What is status 6 on 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.
What is a status 8 on a credit report
Status 8 means the account has gone in to Default. That means you have missed 6 consecutive payments and the account has been closed as it is in Default. These type of statuses on a credit report are quite serious when looking at applying for a Mortgage.
What are account statuses on credit report
Account Status: An indicator of whether a credit account is open or closed and your payment behavior at the time of the last update reported by the lender or creditor.
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What are the codes on a credit report
Credit Report 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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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.
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 a 9 on a credit report
With FICO® Score 9, rental history is now factored into these credit scores when landlords directly report the payments to one or all of the credit bureaus. Before this newest version, rental history was simply not factored into your FICO® credit scores.
What does a 9 rating mean on credit report
poorest rating
Credit ratings are based on a scale from 1, which is the best rating and means you pay your bills within 30 days of the billing date, to 9, which is the poorest rating, which could mean you never pay your debts at all, you've been placed for collection, or you have filed for bankruptcy.
What is code 5 on credit report
5 Co-maker or Guarantor (This consumer is the co-maker or guarantor for this account, who becomes liable if the maker defaults.)
What is account status code 13
13 – Paid or closed account/zero balance. 61 – Account paid in full, was a voluntary surrender. 62 – Account paid in full, was a collection account. 63 – Account paid in full, was repossession.
What is code 7 on credit report
Chapter 7 bankruptcy dismissed. Chapter 11 bankruptcy dismissed. Chapter 12 bankruptcy dismissed.
Is 6 a good FICO score
The base FICO® Scores range from 300 to 850, and a good credit score is between 670 and 739 within that range.
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.
Which is better FICO score 8 or 9
Though the FICO® Score 9 is an updated version of FICO® Score 8, the FICO® Score 8 is still the most widely used base score by lenders, meaning that, while you may have a better credit score from the FICO® Score 9 model, lenders are more likely to still use the previous version.
What is FICO score 5
FICO Score 5 is a scoring model that is commonly used by lenders in the mortgage and auto loan businesses. Your FICO 5 score is based on the information in your credit history, weighted like this: Payment history (35%) Accounts under your name (30%)
Is 7 a good credit rating
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 is decline code 5
List of common credit card declined codes. 05 / Do not honor: The customer's bank won't let this payment go through. To resolve the problem, ask the customer to contact their bank and then try again. 14 / Invalid card number: There might be a typo somewhere.
What is transaction error code 6
Transaction Response 06 – Error
The customer's card issuer has declined the transaction as there is a problem with the card number. The customer should contact their card issuer and/or use an alternate card.
What is account status code 11
Valid codes are: NOTE: Third Party Collections/Factoring/Debt Purchasing Companies and Attorneys may only use codes 62, 93, and DA or DF. 05 – Account transferred to another office. 11 – Current Account (0-29 days past the due date).
What is credit card decline code 06
Transaction Response 06 – Error
The customer's card issuer has declined the transaction as there is a problem with the card number. The customer should contact their card issuer and/or use an alternate card.