Tenant Credit Check Codes & Explanation

How To Read A RentPrep Credit Check

Below is a sample credit check. If you order a credit check, you get to pick a star rating (0-5 Stars). Each star rating has a FICO Score range and has an allowable number of reportable Bankruptcies and Judgments. In this sample "Joe Landlord" selected a 4 star rating. This means to pass (or be "Approved" for) a 4 Star Rating, the applicant needs to pass each of the following: - Applicant needs at least a 650 FICO Score - Applicant can't have more than 1 reportable Bankruptcy -...

Credit Check Code 000

No adverse factor. This code indicates that no information appearing on the credit report negatively impacts the score.

Credit Check Code 001

001 code means that the amount owed on accounts is too high.

Credit Check Code 002

Level of delinquency on accounts. The level is determined by the length of time and status. This code is typically triggered when the delinquency is more than 60 days past due.

Credit Check Code 003

.Proportion of loan balances to loan amounts is too high. The loans are maxed out with little to no available credit.

Credit Check Code 004

Lack of recent installment loan information. The lack of recent information is causing a negative impact on the score.

Credit Check Code 005

Too many accounts with balances. Viewed by the credit bureaus as having a high debt to income ratio.

Credit Check Code 006

Too many consumer finance company accounts. This is viewed as a high debt to income liability.

Credit Check Code 007

Account payment history is too new to rate.

Credit Check Code 008

Too many inquiries last 12 months. This is typically triggered if the inquiries are in the same category. For example, too many credit card inquiries or auto loan inquiries in a given time period.

Credit Check Code 009

Too many accounts recently opened.

Credit Check Code 010

A proportion of balances to credit limits is too high on bank revolving or other revolving accounts. Their credit cards are maxed out. This is concerning for landlords since there may not be a safety net of available credit in the event their income is affected.

Credit Code Check 011

.Amount owed on revolving account is too high. The high balance is causing a negative credit impact

Credit Check Code 012

Length of time revolving accounts have been established. Since the accounts are too recent, positive credit cannot be determined.

Credit Check Code 013

Time since delinquency is too recent or unknown. Not enough time has passed yet to begin rebuilding positive credit.

Credit Check Code 014

Length of time accounts have been established. This typically means there has not been enough time since recent accounts were opened to determine payment history.

Credit Check Code 015

Lack of recent bank revolving information. Not enough recent activity to generate a positive or negative score.

Credit Check Code 016

Lack of recent revolving account information. The lack of information is having a negative impact on the credit score.

Credit Check Code 017

No recent non-mortgage balance information.

Credit Check Code 018

Number of accounts with delinquency. This typically means there is a high number of accounts in a delinquent status. It usually takes 3 or more delinquent accounts to trigger this code.

Credit Check Code 019

Date of last inquiry too recent.

Credit Check Code 020

Length of time since derogatory public record or collection is too short. This code is triggered when the adverse records are still having a negative impact on the credit. After time, credit will bounce back and begin to regain positive momentum, but this has not happened yet because the filings are too recent.

Credit Check Code 021

Amount past due on accounts. The status of the accounts is impacting the score negatively.

Credit Check Code 022

Serious delinquency. Typically an account that has exceeded the 90 days past due mark.

Credit Check Code 024

No recent revolving balances. The lack of information on revolving balances is causing a negative impact on the score.

Credit Check Code 026

.Number of bank revolving or other revolving accounts. Too many revolving accounts can impact the score negatively regardless of the balances and status.

Credit Check Code 027

Too few accounts currently paid as agreed. This means not enough positive activity.

Credit Check Code 028

This has to do with the number of established accounts. A lack of established accounts is having a negative impact on the score.

Credit Check Code 029

No recent bankcard balances. The lack of balances could be impacting the score negatively.

Credit Check Code 030

Time since most recent account opening is too short. There has not been enough information to impact the credit score positively.

Credit Check Code 031

The amount owed on delinquent accounts. Balances are impacting the credit score negatively.

Credit Check Code 036

Payments due on accounts. To impact the credit score negatively, the payments are more than 30 days past due, and not yet 90 days which would trigger the "Serious Delinquency" code.

Credit Check Code 038

Serious delinquency, and public record or collection filed. This code is typically triggered when the delinquency is 90 or more days.

Credit Check Code 039

Serious delinquency. This is typically triggered when an account reaches 90 days past due, and the delinquency is still having a negative impact on the credit score.

Credit Check Code 040

Derogatory public record or collection filed. The filing can be within the past 7 years. This code is triggered when the filing is still having a negative impact on the credit score.

Credit Check Code 041

No recent retail balances

Credit Check Code 042

Length of time since most recent consumer finance company account was established.

Credit Check Code 050

Lack of recent retail account information

Credit Check Code 056

Amount owed on retail accounts

Credit Check Code 097

Lack of recent auto loan information