Question about Credit Reports

[Tharyn]

Hey all,

I just pulled up my Credit Report with Equifax (score and all), but after browsing these forums, I see people mentioning things like a rating between 1-9, like R1, or I1 etc...

Nothing like this appears on my credit report, can anyone explain where I could find this out?

Thanks!

Mark

EDIT: Also is Equifax and TransUnion the only Credit Bureaus used in Canada? Or should I be checking my history with any others?

[shoppingmama]

We just did the same and if everything is "Paid as agreed and up to date" it would be an "R1" or "I1" Only financial companies get those ratings I assume.

[mannyb]

"R" stands for revolving credit like lines of credit or credit cards and "I" stands for installment loans, like car loans.

R1 means all payment are made in time, no 30+ days late all the way up to R9 meaning bad debt write-off.

[Tharyn]

Ah, excellent :) I'm all up to date, but just wanted to make sure.

Thanks!

--Mark

[aingaran]

I have a question about this for any of the credit experts.

All my listings are I1 or R1..

I've had a few R2s and R3s while I was still in School. The last listing of R2/R3 was in April 2001. (Almost 5 years ago.)

How negatively does this reflect any possible loan/credit application?

Thanks,

[st7860]

I have a question about this for any of the credit experts.

All my listings are I1 or R1..

I've had a few R2s and R3s while I was still in School. The last listing of R2/R3 was in April 2001. (Almost 5 years ago.)

How negatively does this reflect any possible loan/credit application?

Thanks,

hardly any affect at all. #1, because its 5 years old, and #2, because its not a collection.

http://www.bayhouse.com/discus/messages/123/655.html?962170897

[aingaran]

Does this apply to Canadians too? Or is that strictly for US residents and their credit system?