Bank Issue

crazydave

Hi,

Not sure where to post this thread. Basically i have got the worst credit rating possible in my bank because of a student mastercard where i missed payments a lot and it was always maxed out. Anyways i now have a full time job and I'm earning decent enough money so obviously I'm looking to get on the property ladder. My question is that will i always have a bad credit rating? Are they going to hold it against me for missing payments on a student mastercard that they willingly gave to me even though they knew i had no job at the time. The banks are scumbags in my opinion!

Jesus Wept

crazydave wrote:

Are they going to hold it against me for missing payments on a student mastercard that they willingly gave to me even though they knew i had no job at the time. The banks are scumbags in my opinion!

It's a limit, not a target Dave.

You could of exerted some control. I like having a large limit on my credit card, they could increase it to €EleventyBillion!!1! if they want.
I understand I have to clear it at the end of the month to avoid interest, they don't really hide that fact imo.

The whole credit rating thing is a bit dubious imo though, It seems impossible to actually get any info from them about your current rating, and how they calculate it, which is bull.

biko

Yes, it's the bank fault you can't handle money.

OT, you should get a better rating after a while. Try another bank.

miju

biko wrote: »

Yes, it's the bank fault you can't handle money.

agreed the bid bad bank may have given you the credit limit but take some responsibility for your actions and face the fact you ****ed up. Its your fault and only your fault not the banks.


Anyways to answer your question. they will keep all records of missed payments (as well as payed ones too) on a central database so all banks / credit lending companies can check you out.

this stays on record with the Irish Credit Bureau for 5 years from the date the loan account is closed or written off not the date it was taken out. Once the 5 years have elapsed they will automatically remove records on the loan. However, the banks that have checked you in the meantime are under no obligation to remove records of any loans etc that they have refused you for.

Best thing to do is request a copy of your credit rating at ww.icb.ie it only costs €5 and is worth it so you know exactly what the banks know

AlmightyCushion

Moved from After Hours.

crazydave

For your information the reason i missed payments was because i swapped branches and i didnt realise for a while that they had forgotten to change the account that the direct debit was coming from. The mistake was on their end not mine. Bunch of ****ing cowboys in AIB if you ask me. I'm just going to have to go in and talk to the manager

Also just recently i got charged stamp duty which pushed me over my limit and now ive been fined for going over the limit. How the f**ck was i meant to know that they were gonna charge me that?

AlmightyCushion

crazydave wrote: »

Also just recently i got charged stamp duty which pushed me over my limit and now ive been fined for going over the limit. How the f**ck was i meant to know that they were gonna charge me that?

Because it's a set fee at a set time of year.

Jesus Wept

Are you referring to your credit card?
You can't go over your limit?

You get statements, they arrive to let you know you need to pay 'X' amount, and you have a couple of weeks to do it from when you get your statement.

Toots

You can go over your limit on a credit card, it doesn't happen often, but it can. The likes of stamp duty or transactions done over the weekend sometimes don't come off until a few days later and then push you over your limit. It happened to me when I was in australia cos the foreign charges took longer to apply.

It does say in the Ts&Cs that stamp duty is applied in april of each year on credit cards. As regards to the Direct Debit, yes, AIB is at fault here for not transferring the DD over, but you are responsible for making sure your credit card is paid on time. You should be monitoring your account and on seeing that the direct debit had not gone through, made a manual payment either online or in a local branch. I'm not having a go at you here, I'm just telling you what the branch manager is most likely to say to you. You wouldn't be the first person I've seen to get themselves into a mess with their student credit card. Your best bet is to get a copy of your credit rating from the ICB and then go to the branch manager and make a complaint, that way you can explain to him exactly what has happened as a result of the credit card fiasco and see what, if anything, he is prepared to, or able to do for you. If you don't get satisfaction from the branch manager, go to the ombudsman and make your case, and they will investigate it impartially.

PS How long ago was it when all this happened with the credit card?

stepbar

crazydave wrote: »

Hi,

Not sure where to post this thread. Basically i have got the worst credit rating possible in my bank because of a student mastercard where i missed payments a lot and it was always maxed out. Anyways i now have a full time job and I'm earning decent enough money so obviously I'm looking to get on the property ladder. My question is that will i always have a bad credit rating? Are they going to hold it against me for missing payments on a student mastercard that they willingly gave to me even though they knew i had no job at the time. The banks are scumbags in my opinion!

The banks are scumbags.... LOL. Exactly how would the bank know if you had a job or not? You would have had to record some income on the application form. Credit cards are not handed out willy nilly. How in ever some should never get them in the first place but that's the risk you take.

You missed a few payments. Chances are it won't be that serious. How in ever if there was a black mark registed against your name then your credit rating will be affected for 5 years.