The widespread use of the rating system in the life of almost every person raises the question of the value of their use, the objectivity and comprehensiveness of ratings. In this article, the authors summarized the most common and generally accepted definitions of the word “rating” and proposed an integrated definition of the term. The classification of the concept of “rating” on several grounds is presented, approaches (positions) reflecting the place and role of ratings in modern society are systematized. Based on the information received, the pros and cons of using them are described.