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

Credit Rating

galwayjohn89 · 2013-08-28 22:37:55

I am in college and the banks are throwing credit at me. So far I have a €1,500 overdraft with AIB, €500 travel loan with BOI, a €4,000 college loan with BOI and a €1,150 credit card with BOI. For my credit rating is it a good thing to have loads of loans and cards all paid back on time? Or is it better just to have 1 or…

Options

28-08-2013 11:37pm

#1

galwayjohn89

Closed Accounts Posts: 1,930 ✭✭✭

Join Date: October 2011

Posts: 1708

I am in college and the banks are throwing credit at me. So far I have a €1,500 overdraft with AIB, €500 travel loan with BOI, a €4,000 college loan with BOI and a €1,150 credit card with BOI.

For my credit rating is it a good thing to have loads of loans and cards all paid back on time? Or is it better just to have 1 or 2.

The college loan was €2,000 last year, and another €2,000 this year and another €2,000 next year. The way they do it is this year created a new loan account for €4,000 and paid off the old loan account so it appears on my credit rating as a closed account (paid off on time).

I could hypothetical have 6 completed loans 3x College and 3x Travel by the time I finish college. Would this be a good idea to improve credit rating or not?

0