Definition
The credit file is the detailed statement of your Canadian credit history, maintained by the two main agencies: Equifax Canada and TransUnion Canada. It contains each open account, balance, month-by-month payment history, closed accounts (kept 6-7 years), collections, bankruptcies (6 years post-discharge for first, 14 years for second), and inquiries (creditor pulls, kept 3 years).
Reading: each account is coded R1 (on-time payment) to R9 (write-off) on the "R" scale. An I ("installment") is a fixed-payment loan (auto, personal); an O ("open") is a line or card. Mortgages typically appear under M.
Get your full file for free by mail 1-2 times per year from both agencies (legal right), or online via paid subscription or your bank. Mortgage brokers consult your file with your written consent, and an experienced broker can interpret anomalies (disputed account, duplicates) before they sink your application.