North American Standard Account Ratings (R Ratings)
The R in R ratings stands for revolving credit as this is the type of credit it is.
| RType | What Does This R Type Mean? |
|---|---|
| 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 |
| 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″ |
| R6 | This rating does not exist. |
| R7 | Making regular payments through a special arrangement to settle debts |
| R8 | Repossession (voluntary or involuntary return of merchandise) |
| R9 | Bad debt; placed for collection; moved without giving a new address. |
FAQ’s
Why doesn’t R6 exist?
We have no idea, we suspect it’s to give room between late payments and debt that has gone to a default/bad status.