Friday 24 March 2017

Check out what your rating is

PART of the information held on consumers by the Irish Credit Bureau is a credit bureau score (CBS).

Everyone gets a number which summarises your credit report at a particular point in time.

Typically, a higher score suggests a better prospect of agreed repayments being met on time. A lower score suggests you may miss payments or be a later payer.

The sorts of factors that determine your credit score include the number of previous late payments, the numbers of accounts you hold and the number of applications for credit in the past year, according to the ICB.

Your credit report is important so it is a good idea to check it every so often to ensure it does not contain errors, the Consumers Association advises.

"It is not uncommon for a report to contain mistakes or incorrect information," according to Mark Channing of the Consumers Association.

Under Data Protection legislation you are entitled to receive a full copy of your ICB report. Apply online at, or call (01) 2600388. It will cost €6.

Irish Independent

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