Credit Score Drops Despite Timely EMIs? Common Reporting Errors

• Credit scores are crucial for loan eligibility and interest rates, with good scores typically above 750.
• Errors in credit reports, such as data entry mistakes, misspellings, or mismatched PAN numbers, can negatively impact your score.
• Delayed bank updates can cause timely EMI payments to be reported as late, lowering your credit score.
• Loans remaining active on reports after clearance or duplicate entries can falsely inflate credit utilization or indicate identity theft.

Why It Matters: Errors can unfairly lower your credit score, impacting loan eligibility and rates.