MBNA & ICB Report?

[Reive]

I have a credit card with MBNA and I've applied for a loan.
Does anyone know exactly what shows up on the report?

 

[Ann-Marie]

it shows if there is any payments missed/ if the card was revoked if it was cancelled etc

 

[ClubMan]

See for more on the ICB and the records that they keep.

 

[Reive]

Does it give your balance?

 

[Molly]

No, in fact its not even likely to show on ICB, unless as previously stated there have been missed paymnents and the card has been cancelled or revoked and/ or judgement registered.

 

[Reive]

thanks !!

 

[Thrifty]

What about a short settlement on a credit card. I saw it mentioned before but can't remember whether its registered or not.

 

[bond-007]

What gives banks etc the right to give your information to the ICB. They sound like a "big brother". Can a person tell the ICB to delete their information, if they don't want/give consent for them to have it?

 

[ClubMan]

What gives banks etc the right to give your information to the ICB.

As far as I know most or all credit agreements include a clause under which the borrower agrees for their credit history details to be passed onto the ICB where appropriate. Once you sign such an agreement you agree to the terms & conditions.

They sound like a "big brother".

Perhaps - but then again these records help financial institutions (to engage in prudential lending practices by assessing the possible risk involved in lending to certain individuals) and is arguably to the benefit of the institutions, their shareholders (including many individuals who invest directly or indirectly - e.g. through their pension or other unit linked funds - in shares in these institutions) as well as customers of these institutions (e.g. prudent lending practices should help keep costs arising from bad debts low on other customers).

Can a person tell the ICB to delete their information, if they don't want/give consent for them to have it?

See my first point. I guess the only way to avoid the ICB retaining information about you is to never sign such a credit agreement.

 

[bond-007]

Never seen such a clause, but I'll take your word for it.

 

[ClubMan]

I could be wrong but I think that it is a standard clause in credit agreements to allow the lender to pass information onto the ICB. If you have one handy check it out. I'll have a look at home later if I get a chance.

 

[GreatDane]

Hi

I've heard a story (from very good authority) that MBNA often show your card as "cancelled" on the ICB report when you actually cancel it & clear the balance in the correct manner etc.

However, the suggestion on ICB implies that MBNA cancelled it, which can lead to a serious misunderstanding possibly occuring.

If you have any problems, run an ICB on yourself & check this out !

Cheers

G>
http://www.rpoints.com/newbie

 

[jhegarty]

Hi

I've heard a story (from very good authority) that MBNA often show your card as "cancelled" on the ICB report when you actually cancel it & clear the balance in the correct manner etc.

However, the suggestion on ICB implies that MBNA cancelled it, which can lead to a serious misunderstanding possibly occuring.

If you have any problems, run an ICB on yourself & check this out !

Cheers

G>
http://www.rpoints.com/newbie

i would imagine we could all sue if they were doing that....

 

[tml]

Yes I have seen it before with MBNA that when you actually cancel your card it comes up as a revoked card on the ICB, MBNA will give you a letter of explanation but they make it as awkward as possible to get one!

and most lenders have a section on their declarations or application forms where the client signs to give their consent to credit checks ( if its not signed a lot of lenders will not process an application)