Credit Terminology

A short list of all the terms, abbreviations, and acronyms you will probably run into when diving into credit funding.

  • Credit Scores- This refers to the score that which the credit reporting agencies give you based on the information they have gathered on you up till that point which is usually a reporting of your stated income/employment, all open credit accounts and installment loans, and your repayment history as well as credit limit and lastly inquiries showing on your report. Every scoring model is different across personal and business credit reports.
  • Credit Models- The most popular credit models are both FICO (8,9,10) and VantageScore (3.0 & 4.0)
  • Credit Report- This is the report the bank will pull from the credit reporting agency in order to get an idea of how you are managing your current credit accounts and installment loans, as well as the age.
  • AAoA- Average Age of Accounts aka credit history (15% of FICO, 21% of Vantage 3)
  • SL – Starting limit (usually the limit you get when you first open the credit card or tradeline)
  • CL- Credit Limit (What is the credit limit of your credit card)
  • TCL/TAC – Total Credit Limit or Total Available Credit (I consider these the same, meaning the total amount of credit you have reporting on your personal or business credit report, you can count this with or without installments and mortgage)
  • CLI- Credit Limit Increase (when the current limit of your credit product gets increased by either you requesting it or the bank automatically giving you)
  • YRMV- Your results may vary, understand unless you had 100,000s of results that you were using in a data set, a lot of this is speculation and what one person got might be completely different from your result.
  • Tradelines- Often times referenced to as credit cards or as any open available credit line, just depends on who you are talking too. Everyone seems to define differently
  • SUB- Sign up bonus (usually given out when you first sign up and get approved by a credit card)
  • Datapoints- What are the datapoints of your credit profile of of the bank in questions. What bureau they pull, hard or soft pull, what was your credit score, stated income, how many new accounts in last 12 months etc.
  • Credit Intel- Generally refers to information about that specific bank, again what bureau did they pull, what was your SL, did they pull chex systems, etc.
  • HP- Hard pull (meaning they requested a full copy of your credit report from the bureau, which resulted in an Inquiry that will show up on your report)
  • SP- Soft pull (meaning they did NOT request a full copy of your credit report, so no inquiry will be recorded)
  • PG- Personal Guarantor (meaning you have to fill in your SSN because the credit application is requiring it, this usually happens on business credit applications)
  • AU- Authorized User (When you get added onto someones open credit card account as another user, or a user that is authorized to use the account, usually you will get your own credit card for that account with your name on it)
  • Max Exposure- This references the known total amount of credit a bank will give you across credit products. Most banks we don’t have any clue what this is, only a handful we have that information on.
  • AA- Adverse Action (meaning some sort of negative action taken by a bank against your credit accounts, sometimes this is caused by dramatic credit score drop or rapid increase in utilization/usage)
  • **Sandboxed-**This usually refers to banks that have for some reason tagged your account as sub-prime or higher risk and therefore won’t extend you anymore credit. This is common to see on Capital 1 credit rebuilder cards
  • Garden- “I am in the garden” is a common term you will see used in credit communities, meaning they are not actively seeking new credit and letting their current tradelines season up or gain more age.
  • App Spree- This refers to the day/point in time when you are actively going out and seeking new credit for personal or business.
  • Blacklisted- Blacklisting usually occurs when you have burned a bank in the past, meaning you have open collections, closed collections or if you put that bank on a bankruptcy. Sometimes you can get past this, other times you can’t.