New Delhi, June 12 -- A credit score of over 800 is widely admired and regarded as excellent in the country. It is often associated with smooth loan approvals and lucrative interest rates. Still, numerous borrowers with stellar credit scores face loan rejections. This leaves them puzzled and frustrated.

That is why it is important to understand the basic reasons, expert insights along with several crucial factors beyond the three digit number that influence the decisions of financial institutions.

A high credit score i.e., a score of 750 or more signals strong creditworthiness. Still, it is not a guarantee that your submitted loan application will definitely be approved.

Financial institutions carefully scrutinise multiple aspects of y...