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Credit Glossary - what all those terms mean

waalien

By waalien,
in Beginner's Credit Information

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waalien

waalien

Posted
Posted (edited)
Credit Report Account Ratings

I=Installment R=Revolving

0 Too new to rate

1 Pays account as agreed

2 Not more than two payments past due

3 Not more than three payments past due

4 Not more than four payments past due

5 At least 120 days or more than for payments past due

7 Making regular payments under W.E.P

8 Repossession

9 Bad Debt; placed for collection; skip

  • <bump> used by someone when they are looking for an answer to the thread, but have not received one yet, and the thread itself is getting pushed back to the second page, where members are less likely to see/read it.Feel free to "bump" your post to the top by replying to your own message and typing <bump> in the body of your reply.

  • AA Adverse Action. Account closure, interest rate increase or Credit limit decrease from a credit issuer.
  • A.G. - State Attorney General
  • AU - Authorized User
  • B - Bump (See <bump>)
  • Baddies - Negative information on your credit report.
  • Beacon - See FICO.
  • BBB - Better Business Bureau
  • BK7 - Chapter 7 Bankruptcy
  • BK13 - Chapter 13 Bankruptcy
  • Blanket C & D - Notice not to contact in ANY way. You should only use if SOL is out.
  • BT - Balance Transfer.
  • BT promo - A BT at a promotional rate.
  • BTW - By the way
  • <bump> - used by someone when they are looking for an answer to the thread, but have not received
  • one yet, and the thread itself is getting pushed back to the second page, where members are less likely
  • to see/read it. Feel free to "bump" your post to the top by replying to your own message and typing
  • <bump> in the body of your reply.
  • Bumpage - Pull your own credit report multiple times to �bump� hard inquiries off your report.
  • C & D - Cease & Desist
  • CA - Collection Agency
  • CAP 1 - Capital One
  • CC - Credit Card.
  • CCC - Credit Card Company
  • CCCS - Consumer Credit Counseling Services
  • CE Score - CreditExpert score.
  • CFPB - Consumer Financial Protection Bureau
  • Ch - Chapter
  • C.H.O.D CreditNet Holiday Onslaught of Disputes
  • Choppage - A Credit Reporting Agency will stop �chop� your inquiries before they reach the required
  • �bumpage� number to delete hard inquiries.
  • Citi Backdoor Double - Rapidly applying for multiple Citibank CC products with the intention of combining their CL's. No longer effective?
  • CL - Credit limit.
  • CLOAKING/SUPPRESSED - The CRA won't "EVER" let the information be put back on your report by the credit card or loan company or the collection agency.
  • CLOD - Creditnet Laborday Onslaught of Disputes
  • CO - charge off
  • CR - Credit Report
  • CRA's - Credit Reporting Agency
  • CRRR - Certified mail, Return Receipt Requested
  • C.S.O.D. - CreditNet Summer Onslaught of Disputes
  • CW - Credit Watch, a monitoring service offered by Equifax
  • Derog - Derogatory tradeline = an item on your credit file that is negative in any way.
  • DH - Dear Husband
  • DOLA - Date of Last activity
  • DOFD - Date of first delinquency
  • DV - Dispute & validate
  • DW - Dear Wife
  • EQ - Equifax. Another CRA.
  • Estoppel - Precludes someone from denying the truth of a fact which has been determined in an official proceeding or by an authoritative body.
  • Estoppel Letter - See www.creditboards.com/index.php?showtopic=16439 and

    www.creditboards.com/index.php?showtopic=8806 for examples.

  • EXP (or EX) - Experian. Another CRA.
  • Experica - Similar to FICO, as reported by Trans Union.
  • EO - Executive Office
  • Fair Isaac - Similar to FICO, as reported by Experian.
  • FAKO - Similar to FICO score only done by a CRA--FAKE SCORES.
  • FCBA - Fair Credit Billing Act
  • FCRA - Fair Credit Reporting Act
  • FDCPA - Fair Debt Collection Practices Act
  • FICO score - Fair Isaac. Also known as.... BEACON. 500's: You have a lot of work to do. 600's: You're not done yet. 700's: You're golden. 800's: You're God.
  • FIFO - First In, First Out. Usually refers to how your letters are answered.
  • FTC - Federal Trade Commission.
  • GC - Green Card from Certified Mail
  • Goodwill adjustment - Adjustment made to your credit report in response to your Goodwill letter.
  • Goodwill letter - correspondence or letter created by Marci to get late payments removed, due to some unfortunate event in your life that caused the late payments, from your current and positive tradelines.
  • "Hard" Inquiry - Inquiry visible to others and counted in your credit score.
  • HUCA hang up call again
  • I I B - Included in Bankruptcy.
  • IMHO - In My Humble Opinion
  • IP - Internet Provider or (I)nternet (P)rotocol address
  • ITS - Intent to Sue
  • JDB - Junk Debt Buyer or Bad Debt Buyer
  • junami- a weekend in September 2007 where Barclay's Bank (Formerly Juniper) changed their approval standards -some believe accidentally- resulting in a large wave of applications and approvals. Some of those approvals were rescinded within hours and the new account closed.
  • junarama- Applying for and being approved (even if temporarily) for multiple Juniper cards during the "Junami"
  • Limited C & D - You are only to be contacted by mail.
  • Litigious Nutcase Letter - A letter written by PsychDoc that you can use to make yourself look like a
  • lawsuit-happy whacko in an attempt to make paid
  • collection/charge-off tradelines disappear for good! Best when notarized and sent via certified mail for maximum psychological effect (why do you think he's called PsychDoc?!?)
  • LOC - Line of credit.
  • LOL - laughing out loud
  • NCO - A collection agency many people find difficult to deal with.
  • Mr. Cooke - Cap One Representative. Works wonders for many people. Now either retired or in a different department, no longer available for consumer contact.
  • OC - original creditor
  • OCR-Optical Character Recognition -http://en.wikipedia.org/wiki/Optical_character_recognition
  • OCR-(Medical)-Office for Civil Rights
  • OT - Off Topic
  • PFB - Planetfeedback.com. A nifty site that will hold your hand through the process of writing an electronically submitted feedback letter to faceless corporations and optionally share them with the general public.
  • PG - Privacy Guard is an agency that provides online credit reports, credit monitoring and credit advice for a fee.
  • PHR - Pre HIPPA Response
  • PITA - Pain In the A$$
  • PP - Permissible Purpose
  • PR - Pull Report or Procedural Request
  • "R" - A lender's Retention department.
  • RMA - Risk Management Alternatives
  • ROFLMAO! - (rolling on the floor laughing my flowers off)
  • SO - Significant Other
  • SOCK DRAWER - Where you put CC's that you won't be using for a while, for whatever reason, usually due to the CCC not playing nice.
  • "Soft Inquiry" - inquiry not seen by others and not counted in your score
  • SOL - Statute of Limitation: statutorily set maximum time periods during which lawsuits can be brought to enforce rights. After the time period set out in the applicable statute of limitations has run (expired), no legal action can be brought.
  • "THEFTED" Having your credit limits reduced severely or chopped to zero, normally by AMEX.
  • "TOY CARD" When a credit card company gives you an 80% lower credit limit, THAN YOUR CURRENT LOWEST CREDIT LIMIT...
  • Tradeline - An entry in your credit history.
  • TTT To The Top- bumping a post back to the top of the page.
  • TU - Trans Union. A CRA.
  • UDF - Universal Data Form. Its the form that the subscribers (collectors, creditors, etc.) to the CRAs use to update/delete tradelines.
  • YMMV - Your mileage may vary
  • WK - worthknowing.com - free TU credit report. No longer in business.

updated 04/09 Radi8

Updated 10/2013 - Stroked89Coupe

Edited by breeze
Updated List
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breeze

breeze

Posted
  • Admin
Posted

Before you dispute anything, opt out. 1-888-5OPT OUT

I don't recommend that people try repair with debts that are still within SOL, but many here do it. The problem is, you could still get sued and lose. Be very careful. Start a thread in the credit forum with more info and you will get other's advice and opinions.

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pryan67

pryan67

Posted
Posted
UYGF

 

Unless You're George Factor

 

 

For example...

 

a person with a 750 FICO, 10% utilization, 25 year history, NO baddies can qualify for a 10,000 dollar Chase Visa....Unless You're George...in which case you won't qualify

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SassyinAz

SassyinAz

Posted
Posted

For ironrod:

 

What is B?

 

B = bumpage

 

Search on PG* and bumpage and PG* and trick.

 

PG = Privacy Guard

 

See thread titled (in this same forum), Everything you wanted to know about bumpage and then some.

 

Sassy

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mountaindarlin

mountaindarlin

Posted
Posted

GLOSSERY UP-DATE

Thanx WAALIEN for the original!!

 

Credit Report Account Ratings

I=Installment

R=Revolving

0 Too new to rate

1 Pays account as agreed

2 Not more than two payments past due

3 Not more than three payments past due

4 Not more than four payments past due

5 At least 120 days or more than for payments past due

7 Making regular payments under W.E.P

8 Repossession

9 Bad Debt; placed for collection; skip

 

A.G. - State Attorney General

AU - Authorized User

B - Bump (See <bump>)

Baddies - Negative information on your credit report.

Beacon - See FICO.

BBB - Better Business Bureau

BK7 - Chapter 7 Bankruptcy

BK13 - Chapter 13 Bankruptcy

Blanket C & D - Notice not to contact in ANY way. You should only use if SOL is out.

BT - Balance Transfer.

BT promo - A BT at a promotional rate.

BTW - By the way

<bump> - used by someone when they are looking for an answer to the thread, but have not received one yet, and the thread itself is getting pushed back to the second page, where members are less likely to see/read it. Feel free to "bump" your post to the top by replying to your own message and typing <bump> in the body of your reply.

Bumpage - Pull your own credit report multiple times to “bump” hard inquiries off your report.

C & D - Cease & Desist

CA - Collection Agency

CAP 1 - Capital One

CC - Credit Card.

CCC - Credit Card Company

CCCS - Consumer Credit Counseling Services

CE Score - CreditExpert score.

Ch - Chapter

C.H.O.D CreditNet Holiday Onslaught of Disputes

Choppage - A Credit Reporting Agency will stop “chop” your inquiries before they reach the required “bumpage” number to delete hard inquiries.

Citi Backdoor Double - Rapidly applying for multiple Citibank CC products with the intention of combining their CL's. No longer effective?

CL - Credit limit.

CLOAKING/SUPPRESSED - The CRA won't "EVER" let the information be put back on your report by the credit card or loan company or the collection agency.

CLOD - Creditnet Laborday Onslaught of Disputes

CO - charge off

CR - Credit Report

CRA's - Credit Reporting Agency

CRRR - Certified mail, Return Receipt Requested

C.S.O.D. - CreditNet Summer Onslaught of Disputes

CW - Credit Watch, a monitoring service offered by Equifax

derog - Derogatory tradeline = an item on your credit file that is negative in any way.

DH - Dear Husband

DOLA - Date of Last activity

DV - Dispute & validate

DW - Dear Wife

EQ - Equifax. Another CRA.

Estoppel - Precludes someone from denying the truth of a fact which has been determined in an official proceeding or by an authoritative body.

Estoppel Letter - See www.creditboards.com/index.php?showtopic=16439 and

www.creditboards.com/index.php?showtopic=8806 for examples.

EXP (or EX) - Experian. Another CRA.

Experica - Similar to FICO, as reported by Trans Union.

Fair Isaac - Similar to FICO, as reported by Experian.

FAKO - Similar to FICO score only done by a CRA--FAKE SCORES.

FCBA - Fair Credit Billing Act

FCRA - Fair Credit Reporting Act

FDCPA - Fair Debt Collection Practices Act

FICO score - Fair Isaac. Also known as.... BEACON. 500's: You have a lot of work to do. 600's: You're not done yet. 700's: You're golden. 800's: You're God.

FIFO - First In, First Out. Usually refers to how your letters are answered.

FTC - Federal Trade Commission.

GC - Green Card from Certified Mail

Goodwill adjustment - Adjustment made to your credit report in response to your Goodwill letter.

Goodwill letter - correspondence or letter created by Marci to get late payments removed, due to some unfortunate event in your life that caused the late payments, from your current and positive tradelines.

"Hard" Inquiry - Inquiry visible to others and counted in your credit score.

I I B - Included in Bankruptcy.

IMHO - In My Humble Opinion

IP - Internet Provider

ITS - Intent to Sue

JDB - Junk Debt Buyer or Bad Debt Buyer

Limited C & D - You are only to be contacted by mail.

Litigious Nutcase Letter - A letter written by PsychDoc that you can use to make yourself look like a lawsuit-happy whacko in an attempt to make paid

collection/charge-off tradelines disappear for good! Best when notarized and sent via certified mail for maximum psychological effect (why do you think he's called PsychDoc?!?)

LOC - Line of credit.

LOL - laughing out loud

NCO - A collection agency many people find difficult to deal with.

Mr. Cooke - Cap One Representative. Works wonders for many people.

OC - original creditor

OT - Off Topic

PFB - Planetfeedback.com. A nifty site that will hold your hand through the process of writing an electronically submitted feedback letter to faceless corporations and optionally share them with the general public.

PG - Privacy Guard is an agency that provides online credit reports, credit monitoring and credit advice for a fee.

PITA - Pain In the A$$

PP - Permissible Purpose

PR - Pull Report or Procedural Request

"R" - A lender's Retention department.

RMA - Risk Management Alternatives

ROFLMAO! - (rolling on the floor laughing my flowers off)

SO - Significant Other

SOCK DRAWER - Where you put CC's that you won't be using for a while, for whatever reason, usually due to the CCC not playing nice.

"Soft Inquiry" - inquiry not seen by others and not counted in your score

SOL - Statute of Limitation: statutorily set maximum time periods during which lawsuits can be brought to enforce rights. After the time period set out in the applicable statute of limitations has run (expired), no legal action can be brought.

"TOY CARD" When a credit card company gives you an 80% lower credit limit, THAN YOUR CURRENT LOWEST CREDIT LIMIT...

Tradeline - An entry in your credit history.

TU - Trans Union. A CRA.

UDF - Universal Data Form. Its the form that the subscribers (collectors, creditors, etc.) to the CRAs use to update/delete tradelines.

YMMV - Your mileage may vary

WK - worthknowing.com - free TU credit report.

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