How Can I Improve my Credit Score in Ireland?

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If you are thinking of applying for a mortgage for a new home you should think about checking your credit score. If you are even slightly worried about missed payments on your credit card from the past you should check your score and start thinking about how you can build up your credit before applying for a mortgage to ensure you get the best quote possible.

Having a good credit score is extremely important before applying for a mortgage. Lenders ask for credit scores to see your track record of making debt payments to see how reliable you will be as a borrower. If they believe you show signs of being unreliable they may not give you a very good interest rate, and may refuse to approve you for a loan at all. So how can you improve your credit score to keep the worst from happening?

Existing Payments

The absolute best way to improve your credit score is to pay any current existing payments on time and in full. Even if you failed to make certain payments in the past, it does not necessarily mean you will never be able to get a mortgage loan in the future. If you show that you are responsible with your debt now, it will improve your credit score and look good to lenders.

Avoid Excessive Applications

Another way to show lenders that you are responsible with your debt payments is to avoid borrowing more than you can afford. Proper budgeting can help you avoid borrowing in excess, to ensure that you can make all your debt payments on time and in full. Failure to borrow on credit in moderation will not make you look good to lenders and will likely decrease your credit score.

Do Not Apply for Every Credit Product

You should not apply for every credit product available. It is true that credit agencies do not have the option to see if you have been previously turned down for a loan. However, they can see the lenders you have applied to, and could draw their own conclusions if you clearly do not have a loan with said lenders. This can have a negative effect on your credit score.


It is important to remember that credit agencies can only information on your credit details for up to 5 years. After that time period has passed your credit is no longer active. This means that any loan payments missed more than 5 years ago will no longer appear on your credit report. So, if you time your mortgage application well enough your missed loan payments from the past may not even show up in your credit report, and can help you get your mortgage loan approved at a good price.