Your Borrowing Power is an indication of the credit available to you on TotallyMoney at a given time and is a score out of 10.
Your Borrowing Power may have dropped for a number of reasons, but this doesn’t necessarily mean that it's due to any changes in your credit profile or that you will not be eligible for a credit product that’s right for you.
Your Borrowing Power may decrease due to:
- Shifts in the credit market, such as lenders removing credit products that you were previously eligible for, or lenders limiting the types of customers that they lend to, will result in a reduction in your Borrowing Power.
- A fall in your credit score has meant your eligibility for credit products offered on the TotallyMoney website has reduced. This in turn means there may be fewer credit products that you are eligible for, and the chances that you will be accepted for credit has fallen.
You should always check how eligible you are for the credit products listed on our website before you apply.