What's an affordability score?

What's an affordability score and report?

There’s more to credit than just your credit score.

Your new affordability score helps you feel more sure of getting a 'yes' when you apply for credit.

It works together with your credit score to help you to understand how lenders might see you when you apply for credit. Your affordability score and report do this by looking at your income and everyday spending from your linked bank accounts, not just your credit history. So while your credit score looks at the past, your Affordability Score helps paint a picture of the future.

How do you find out your affordability score?

We work out your affordability score when you link your bank accounts to your ClearScore account. It’s completely safe and secure, and you can unlink at any time.

Once you’re up and running, you'll:

• Know where you stand with lenders before you apply for credit.
• See personalised tips and insights to improve your chances of being approved.
• get the widest range of offers that are right for you.

Is linking my accounts safe and secure, and what data do you look at when I link them?

Linking your account is completely safe and secure, and you can unlink at any time. When you link your account, we'll be able to see and share the following:

• Account details
• Account transactions
• Bills and payments
• Account features and benefits

We won't have access to your passwords of login details.

A link only lasts for 90 days, so you'll have to give your consent to share your account data with us again after that. If you decide not to re-authenticate your account after the 90-day period ends, we'll delete all the data associated with your bank provider after nine months.

How can your affordability score help you get better deals?

Your Affordability Score could save you money.

Linking your accounts gives you the option to share your data with banks and lenders. If they have a more detailed picture of your income and spending, they might give you better deals when you apply for credit.

How do you improve your affordability score?

In your affordability report, we'll give you personalised insights that tell you what you're doing well and where you could improve. We'll give you easy-to-action steps that can help you improve your affordability score and increase your chances of getting a 'yes'.