Permissible Purpose Codes

As part of the FCRA regulations, a 2-digit permissible purpose code is required to specify the reason for retrieving a consumer’s credit decisioning report.

Pass one of the following codes as the value for the purpose parameter in the get report API call.

Permissible Purpose

Description

Code

Account review

Review account performance for both consumer credit and non-credit accounts.

The following review types include but are not limited to:

  • Evaluate an account to determine if it can remain open or closed.
  • Check account credit limits to potentially increase or reduce them.
  • Check to Impose other account limitations as needed.

99

Eligibility for government benefits

 Determine eligibility for a government license or benefit required by law to consider an applicant’s financial responsibility or status.

8J

Extension of credit

 Lending-based assessment for all loan types:

  • Mortgage
  • Auto
  • HELOC  
  • Installment
  • Others

31

Legitimate businesses need tenant screening

 Property rental financial assessment.

1B

Written instruction prequalification

Evaluate an application’s profile to determine which lending and screening offer they’re qualified to receive.

3F

Written instruction – personal guarantor

When an individual starts acting as a guarantor or assumes personal liability for a consumer, business, or commercial loan.

 

10