Help in explanation of an ICB report

Pep2015

Hi there,

I am about to apply for a mortgage and ordered an ICB report to see what would come up for me. It shows two credit cards, one for 1K and a student one for €500 both
from 2011.
There were delayed payments on these cards, but I eventually paid both off in full.

On the ICB report they are both showing up as zero balance and there is no information in relation to payments, the only thing there is a C, which the report tells me is for Completed Account.

I'm trying to find out since is this a negative against me that will go against me when I'm applying for a mortgage or will I need to wait until next year for it to be off the report?

Any help appreciated!
Thanks!

Pep2015

Any ideas? Would really appreciate any help!

Trish56

Pep2015 wrote: »

Any ideas? Would really appreciate any help!

The website www.icb.ie clearly explains how to read your credit report. Each loan shows a credit history for last 24 months and if account is paid on time there will be a tick in the box, if you miss a payment then 1 shows in the box.

Hope the above helps.

Pep2015

Hi Trish56,

Thanks for your reply - there is no history on my report in terms of payment ticks etc. because it is outside of 24 months.

I can see anywhere on the ICB website, that says what "completed account" means - I can't find any more detail on that term anywhere.

Is that a positive or a negative term to have showing on my account?

Thanks a million

TrishSimon

Pep2015 wrote: »

Hi Trish56,

Thanks for your reply - there is no history on my report in terms of payment ticks etc. because it is outside of 24 months.

I can see anywhere on the ICB website, that says what "completed account" means - I can't find any more detail on that term anywhere.

Is that a positive or a negative term to have showing on my account?

Thanks a million

Its a positive as Trish56 said most banks only look at the past 24 months to see how your payments have been so usually a good report will show like a tick in each box for 24 months then a C for completed account showing your payments are up to date so nothing to worry about there.

Trish56

Pep2015 wrote: »

Hi Trish56,

Thanks for your reply - there is no history on my report in terms of payment ticks etc. because it is outside of 24 months.

I can see anywhere on the ICB website, that says what "completed account" means - I can't find any more detail on that term anywhere.

Is that a positive or a negative term to have showing on my account?

Thanks a million

Pep 2015,
I don't think you have anything to worry about. I presume you no longer have those credit cards and so while its recorded that you had two credit cards in 2011 and shows nothing other than completed it will be more than likely be good for your credit rating.

Just something to be aware of though if you are applying to the same bank for the mortgage that you had the credit card and you did not pay as agreed, remember this will show up on the banks records and you could be declined for this reason.

Best of luck with your mortgage application.

Pep2015

Thanks a million to you both - really appreciate your help!
That's given me great peace of mind

howa .223

Would anyone know why I would have a report back with no accounts found on the icb relating to my credit history?
I gave all my details 100% correct iv had a loan with tsb and I'm sure I had a few late payments but would have been over 5 years ago.
Should I just be glad its clear?

Trish56

If the loan finished more than 5 years ago there will be no record of it on your credit rating. If nothing is shown on your report well then you have nothing to worry about. The only place that will have record of the or late payments arepermanent tsb so them may not be eager to lend to you again.

howa .223

Thanks Trish
Always hoped I'd have a clean sheet as I'm applying for a mortgage but as like the op I'm getting everything in order first.

DulchieLaois

Hi Pep,

I always had a loan which was outstanding in 2012 as i was out of work and it has months unpaid , for example 2, 4,5 meaning months unpaid.

Eventually when I got a job and my affairs in order, i completed the loan well in advance.

However, this still remains on the ICB report and when i applied for a loan recently, i was advised that I wont be granted anything due to these ticks

Pep2015

Hi,

Thanks for your reply DulchieLaois - did your credit report show numbers and ticks etc on your credit report?

my credit report doesn't show any ticks Or numbers (showing arrears) all it says is a C for completed and shows the credit cards at zero balance

Thanks

DulchieLaois wrote: »

Hi Pep,

I always had a loan which was outstanding in 2012 as i was out of work and it has months unpaid , for example 2, 4,5 meaning months unpaid.

Eventually when I got a job and my affairs in order, i completed the loan well in advance.

However, this still remains on the ICB report and when i applied for a loan recently, i was advised that I wont be granted anything due to these ticks

dobsdave

C for complete/finished/no problems/move on.
Five years after the C, the loan dissapears as though it never existed.

Pep2015 wrote: »

Hi,

Thanks for your reply DulchieLaois - did your credit report show numbers and ticks etc on your credit report?

my credit report doesn't show any ticks Or numbers (showing arrears) all it says is a C for completed and shows the credit cards at zero balance

Thanks