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Equifax Credit Report

  • 05-10-2017 2:46am
    #1
    niva*sis
    Registered Users Posts: 309 ✭✭


    Hi All, 

    Can anyone shed some light on this for me.  I got an equifax credit report and in the space of a year it shows that i applied for a credit card of 2k limit and then increased my limit twice in the year.  (max limit for 5k AUD) can anyone tell me if this will have any affect on me if i apply for a mortgage. it also shows that i applied for an overdraft of 500AUD.  This would all be over an 18 month period. Thanks.  PS: i have since decreased my credit card limit back down to 3k.


Comments

  • #2
    dennyk
    Registered Users, Registered Users 2 Posts: 1,715 ✭✭✭dennyk


    I doubt any Irish bank would be looking at foreign credit reports or scores, so it's not likely to have any impact at all. Even if they did, credit limit increases on revolving credit lines generally have no negative impact on your score (other than the hard pull they may require from your credit card issuer, which has a slight negative effect), and having a large line of credit that you are using very little of will usually improve your score, as it means your credit utilization % is even lower.

    Missed payments, actual bank overdrafts, or carrying a very large balance from month to month on your credit card can all have a negative impact on your score and may be of concern to a bank when considering your mortgage application, if the bank is aware of them.


  • #3
    niva*sis
    Registered Users Posts: 309 ✭✭niva*sis


    Thanks dennyk

    I think the bank will look at my report because it would have been my time spent outside of Ireland and I would have only been living in Ireland 6-9 months before applying for a mortgage. I don't have an overdraft however I did apply for one but did not get approved because of the increases on my credit card. My only debt is the credit card which has never exceeded 5k and payments have been made every month only not paid in full. I only only 2k on it now and limit is 3k now but that will be paid off in full by next month. Come 2018 I will be debt free thankfully and hoping my account looks good enough then to apply for a mortgage in Ireland. Bare in mind I live in Australia now and will be making the move home in mid 2018.


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