I have a lot of student loans (15 or so) I just consolidated that are listed as R0. What is the score impact between R0 and R1? Could I dispute the R0's and say they should be R1? What would that do for my score? Dan
I thought R0 meant Unrated, or Too New To Rate, or something like that. When my Target Guest card went from R0 to R1 after a few months of getting it, my score increased by only a few points...but that could've been from anything, really. wajaba
R0 Too new to rate; approved but not used R1 Pays within 30 days of billing, or pays as agreed R2 Pays in more than 30 days but less than 60 or one payment past due R3 Pays in more than 60 days but less than 90 or two payments past due R4 Pays in more than 90 days but less than 120 or three or more payments past due R5 Account is at least 120 days past due but is not yet rated R9 R6 No rating exists R7 Paid through a consolidation order, consumer proposal or credit counselling debt management program R8 Repossession R9 Bad debt or placed for collection or bankruptcy
If you just consolidated, it may take a month or two for them status to update to R1. You may want to just give it some time, otherwise, you could potentially be losing a positive account if the CRA's just decide to delete.
