Table of Contents
What do the codes mean on a credit report?
Credit Report Rating Codes
| Installment Account (fixed number of payments | Revolving or Option Account (Open-ended) | Meaning |
|---|---|---|
| I9 | R9 | Bad debt; placed for collection |
| IA | RA | Account is inactive |
| IB | RB | Lost or stolen card |
| IC | RC | Contact member for status |
What do the status codes mean on Experian?
Your Credit Reference Agency will typically use a status code to indicate what has happened with each account. If, for example, you have a credit card, your credit file will show payments over the last 36 months with a focus on the past 12 months payments. A status code of ‘1’ shows that a payment was one month late.
What does C mean on Experian credit report?
C = Current. 1 = 30 days past due date. 2 = 60 days past due date.
What does B mean on Experian?
9 = 66, 67, 68, 86, 88, 91, 92, 93, 97, A, B, C, E, F, G, V, W, X. 0 = Current with zero balance reported on tape. – = No history reported that month. B = Account condition change/Payment code is not. applicable.
What does Mo Rev mean on credit report?
number of months
MO Rev – number of months reviewed. • 30/60/90+ – number of times the account has been 30, 60, or 90 days or greater past due.
What does Grid Code G mean on Experian credit report?
Code G, found in the “consumer payment history” section of an Experian credit report, means that at least one account is in collections. This code is applied if the loan — possibly a credit card, car loan or line of credit — is so far past due the lender felt it necessary to turn the file over to a collection agency.
What does an 8 mean on a credit report?
FICO Score 8 is a base score, which means that it is used to consider the risk of a borrower not making payments on any type of loan. Other types of FICO Score are used for a specific type of borrowing, such as an auto loan.
What does BK 7 Petit mean?
BK 7-PETIT. Bankruptcy Chapter 7 (liquidation) Petition.
What does XP TU EF mean?
Yep, those are abbreviations for the credit reporting agencies; XP = Experian. TU = Transunion. EF = Equifax.
What does CLS mean on a credit report?
Credit Line Secured
CLS: Credit Line Secured When it appears in the “Purpose Type of Account” area of your Experian credit report, this code stands for “credit line secured.” 3.
What is the difference between FICO score 8 and 9?
FICO 9 is similar to FICO 8 but differs when it comes to collections and rent payments. Additionally, FICO 9 ignores accounts in collections that have a zero dollar balance. If you had a credit card account go to collections but later paid it off, FICO 9 will no longer use said collections account against your score.
Is Experian FICO 8 accurate?
It’s as accurate as it needs to be. If you have two years of positive payment history on a mix of revolving and installment accounts, aren’t applying for lots of new credit, and (I assume) not using much of your revolving credit lines, there’s not that much more to be gleaned from a credit report.