Posted on: 07th Aug, 2009 07:18 pm
What is the payment/identification code to identify a 30 day account on a credit report in case the credit report does not clearly state whether it is a revolving account or 30- day account or installment.
If you see the status as O1, then it means that payments are being made as agreed while O2 would mean not more than 2 payments past due. And if it O9, then it means a bad debt placed for collections
a 30-day account is considered to be open-ended; hence the "O" that is used by credit reporting agencies. many creditors, however, don't report such accounts in that fashion, and we don't know why.
not even relevant, but credit agencies show the following as a rule:
O-0, which would be "too new to rate;"
O-1, which means payments are being made current;
O-2, which means payments are 30 days late;
O-3, which means payments are 60 days late;
O-4, which means payments are 90 days late;
O-5, which means payments are 120 days late;
O-9, which means the account has been charged off/sent to collections.
there is no O-10 or beyond.
O-0, which would be "too new to rate;"
O-1, which means payments are being made current;
O-2, which means payments are 30 days late;
O-3, which means payments are 60 days late;
O-4, which means payments are 90 days late;
O-5, which means payments are 120 days late;
O-9, which means the account has been charged off/sent to collections.
there is no O-10 or beyond.
This is good information for common man
we don't have any "common" visitors to this website; all who visit are exceptional.
I guess that's what each one of them thinks.
May be that's self confidence
May be that's self confidence