Common Questions

What is the difference between R1 and R9?

"R" refers to a revolving account, "I" refers to an individual account, and "M" refers to a mortgage account. This rating is supplied by the creditor. It is their rating of you as a borrower. There are only two ratings which are not negative. A rating of "1" is good and a rating of "0" means that they don't have enough history with you to rate you.

Every other rating, "2" through "9" is negative. In our experience, creditors don't look at these ratings when you apply for financing. The creditor usually looks at the late pays or other notations such as "charge off" or "collections." However, any rating but a "1" or "0" indicates that you have problems with the account.



What is a charge off?

 
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