Rebuilding Your Credit

[growingwings]

Hi all.

Can someone explain this to me....

This concerns credit reporting.

I know that having a status of R1 means it is Rated 1 -- which is good right???

But what if my status states I1   what does that mean??  I have this on my student loan?

[growingwings]

NM.

I found the info I needed.

R- Revolving (usually a credit card)
I - installment (like home or auto loan)

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
R7 or I7 = making regular payments under wage earner plan
R8 or I8 = repossession
R9 or I9 = charge off

Silly me.

[growingwings]

k. wait.

which begs another question.

I have I1 rating on my student loan.  

And I am paying as agreed, but yet, I am also being dinged for  one 30 day late. What gives?

Shouldn't the rating then be I2????

hmm.