You don't need a credit card to build a credit score

Over the past few years, #finfluencers have been pushing people to get a #CreditCard just to build a #CreditScore.
The debate even reached #Parliament recently, where the #FinanceMinistry had to clarify: First-time borrowers can still get loans without any credit history!

Here’s the reality:
A credit score ranges between 300–900
750+ is considered a healthy score
If you’ve never borrowed, your score is simply -1
A credit score is just one factor banks look at
Income level, age, location, type of employment, and assets offered as security often matter much more.
Each bank weighs these differently, so being rejected by one lender doesn’t mean you won’t get a loan elsewhere.
In today’s market, borrowers have plenty of options — PSU banks, private banks, NBFCs, fintech lenders — all with varying criteria.

If you already have a credit score and want to improve it, the simplest way is always to pay the total due amount before the due date. Additionally, Credit Information companies like CIBIL need to compulsorily provide one free Credit Report annually. One can also check the credit reports periodically, through various apps like #OneScore, #GPay, #Cred for free. These are generally refreshed every month.

Have you ever been rejected for a loan? Did you happen to find out the actual reason for the same? Was it the credit score, income stability, or something else?