What does R mean on your credit report?
"R” refers to revolving credit like a credit card, where you have a credit line that you borrow against each month and then repay only the amount that you use. The R rating reflects your repayment history for revolving credit accounts.
The most common is “R,” which means you have revolving credit, such as a credit card. An “I” means you were given credit on an installment basis, such as for a car loan, and an “O” means open credit, such as a line of credit.
'R' refers to revolving credit, such as a credit card, where you make regular payments in varying amounts, and you can borrow up-to a credit limit. 'O' refers to open credit, such as a line of credit, where you borrow up-to a certain limit, and the total balance is due at the end of each period.
An "R" rating is also included in your credit score. This rating is assigned by lenders based on your past history of borrowing and paying off debts, and it can range from 1 through 9. An R1 rating is the best, meaning you pay your debts on time, within 30 days, and an R9 is the worst.
X: 180+ days overdue. C: 'Account is closed' A: 'Not associated' R: 'Not reported' – the bank or credit provider didn't provide payment history for this period, which is a fault with the credit provider, not necessarily you as an account holder.
Check your payment history. “l1“ means your last reported car loan payment was made as agreed. Check your payment history. “R2“ means that you made a credit card payment 30 to 60 days after the payment due date. Check to see that information about any reported bankruptcy is correct.
A consumer proposal will stay on your credit report for 3 years after you've finished paying it off. If you are able to finish paying off your consumer proposal in 3 years, the R7 rating will stay on your credit report for a total of 6 years. This being the case it makes sense to pay it off as quickly as possible.
R1 is an indication of a good payment history and R9 is an indication of a poor payment history. I1-I9 payment codes. The range of payment codes for installment accounts. I1 is an indication of a good payment history and I9 is an indication of a poor payment history.
For example, if you have a credit card account that you paid on time, it will be reported as “R1.” If you also have a line of credit, and you missed your payment by 45 days, it would show up as “O2.”
Explanation: In credit reporting, an R 4 rating signifies a generally poor credit. This rating indicates that the account being examined has been 90-120 days past due at least once, but no more than twice.
How does R rating work?
R-Values. An insulating material's resistance to conductive heat flow is measured or rated in terms of its thermal resistance or R-value -- the higher the R-value, the greater the insulating effectiveness. The R-value depends on the type of insulation, its thickness, and its density.
The higher the R-Value, the higher thermal resistance and thus, insulating value. R-Values for flat objects such as for sheet insulation are easy to calculate. It is simply the thickness of the insulation in inches divided by the thermal conductivity of the insulation.
Spray foam and rigid foam boards offer the highest R-values per inch, typically R-5 to R-8. Fiberglass batt ratings range from R-2.9 to R-3.8 per inch.
| Installment Account (fixed number of payments | Revolving or Option Account (Open-ended) | Meaning |
|---|---|---|
| I8 | R8 | Repossession |
| I9 | R9 | Bad debt; placed for collection |
| IA | RA | Account is inactive |
| IB | RB | Lost or stolen card |
It is theoretically possible to get a 700 credit score with a collection account on your credit report. However, it is not common with traditional scoring models. A derogatory mark like a collection account on your credit report can make it incredibly difficult to obtain a good credit score like 700 or over.
Lenders generally see those with credit scores 670 and up as acceptable or lower-risk borrowers. Those with credit scores from 580 to 669 are generally seen as “subprime borrowers,” meaning they may find it more difficult to qualify for better loan terms.
R-Squared (R²) is one of the statistical tools to measure the risk of a mutual fund. R-squared compares the performance of a mutual fund scheme to a given benchmark index. There are tools like alpha, beta as well, which measure the risk of a mutual fund in other ways.
R-Squared: Definition, Calculation Formula, Uses, and Limitations. R-squared is a statistical measure that represents the proportion of the variance for a dependent variable that's explained by an independent variable.
R-squared and the Goodness-of-Fit
For the same data set, higher R-squared values represent smaller differences between the observed data and the fitted values. R-squared is the percentage of the dependent variable variation that a linear model explains. R-squared is always between 0 and 100%:
Most negative items should automatically fall off your credit reports seven years from the date of your first missed payment, at which point your credit score may start rising. But if you are otherwise using credit responsibly, your score may rebound to its starting point within three months to six years.
How long does it take to build credit from 570 to 700?
The time it takes to raise your credit score from 500 to 700 can vary widely depending on your individual financial situation. On average, it may take anywhere from 12 to 24 months of responsible credit management, including timely payments and reducing debt, to see a significant improvement in your credit score.
The debt will likely fall off of your credit report after seven years. In some states, the statute of limitations could last longer, so make a note of the start date as soon as you can.
D represents 'Default', which is recorded once the lender believes that the credit agreement has broken down, usually due to a sustained period of arrears. A default is also a form of account closure, meaning that defaulted accounts will be removed from your Credit Report once six years pass from date of default.
Debts in a consumer proposal are coded as R7 on a credit report, meaning you've agreed to settle them with your creditors. For some perspective, a rating of R1 is considered to be perfect credit, while bankruptcy is recorded as R9. R9 is essentially the lowest rating someone can have.
A simple update could change your report. If the R9 is related to unpaid debts, you will want to tackle those as soon as possible. Make a commitment to repay your creditors. If your debts are overwhelming and you don't think you can manage the repayments, you should contact a licensed insolvency trustee.
