Having a good credit score shows that you are financially healthy and a reliable borrower
After retirement, you can continue to enjoy various credit facilities from banks, such as a personal loan, car loan, and so on if you have a good credit score.
Having a good credit score can also help seniors become co-borrowers in a loan with their close relatives.
Credit bureaus typically assume that an individual making too many loan enquiries is either credit-hungry or not in a good financial shape.
Timely repayment of credit card bills shows that you are capable of repaying the debt on time, and it improves your credit score in the long term.
Make sure you repay every remaining equated monthly instalment (EMI) on time. Timely repayment of a loan EMI can help in improving your credit score.
Review your credit report daily and get the discrepancies, such as wrong address etc. immediately rectified by the bureau.