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Credit Report Codes


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A Credit Report can be a bit difficult to understand.

Here is a breakdown of the terminology and common codes used in credit reports.

Credit Reports Terms

Risk Models – One or more credit scores may appear here, along with reason codes. There are several different algorithms used to determine FICO scores.  Some of the most common are: FairIsaac 2.0 (used by Experian), Beacon 5.0 (used by Equifax),  FICO RiskScoreClassic 04 (used by TransUnion).

Safescan Alerts – A fraud prevention tool that compares consumer-provided information against a separate nationwide database. (Example: multiple Social security numbers used, Deceased, etc…)

OFAC Alert –  Provides a record of the check against the Office of Foreign Assets Control database for USA PATRIOT Act compliance.

Authorized User Alert – The alert parameters are set up on a case by case basis but typically, the alert is generated when 1. a consumer has 5 or more authorized user accounts on their credit report or 2. if the consumer’s Credit Report contains authorized user accounts comprising 25% or more of satisfactory open revolving accounts.

 

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Credit Report Rating Codes

Installment
Account
(fixed number
of payments

Revolving or
Option Account
(Open-ended)

Open Account
(30, 60, or 90-day
account.)

Meaning

I0

R0

O0

Too new to rate

I1

R1

O1

Pays account as agreed

I2

R2

O2

Not more than two payments past due

I3

R3

O3

Not more than three payments past due

I4

R4

O4

Not more than four payments past due

I5

R5

O5

More than 120 days or four payments past due

I7

R7

O7

Making regular payments under WEP.

I8

R8

O8

Repossession

I9

R9

O9

Bad debt; placed for collection

IA

RA

OA

Account is inactive

IB

RB

OB

Lost or stolen card

IC

RC

OC

Contact member for status

ID

RD

OD

Refinanced or renewed

IE

RE

OE

Consumer deceased

IF

RF

OF

In financial counseling

IG

RG

OG

Foreclosure process started

IH

RH

OH

In WEP of other party

IJ

RJ

OJ

Adjustment pending

IM

RM

OM

Included in Chapter 13

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Credit Report ECOA Codes

ECOA CodesDescription
AAuthorized User – This individual is an authorized user of this account; another individual has contractual responsibility
CJoint Account Contractual Responsibility – This individual is contractually obligated to repay all debts arising on this account. There are other people associated with this account who may or may not have contractual responsibility.
IIndividual – This individual has contractual responsibility for this account and is primarily responsible for its payment
MMaker (signer) – This individual is responsible for this account, which is guaranteed by a Co-maker (cosigner)
PShared Account – This individual participates in this account. The association cannot be distinguished between ECOA I or J
ScoSigner – This individual has guaranteed this account and assumes responsibility should signer default
TTerminated – Account is terminated
UUndesignated – This is reported by the Bureau only
XDeceased – the subject is on record as being dead.

 

Credit Report Public Record Codes

Code

Description

Code

Description

AB JD

Abstract Judgment (foreclosure, etc.).

PD CL

Paid collection ($50 and up)

BKRPT

Bankruptcy

SECLN

Secured loan

FINCL

Financial counselors

SP MT

Separate maintenance

FN ST

Financial statement filed

ST JD

Satisfied judgment (foreclosure, etc.).

FORCL

Foreclosure

SUDI

Suit dismissed

GARN

Garnishment

SUIT

Lawsuit

LIEN

Tax Lien

UP CL

Unpaid collection ($50 and up)

MAR

Martial items (divorce, etc.)

WEP

Wage earner plan

N/RES

Non-responsibility

Need More Help to Understand Your Credit Report?

If you have any questions about reading and understanding your credit report or would like to find out how Credit Firm can help you improve your credit score, please contact us.

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Credit Firm has helped clients remove thousands of Derogatory accounts from their credit reports including:

  • Collections
  • Late Payments
  • Charge-offs
  • Judgements
  • Tax Liens
  • Bankruptcy
  • Repossessions
  • Foreclosures
  • And many more…