CIBIL score is one of the essential factors that helps in determining the approval or denial of your credit application. While a good credit score can make it relatively easier for you to get a credit card or loan, a poor CIBIL score can be a major hindrance for those who are urgently looking for credit. A good credit score can also help in getting loans at relatively lower rates of interest and credit cards with extra benefits.
Most lenders do not approve credit applications of applicants having a poor credit score (600 or below). Even if a loan application is approved, the applicant has to pay the interest at a higher rate. If you have a poor CIBIL score and want to improve it to become creditworthy then you should follow some points diligently.