| Canada and the United States share many things in | | | | due date, but not more than 20 days, or four |
| common. However, there are some serious | | | | payments past due Pays (or paid) in more than 90 |
| differences in how credit scoring is carried out in the | | | | days from payment due date, but not more than 120 |
| two neighboring countries. Although credit scores are | | | | days, or four payments past due |
| three digits in both Canada and the United States and | | | | R5 Account is at least 120 days overdue, but is not |
| range from 300 to 900, Canada has a system of | | | | yet rated "9" |
| credit ratings. | | | | R6 This rating does not exist. |
| Canada's Office of Consumer Affairs (CCOA) lists | | | | R7 Making regular payments through a special |
| these credit ratings as follows: | | | | arrangement to settle your debts |
| R0 Too new to rate; approved but not used; | | | | R8 Repossession (voluntary or involuntary return of |
| R1 Pays (or paid) within 30 days of payment due date | | | | merchandise) |
| or not over one payment past due | | | | R9 Bad debt; placed for collection; moved without |
| R2 Pays (or paid) in more than 30 days from payment | | | | giving a new address or bankruptcy. Other rating |
| due date, but not more than 60 days, or not more than | | | | indicators that might be found on a report are "I" for |
| two payments past due | | | | installment credit or "O" for open credit line. |
| R3 Pays (or paid) in more than 60 days from payment | | | | Consequently, in Canada, one might receive a three |
| due date, but not more than 90 days, or not more than | | | | digit Canadian credit score as well as a two digit credit |
| three payments past due | | | | rating. If one is going to do business in Canada, one |
| R4 Pays (or paid) in more than 90 days from payment | | | | needs to be aware of these vital differences. |