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On this page Financial information on your credit report What to look for on your credit report Sample credit reports. Table 1: What letters mean in a rating on a credit report Letter Meaning Example I Installment credit You borrow money for a specific period of time. You make regular payments in fixed amounts until you pay off the loan.
Car loan O Open status credit You may borrow money when you need to, up to a certain limit. Mobile phone account R Revolving or recurring credit You may borrow money up to your credit limit on an ongoing basis.
You make regular payments in varying amounts depending on the balance of your account. Credit card M Mortgage loan Mortgage information may be included on your credit report.
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Any number higher than 1 will likely hurt your credit score. Sample credit reports To better understand how to read your credit report, find a sample credit from: TransUnion Canada Equifax Canada Note: These examples are for illustration purposes only. Like Verizon Media, our partners may also show you ads that they think match your interests. Learn more about how Verizon Media collects and uses data and how our partners collect and use data. Select 'OK' to allow Verizon Media and our partners to use your data, or 'Manage options' to review our partners and your choices.
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