrowers can significantly improve their credit scores within a few months

According to Sameer Mathur, MD and Founder of Roinet Solution, "One of the most effective and reliable ways to improve a low credit score, such as 580, is by taking a secured credit product like a gold loan. Since gold loans are backed by collateral, they are easier to obtain even with a low credit score and can help rebuild credit when repaid consiste...