A popular approach to cost-sensitive learning is to rescale the classes according to their misclassification costs. Although this approach is effective in dealing with binary-class problems, recent studies show that it is often not so helpful when being applied to multiclass problems directly. This paper analyzes that why the traditional rescaling approach is often helpless on multi-class problems, which reveals that before applying rescaling, the consistency of the costs must be examined. Based on the analysis, a new approach is presented, which should be the choice if the user wants to use rescaling for multi-class cost-sensitive learning. Moreover, this paper shows that the proposed approach is helpful when unequal misclassification costs and class imbalance occur simultaneously, and can also be used to tackle pure class-imbalance learning. Thus, the proposed approach provides a unified framework for using rescaling to address multi-class cost-sensitive learning as well as multi-class class-imbalance learning.