How do I check my credit score for free in Canada?

You can check your credit score for free through Borrowell (Equifax score, updated weekly), Credit Karma (TransUnion score, updated weekly), or directly via Equifax and TransUnion — both offer free annual credit reports. Many Canadian banks (RBC, TD, CIBC, BMO) also show your score in their app for free.

How long does it take to build credit in Canada?

With no credit history, you can reach a good score (660+) in as little as 6–12 months with responsible use of a secured or starter credit card. Building an excellent score (760+) typically takes 2–3 years of consistent on-time payments and low utilization.

What hurts your credit score the most?

The biggest negative factors are: missed or late payments (single biggest factor), maxing out credit cards (high utilization), applying for several new credit accounts in a short period (multiple hard inquiries), accounts sent to collections, and consumer proposals or bankruptcies.

Does checking your own credit score lower it?

No. Checking your own credit score is a "soft inquiry" and has zero impact on your score. Only hard inquiries — when a lender checks your credit for a loan or card application — can temporarily lower your score by a few points.

What credit score do I need for a mortgage in Canada?

For an insured mortgage (less than 20% down), most lenders require a minimum score of 680. For a conventional mortgage, 680 is common but some lenders accept 620+. To get the best mortgage rates, aim for 720+. Alternative and B lenders may approve scores as low as 550–600 but at significantly higher rates.

Credit Scores in Canada: Complete Guide 2026

Q: What is a good credit score in Canada?

In Canada, credit scores range from 300 to 900. A score of 660–724 is considered good, 725–759 is very good, and 760+ is excellent. Lenders use different thresholds, but most mortgage lenders want at least 680, and the best mortgage rates typically require 720+.

Your credit score is one of the most important numbers in your financial life. It determines whether you get approved for a mortgage, car loan, or credit card — and directly affects the interest rate you pay. This guide covers everything you need to know about credit scores in Canada.

What is a credit score?

A credit score is a three-digit number between 300 and 900 that represents your creditworthiness — essentially, how likely you are to repay borrowed money based on your past behaviour. In Canada, credit scores are calculated by two credit bureaus: Equifax and TransUnion. Both collect similar data from lenders, but their scoring models differ slightly, so your scores may vary between the two.

Lenders — banks, mortgage lenders, credit card companies, car dealerships — pull your credit report before approving credit. The higher your score, the lower the risk you represent, and the better the terms you’ll typically receive.

Credit score ranges in Canada

Score Range	Rating	What It Means
760–900	Excellent	Best rates on all products; easy approvals
725–759	Very Good	Near-best rates; strong approval odds
660–724	Good	Approved at competitive rates
560–659	Fair	Approved but at higher rates; some restrictions
300–559	Poor	Difficult approvals; subprime rates or denials

What makes up your credit score?

Both Equifax and TransUnion use variants of the FICO scoring model. Five factors determine your score:

Payment history (~35%) — Whether you pay on time. Even one missed payment can drop your score significantly a late payment stays on your report for 6 years.
Credit utilization (~30%) — How much of your available credit you’re using. Keep each card below 30% of its limit; below 10% for an excellent score.
Length of credit history (~15%) — How long your accounts have been open. Older accounts help. Closing your oldest card can hurt your score.
Credit mix (~10%) — Having a mix of revolving credit (cards) and installment loans (car loan, mortgage) shows you can handle different types of credit.
New credit inquiries (~10%) — Every hard inquiry (lender checking your credit for an application) stays on your report for 3 years and may lower your score temporarily by 5–10 points.

How to check your credit score for free

You don’t need to pay to see your credit score. Free options:

Borrowell — Free Equifax score, updated weekly
Credit Karma — Free TransUnion score, updated weekly
Your bank app — RBC, TD, CIBC, BMO, and Scotiabank show your score for free inside online banking
Equifax Canada — Free annual credit report (not score) at equifax.ca
TransUnion Canada — Free annual credit report (not score) at transunion.ca

See our full guide: How to Check Your Credit Score for Free in Canada

Equifax vs TransUnion: What’s the difference?

Canada has two main credit bureaus. Both receive data from the same lenders but maintain separate files and use slightly different scoring models. Your Equifax and TransUnion scores may differ by 20–50 points — this is normal.

Key differences:

Equifax is more commonly used by mortgage lenders
TransUnion is more commonly used for auto loans and credit cards
Some lenders pull both; others use only one

Learn more: Equifax vs TransUnion Canada — Which Score Matters More?

How to improve your credit score

The most effective steps to raise your score:

Pay every bill on time — Set up autopay for at least the minimum payment
Pay down card balances — Get utilization on each card below 30%, ideally below 10%
Don’t close old accounts — Length of history matters; keep old zero-balance cards open
Limit hard inquiries — Don’t apply for multiple credit products within a short period
Get a secured card if you have no credit — Secured cards report to bureaus and build history
Become an authorized user — Being added to a family member’s well-managed card can help
Dispute errors on your report — Inaccurate negative items can be removed

See our guides:

How long does negative information stay on your credit report?

Item	How Long It Stays
Late payment	6 years from the date of the missed payment
Collection account	6 years from the date of last activity
Hard inquiry	3 years (impact fades after 12 months)
Consumer proposal	3 years after completion (or 6 years from filing)
Bankruptcy (1st time)	6–7 years after discharge
Bankruptcy (2nd time)	14 years after discharge

Credit score for mortgages

Your credit score is the single most-screened factor in a mortgage application. Here’s how Canadian lenders use it:

720+ — Excellent. You’ll qualify with every A lender at the best available rates.
680–719 — Good. You’ll qualify with all major banks, possibly at slightly higher rates.
620–679 — Acceptable. Most A lenders will approve you; some may require larger down payments.
560–619 — B lender territory. You can get a mortgage but at higher rates through alternative lenders.
Below 560 — Private lender territory. Short-term mortgages at high rates; focus should be on rebuilding.

Credit score articles

Understanding your score

What Is a Good Credit Score in Canada? walks through every score range and what each means for your borrowing options. The Difference Between Credit Score and Credit Report explains what each document contains and why you need to check both. The inquiry articles — Hard vs Soft Credit Inquiry, Soft vs Hard Credit Check Canada, and How Long Does a Hard Inquiry Stay on Credit? — cover what triggers each type, how long the impact lasts, and the rate-shopping window for mortgages and auto loans.

Checking & monitoring

How to Dispute a Credit Report Error in Canada walks through the full PIPEDA dispute process — errors are more common than most Canadians expect and a corrected entry can add 50–100 points in a single update cycle.

Building & improving

How to Build Credit from Scratch in Canada is the starting point for newcomers and anyone without a credit file; How Long to Build Good Credit in Canada maps the realistic score trajectory month by month from a zero starting point. The fastest shortcut is the Authorized User Credit Card Canada strategy — being added to a family member’s established card can import years of positive history within one billing cycle. For recovery after serious financial events, How to Rebuild Credit After Bankruptcy covers the step-by-step path from discharge to a 680+ score.

What affects your score

Credit Utilization Canada covers the second-largest scoring factor in depth, including per-card calculation and the statement-close-date timing detail most people miss. What Hurts Your Credit Score in Canada ranks every negative event by severity and duration — from a missed payment (6 years on file) to closing a card (recoverable within months). For diagnosing an unexpected drop, Why Did My Credit Score Drop 40 Points? identifies the six most common causes with score-impact estimates for each.

Mortgages & credit

What Credit Score Do You Need for a Mortgage in Canada? covers every lender tier — A-lenders, B-lenders, and private lenders — with the rate premiums by score band; on a $500,000 mortgage, the gap between a borderline and a strong score can exceed $13,000 over five years. What Credit Score Do You Need for a Car Loan? applies the same three-tier framework to auto financing.

Best Credit Cards in Canada — Find the right card for your score level
How to Get Out of Debt — Debt repayment improves your score
Mortgage Rates in Canada — See how your score affects the rate you qualify for
Banking Basics — Build a strong financial foundation
First-Time Home Buyers — Prepare your score before mortgage pre-approval
Newcomers Guide — Build Canadian credit from scratch after arrival