What Can You Understand from Credit Report Codes?

How can you get your credit report?

Every borrower has the right to request one free copy of their credit report on a yearly basis from each of the three major credit bureaus. These three companies are Equifax, Experian, and TransUnion. To request your report from one or more of these bureaus, you should visit or call at:

• AnnualCreditReport.com
• (877) 322-8228

The website also has a physical address where you can mail a request for your credit report.

Learn more: How to Get a Free Credit Report?

How to read a credit report?

Upon receiving your credit report, it’s very likely that you will be confused by what has been sent to you. Perusing this massive file can be challenging considering the amount of codes and jargon that are used within the document. The best way to go about learning how to read this document is to understand the different sections:

1. Identifying Information: This first section will simply list all contact information that the credit bureaus have on file for you including your address, last four digits of your SSN, phone numbers, birthdate, and more. 
2. Adverse Accounts: As indicated by the name, the adverse accounts section contains information that would be damaging to your credit score. Any closed accounts, accounts sent to collections, or accounts that are delinquent will appear in this section.
3. Satisfactory Accounts: All of your previous or current accounts that are in good standing will be displayed in this section and contribute positively to your credit score. Each account will show the account type, credit limit, current balance (if applicable), and more. 
4. Public Records: Any financial matter of public record such as bankruptcy or foreclosure would be included in this section. 
5. Credit Inquiries: Finally, the credit inquiry section will show a record of recent hard and soft inquiries into your credit score. 

Each of these different sections will be shown on reports from each of the three bureaus, but the specific credit report codes and definitions will change depending on the bureau in question.

Learn more: How to read a credit report?

What do the credit report codes mean?

Depending on the section of your credit report you are actively viewing, the meaning behind a credit reporting code can change. Generally, however, credit reporting codes either indicate a status, category, or description, as defined by a letter, number, or combination of the two. For borrowers, the most relevant credit bureau reporting codes relate to the status of credit accounts. These codes vary depending on the specific bureau you’re looking at:

1. TransUnion

• 01: Account owner has been paying as agreed.
• 02: 30-59 days past the payment due date.
• 03: 60-89 days past the payment due date.
• 04: 90-119 days past the payment due date.
• 05: 120 days or more past the payment due date.
• 07: Paying or p aid under the Wage Earner Plan or something similar.
• 08: Repossession has occurred. 
• 8A: Voluntary repossession has occurred 
• 8P: The account is paid or being paid with MOP 08
• 09: Account has been charged off to bad debt. 
• 9B: Collections account.
• 9P: The account is paid or being paid with MOP 09 or 9B.
• UR: Unrated account

2. Experian

• 71: The account is 30 days past the due date.
• 72: The account is 30 days past the due date two times.
• 73: The account is 30 days past the due date three times.
• 74: The account is 30 days past the due date four times.
• 75: The account is 30 days past the due date five times.
• 76: The account is 30 days past the due date six or more times.
• 77: The account 30 days past due date was 60 days past due.
• 22: The account is 60 days past due two times.
• 23: The account is 60 days past due three times.
• 24: The account is 60 days past due four or more times.
• 25: The account is 90 days past due two times.
• 26: The account is 90 days past due three or more times.
• 29: The account 90 days past due was 120 days or more past due.
• 27: The account is 120 days past due two times.
• 28: The account is 120 days past due two or more times.
• 86: The account is now paying or was a charge-off.
• 11: The account is in good standing.
• 31: The current account was 30 days past due date. 
• 32: The current account was 30 days past due date two times.
• 33: The current account was 30 days past due date three times.
• 34: The current account was 30 days past due date four times.
• 35: The current account was 30 days past due date five times.
• 36: The current account was 30 days past due date six times.
• 37: The current account was 60 days past due date.
• 07: The current account was 60 days past due date two times.
• 08: The current account was 60 days past due date three times.
• 09: The current account was 60 days past due date four or more times.
• 38: The current account was 90 days past due date.
• 14: The current account was 90 days past due date two times.
• 15: The current account was 90 days past due date three or more times.
• 39: The current account was 120 days past due date.
• 16: The current account was 120 days past due date two or more times.
• 40: The current account was 150 days past due date.
• 17: The current account was 150 days past due date two or more times.
• 41: The current account was 180 days past due date.
• 43: The current account was a collection account, insurance claim, government claim, or terminated for default.
• 45: The current account has had a foreclosure process started. 
• 78: The delinquent account was 60 days past due. 
• 80: The delinquent account was 90 days past due.
• 82: The delinquent account was 120 days past due.
• 83: The delinquent account was 150 days past due.
• 84: The delinquent account was 180 days past due.
• 79: The delinquent account was 30 or 60 days past due and was 90 days past due. 
• 81: The delinquent account was 30 or 60 days past due and was 120 days past due.
• 00: No status.
• 42: The account is now redeemed or was a repossession. 

3. Equifax

• 0: The account is too new to receive a rating. 
• 1: Pays or paid within 30 days of the payment due date or not over the due date. 
• 2: Pays in more than 30 days from the payment due date but not past 60 days.
• 3: Pays in more than 60 days from the payment due date but not past 90 days.
• 4: Pays in more than 90 days from the payment due date but not past 120 days.
• 5: Account is at least 120 days overdue.
• 7: A person is making regular payments under an order of consolidation or something similar
• 8: Repossession on the account has occurred
• 9: Bad debt account that has been placed for collections

What are the differences between the three credit reports?

While all of the above payment status codes can be confusing to follow, understanding how to read credit report codes is extremely important. The only difference between the three types of credit reports you would receive is that the specific number may mean something different depending on the bureau whose report you’re reading.

Additionally, each bureau may use a different letter to indicate a different industry or account type. However, when reading credit report codes, you likely noticed that there were a large number of overlaps between the codes, which is done to keep things easier to understand.

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