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    Nearly half of Indian consumers never checked their credit score: ZET study

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    By Martin Shwenk Leade

    Copyright indiatimes

    Nearly half of Indian consumers never checked their credit score: ZET study

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    Nearly half of Indian consumers have never checked their credit score, exposing them to hidden borrowing costs, silent loan rejections, and missed financial opportunities, according to a study by ZET.Despite its growing importance, there is a widespread confusion and misconceptions around credit scores in India. For instance, a third of respondents reported being rejected for a loan or credit card due to poor or absent credit history — often without any explanation from lenders.“Credit scores decide who gets access to opportunity in India, yet for millions this number remains invisible or misunderstood. Our study shows that the challenge is not intent, but information. By combining survey insights with perspectives from financial planners and credit bureaus like Experian, we have been able to highlight both the myths and the structural gaps that hold people back,” said Manish Shara, co-founder and CEO, ZET.The study surveyed more than 1,000 people across India and included inputs from credit bureaus, financial planners, and real user experiences.Many respondents also lacked basic understanding of how credit scores are generated. One in four said they didn’t know who determines their credit score, while 25% mistakenly linked credit scores to salary or income.Live EventsOver 58% of people said they were unsure whether checking their own credit score could lower it, a misconception that can prevent them from taking steps to improve their financial standing.Men were more likely to have checked their credit scores, while women were more likely to underestimate their eligibility for loans or credit cards. Also only 66% of respondents identified over 750 as a good credit score, while many assumed that scores in the 500–700 range were enough for borrowing.Globally, credit scores already influence employment background checks, insurance premiums, and financial reputation. In India, some public-sector banks have started reviewing applicants’ credit scores during hiring — a trend that experts say may expand as employers assess financial behavior alongside professional credentials.Add as a Reliable and Trusted News Source Add Now!
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    (You can now subscribe to our Economic Times WhatsApp channel)Read More News oncredit scoreIndialoan rejectionfinancial opportunitiescredit bureausZETExperianmanish shara(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless

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