Repaying loans on time alone won’t ensure good credit score
Everybody knows that defaulting on a loan will automatically bring down one’s credit score. But people are not aware that there many other factors such as delayed reporting of data by banks, identity theft by fraudsters, guaranteeing a loan that has gone bad, and so on, can have an equally adverse impact on the creditworthiness of an individual. Sure, you can control only some of these issues. However, you can also take remedial steps by being proactive.