"These are the behaviours lenders look out for when they consider your application"
"With so many ways to manage your money these days, from Revolut to credit cards, it can be easy to lose control over what's going in and out of your account."
"However, when applying for a loan, lenders will be able to see the activity on your accounts and will seek statements for loans and credit cards, which can often trip people up if they are not managed well."
Lenders examine bank account activity and request statements for loans and credit cards when assessing loan applications. Multiple payment platforms and credit products make tracking inflows and outflows harder for borrowers. Poorly managed credit cards, outstanding loans, inconsistent deposits, high spending, or unclear transfers can indicate higher risk to lenders. Transparent, organized records and timely repayments improve assessment outcomes. Applicants should reconcile accounts, reduce unnecessary credit usage, and prepare clear statements to avoid surprises during credit checks. Overdrafts, frequent overdraft fees, multiple credit enquiries, and large cash withdrawals are other red flags. Lenders use these signals to judge affordability and reliability.
Read at Independent
Unable to calculate read time
Collection
[
|
...
]