Reading Your Credit Bureau

O – Open Account

R – Revolving or option

I – Installment

0 – Too new to rate; Credit approved but not used

1 – Pays (or paid) within 30 days of billing; pays account as agreed

2 – Pays (or paid) in more than 30 days, but not more than 60 days, or not more than one payment past due.

3 – Pays (or paid) in more than 60 days, but not more than 90 days or two payments past due.

4 – Pays (or paid) in more than 90 days, but not more than 120 days, or three or more payments past due

5 – Account is at least 120 days overdue but is not yet rated 9. (Code 6 doesn’t exist)

7 – Making regular payments under a consolidation order or similar arrangement (eg. Debt Management Program)

8 – Repossession (indicate if it is a voluntary return) of merchandise by the consumer.

9 – Bad debt; placed for collection; skip