What is a “rating”?
A rating is a doctor’s opinion of the amount of bodily impairment that you have sustained as a result of your injury. For example, a doctor may believe that you have lost 5% of the use and function of your arm due to injury. Different doctors may have different opinions concerning the same physical conditions.
Every piece of credit history information in your credit file is assigned a rating by the credit grantor. The most common ratings are “R” ratings. These are known as North American Standard Account Ratings and are the most frequently used. The “R” indicates that the item being described involves revolving credit. If you always pay on time, it will be coded an R1. If an amount was written off because you never paid it back, it is coded R9. The R ratings are a coding system that translates “on time”, “one month late”, “two months late”, etc., into two-digit codes.
