How to be in the good books of credit rating providers? Check here 
Personal Finance 
A person’s credit score is an important factor in their financial health, and a drop in credit score can lead to higher interest rates, lower credit limits, and loan or credit application rejections.
Making timely payments, checking credit reports for errors, maintaining a low credit utilisation ratio, and other factors can improve one’s credit score.
The most important factor in determining a credit score is payment history, making up 35% of the FICO score calculation.
Missing payments, having a high credit utilization rate, and closing credit card accounts can all negatively impact a credit score.
Paying off installment debt, such as a mortgage or student loan, can also cause a credit score to drop due to loss of credit accounts.
A 100-point drop in credit score can mean being denied for loans and credit cards and facing higher interest rates on mortgages.
Low and high-risk consumers are treated differently in terms of credit score, with high-risk consumers suffering a more drastic drop for the same negative credit event.
Regularly monitoring one’s credit report is important to identify and address inaccuracies in a timely manner.
Negotiating with lenders and card issuers may result in lower interest rates and more flexible loan terms.
Click here to know more about how to be in good books of credit rating providers. 
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