Your Borrowing Power may drop for a few reasons. This doesn’t necessarily mean it's because of any changes in your credit profile or that you’re not eligible for cards or loans.
Reasons your borrowing power may have decreased:
- Changes in the credit market, such as lenders removing cards or loans that you were previously eligible for, or limiting the number of customers they accept.
- Changes to your personal information, such as employment status, salary, or if you have recently moved address.
- Your credit score has decreased. There isn’t a direct link between your Borrowing Power and credit score, but it could mean that credit offers you were previously eligible for are no longer available to you, and your new Borrowing Power is a reflection of this.
You should always check your eligibility for the credit offers on our website before you apply, to make sure you know how likely you are to be accepted.