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ICB Credit Rating

  • 11-07-2019 02:27PM
    #1
    Saysay19
    Closed Accounts Posts: 137 ✭✭


    Hi everyone

    I received my credit report today and my credit rating score is 406.


    Is this very bad?

    I took out my first loan when i was 18 and i have had a few credit union loans since, all paid off without getting into arrears.

    I applied for my mortgage 10 years ago and bar 1 late payment (last year i had a family bereavement and I hadnt lodged money in time, but it was paid within 24 hours)

    I have a credit card with 0.00 balance.

    Im hoping to move house next year and have been saving consistently since Janary for when the time comes.

    if this is low how can I fix it?

    Many thanks


Comments

  • #2
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    I don't think you have anything to worry about if you always repaid your loans on time and continue to do so. Your Credit score changes as your details changes so its important to continue to repay any loans including credit card repayments in a timely manner and also not going overdrawn on your current account.

    If applying for a new mortgage your current lender will pay more attention to how you repaid your current mortgage and once the monthly repayment was made within the month is was due it will not show up as arrears.


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