# Interpreting an ICB Rating



## Emma36 (2 Nov 2016)

Hello, 

Got a copy of my ICB rating this morning, in preparation for submission of a mortgage application. 

There is no 'score', just a list of current and recent loans and a record of payments up to date. How do I determine: 
a) what score a financial institution would apply? 
b) what that score means? 

It looks good in that it's all ticks, showing no arrears. However, for two loans (these were Harvey Norman Hire Purchase) it shows ticks beside payments 1, 2 and 3. Then a series of dashes for the subsequent six months indicating 'no information available' and finally a 'c' showing the account was closed. Is this a negative? I don't know why they didn't have access to the information. The payments were made consistently, monthly, throughout the two ten month credit terms. 

Thanks in advance. 

Emma


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## cremeegg (2 Nov 2016)

The idea of a credit score does not exist as such in Ireland. The thing you see advertised on the TV is an English concept. Individual banks may use your ICB record to "score" you, but that would be the banks own system and you would not necessarily be told how they weight the various bits of information they have.


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## Steven Barrett (2 Nov 2016)

The banks check your ICB to make sure you have paid off your past loans. They don't want to start their underwriting process only to find out the applicant has a history of defaulting on loans. If you have all ticks and no arrears, that's good, nothing to worry about. 


Steven 
www.bluewaterfp.ie


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## Gerry Canning (2 Nov 2016)

All your indicators are positive.
ticks = payments made on time.
- = Harvey norman didn,t update and c = completed account.


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