image24

Financial Education will improve your credit

Each account on your credit report has a credit rating ranging from 0-9

Type of Account

O-Open or Other

  • Open-the entire balance is due each month
  • Other-reports as a collection account or an account that is not a monthly installment account or revolving.

I- Installment (fixed number of payments)

R-Revolving (payment amount varies)

  • Credit card or in-store credit
  • Line of credit is available until the account is closed
  • The Interest rate is typically higher than installment account
  • Payment vary depending on the amount spent
  • The higher the balance the more adversely it affects your credit score

Credit Ratings

10 or RO= Paid in full, not used, or too new to rate

I2 or RI= Paid as agreed

I3 or R2= 30 + days past due

I3 or R3= 60 + days past due

I4 or R4= 90 + days past due

15 or R5= 120+ days past due and/or reported as a collection

17 or R7= Bankruptcy status

18 or R8= Repossession

19 or R9= Changed off (Account not paid)

Schedule a Consultation

Are you looking for help with your credit problems?  Schedule a consultation today. Call Rodney or Winky 864.772.3329

TOP EXPERT LOCAL CREDIT CONSULTING

 WE SPECIALIZE IN ALL YOUR CREDIT NEEDS