You have missed more than payment recently

Missed payments are when you’ve not made repayments due under a credit agreement. For example, missing the last two months’ credit card repayments.

Lenders considering loan applications see the current status of your account. If two payments have been missed this will show a ‘status 2’. If this is in the last 12 months, you are likely to be declined.

Tip: In addition to paying the current instalment, continue to pay future payments on time. Because of this, you’re demonstrating positive borrowing behaviour. Additionally, this removes the ‘current status’ of your account as ‘2’ (for two missed payment) and may help your application.