Poor quality data, late reporting causing trouble with credit scores

There are quite a few problems with the credit score

The credit score ranges from 300-900 and measures the probability that a customer will default. It is designed to decide whether you will get a loan and at what interest rate. Everything like a credit card or a home loan is dependent on your credit score and, hence, it is imperative that the scores are calculated and reported correctly.

The credit score is calculated based on the credit history of an individual over past 24 months. The score is dependent on a combination of factors like credit utilisation; type, amount and duration of credit facilities availed; month-on-month credit payment behaviour;