A credit rating in an estimate of how well a person meets their financial commitments, according to payment history and current loan status.Equifax, one of Canada’s largest credit bureaus, measures your credit score on a scale of R1 to R9. An R1 rating means you make payments on time, whereas an R9 means you have declared bankruptcy. If you have filed a consumer proposal, you will have an R7 rating—a very low credit score that will remain unchanged until your proposal ends.