Credit Report Codes at a Glance

Credit Report Codes at a Glance
Mark CappelJul 23, 2012
Key Takeaways:
  • Equifax, Experian, and TransUnion, share but not all reporting codes.
  • Learn how each credit bureau reports delinquent accounts.
  • Bookmark this page to find this handy resource.
My Credit Report Contains a Code I Can't Figure Out. Can You Help?

My car was repossessed in November 2011. I had one year of payments left on a 6-year loan. A few weeks later, I received a check for $500 from HSBC, the lender. I assumed that was because the car was auctioned for over the principal amount of the loan outstanding. I have never received any bills or letters stating I owed any more. I recently checked my credit on Experian, and saw that HSBC keeps reporting "KB" for that loan. What should I do?

Here is a table containing known codes that appear on credit reports:

Common Credit Report Codes
CodeDescription
Blank indicates no data reported
0Not rated, too new to rate
1Equifax: As agreed Experian: 30 days past due TransUnion: As agreed
2Equifax: 2 payments late Experian: 60 days past due TransUnion: 30-59 days late
3Equifax: 3 payments late Experian: 90 days past due TransUnion: 60-89 days late
4Equifax: 4 payments late Experian: 120 days past due TransUnion: 90-119 days late
5Equifax: 120+ days late Experian: 150 days past due TransUnion: 120+ days late
6Experian: 180 days past due
7Equifax: Wage garnishment Experian: Chapter 13 bankruptcy TransUnion: Wage garnishment
8Equifax & TransUnion: Repossession
8AVoluntary repossession
8DLegal repossession
8RRedeemed repossession
09Charged off to bad debt
9BCollection account
9Discharged in bankruptcy, or Charge off
13Chapter 13 bankruptcy
AAuthorized user on the account, or Inactive, or Automated date, or Automotive business classification
BExperian: Account condition change TransUnion: Lost/stolen cards Bank business classification
CAccount is current, or Co-signer on account with payment liability, or Line of Credit account, or Date closed, or Clothing business classification
DDeclined date, or Refinances, or Dept. Store business classification
EDeceased, or Employment business classification
FRepossessed/Written Off/Collection date, or Financial counseling, or Personal finance business classification
GAccount in collection, or Grocery store business classification
HWage garnishment from someone other than the account holder, or Foreclosure, or Home Furnishings business classification
IIndividual account, or Installment account, or Indirect date, or Insurance business classification
JVoluntary repossession, or Joint account, or Jewelry, camera, Computer business classification, or Pending adjustment
KExperian: Repossession, or Contractor business classification
LCharge off or write-off, or Lumber/Hardware business classification
MMaker of the account, or Maker of account with co-signer who shares liability, or Mortgage, or Manually frozen date, or Medical business classification, or Chapter 13 filing
NCurrent, zero balance & no updates from creditor, or No record date, or Credit card/Travel/Entertainment business classification
OCurrent, zero balance & updates from creditor, or Oil Company business classification
PParticipant in shared account that cannot be distinguished as C or A, or Paid-out date, or Personal Services business classification
QFinance Company business classification
RRevolving account, or Reported date, or Real Estate business classification
SShared account, or Slow answering date, or Sporting Goods business classification
TAccount terminated, or Temporarily frozen date, or Farm & Garden Supplies business classification
UUnknown account ownership responsibility, or Utilities & Fuel business classification
UCUnclassified
URUnrated
VVerified date, or Government business classification
WWholesale business classification
XDeceased, or No reply date, or Advertising business classification
YCollection business classification
ZMiscellaneous business classification

Credit Score Codes

You mentioned Experian. According the information we could find about Experian’s reporting habits, a "K" indicates a repossession. A "B" in Experian-speak signifies an account change. We could not find a "KB," however, even in this Experian Glossary of Account Conditions and Payment Status (PDF). Therefore, we cannot say what KB means, and how it varies from an ordinary K.

Credit Reporting

Under the Fair Credit Reporting Act, most derogatories, including repossessions, can be reported on a credit report for 7½ years. You mentioned the repossession occurred in November 2011, which means it will be reported until late 2018 or early 2019.

You asked what to do. At this point, you have little leverage with the creditor to ask it to remove the derogatory from your credit report. One option is to contact someone in authority at the vehicle loan unit at HSBC and ask for a "goodwill" deletion of the derogatory. It may do so to try to win you over as a customer, or it may ignore your request. It has no legal obligation to honor your deletion request.

If a goodwill request fails, then you will have to work on building the positive aspects of your credit report so that these outweigh your negative. See the Bills.com article 7 Techniques to Improve Your Credit Score to learn how to add muscle to your credit report.

I hope this information helps you Find. Learn & Save.

Best,

Bill

Bills.com