India’s leading credit score planner OneScore says ‘Millennial & Gen Z women most credit conscious’

  • Metros cities – Bangalore, Mumbai, Pune, Hyderabad and Ahmedabad host the most credit aware women
  • Witnessed 20% rise in women users in FY21 vis-à-vis FY20
  • 60% women have excellent credit scores of above 750
  • Over 75% women who checked their credit score regularly did not own a single credit card
  • Over 64% of women who checked their credit score regularly never availed any form of consumer loans

Mumbai, 09th March 2022: OneScore, India’s leading tech-powered credit score app which enables one to keep a regular check on one’s credit health, today said that ‘Millennial & Gen Z women were the most ‘credit conscious’ cohorts. The platform said that it had witnessed a 20% surge in new women sign-ups in FY21 vis-à-vis FY20 indicating a gradual yet steady growth in awareness and credit consciousness among women in India. The data was shared as part of an internal study conducted by the company to evaluate credit behavioural pattern and financial independence among women. The study was conducted on 35 lakh users of OneScore app across the country out of which 4 lakhs were women.


The data further highlighted – the metro cities of Bengaluru, Hyderabad, Pune and Mumbai hosted the maximum number of credit conscious women accounting for approximately 20% of the total number of women on the platform. Among all the metros Bengaluru topped the charts as more than 8% of credit conscious women hailed from the Silicon Valley of India, followed by Hyderabad, Pune and Mumbai. Among states however, Maharashtra topped the charts accounting for more than 17% of credit conscious women, followed by Karnataka (13%), Tamil Nadu (13%), Telangana (7%) and Gujarat (6%).


Interestingly, for women with bureau presence, the data highlighted that the majority of the women (over 60%) had an ‘excellent’ credit score of over 750 while about 13% owned a good credit score ranging 700-749.


However, at an overall level, when it comes to adopting digital financial products like credit cards, debit cards, and payment wallets, the disparity between men and women has been stark.  In a typical Indian household, woman are usually dependent on their male family members like father, brother or husband to take the final financial decisions. Over 75% of women who checked their credit score regularly did not own a single credit card. The data indicated that these women were either availing credit from other sources or were preparing themselves to avail fresh credit in the near future and therefore were pursuing to build a healthy credit score which acted as a trigger for them to monitor their credit score regularly. Amongst women who owned credit cards on the platform, 53% owned an active card and 14% women-owned more than one credit card.


Speaking on these trends, Anurag Sinha, CEO & Cofounder, One Score & One Card, said, “The credit landscape of the country is witnessing substantial transformation and women will have a very strong influence in the way forward. With rapid digitisation and radical shift in socio-economic patterns the industry is witnessing a sizeable surge in the number of women consumers participating in the Indian credit landscape, building favourable credit profiles and achieving financial independence. With unhindered access to credit instruments coupled with the judicious sense of budgeting that women are particularly known for, women can alter the way India spends and consumes fuelling economic activity and growth. It is therefore extremely important to empower women and encourage them to pursue financial independence by embracing their individual credit journey.”

Launched in July 2019, OneScore helps customers get a free, unbiased, and privacy-guaranteed access to their credit score. Its AI-based score planner, offers detailed, customised insights into one’s credit score, which helps one to improve and maintain an above average credit score. Its card vertical OneCard offers premium metal credit cards to all its users.


About FPL Technologies

FPL Technologies was founded by Anurag Sinha, Rupesh Kumar, and Vibhav Hathi, who come from banking backgrounds with deep expertise in payments, credit and building and scaling digital businesses. FPL is on a mission to re-imagine credit and payments from the first principles. The OneCard & OneScore apps can be downloaded from and respectively.