Your Credit Report Has Codes — Here’s What They Mean

Half of Canadians never read their credit report. 1. Your Canadian credit report has four sections: personal info, credit accounts, inquiries, and public records — and errors in any one of them can quietly cost you higher rates on your mortgage or car loan. 2. Those cryptic codes on your report — like R1 or I3 — actually tell lenders everything: the letter shows the account type, and the number runs from 1 (paid on time) all the way to 9 (bad debt or collections). → 1 to 9 3. Hard inquiries — like applying for a credit card or mortgage — stay on your report for three years and can nudge your score down, but checking your own report never touches your score at all. → 3 years 4. Canadian credit scores run from 300 to 900 — most lenders want to see 660 or higher to call you good, and 760 or higher to call you excellent — so knowing where you stand is the first move. → 300–900 Full guide linked below go check your report today 🌐 getwealthy.blog #CanadaFinance #PersonalFinance #CanadianMoney #MoneyTips #Canada