Sorry,if this seems like a silly question. But, I haven't been able to figure this out. I have seen people refer to different accts as R5 , R9 ,etc. What does that mean ? And , how do you know what an acct is R???
R = Revolving I = Installment O = Open http://consumers.creditnet.com/stra...tid=138463&highlight=R+=+Revolving#post138463 R1 or I1= pays as agreed never late R2 or I2= 30 days late R3 or I3= 60 days late R4 or I4= 90 days late R5 or I5= 120 days late (ouch) R7 or I7= making regulare payments under wage earner plan R8 or I8= repossession R9 or I9= charge off http://consumers.creditnet.com/stra...hp?s=&postid=37987&highlight=r1++r2#post37987
R stands for revolving acct such as a credit card. I is for installment such as a car loan. r-1 or I-1=pays as agreed, never late R-2 or I-2 = 30 days late 3=60 days late 4 = 90 days late 5 = 120 days late 9 = charge off
Thank you. That explains what it means. Where do you see the rating on an acct ? Is it somewhere on the credit report ?
This is what I have in my records: Rate Key* 0 Too new to rate 1 Pays account as agreed 2 Not more than two payments past due 3 Not more than three payments past due 4 Not more than four payments past due 5 At least 120 days or more than for payments past due 7 Making regular payments under W.E.P 8 Repossession 9 Bad Debt; placed for collection; skip Status Key* A Account inactive B Lost or stolen card C Contact member for status D Refinanced ore renewed E Consumer deceased F In financial counseling G Foreclosure process started H In W.E.P. of other party J Adjustment pending K Escrow account only L BMO - need authority to clear M Included in Chapter 13 N Non-member declines to clear trade Q No response from creditor S Dispute - resolution pending T Out-of-area trade U Need account number to check V Account not approved W Need consumer authorization X No record of account Z Included in bankruptcy # In bankruptcy/other party $ Assigned to U.S. Dept of ED
