What is my credit rating?

Ever wondered about your credit rating? A new operation has been put in place to help borrowers and lenders to simplify the lending process. Operated by the Central Bank of Ireland,

  “The Central Credit Register is a new secure system for collecting personal and credit information on loans.” 


What does this mean for me as a borrower?

This database allows us to calculate your ability to pay back a loan based on your credit history. It is beneficial for us in assessing an applicant’s eligibility, and will also benefit you in that your application will be a far more streamlined process. It is this kind of technology that allows us to offer 24 hour loan approval.*


Where can I access my Credit Rating?

The Central Credit Register’s website currently states …

  “It is expected that credit reports will be available in early 2018 subject to data consolidation being completed satisfactorily.”


Is this the same as a Credit Score?

A Credit Score suggests that you are graded based on your ability to repay a loan. There is no grading system in place. This is simply a list of your previous credit information, which currently includes credit cards, mortgages and personal loans.


For more information you can visit the Central Credit Register website, or the Central Bank of Ireland.


Want to build your credit rating? If you’ve got some savings with us, take a Covered Loan. Build your credit rating with a lower rate loan that provides instant loan approval.*


*Lending criteria, terms and conditions apply.

All information correct at 19 01 2018.

Share this News article