Comprehensive Credit Report

Definition of letters

R - Revolving (you have revolving credit, such as a credit card)

O - Open

I - Installment (given credit on an instalment basis, such as for a car loan)

L - Lease

C - Credit line

M - Mortgage

Definition of numbers

0 - Too new to rate; approved but not yet used

1 - Pays (or paid) within 30 days of billing or has no more than one late payment

2 - Pays (or paid) 31-60 days late or has more than two late payments

3 - Pays (or paid) 61-90 days late

4 - Pays (or paid) 91-120 days late or has more than four late payments

5 - Pays (or paid) more than 120 days late or has more than four late payments, but not yet rated 9

6 - Makes regular payments under a consolidation order, credit, or similar agreement

7 - Makes regular payments under a consolidation order, credit, or similar agreement

8 - Repossession

9 - Bad credit, sent to a collection agency, disappeared

How long does credit history stay on your credit file?

Financial hardship information

- 1 year

Repayment history

- 2 years

Current consumer credit obligations

- 2 years

Court judgment

- 5 years

Credit enquiry

- 5 years

Default

- 5 years (paid) / 7 years (unpaid)

Debt agreement

- 7 years

Bankruptcy

- 7 years