Build credit history in Ireland

Speedwell

I'm the one American who doesn't like to be in debt, so I also have no consumer debt, credit cards, or loans. I'm also working full-time. I would like to know how it would work here in Ireland if I needed to buy something like the OP does. What's the best way to build good credit in Ireland without having to take on more than a trivial amount of debt?

biko

Moved out from another thread so there is no mixup.

daveharnett

Speedwell wrote: »

I'm the one American who doesn't like to be in debt, so I also have no consumer debt, credit cards, or loans. I'm also working full-time. I would like to know how it would work here in Ireland if I needed to buy something like the OP does. What's the best way to build good credit in Ireland without having to take on more than a trivial amount of debt?

Check out http://www.icb.ie/

It's not necessary (here) to acquire debt just for the sake of gaming your credit score - an empty credit report is not a problem.

If you've got income and no debt, you're sorted.

ironclaw

We're no where near as strict as the US when it comes to credit history. As long as you have sustained, provable income and have never defaulted in a serious manner / declared bankruptcy, you are fairly sorted for a consumer level loan for nominal amounts e.g. A car. Getting a mortgage or business loan will attract higher scruntity in the current climate.

biko

I assume you have a bank? Go in and ask them about your loan possibilities. They will tell you.

Is this pertaining specifically to car loan? If not I will move this to Personal Banking

Speedwell

not specific; fine to move, thanks.

Trish56

If you have regular savings this should suffice.

newacc2015

Irish credit rating is pretty horrific relative to the US. It lacks the detail of the US credit reports. The Irish ones will mainly say what loans you have, outstanding amounts, whether or not you are behind on them. There is no massive detail like the American ones

Despite whatever is saying about not needing a credit history for credit. I totally disagree. I have heard a few stories of relatively high income earners in good stable jobs rejected for a basic credit card as they had no credit history. IMO get yourself a credit card if you can and pay it off at the end of the month.

Trish56

Lots of First time buyers get approved for mortgages based on their savings profile and management of their current account. They are not turned down because they have no credit rating with ICB.