What might affect the decision to grant a loan aside from credit score?

The decision to grant a loan is influenced by a variety of factors beyond just the credit score, and overall financial stability, which includes income, is a crucial aspect of that evaluation. Lenders assess a borrower's income to determine their ability to repay the loan. A stable and sufficient income implies that the borrower has the means to handle monthly payments, which significantly lowers the risk for the lender.

Additionally, lenders may consider other elements of financial stability, such as debt-to-income ratio, employment history, and overall financial behavior. A borrower with a solid income and financial history is seen as a lower risk, making it more likely that they will be approved for the loan. This broader assessment of financial health helps lenders make informed decisions beyond just looking at a numerical credit score.

Other factors, like the number of credit cards owned or age, might contribute to a lender's overall impression of a borrower but do not provide as comprehensive an overview of financial stability and repayment capability as income does.