New Delhi, March 10 -- Did you apply for a credit card and it was declined because of a poor credit score? Else, you want to apply for a personal loan and realised that your credit score is too poor to make the cut.

If that is the case, be aware that you are not alone. There are a large number of users who face this problem of either poor credit score or a bad credit score.

There could be multiple reasons for this. Here we list out the key reasons for this.

I. Lack of financial literacy: Many people are unaware of how credit scores work, how they impact financial opportunities, or even that they exist. Some people have misconceptions that having no credit is good. This prevents individuals from actively building a credit history.

II. ...