Knowledge is power! Understanding your credit and your credit report is a valuable
tool in your journey to great credit.
Each item on a credit report carries a corresponding rating number that
summarizes your account status. This information will help you to understand the
account status of accounts on a credit report.
R-Revolving Account-A credit account that is charged and once paid can be used
over and over. A revolving balance.
I-Installment Account-A credit account that you pay a pre-set monthly payment and
pay off the balance over time.
00-Not rated, to new to rate, or approved but not used
01 - Pays as agreed
02 - 30-59 days past due date, late more than 30 days but less than 60
03 - 60-89 days past due date, late more than 60days, but less than 90
04 – 90-119 days past due date, late more than 90 days but less than 120
05 – 120 days past the due date
06 – 150 days past the due date
07 – 180 days late, paying or paid under Wage Earner Plan
08 – Repossession
08A – Voluntary Repossession
09 – Charge off to bad debt, collection, charge off, bankruptcy, included in
bankruptcy, judgment, lien, foreclosure