Every piece of credit history information in your credit file is assigned a rating by the credit grantor.
The following is a brief explanation of the Codes used by the credit bureau.
There are three classifications used to help identify the account that is being rated. They are:
| R | - | This stands for Revolving or open ended accounts such as a credit card or line of credit (you make a payment to your card but you can re-use the available limit) |
| I | - | This stands for Installment accounts or fixed number of payments (i.e.: car loan) You pay X amount of dollars each month for set amount of months. |
| O | - | This stands for Open accounts |
| Rating | What it Means |
| R0 | Too new to rate; approved but not used |
| R1 | Pays (or paid) within 30 days of payment due date or not over one payment past due; paid as agreed |
| R2 | Pays (or paid) in more than 30 days from payment due date, but not more than 60 days, or not more than two payments past due |
| R3 | Pays (or paid) in more than 60 days from payment due date, but not more than 90 days, or not more than three payments past due |
| R4 | Pays (or paid) in more than 90 days from payment due date, but not more than 120 days, or four payments past due |
| R5 | Account is at least 120 days overdue, but is not yet rated "9" on its way to collection agency |
| R7 | Making regular payments through a special arrangement to settle your debts (Proposal) |
| R8 | Repossession (voluntary or involuntary return of merchandise) |
| R9 | Bad debt; placed for collection; moved without giving a new address; written off |