How this affects your affordability score
Lenders want to see that you have enough money in your account each month to pay to be able to repay your debt.
If your account balances drop below zero regularly, this can affect your chances of being offered credit. And if you let your balance go below zero when you didn’t the month before, it can be a sign that something unexpected has happened.
This may make lenders uneasy, as they like to know your finances are stable month to month.
Improve your affordability score
- If you can, try to not go overdrawn on any of your accounts more than once in 6 months
- Make sure you know when bills or scheduled payments are leaving your accounts