diff --git a/hermes_cli/auth_commands.py b/hermes_cli/auth_commands.py
index 9c3320010..aa092a058 100644
--- a/hermes_cli/auth_commands.py
+++ b/hermes_cli/auth_commands.py
@@ -110,18 +110,40 @@ def _display_source(source: str) -> str:
     return source.split(":", 1)[1] if source.startswith("manual:") else source
 
 
+def _classify_exhausted_status(entry) -> tuple[str, bool]:
+    code = getattr(entry, "last_error_code", None)
+    reason = str(getattr(entry, "last_error_reason", "") or "").strip().lower()
+    message = str(getattr(entry, "last_error_message", "") or "").strip().lower()
+
+    if code == 429 or any(token in reason for token in ("rate_limit", "usage_limit", "quota", "exhausted")) or any(
+        token in message for token in ("rate limit", "usage limit", "quota", "too many requests")
+    ):
+        return "rate-limited", True
+
+    if code in {401, 403} or any(token in reason for token in ("invalid_token", "invalid_grant", "unauthorized", "forbidden", "auth")) or any(
+        token in message for token in ("unauthorized", "forbidden", "expired", "revoked", "invalid token", "authentication")
+    ):
+        return "auth failed", False
+
+    return "exhausted", True
+
+
+
 def _format_exhausted_status(entry) -> str:
     if entry.last_status != STATUS_EXHAUSTED:
         return ""
+    label, show_retry_window = _classify_exhausted_status(entry)
     reason = getattr(entry, "last_error_reason", None)
     reason_text = f" {reason}" if isinstance(reason, str) and reason.strip() else ""
     code = f" ({entry.last_error_code})" if entry.last_error_code else ""
+    if not show_retry_window:
+        return f" {label}{reason_text}{code} (re-auth may be required)"
     exhausted_until = _exhausted_until(entry)
     if exhausted_until is None:
-        return f" exhausted{reason_text}{code}"
+        return f" {label}{reason_text}{code}"
     remaining = max(0, int(math.ceil(exhausted_until - time.time())))
     if remaining <= 0:
-        return f" exhausted{reason_text}{code} (ready to retry)"
+        return f" {label}{reason_text}{code} (ready to retry)"
     minutes, seconds = divmod(remaining, 60)
     hours, minutes = divmod(minutes, 60)
     days, hours = divmod(hours, 24)
@@ -133,7 +155,7 @@ def _format_exhausted_status(entry) -> str:
         wait = f"{minutes}m {seconds}s"
     else:
         wait = f"{seconds}s"
-    return f" exhausted{reason_text}{code} ({wait} left)"
+    return f" {label}{reason_text}{code} ({wait} left)"
 
 
 def auth_add_command(args) -> None:
diff --git a/tests/hermes_cli/test_auth_commands.py b/tests/hermes_cli/test_auth_commands.py
index 388386a6b..23602c9f0 100644
--- a/tests/hermes_cli/test_auth_commands.py
+++ b/tests/hermes_cli/test_auth_commands.py
@@ -654,10 +654,45 @@ def test_auth_list_shows_exhausted_cooldown(monkeypatch, capsys):
     auth_list_command(_Args())
 
     out = capsys.readouterr().out
-    assert "exhausted (429)" in out
+    assert "rate-limited (429)" in out
     assert "59m 30s left" in out
 
 
+def test_auth_list_shows_auth_failure_when_exhausted_entry_is_unauthorized(monkeypatch, capsys):
+    from hermes_cli.auth_commands import auth_list_command
+
+    class _Entry:
+        id = "cred-1"
+        label = "primary"
+        auth_type = "oauth"
+        source = "manual:device_code"
+        last_status = "exhausted"
+        last_error_code = 401
+        last_error_reason = "invalid_token"
+        last_error_message = "Access token expired or revoked."
+        last_status_at = 1000.0
+
+    class _Pool:
+        def entries(self):
+            return [_Entry()]
+
+        def peek(self):
+            return None
+
+    monkeypatch.setattr("hermes_cli.auth_commands.load_pool", lambda provider: _Pool())
+    monkeypatch.setattr("hermes_cli.auth_commands.time.time", lambda: 1030.0)
+
+    class _Args:
+        provider = "openai-codex"
+
+    auth_list_command(_Args())
+
+    out = capsys.readouterr().out
+    assert "auth failed invalid_token (401)" in out
+    assert "re-auth may be required" in out
+    assert "left" not in out
+
+
 def test_auth_list_prefers_explicit_reset_time(monkeypatch, capsys):
     from hermes_cli.auth_commands import auth_list_command