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Explainer: what is a credit score?

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A credit score is a critical piece of financial data that controls vast swathes of your financial reputation.

Whenever you apply for a substantial loan, whether it's a mortgage, a car loan, a personal loan or anything else, your credit score will be checked.

The Irish Credit Bureau is used by 300 Irish lenders, making it one of the most sensitive repositories of financial data in the country.

As such, if it has incorrect information, citizens may be unfairly turned down for life-defining events, such as buying a first home.

Citizens can get a copy of their credit report by visiting icb.ie or ringing 01-2600388.

Realising the sensitivity of the data, the Central Bank recently set up an alternative to the ICB, called the Central Credit Register.

Irish Independent