Credit applications look beyond just credit scores: Spending habits are also being examined

For consumers planning to apply for a loan or credit card, banks are taking a broader data set into account during their evaluation processes. While a high credit score and a regular payment history are viewed positively, the applicant's general financial behavior is also gaining importance in risk analysis.

It is noted that banks can evaluate credit card spending, money transfers, account activity, and income-expenditure balance collectively. According to experts, this picture can be used as an additional indicator of a person's repayment capacity and financial habits.

NOTABLE FINANCIAL BEHAVIORS

Among the issues experts warn about is the use of credit cards for betting or gambling. Card payments made to virtual betting platforms or heavy spending on games of chance can be viewed as negative factors in banks' risk profile assessments.

However, it is emphasized that comments suggesting a single transaction automatically leads to a loan rejection by every bank cannot be generalized. Banks' risk policies and evaluation criteria can vary from institution to institution.

Frequent money transfers are also among the areas banks pay attention to. In particular, the lack of a description for regular and high-amount IBAN transfers can make it difficult to understand the nature of the transaction. For this reason, it is recommended to include descriptions indicating the purpose of the transaction in transfers.

The balance between income and expenditure is also one of the prominent factors in credit evaluations. Consistently high spending despite a low regular income can lead banks to conduct additional reviews regarding repayment capacity.

Experts advise consumers who plan to use housing, vehicle, or personal loans in the future to monitor their financial movements regularly, not to let others use their credit cards, and to update their records at the bank when there is a change in their income information.