How does a missed payment affect my credit file? 

It’s important to be aware of what can happen when you stop making repayments. It’s going to affect your credit file, and a poor credit score could mean:

• You get rejected for future credit applications
• You’re given a smaller credit limit or higher interest rates
• It could affect anyone who is financially associated with you (for example through a joint bank account or credit agreement) and impact their ability to get credit.