When credit reports are scored using the standard industry FICO model, each factor that influences your credit score is assigned a code. These codes will often appear on the summary page of your credit report to assist you in understanding your score.
Facts
"No Adverse Factor" is Code 00 and is used as a part of the FICO Classic 98 and FICO Classic 04 scoring models. This code indicates that no information appearing on the credit report negatively impacts the score.
Time Frame
Code 00 appears only on credit reports that were pulled before 2008. In 2008, FICO released the new scoring model, "FICO 08," which does not contain a scoring code for credit reports that lack any derogatory information.
Considerations
It is extremely uncommon for an individual to be assigned Code 00. Even minor credit report entries, such as credit inquiries, can negatively impact a score. If a credit report lacks any adverse factors, it is pristine.
Benefits
Having a credit report with no adverse factors will allow you to qualify for the best rates possible when applying for loans or credit.
Warning
It is possible to have no adverse factors on one credit bureau's report, yet have derogatory information appear on another. This is due to the fact that some creditors do not report their accounts to all three credit bureaus.
These codes will often appear on the summary page of your credit report to assist you in understanding your score. Real Credit Repair Companies
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