Your credit score is an important eligibility criterion for acquiring a bank loan or a credit solution. The credit score acts as a first impression on the institution – a high credit score increases your chances of availing their services whilst a low credit score can make it more difficult to get approval on your loan. Information on credit score on all borrowers is provided by Credit Information Companies (CICs) to financial institutions, through a report called Credit Information Report (CIR) when requested. Your credit history and credit worthiness is assessed by any financial Institution through this report when you apply for a loan or credit card.