CREDIT ABBREVIATIONS Flashcards
1
Q
0-6
A
Number of payments payments in arrears.
- Eg 1 = 1 payment not paid
- Eg 3 = 3 payments not paid
2
Q
S
A
An account which is now settled or satisfied within the terms of the agreement
3
Q
D
A
The account has defaulted.
4
Q
I
A
The account is an arrangement/reduced payments
5
Q
.
A
No data has been received for the account that month.
6
Q
N
A
The account is inactive; it has previously had a balance, but currently the balance is zero and there has been no activity for 90 days.
- Often seen on mail orders and communication suppliers.
7
Q
U
A
Unclassified;
- typically suggests the applicant is not currently making payments or that there is no set payment plan
- EG ‘buy now, pay nothing for the first year’ would show this inactivity or alternatively an inactive credit card.
8
Q
Z
A
The account has had no financial transactions posted to it since it opened.
9
Q
Q
A
An account which is in query or dispute over the balance; this could be for a number of reasons.
10
Q
R
A
Compulsory repossession
- occurring after a default.
