Bank Line of Credit

Discussion in 'Credit Talk' started by Saar, Feb 7, 2001.

  1. Saar

    Saar Banned

    Does anyone know how Bank Lines of Credit appear on credit reports? Does the tradeline status show "R1" or "I1"?

    Amex Centurion Bank assured me they report Lines of Credit to the bureaus, but couldn't say how.


  2. jamie

    jamie Well-Known Member

    Mine was R1
  3. the other

    the other Well-Known Member

    It should be R1 since it is a line of credit you can use over and over again as you pay it off.

    I1 would be if it was a one time disbursement and the credit were not made available again as you paid it.
  4. Saar

    Saar Banned

    Thanks Jamie & the other me.

    I'll pass then - don't need more R1s, but could use a I1. I'll keep looking.

  5. John Shimm

    John Shimm Guest

    An I1 is an installment loan - a fixed amount borrowed (not a 'line of credit'), fixed P&I over a specific period of time. That's what make it an 'Installment' loan.
  6. Saar

    Saar Banned

    Thanks for trying to explain what 'installment' means, but trust me, I didn't have to look it up :) My post came as it was perviously suggested that some creditors report the status or Lines of Credit as I1 rather than R1. As no one here was able to verify it, I'll proceed to do it the old fashioned way.

  7. Greg

    Greg Guest

    RE: Bank Line of Credit - Saar

    My Line of Credit reports as I1. The LOC has a cap (limit) and the loan documents had a tiered repayment schedule. On all of my reports it is listed as an installment loan. Equifax lists it as "Line of Credit." Hope this helps.
  8. Saar

    Saar Banned

    RE: Bank Line of Credit - Saar

    Sure does! Well well Mr. Shimmer, looks like the discussion is slightly broader that common terminology after all :)

  9. Sister Gir

    Sister Gir Guest

    RE: Bank Line of Credit - Saar


    Both my Bank One & Community Credit Union Line of Credit accounts report "I1".

    Sister Girl

Share This Page