There are so many credit acronyms in the credit field and not understanding them can make some educational material look like gibberish…
From time to time I use a few of these crazy acronyms so I wanted to create this list and provide it on here so you can all benefit.
Let me know if you have questions or suggestions for more of these to add. If you want definitions of these acronyms go to my Credit Glossary.
Here are your Crazy Credit Acronyms…
Acronyms In The Credit Field
| AG | Attorney General |
| ARM | Adjustable Rate Mortgage |
| AR | Account Review |
| AU | Authorized User |
| *B | “Bumpage” (taking your inquiries off by pulling your credit daily) |
| BK | Bankruptcy |
| BK13 | Chapter 13 Bankruptcy |
| BK7 | Chapter 7 Bankruptcy |
| BT | Balance Transfer |
| C&D | Cease and Desist (stop collector contact) |
| CA | Collection Agency |
| CB | Credit Bureau |
| CBR | Credit Bureau Report |
| CC | Credit Card |
| CCCS | Consumer Credit Counseling Services |
| CL | Credit Limit |
| CM | Certified Mail |
| CMRRR | Certified Mail Return Receipt Requested |
| CO | “Charge off” or “Collections” |
| CR | Credit Report |
| CRA | Credit Reporting Agency |
| CRO | Credit Repair Organization |
| CRRR | Certified mail, Return Receipt Requested |
| CU | Credit Union |
| CW | Credit Watch |
| DC | Debt Collector |
| DDA | Direct Deposit Account |
| Derog | It is a derogatory account that shows a negative listing |
| DF | Data Furnisher |
| DOFD | Date of First Delinquency |
| DOLA | Date of Last Activity |
| DTI | Debt to Income |
| DV | Debt Validation |
| EFT | Electronic Funds Transfer |
| e-OSCAR | Program “credit bureaus” use to communicate with furnishers |
| EQ | Equifax® |
| EXP | Experian® |
| FACTA | Fair and Accurate Credit Transaction Act |
| FAKO | Fake credit score that is any other calculated score besides the one from FICO® |
| FCBA | Fair Credit Billing Act |
| FCRA | Fair Credit Reporting Act |
| FDCPA | Fair Debt Collection Practices Act |
| FHA | Federal Housing Administration |
| FICO® | Fair Isaac Company. Also generalizes the reference of credit scores |
| FOI | Furnisher of Information |
| Freddie Mac | Federal Home Loan Mortgage Corporation |
| FRCP | Federal Rules of Civil Procedure |
| FTC | Federal Trade Commission. |
| GC | Green Card from Certified Mail |
| GWL | Goodwill letter |
| HELOC | Home Equity Line of Credit |
| HIPAA | Health Insurance Portability & Accountability Act of 1996 |
| HWA | Hard Working American(s)!!! |
| IIB | Included In Bankruptcy |
| Inq | Inquiry |
| ITS | Intent To Sue |
| L/N | LexisNexis |
| LOC | Line of credit |
| OC | Original creditor |
| PFD | Pay for Deletion |
| PIF | Paid In Full |
| PMI | Private Mortgage Insurance |
| PP | Permissible Purpose |
| PR | Procedural Request–request how “credit bureau” supposedly “verified” |
| RE | Restrictive Endorsement (contractual check) |
| RR | Return Receipt |
| RRR | Return Receipt Requested |
| SASE | Self-Addressed Stamped Envelope |
| SIF | Settled In Full |
| SOL | Statute of limitations |
| TILA | Truth in Lending Act |
| TL | Trade line |
| TU | TransUnion® |
| UCC | Uniformed Commercial Code |
| UDF | Universal Data Form |
How is that for a huge collection of Credit Acronyms?!?!
So as you can see it can be very confusing having all these credit acronyms. Do let all of these credit acronyms intimidate you!
Remember you can always come back here and study these credit acronyms!
Hope this helps get you on the path of financial freedom by raising your credit scores!