New Delhi, Oct. 3 -- Have you ever thought if there is a connection between your income and your credit score? Against a commonly held perception, there is no direct link between the two.

Although higher income definitely raises your potential to repay your bills and loan EMIs on time, thus impacting yourcredit score indirectly, it does not have any direct bearing on the score.

Let us understand this in detail here.

I. Factors determine credit score: Key factors which determine credit score are the payment history, amounts owed, length of credit history, new credit, and credit mix.

However, with higher income, an individual's ability to handle higher loans increases, which positively impacts the credit score. This is a correlation, al...