{"id":5062,"date":"2019-03-16T08:13:00","date_gmt":"2019-03-16T08:13:00","guid":{"rendered":"\/blog\/?p=5062"},"modified":"2024-12-31T16:56:04","modified_gmt":"2024-12-31T11:26:04","slug":"removing-some-myths-about-credit-worthiness-loans","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/","title":{"rendered":"Removing Some Myths about Credit-worthiness & Loans"},"content":{"rendered":"\n

Do\nyou know what is the easiest way to judge someone\u2019s creditworthiness? The\nanswer is Credit scores. It tells lenders about a person\u2019s past behavior when\nit comes to taking loans or repaying debt.<\/p>\n\n\n\n

Know More About Personal Loan<\/a><\/div>\n\n\n\n

This is the reason that credit score plays an important role when you apply for a credit card or a personal loan<\/a>. Both of them are unsecured borrowings where lenders do not have any access to collateral. So in case of default, there is no recourse. Only your credit history (credit worthiness) is what lenders rely on.<\/p>\n\n\n\n

But\npeople have a lot of confusion about their credit history and how it impacts\nborrowings. Lets try to clear some of these myths:<\/p>\n\n\n\n

Myth\n1: Won\u2019t get a Loan if you don\u2019t have a Credit History<\/strong><\/p>\n\n\n\n

It\nis possible to get loan without even a credit history. Though there will be\nsome limitations about the amount of loan or your credit limit on the card. But\nit is still possible to get a small loan. This in turn will help start your\ncredit history.<\/p>\n\n\n\n

Myth\n2: My credit score will be high if I never take a loan.<\/strong><\/p>\n\n\n\n

Having\nsome outstanding credit helps your score if you can keep repaying on time. On\nthe other hand, if you have cleared off all your loans, it is possible to be\nperceived, as you are unable to manage credit! As odd as this may sound, it is\na fact. But this should not stop you from clearing your loans.<\/p>\n\n\n\n

Myth\n3: Once a poor credit score means it will remain poor forever.<\/strong><\/p>\n\n\n\n

The score is neither constant nor fixed. Credit scores<\/a> are recalculated regularly. So any new piece of information that might impact it, is considered during recalculation. If you repay on time, get new credit cards, etc., then all this will have a bearing on your credit score. <\/p>\n\n\n\n

There are a lot of myths about credit scores and how they impact loans and vice versa. As a borrower, it makes sense to clear your doubts about credit scores at the earliest.<\/p>\n\n\n\n

Apply for Personal Loan Now<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Do you know what is the easiest way to judge someone\u2019s creditworthiness? The answer is Credit scores.<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":5063,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-5062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-use-loan"],"yoast_head":"\nRemoving Some Myths about Credit-worthiness & Loans - TATA Capital Blog<\/title>\n<meta name=\"description\" content=\"Credit score simplified! Learn what truly impacts your score.Clear top 3 myths about creditworthiness, gain insights for smarter money management for maintaining financial security.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Removing Some Myths about Credit-worthiness & Loans - TATA Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Credit score simplified! Learn what truly impacts your score.Clear top 3 myths about creditworthiness, gain insights for smarter money management for maintaining financial security.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-16T08:13:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-31T11:26:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/01\/credit-worthiness.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"422\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/\",\"name\":\"Removing Some Myths about Credit-worthiness & Loans - TATA Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2019-03-16T08:13:00+00:00\",\"dateModified\":\"2024-12-31T11:26:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Credit score simplified! Learn what truly impacts your score.Clear top 3 myths about creditworthiness, gain insights for smarter money management for maintaining financial security.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tatacapital.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Removing Some Myths about Credit-worthiness & Loans\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/\",\"name\":\"TATA Capital Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\",\"name\":\"Tata Capital\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"caption\":\"Tata Capital\"},\"sameAs\":[\"https:\/\/tata-blog.osian.dev\/blog\"],\"url\":\"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Removing Some Myths about Credit-worthiness & Loans - TATA Capital Blog","description":"Credit score simplified! Learn what truly impacts your score.Clear top 3 myths about creditworthiness, gain insights for smarter money management for maintaining financial security.","robots":{"index":"noindex","follow":"nofollow"},"og_locale":"en_US","og_type":"article","og_title":"Removing Some Myths about Credit-worthiness & Loans - TATA Capital Blog","og_description":"Credit score simplified! Learn what truly impacts your score.Clear top 3 myths about creditworthiness, gain insights for smarter money management for maintaining financial security.","og_url":"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/","og_site_name":"TATA Capital Blog","article_published_time":"2019-03-16T08:13:00+00:00","article_modified_time":"2024-12-31T11:26:04+00:00","og_image":[{"width":770,"height":422,"url":"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/01\/credit-worthiness.jpg","type":"image\/jpeg"}],"author":"Tata Capital","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tata Capital","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/","url":"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/","name":"Removing Some Myths about Credit-worthiness & Loans - TATA Capital Blog","isPartOf":{"@id":"https:\/\/www.tatacapital.com\/blog\/#website"},"datePublished":"2019-03-16T08:13:00+00:00","dateModified":"2024-12-31T11:26:04+00:00","author":{"@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a"},"description":"Credit score simplified! Learn what truly impacts your score.Clear top 3 myths about creditworthiness, gain insights for smarter money management for maintaining financial security.","breadcrumb":{"@id":"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/removing-some-myths-about-credit-worthiness-loans\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.tatacapital.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Removing Some Myths about Credit-worthiness & Loans"}]},{"@type":"WebSite","@id":"https:\/\/www.tatacapital.com\/blog\/#website","url":"https:\/\/www.tatacapital.com\/blog\/","name":"TATA Capital Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a","name":"Tata Capital","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","caption":"Tata Capital"},"sameAs":["https:\/\/tata-blog.osian.dev\/blog"],"url":"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/"}]}},"featured_image_url":"https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/01\/credit-worthiness.jpg","_links":{"self":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/5062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/comments?post=5062"}],"version-history":[{"count":5,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/5062\/revisions"}],"predecessor-version":[{"id":37850,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/5062\/revisions\/37850"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media\/5063"}],"wp:attachment":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media?parent=5062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/categories?post=5062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/tags?post=5062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}