How this affects your affordability score
Lenders want to see that you have enough money in your account each month to afford repayments.
If your account balance drops below zero regularly, this can affect your chances of being offered credit. And if you let your balance go below zero for two months in a row, it could be a sign that something unexpected has happened.
This could lead lenders to feel uneasy, and lower your chances of accessing credit in the future.
Improve your affordability score
- If you can, try to avoid going overdrawn more than once within a six-month period
- Make sure you know when bills or scheduled payments are leaving your accounts