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Cricket and Credit Score - Same Story, Different Playing Fields

There is much in common between cricket and credit score – discipline, planning, consistency, to name a few. Read here about the lessons cricket has to offer on maintaining your credit score.

February 07, 2022 / 11:12 AM IST

From the World Cup to the ODI series to IPL, there is no shortage of cricketing action in our land that considers cricket as a religion.

But did you know that this sport offers more profound insights into the practical world that goes beyond its entertainment value? Of course, you may know how it cultivates team spirit and promotes smarter strategies. But did you also know that it can influence financial discipline, particularly your credit score?

Stunned?

Here’s everything about credit score that you can learn from cricket:

(Credit) Health is Wealth

We all know about Sachin Tendulkar’s tennis elbow, Zaheer Khan’s debilitating hamstring injury, or even Shane Bond’s poor back. Such injuries kept even the best players on the side-lines. In other words, one has to be at the peak of their health to perform their best.

The same applies to your credit score, which is a reflection of your financial health. Every dent to your credit score needs to be looked into and nursed back to health as soon as possible so that you get the best credit products when you need them anytime ahead in life!

Planning the (Credit) Goals

At first glance, the goal of a cricket team is obvious - to defeat the opponent. However, it all boils down to the strategy that helps achieve this goal of scoring a certain number of runs or taking a defined number of wickets.

Similarly, with your credit score, the obvious goal is to maintain a score above 750 at least. But how you go about achieving it is what makes the difference. Paying your bills on time, not spending too close to your credit limit, having a good credit mix, length of credit history, new credit, and so on - you need to have a clear strategy in mind. This is where the OneScore app comes to your rescue. The app allows you to check your credit score as many times as you want and gives you customised insights into your payment history. It also has an AI-powered simulator that helps you develop an effective strategy to build/improve and maintain your credit score.

A team that gets off to a good start knows that they are in it to win it. So why not follow the same approach to your credit score? Practice good credit behaviour right from the start, and you will always be set to win in your credit health journey!

Following the (Credit) Etiquette 

Cricket is called the “Gentleman’s Game” for a reason - it relies heavily on rules and regulations that maintain the etiquette of the sport. No player wants to attract fines and penalties by stirring up scandals like the Monkeygate or Sandpaper gate.

It's that simple when it comes to your credit score too, just follow the rules, maintain credit repayment etiquette, and lenders will love you. So, what are the credit rules?

1. Make loan and credit card repayment on time.

2. Keep the credit utilisation low.

3. Get a secured credit card.

4. Avoid applying for new loans or credit cards unless necessary.

5. Report discrepancies in your credit report.

6. Aim for a healthy credit mix.

7. Retain older credit cards.

Maintaining (Credit) Consistency

Why do certain players get picked in the playing eleven, match after match, and series after series? The secret lies in the consistency that they display. They are known for maintaining their batting averages, strike rates, run rates, or the number of wickets taken, season after season.

Similarly, a borrower's payment consistency is of prime importance for a bank. It is the most crucial element that influences your credit score. So, all you need to do is work hard and be consistent with your credit payments, and you will always be a customer banks love to give their credit products to!

Consistent Reviewing of (Credit) Performance

When the bails are taken off and the covers placed over the field, a promising cricketer takes the time to review their performance by rewatching the match and its highlights. It allows them to get better at the game and improve. They don’t stop this process irrespective of whether they have lost the last match or won it!

The same is what needs to be mirrored by you when it comes to your credit score. Regular reviews, regular tracking, making financial decisions, and altering financial habits ensure your score is on top of its game! Here’s where the OneScore app helps! It lets you check your credit score multiple times for free, and that too with no ads or spam. The more often you check your credit score, the easier it would be for you to be aware, review it, keep track of it and improve.

Signing Off

So, clearly …. there is much more to learn from cricket and cricketers than just the satisfying sound of the ball hitting the sweet spot of a bat. Use these key learnings to keep a vigilant eye on your credit score by downloading the OneScore app and keep asking your friends beyond the field - ‘#ScoreDekhaKya’.

For more articles, information and tips, visit our page ScoreDekhaKya.

Moneycontrol journalists are not involved in the creation of the article.
Tags: #Features
first published: Dec 28, 2021 12:08 pm