What does 6 mean on Equifax credit report?
What does 6 mean on a credit report
2, 3, 4, 5, and 6 follow on in a very straight forward pattern – the recorded number will increase consecutively with each missed monthly payment. Any of these statuses count as arrears. The higher the number, the more serious the arrears and the more serious the impact on your Credit Report and score.
Is 6 a bad credit score
Here's how the FICO credit scoring system ranks credit scores: Poor: 300-579. Fair: 580-669. Good: 670-739.
Is 6 a good credit score
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.
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What are the codes in Equifax report
Equifax Trade Check Rating Codes
| Installment Account (fixed number of payments | Revolving or Option Account (Open-ended) | Meaning |
|---|---|---|
| I1 | R1 | Pays account as agreed |
| I2 | R2 | Not more than two payments past due |
| I3 | R3 | Not more than three payments past due |
| I4 | R4 | Not more than four payments past due |
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What are the 6 levels of a credit score rating
A score of 720 or higher is generally considered excellent credit. A score of 690 to 719 is considered good credit. Scores of 630 to 689 are fair credit. And scores of 629 or below are bad credit.
What is worst payment status
Description. Your credit file is showing an account with a payment that was at least 30 days late and/or on which a lender has reported a derogatory status. Late payments are a proven indicator of increased risk. People with late payments are at risk of being overextended, putting existing credit with lenders at risk.
What is lowest good credit score
What is a good credit score range800 and above: excellent.740 to 799: very good.670 to 739: good.580 to 669: fair.579 and below: poor.
What is the lowest credit score
Most of the credit scores that lenders use in the United States, including most versions of the FICO Score, range from 300 to 850. Therefore, most financial professionals generally accept that 300 is the lowest credit score a consumer can have.
What does a credit score of 4 mean
A tier 4 credit score is generally considered lower-tier credit. Those who have fallen victim to predatory funding options, like easy payday loans, or those who have suffered other financial hardships may find themselves with tier 4 credit.
What is Code 5 on Equifax
4 – Pays (or paid) in more than 90 days from payment due date, but not more than 120 days, or four payments past due. 5 – Account is at least 120 days overdue but is not yet rated “9.
What does 0 mean on Equifax credit report
The scores are explained below: O: Account paid on time. 1: 0-29 days overdue. 2: 30-50 days overdue. 3: 60-89 days overdue.
What is Equifax score range
from 280-850
What are the Equifax credit score ranges The Equifax Credit Score ranges from 280-850. It is calculated using information in your Equifax credit report. The Equifax credit score is an educational credit score designed to give you an idea of where your credit stands.
How accurate is Equifax on Credit Karma
Here's the short answer: The credit scores and reports you see on Credit Karma come directly from TransUnion and Equifax, two of the three major consumer credit bureaus. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus.
What does 4 mean on credit report
A tier 4 credit score is generally considered lower-tier credit. Those who have fallen victim to predatory funding options, like easy payday loans, or those who have suffered other financial hardships may find themselves with tier 4 credit.
What do the numbers mean on a credit report
Credit score ranges and what they mean will vary based on the scoring model used to calculate them, but they are generally similar to the following: 300-579: Poor. 580-669: Fair. 670-739: Good. 740-799: Very good.
Is a credit score of 0 good or bad
There's no such thing as a zero score. Having “no score” simply means you don't have any number tied to your credit profile. You can be absent from the scoring model if you've never had a credit card or loan, or if you haven't used credit in a long time.
How bad is a credit score of 0
But your credit score won't start at zero, because there's no such thing as a zero credit score. The lowest score you can have is a 300, but if you make responsible financial decisions from the beginning, your starting credit score is more likely to be between 500 and 700.
What does a FICO score of 9 mean
FICO Score 9 is more predictive of a consumer's likelihood to repay a debt than previous FICO Scores. It gives lenders the strongest possible risk assessment for today's consumer credit behavior, improved operational efficiencies and support for meeting regulatory compliance.
What is credit score 1 or 0
The score '0' depicts that your credit history of the past 6 months and less is available, while the score '-1' means there is no information on credit history, thus also known as 'no history' or 'NH'. Most banks and NBFCs do not lend to those with a score of 0 or -1.
What does a 9 mean on a credit report
O9. Bad debt; placed for collection.