Half Of Indians Have Never Checked Their Credit Score, Finds Study | Banking and Finance News

Last Updated:September 21, 2025, 15:16 IST

ZET’s study finds nearly half of Indians have never checked their credit score, with myths and lack of awareness causing loan rejections and a gender gap in credit confidence.

Credit Score

Half of Indians have never checked their credit score, according to a new study by ZET, a credit score builder platform. The report, titled “India’s Credit Score Awareness Gap: The Hidden Cost of Not Knowing”, highlights how lack of awareness and misinformation is blocking access to financial opportunities.

The survey found that nearly 45% of respondents had never checked their credit score or weren’t sure if they had. This gap comes at a cost: 30% reported facing loan or credit card rejections due to poor or absent scores, often without being told the reason.

Basic knowledge of what makes a “good score” was also lacking. Only 66% of participants correctly identified 750+ as a strong credit score, while many believed a score between 500–700 was good enough. Alarmingly, 1 in 4 respondents thought income or salary directly determined their score, while another quarter admitted they didn’t know who actually generates it.

Myths and Misconceptions

One of the most persistent myths remains the belief that checking your own credit score reduces it. 58% of respondents were unsure about this, discouraging self-monitoring and proactive financial management.

Gender Divide in Confidence

The study also revealed a gender-based gap in credit behavior. Men were more likely to check their scores frequently, while women tended to underestimate their creditworthiness — a trend that reflects a broader confidence gap.

For new credit seekers, the absence of a history remains a major hurdle. Lack of prior credit records is among the leading reasons for loan and card rejections, the study noted.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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