Grading approaches differ in undergraduate higher educational settings, but most often reflect traditional systems that support an unbalanced power dynamic that does not acknowledge or support continuous learning. These practices are then taken up by pre-service teachers and applied within their future classrooms with children. Using Critical Theory and Transformative Learning Theory, we analyzed our own grading practices for the purpose of designing and implementing a more equitable approach to assessment. The process led us to think about what we want grades to represent and what matters most to us as educators. The paper includes our process and the challenges we have faced. We hope it is a valuable resource for educators who are considering adjustments to their grading systems.