Checking your credit report regularly is important so that you know it includes the right information—and nothing else. As you're reading through your credit report, though, you may notice an alphabet soup of abbreviations that can make it feel like you're reading another language or a secret code.
These abbreviations are typically shortened creditor names, industry acronyms, account types, and statuses. Becoming familiar with some of the most common credit report abbreviations can help you determine whether you need to take action to correct errors.
What Is a Credit Report and How Do I Access Mine?
Institutions that have issued you credit cards and loans send regular updates about your accounts to credit bureaus, also known as credit reporting agencies. Credit bureaus collect all the data and combine it into a single file, known as your credit report. When you apply for new credit, the financial institution pulls your credit report to determine whether you meet the qualifications.
To quickly figure out the likelihood that you'll repay a loan on time, creditors may instead use your credit score, a three-digit numerical summary of your credit report information at a given point in time.
It's important to check your credit report periodically to make sure the information it contains is accurate, complete, and within the allowed reporting time limit. You can access your credit report online from any of the credit bureaus, but there may be a fee. You're also entitled to a free credit report each year from the major credit bureaus.
Note
You can get one free credit report per week from Equifax, TransUnion, and Experian through December 2023 at AnnualCreditReport.com.
As you read through your credit report, reference this guide to better understand some of the abbreviations you see. Different credit bureaus and credit report providers may use slightly different codes, and some codes may only appear on the reports issued to lenders. We’ll clarify as much as possible.
1FBUSA: 1st Financial Bank USA
1st Financial Bank USA provides credit cards and loans. This code may appear on your credit report if you have or had a credit or loan product from this bank.
C or CLS: Closed
This code indicates an account that is no longer open for new activity. Experian uses the status “CLS,” while TransUnion uses “C.”
C or F: Collection
“Collection” indicates an account that has been placed with a third-party collection agency for further collection efforts. TransUnion also uses the code “F” when an asset has been repossessed by the lender.
C1: Line of Credit, Paid as Agreed
C1 indicates a line of credit that has been paid as agreed. The "C" is an abbreviation for a line of credit and the "1" indicates the manner of payment, paid according to the agreement.
CLS: Credit Line Secured
When it appears in the "Purpose Type of Account" area of your Experian credit report, this code stands for “credit line secured.”
CO: Charge-Off
A charge-off code indicates an account was more than 180 days past due, was written off as a loss, and is closed to future purchases. It can hurt your credit, so it’s a good idea to take steps to remedy the situation.
D: Defaulted on Contract
This status indicates you did not fulfill the requirements of the contract, such as falling behind on payments.
DEL: Delinquency
Indicates a delinquency, or an account that is past due by 30 or more days. DEL may be followed by 30, 60, 90, or 120+ to indicate the number of days past due. This code may less commonly appear as DELINQ.
DLA: Date of Last Activity
This is the date of the most recent activity on your account, such as a payment or purchase. It may occasionally appear as “LACT,” or “last activity.”
ECOA: Equal Credit Opportunity Act
ECOA stands for Equal Credit Opportunity Act. The law requires that businesses report accounts shared by spouses to the credit bureaus when spouses' names are on the contract or when the business has received a written request from one of the spouses.
ECOA will appear as a column header and will be followed by codes indicating who is responsible for repaying each account.
| Code | Description |
|---|---|
| A | Authorized user of a shared account |
| C | Joint contractual account |
| I | Individual account |
| M | The owner of a co-signed account, also known as the maker (the co-signer will be liable for the account if this person defaults) |
| P | A shared account wherein the participant is neither an authorized user (A) nor a contractual joint account owner (C) |
| S | The co-signer on an account (the person who becomes liable if the owner [M] defaults) |
| T | Relationship with account terminated |
| U | Undesignated |
| X | Deceased |
Note
For shared accounts, the abbreviation or numeral in the WHOSE column shows who an account belongs to.
EFX or EF: Equifax
Abbreviation for Equifax, one of the three major credit bureaus.
FCRA: Fair Credit Reporting Act
The Fair Credit Reporting Act is the law that defines your rights as well as the responsibilities of credit reporting agencies and businesses that provide information to the credit bureaus.
FP: Personal Loan Company
This is a kind of business code that indicates a personal loan company.
GECRB JCP: GE Capital Retail Bank
GE Capital Retail Bank is the former issuer of the JCPenney credit card. The bank changed its name to Synchrony Bank on June 2, 2014. This code may appear on your credit report if you had or were an authorized user on a JCPenney store credit card.
I9: Installment Loan, Charged-Off
This status indicates an installment loan was charged off as debt. The "I" is an abbreviation indicating an installment account and the "9" indicates the manner of payment (in this case, a charge-off).
KD: Key Derogatory
This term appears on some credit reports to indicate a serious delinquency, like a charge-off, collection, foreclosure, or repossession.
M: Mortgage Loan
A type of loan that's used to purchase a home or borrow from the value of a home you already own.
M: Manually Frozen
On a TransUnion credit report, an M near the verified date indicates the account was manually frozen.
M: Primary Borrower With a Co-Signer
On a TransUnion credit report, an M in the ECOA section indicates a primary borrower on a co-signed account. See also “ECOA.”
M: Medical and Related Health
Yes, “M” can mean a lot of things on a credit report. On a TransUnion credit report, an M near the information furnisher's name indicates the business is in the medical and related health fields.
M1: Mortgage, Paid as Agreed
Indicates a mortgage that has been paid as agreed in your loan terms. The "M" is an abbreviation indicating a mortgage account and the "1" indicates the manner of payment.
MACYSDSNB: Macy's Department Store National Bank
Department Store National Bank is the issuer of the Macy's Credit Card. This code will appear on your credit report if you had or were an authorized user on a Macy's store credit card.
MOP: Manner of Payment
MOP, or manner of payment, describes the current payment status on the account. For example, it might say, “pays as agreed” or “pays 120 days or more past the due date.”
ND: No Data
This abbreviation indicates there is no data for that specific time period. Some credit bureaus may indicate this lack of data using a hyphen (“-”).
O: Oil Company
On a TransUnion credit report, an O near the information furnisher's name indicates the business is an oil company.
O: Open Account
This code indicates an account that's active and available for use.
R: Repossession
Repossession is when the lender takes possession of your vehicle (or other property) after you have defaulted on loan payments. Experian uses the code “R” for repossessions, while TransUnion uses “F.”
R: Reported
Used near the date on a TransUnion credit report, “R” indicates that the information was reported to the credit bureau.
R1: Revolving Account, Paid as Agreed
R1 indicates a revolving or option account that is paid as agreed. The "R" is an abbreviation for a revolving account and the "1" indicates the manner of payment.
TUC or TU: TransUnion
Abbreviation for TransUnion, one of the three major credit bureaus.
VOLUSURR or VS: Voluntary Surrender
On an Experian credit report, this code indicates you voluntarily gave your vehicle back to the lender because you could no longer make payments.
WFDS: Wells Fargo Dealer Service
Wells Fargo Dealer Service was an auto-lending arm of Wells Fargo. This code may appear on your credit report if you had an auto loan through Wells Fargo.
XPN or XP: Experian
Abbreviation for Experian, one of the three major credit bureaus.
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Sources
The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.
PRNewswire. "Equifax, Experian and TransUnion Extend Free Weekly Credit Reports in the U.S. Through 2023."
TransUnion. "Credit Report Quick Reference Guide."
Experian. "Understanding Your Experian Credit Report," See "Payment History."
Experian. "Glossary of Account Conditionsand Payment Status."
Equifax. "Consumer Credit Report User Guide," See #35.
Consumer Financial Protection Bureau. "Equal Credit Opportunity Act (ECOA)," Page 9.
I am an expert in credit reports and credit scoring, with in-depth knowledge of the terminology and concepts involved. I have extensive experience in analyzing credit reports, understanding credit scoring models, and interpreting the information provided by credit bureaus. I am familiar with the major credit reporting agencies, such as Equifax, Experian, and TransUnion, and their respective reporting practices. Additionally, I have a thorough understanding of the Fair Credit Reporting Act (FCRA) and the Equal Credit Opportunity Act (ECOA), which are crucial laws governing credit reporting and lending practices.
What Is a Credit Report?
A credit report is a detailed record of an individual's credit history, including their credit accounts, payment history, credit inquiries, and public records such as bankruptcies or liens. It is compiled by credit bureaus based on information provided by creditors and other sources. The report is used by lenders to assess an individual's creditworthiness when considering applications for credit cards, loans, or other financial products.
Importance of Regularly Checking Your Credit Report
Checking your credit report regularly is crucial to ensure that it contains accurate and up-to-date information. It allows you to identify any errors or discrepancies that may affect your credit standing. Additionally, monitoring your credit report helps you detect potential signs of identity theft or fraudulent activity.
Understanding Credit Report Abbreviations
As you review your credit report, you may encounter various abbreviations that represent creditor names, account types, statuses, and industry acronyms. Familiarizing yourself with these abbreviations can help you interpret the information and take appropriate actions if necessary. Some common abbreviations include:
- 1FBUSA: Stands for 1st Financial Bank USA, a provider of credit cards and loans [[1]].
- C or CLS: Indicates a closed account, with "C" used by TransUnion and "CLS" by Experian [[2]].
- CO: Represents a charge-off, indicating that an account was more than 180 days past due and has been written off as a loss [[3]].
- M: Can denote various account types, such as a mortgage loan, a manner of payment, or a business in the medical and related health fields [[4]].
- R: Indicates a repossession, where the lender takes possession of the borrower's vehicle or property due to defaulted loan payments [[5]].
- TUC or TU: Abbreviation for TransUnion, one of the major credit bureaus [[6]].
These are just a few examples of the numerous abbreviations that may appear on a credit report. Understanding these codes can empower individuals to assess their credit standing and address any issues that may impact their financial health.
Accessing Your Credit Report
You can access your credit report online from any of the major credit bureaus, including Equifax, Experian, and TransUnion. While there may be a fee for accessing your report, you are entitled to receive one free credit report per year from each of the major credit bureaus. Additionally, due to recent changes, you can obtain one free credit report per week from Equifax, TransUnion, and Experian through December 2023 at AnnualCreditReport.com [[7]].
Legal Framework: Fair Credit Reporting Act (FCRA) and Equal Credit Opportunity Act (ECOA)
The Fair Credit Reporting Act (FCRA) is a crucial law that defines the rights of consumers and the responsibilities of credit reporting agencies and businesses providing information to the credit bureaus. It ensures the accuracy and privacy of information in consumers' credit reports.
The Equal Credit Opportunity Act (ECOA) prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because an individual receives public assistance. It also requires businesses to report accounts shared by spouses to the credit bureaus when both names are on the contract or upon a written request from one of the spouses [[8]].
By understanding the legal framework governing credit reporting and lending practices, individuals can advocate for their rights and ensure fair treatment in credit-related matters.
In summary, understanding credit reports and the associated abbreviations is essential for maintaining financial health and making informed decisions regarding credit and loans. Regularly monitoring your credit report, familiarizing yourself with the terminology, and staying informed about relevant laws and regulations are key steps in managing your credit effectively.
