Key Facts on Credit Information 2019

Central Credit Register

The Central Credit Register (CCR) is a new secure system for collecting personal and credit information on loans.  It is operated by the Central Bank of Ireland under the Credit Reporting Act,2013.  Since the 30th June 2017 lenders including banks, credit unions and any other lender that provides consumer loans of €500 and above have been submitting personal and credit information on those loans to the CCR.  Consumer loans include credit cards, mortgages, overdrafts and personal loans.

From the 30th September 2018, it is compulsory for lenders to access the CCR when considering a credit application of €2,000 or more.

You can request your credit report any time, free of charge but subject to fair usage.

Credit Reference Agencies

Credit Reference Agencies collect both negative information and positive information about consumers.  Negative information is information about any default on credit repayments such as arrears, missed payments and bankruptcies.  Positive information is information relating to your overall financial standing such as your overdraft limit, the limit on your credit card and records of your repayments.

Irish Credit Bureau

The main Credit Reference Agency for individuals in Ireland is the Irish Credit Bureau (ICB) but there are several other agencies, mainly dealing with businesses.

The ICB compiles a private data base of information supplied by its members, which are the main financial institutions, including some credit unions.  Local Authorities are also members.  Membership does not include utility companies or retail outlets.  The data base includes information on a wide range of loans, including personal loans, mortgages and credit card loans.  That information is available only to you and to members of the ICB.

Financial institutions use the information held by the ICB when deciding whether to lend to a customer.

The Irish Credit Bureau database will only hold information about you if you have had an active loan in the past five years and if your lender has provided the information to the ICB.