Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Query relating to credit report from Irish Credit Bureau

Options
  • 14-01-2012 12:55am
    #1
    bobbysands81
    Registered Users Posts: 7,201 ✭✭✭


    Just got my credit report in the post.

    Was very disappointed to see that the report doesn't include any details of whether banks have refused me for loans. The reason I thought this info would be there was that I've been told by a bank before that they could see that another bank turned me down for a loan.

    The bank knew that another bank made a query to the ICB about me. How did thy know this if it's not on my credit report?

    Is there other info that they have that the don't release as part of the credit report? Do I need to send in a Data Protection request to get the full amount of info?

    Very confused.


Comments

  • Options
    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    A strike should appear if you asked for credit in a bank.

    Unless the loan was declined before a ICB search was conducted, this can happen if you don't meet the lending criteria so the loan would not proceed any further.


  • Options
    #3
    phormium
    Registered Users Posts: 3,309 ✭✭✭phormium


    The ICB report would not include details of bank declining loan applications, it only shows where the bank make an enquiry on your credit status, another bank can only draw their own conclusions from why there might be an enquiry and no follow up loan registered. So if for example you applied to bank A today for a loan and were turned down next week and applied to bank B, bank B would see an enquiry on your record and would assume from the fact that you were now approaching them that bank A had refused you.

    It's not always a valid assumption as sometimes people shop around especially in the case of mortgages so could have several enquiries on their ICB but it would not necessarily mean they were refused.


  • Options
    #4
    bobbysands81
    Registered Users Posts: 7,201 ✭✭✭bobbysands81


    phormium wrote: »
    The ICB report would not include details of bank declining loan applications, it only shows where the bank make an enquiry on your credit status, another bank can only draw their own conclusions from why there might be an enquiry and no follow up loan registered. So if for example you applied to bank A today for a loan and were turned down next week and applied to bank B, bank B would see an enquiry on your record and would assume from the fact that you were now approaching them that bank A had refused you.

    It's not always a valid assumption as sometimes people shop around especially in the case of mortgages so could have several enquiries on their ICB but it would not necessarily mean they were refused.

    I want a list of banks that have checked my credit record in last 5 years, I thought this might have been on my credit report, it's not. Is there any way I can get that?

    Also, should the report not have details of loans that I currently have out with banks?


  • Options
    #5
    phormium
    Registered Users Posts: 3,309 ✭✭✭phormium


    How can you be sure they did a credit check? Some banks own internal systems decline you before you ever get to credit check stage. Certainly before the present crisis some banks had their own discretionary levels in branches and credit checks may not have been done on all loans granted, for example good customer, good record etc, check may not have been considered necessary.

    Loans are only on the ICB if the bank gives the ICB the details, certainly in the past not all bothered for all loans. My own ICB is blank! Despite that I have a mortgage, credit cards and have had loans in the past, none of which ever appeared on my ICB.


Advertisement