Account Ratings

The CREDIT_LIABILITY array (a subproperty of CREDIT_RESPONSE) contains a set of objects that represent the loans, obligations, and other financial liabilities that appear on a customer's credit report. The _CURRENT_RATING subobject provides a quick assessment of an account's health as...

  • ...a descriptive constant (the @_Type property) and as...
  • ...a single-character code (@_Code).

As an example, here we see an account that's 30 days late.

"CREDIT_LIABILITY": [
  {
    "@BorrowerID": "Borrower01",
    "@CreditBusinessType": "Banking",
    ...
    "_CURRENT_RATING": {
      "@_Type": "Late30Days", // The account's descriptive constant.
      "@_Code": "2" // The account's single-character code.
    },
    ...

The @_Code values listed here are also used (as values of the @_Value property) in the CREDIT_SUMMARY section of the report. See Credit Summary Attributes: Account Ratings for a list of a report's account rating attributes.

Descriptive Constants

The descriptive constants that you'll see in the @_Type property are listed and described below. The descriptions are verbatim from MISMO.

@_TypeDescription
AsAgreedAccount is being paid on time and according to terms of the credit agreement.
BankruptcyOrWageEarnerPlanThe exact type could not be determined.
ChargeOffThe account was not paid on a timely basis and the debt is being written off as uncollectible by the creditor.
CollectionAccount has not been paid on a timely basis and is been turned over to an attorney or agency for collection.
CollectionOrChargeOffThe exact type could not be determined.
ForeclosureLegal proceedings have been initiated to sell property to settle debt on an unpaid balance.
ForeclosureOrRepossessionThe exact type could not be determined.
Late30DaysAccount is between 30 and 59 days past due.
Late60DaysAccount is between 60 and 89 days past due.
Late90DaysAccount is betwen 90 and 119 days past due.
LateOver120DaysAccount is 120 days or more past due.
NoDataAvailableStatus of the account is not known.
RepossessionAccount has not been paid on a timely basis and proceedings have been initiated to repossess collateral property to partially of fully satisfy the debt.
TooNewAccount has been recently established and is too new to rate payment history.
WageEarnerPlanPast due debt on an account is being paid according to terms established by a court or agreement with the creditor.

Single-character Codes

The value of the @_Code property depends on the rating system that the report is using, as declared in the report's [email protected] property. There are two rating systems, one defined by Equifax and another by Experian:

{
  "CREDIT_RESPONSE": {
    "@MISMOVersionID": "2.4",
    "@CreditRatingCodeType": "Equifax", // Rating system is Equifax
    ...
{
  "CREDIT_RESPONSE": {
    "@MISMOVersionID": "2.4",
    "@CreditRatingCodeType": "Experian", // Rating system is Experian
    ...

With a single exception (the letter "C" in the Experian system) the rating codes are numeric. The lower the number, the healthier the account.

Equifax Codes

The descriptions are verbatim from Equifax.

@_CodeDescription
0Too new to rate; approved but not used.
1Pays (or paid) within 30 days of payment due date or not more than one payment past due.
2Pays (or paid) in more than 30 days from payment due date, but not more than 60 days, or not more than two payments past due.
3Pays (or paid) in more than 60 days from payment due date, but not more than 90 days, or not more than three payments past due.
4Pays (or paid) in more than 90 days from payment due date, but not more than 120 days, or four payments past due.
5Account is at least 120 days overdue but is not yet in collections.
6There is no 6 in the Equifax rating system
7Making regular payments under a consolidation order or similar arrangement.
8Repossession (voluntary or involuntary return of merchandise).
9Bad debt; placed for collection.

Experian Ratings

The descriptions are verbatim from Experian.

@_CodeDescription
CCurrent
130 days late
260 days late
390 days late
4120 days late
5150 days late
6180 days late
7Bankruptcy
8Repossession
9Collection/chargoff