It is important to do a credit pull at least once a year to take a look at your credit report and see what information is on there. This allows you to check that the information is accurate and makes it easier to figure out if something is wrong or if you have become a victim of identity theft. If you ignore this report for too long, you could find yourself in a financial mess later on when you  need to get into a new apartment or plan to take out money for some other reason.

As you read through the credit report and take a look at all of the information on there, you may run across a few symbols that you do not recognize. It is important to either know the meaning of these or look it up so that you fully understand what your credit is saying about you. one of the symbols that you may not be familiar with is the U.

When you see a U on your credit report, know that it means “unclassified”. This is not a big deal because it simply means that the account hasn’t been updated by the time that you pulled the report. If you wait another month or so and pull the report again, this should be updated again. It is just one of the status codes that can show up around your accounts on the report. It could indicate that there is a problem with the account, but is going to depend on the type of account and even how long it has been open.

For example, you may see that this U shows up if you have a new account and you haven’t had a chance to make a payment on it yet. Just like with anything else on. your credit report, if you see an account that has a U on it and you were not the one who opened it, then you need to look into this and consider whether identity theft occurred on that account as soon as possible.

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