Credit card and icb report

Slippin Jimmy

Im on track to paying off my credit card by the end of the year. Last year I missed 6 payments due to being ill and claiming social welfare. Obviously this will go against my credit report with the icb. From what I can gather it will stay with me for 5 years. My question is, do I have to close my credit card account when it is paid off, or can I keep it open and in 5 years time it will be gone?

freddiek

i'm not sure about the last part of your query

on the issue of the ICB, have u been told for definite that your details have been passed on due to the missed payments?

Slippin Jimmy

freddiek wrote: »

i'm not sure about the last part of your query

on the issue of the ICB, have u been told for definite that your details have been passed on due to the missed payments?

I rang up boi credit card services to query it. I asked them would my missed payments affect my credit report and they said that it would. I am now presuming that it will. Im going to get a copy of my icb report sent out to me.

I was just wondering if I keep my boi credit card account open will the "bad debt" keep carrying over until I close the account. Or can I pay it off and keep the account still open.

freddiek

if the time period which u mentioned exists, i wouldnt think it has anything to do with closing the account or not. It seems irrelevant to me whether your close it or not

if you have no further infractions for the next few years, your report should be wiped clean, presuming they have a five-year rule in existence

I have a report from the ICB, requested it a few years back. There was nothing on it, i missed the odd payment over the years but obviously nothing so serious to get a "black mark"

Slippin Jimmy

Hopefully my report is similar to yours, but I won't know until I send off for it. I want to keep the credit card open in case of emergency.

roxybing

Hi Duff-man.

The icb shows shows your last 2 years history- as you say last year you missed 6 months paymnts it will show as on your icb, for the following 24 months

If It was me I would get copy of my ICB and see what it is showing missed and operate the account within it's terms and conditions going forward until you have over 2 years perfect payments. If a creditor reads it then it will show as a perfect history.

The ICB holds your records for 5 years after the relationship end. ie you close the account. If you close your account having missed payment within the last 24 months it will show this for 5 years.

If the use of your card was withdrwan by your card provider it would show as such on your credit file for 5 years after the relationship end

Hope this makes sense

Slippin Jimmy

The use of my card hasn't been withdrawn. I paid all my missing payments recently enough and I am back on track paying off 4 times what they ask for every month. So, in 2 years time my icb report should be back to normal?

roxybing

24 months after your last missed payment.


see www.icb.ie - Select view sample report from Homepage.