When it comes to credit cards, the term “high balance” is found on Experian and TransUnion credit reports, while Equifax uses “high credit.” This represents the highest balance or highest amount of credit ever used on your credit card.
What does BB mean on credit report?
More serious arrears
BB – More serious arrears, status 3 to 6, meaning the payments are 3 to 6 months late. DF – Account is in default, payments have not been made and the lender/provider has defaulted the account. DA – Debt has been passed to a collection agency.
What are the ECOA codes on a credit report?
Interpreting the ECOA Codes on Your Credit Reports
- A – Authorized User.
- I – Individual Account.
- J – Joint Account.
- M – Maker.
- P – Participating Account.
- S – Signer.
- T – Terminated.
- U – Undesignated.
What is highest recent credit?
Recent High Credit shows the highest account balance with the reporting firm in the last twelve months.
Is BB a good credit score?
Ba2/BB are credit ratings just below investment grade, considered more speculative. Ba2 falls above the Ba3 rating and below Ba1, while BB is above BB- and below BB+.
What does a 9 mean on a credit report?
These usually appear on the right hand side of the document under your credit accounts and shows your payments for a period of time relating to each account. After that you receive a code “9” which means the account has gone to collections.
What does a 7 mean on a credit report?
Version 7 — Alpha. *An asterisk indicates there may be a need for further review. Account.
What does high credit mean on a credit report?
If you are approved, the “high credit” notation on your credit report will update to reflect the new limit. Going over your credit limit will leave you with a high debt-to-limit ratio and damage your credit score.
What are the codes on a credit report?
Here is a breakdown of the terminology and common codes used in credit reports. Risk Models – One or more credit scores may appear here, along with reason codes. There are several different algorithms used to determine FICO scores.
What does the summary section of a credit report show?
The credit summary section of your credit report summarizes information about the different types of accounts you have. This section lists the total number of accounts you have along with the balance. It also lists the number of current and delinquent accounts.
What does U stand for on credit report?
U stands for ‘Unclassified’. It is often the status recorded when an account is newly opened and the lender does not have any other activity to report on the account. U markers are neutral, so are not regarded positively or negatively by lenders.
