What is the Central Credit Register?
The Central Credit Register stores personal and credit information on loans of €500 or more. It is operated by the Central Bank of Ireland under the Credit Report Act 2013. The Central Bank has contracted with CRIF Ireland Ltd, a wholly owned subsidiary of CRIF Italy S.p.A. to operate the Central Credit Register on its behalf.
The Central Credit Register is a national database that, on request provides:
- a borrower with an individual credit report detailing their credit agreements;
- a lender with comprehensive information to help with credit assessments; and
- the Central Bank with better insights into national trends in the provision of credit.
The Central Credit Register also supports the Central Bank’s obligations and functions, including consumer protection, supervising the financial sector and ensuring financial stability.
Since 30 June 2017 lenders including banks, credit unions, and any other lender that provides consumer loans for €500 or more, have submitted personal and credit information on those loans to the Central Credit Register every month. The Central Credit Register started with credit cards, mortgages, overdrafts, and personal loans.
Since 31 March 2018 licensed moneylenders and local authorities have submitted information to the Central Credit Register every month. Business loans have also been included from this time. Since 30 June 2019, lenders have submitted information on hire purchase, personal contract plans (PCP) and asset finance loans to the Central Credit Register. Find more information on what is included on the Central Credit Register.
Lenders must request your credit report of you have applied for a loan of €2,000 or more. Lenders may request a credit report if the amount applied for is less than €2,000.
A lender may obtain your credit report if:
- you have asked for a re-structure of an existing loan
- if there are arrears on an existing loan
- if you have breached the limit on a credit card or overdraft
The Central Credit Register does not:
- decide if a loan is approved or not – the lender makes that decision;
- score or grade credit reports.
The Central Bank owns the information held on the Central Credit Register and is a data controller under the Data Protection Acts. Information submitted by lenders to the Central Credit Register is used to create individual credit reports. You have a right to request your credit report, free of charge at any time (subject to fair usage). Find out how to request your credit report or exercise any of your rights.