Credit ratings

Gillo

Not sure if this is the best forum to post on, so Mod's feel free to more.

Does anyone what the story is with getting something removed from the Irish Credit Bureaus database?

I just had a credit check run on myself, as I'm going to be applying for a mortage next year and in the past have had misadventures with a credit card I wanted to see how bad I looked.

I had trouble with two companies when I was younger and foolish, the first was MBNA (nothing at all showed up from them) the second is AIB, they showed up on the report as "K" (credit card revoked). Now going from the date they show on that, it was just under 4 1/2 years ago.

According to the ICB's website "Information is held for five years after a credit agreement is closed." does this information automatically get deleted or would I have to go back and check again in 7 or 8 months time that it is definetly gone?

Also is the report which I was sent out the exact same as what a bank would see when they check with the ICB, as I said I'm surprised MBNA didn't get a mention on it?

Finally, I've heard that it looks bad if you get a credit check done on yourself, is this the case??

baz909

the credit rating holds for 5 years and is automatically deleted after this time.

the best advise I cad give is to write to each financial institute requesting for your ICB profile to be deleted. if they had to "write off" any of your accounts there will be an outstanding balance and if you pay this they may delete your profile as a special matter.

also when a credit check is done, it leaves an "electronic footprint" which any bank / financial institute can see...

shoegirl

gillo wrote:

I had trouble with two companies when I was younger and foolish, the first was MBNA (nothing at all showed up from them) the second is AIB, they showed up on the report as "K" (credit card revoked). Now going from the date they show on that, it was just under 4 1/2 years ago.

According to the ICB's website "Information is held for five years after a credit agreement is closed." does this information automatically get deleted or would I have to go back and check again in 7 or 8 months time that it is definetly gone?

Also is the report which I was sent out the exact same as what a bank would see when they check with the ICB, as I said I'm surprised MBNA didn't get a mention on it?

Finally, I've heard that it looks bad if you get a credit check done on yourself, is this the case??

I don't think a credit check on yourself is a bad thing to do at all!
The AIB credit card will be automatically deleted in 6 months time. Nothing to be worried about there. In fact I'm surprised that info was put on as many instutions only started putting on CCs about a year ago.

Which brings me to the second point - MBNA - credit cards only really started being listed about a year ago so there's a good possibility that none will show up at all if you have them or had them more than a year ago.

You cannot get information (<5 years old) removed unless it is inaccurate in which case it is the responsibility of the instutiton to correct this. They are usually quite happy to do this (I discovered that BOI had never marked a cleared loan as such - I went from being almost totally unable to get credit, to having few problems).

A lot of people are delighted to discover how little information is actually on their record! Don't complain! What you see is exactly what the banks see.

Gillo

Thanks for the advice, yeah I figured there was potential for a lot more bad stuff, if only I'd listened to my dad at the time!!!

I think I may still owe AIB something (a few hundred), but considering it''s already written off by them, will delete in 6 months and the stupidly large profits they make, I think I'll let it go. I had considered getting in contact with them with a view to paying it off and getting the record deleted, but was afraid that they may charge me 4 1/2 years worth of interest and even if they did accept payment it would then go on the record for another 5 years.