B2 - B7: Default 30, 60, 90, 120, 150, 180 days.
B8: The account is in repossession or foreclosure.
Payment History B2 Notation
May 23, 2024
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What is the meaning of "B2" notation for a payment history for a month in a person's credit report?
ChatGPT
The "B2" notation in a person's credit report generally refers to the payment status of a particular account for a specific month. Credit bureaus and reporting agencies use various codes to denote the status of an account, and "B2" typically means the following:
B: The account is a bank card, such as a credit card issued by a bank.
2: The account is 30 days past due.
So, "B2" indicates that a bank card account is 30 days past due for the specified month. It's important to pay attention to such notations on a credit report as they can impact the overall credit score and creditworthiness of an individual.
What is the meaning of "B3" notation for a payment history for a month in a person's credit report?
ChatGPT
The "B3" notation in a person's credit report refers to the payment status of a specific account for a particular month. The components of this notation can be broken down as follows:
B: The account is a bank card, such as a credit card issued by a bank.
3: The account is 60 days past due.
Therefore, "B3" indicates that a bank card account is 60 days past due for the specified month. This notation reflects a more serious delinquency than "B2" (30 days past due) and can have a greater negative impact on a person's credit score and creditworthiness.
What is the meaning of "B4" notation for a payment history for a month in a person's credit report?
ChatGPT
The "B4" notation in a person's credit report denotes the payment status of a specific account for a particular month. The breakdown of this notation is as follows:
B: The account is a bank card, such as a credit card issued by a bank.
4: The account is 90 days past due.
Therefore, "B4" indicates that a bank card account is 90 days past due for the specified month. This is a more severe delinquency compared to "B2" (30 days past due) and "B3" (60 days past due), and it can significantly impact a person's credit score and creditworthiness.
What is the meaning of "B5" notation for a payment history for a month in a person's credit report?
ChatGPT
The "B5" notation in a person's credit report indicates the payment status of a specific account for a particular month. The breakdown of this notation is as follows:
B: The account is a bank card, such as a credit card issued by a bank.
5: The account is 120 days past due.
Therefore, "B5" indicates that a bank card account is 120 days past due for the specified month. This represents a significant level of delinquency, which can severely impact a person's credit score and overall creditworthiness.
What is the meaning of "B6" notation for a payment history for a month in a person's credit report?
ChatGPT
The "B6" notation in a person's credit report denotes the payment status of a specific account for a particular month. Here's the breakdown:
B: The account is a bank card, such as a credit card issued by a bank.
6: The account is 150 days past due.
Therefore, "B6" indicates that a bank card account is 150 days past due for the specified month. This is a severe delinquency and can have a substantial negative impact on a person's credit score and creditworthiness.
What is the meaning of "B7" notation for a payment history for a month in a person's credit report?
ChatGPT
The "B7" notation in a person's credit report indicates the payment status of a specific account for a particular month. The components of this notation are as follows:
B: The account is a bank card, such as a credit card issued by a bank.
7: The account is 180 days past due and has been placed for collection or is included in Chapter 13 bankruptcy.
Therefore, "B7" indicates that a bank card account is 180 days past due and has either been sent to collections or is part of a Chapter 13 bankruptcy. This is a very serious delinquency, which can have a significant negative impact on a person's credit score and overall creditworthiness.
What is the meaning of "B8" notation for a payment history for a month in a person's credit report?
ChatGPT
The "B8" notation in a person's credit report denotes the payment status of a specific account for a particular month. The components of this notation are:
B: The account is a bank card, such as a credit card issued by a bank.
8: The account is in repossession or foreclosure.
Therefore, "B8" indicates that a bank card account is in repossession or foreclosure status for the specified month. This represents a severe financial delinquency and can have a very significant negative impact on a person's credit score and overall creditworthiness.
What is the meaning of "B9" notation for a payment history for a month in a person's credit report?
ChatGPT
The "B9" notation in a person's credit report indicates the payment status of a specific account for a particular month. The components of this notation are:
B: The account is a bank card, such as a credit card issued by a bank.
9: The account is charged off as a bad debt.
Therefore, "B9" signifies that a bank card account has been charged off as bad debt for the specified month. This is one of the most severe notations and indicates that the creditor has written off the debt as unlikely to be collected. This can have a very significant negative impact on a person's credit score and overall creditworthiness.
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