Credit Report Score Meanings
2010
What does the status column mean in a credit report?
I received my credit report to buy a house and in the status column, I see Paid, Collection, Bankruptcy, and Charge off. I am really trying to figure out if the charge off will lower my credit score. The meanings are obvious but i guess I am trying to figure out what each item does for your score.
The codes under the status column are XP, TU, EF. they are either together or a combination of different sets. What do those mean?
This is where the account stands as of the report date. Some CRA’s will explain it in english, others may use codes. Here are the explanations to the codes.
O = Open (entire balance due each month)
R = Revolving (amount due can change each month)
I = Installment (fixed amount due each month)
0 = Approved, but account is too new to rate or not yet used
1 = Paid as agreed
2 = 30 or more days past due
3 = 60 or more days past due
4 = 90 or more days past due
5 = 120 or more days past due or is a collection account
7 = Making regular payments under a wage earner plan or other arrangement
8 = Repossession
9 = Charged off account
Therefore, based on the above, you could quickly go down the relevant column in your credit file and the following alphanumeric combinations would be indications you have an excellent payment history: O1, R1 or I1. Of course, you don’t want to find anything that ends in 2, 3, 4, 5, 7, 8 or 9.
Hope this answers your question.
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