What does a 9 mean on Experian credit report?
9 = 66, 67, 86, 88, 91, 92, 93, 97. N = Current account/zero balance — no update received for this trade. 0 = Current with Zero balance reported on tape. – = No history reported that month.
What does 9 mean on FICO score?
The FICO 9 credit scoring model includes rent payments, downplays medical debt and excludes paid collections. Your credit score is designed to reflect the risk in lending you money, and the FICO Score 9 is a better predictor of that risk, says Tommy Lee, principal scientist at FICO. …
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 is considered a good credit score?
Generally speaking, a credit score is a three-digit number ranging from 300 to 850. … Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.
What does BK 7 Petit mean?
BK 7-PETIT. Bankruptcy Chapter 7 (liquidation) Petition.
Is FICO score 9 GOOD OR BAD?
FICO Score 9 (also known as FICO 9 and FICO 9.0) is the latest edition of the widely regarded credit scoring models. It means good things for your credit score, although it is rolling out very slowly. It’s widely available, but not yet being used by most lenders.
Is FICO score 9 used for mortgage?
The FICO® Score versions used in mortgage lending and the more recently released versions, such as FICO® Score 9 and 10, have the same 300 to 850 range. VantageScore, a competing maker of credit scores, also uses that range for its latest VantageScore 3.0 and 4.0 model credit scores. … Pay down credit card balances.
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.
What is a status 8 on a credit report?
Status 8 on an account shows it to be in default. A default means you did not keep to your credit agreement and you have not responded to requests to bring your account up to date. A status 8 against one of your accounts on your credit report will make it difficult for you to arrange a mortgage with mainstream lenders.
What is a code 6 on a credit report?
Equifax, Experian, and TransUnion, share but not all reporting codes.
IN THIS ARTICLE:
|Common Credit Report Codes|
|6||Experian: 180 days past due|
|7||Equifax: Wage garnishment Experian: Chapter 13 bankruptcy TransUnion: Wage garnishment|
|8||Equifax & TransUnion: Repossession|
What is a serious delinquency?
A serious delinquency is when a single-family mortgage is 90 days or more past due and the bank considers the mortgage in danger of default. … A past-due mortgage is considered a sign to the lender that the mortgage is at high risk for defaulting.