No credit history? Here’s why not having a CIBIL score can become a major problem when you apply for loan or credit card

If you have never taken a loan or used a credit card, chances are you may not have a credit history at all. If you have never taken a loan or used a credit card, your credit report may not exist. AdvertisementLoan approval becomes difficultAbsence of a credit score does not automatically mean your loan application will be rejected. Building a CIBIL score is easierCreating a credit history does not require large loans. Responsible credit usage over time gradually builds a healthy CIBIL score, making it easier to access loans and other credit facilities when needed.