Credit Score Ranges Canada: What Your Score Means (2026)

Credit scores in Canada run from 300 to 900. That 600-point spread translates directly into thousands of dollars in interest saved or lost, faster or slower mortgage approvals, and easier or harder rental applications. Understanding exactly where you fall — and what each tier actually means for your financial life — is one of the more practical things you can do with 10 minutes.

Both Equifax and TransUnion generate scores using the same 300–900 scale, though your numbers from each bureau will rarely be identical. Lenders pull one or both reports depending on the product. For a deeper look at how your credit score is calculated, including the five factors that drive the number, see our full explainer.

If you want the broader credit-score system overview, visit the Credit Scores Hub.

Canadian Credit Score Ranges Overview

Ranges above are based on Equifax scoring. TransUnion uses different range boundaries — see the Equifax vs TransUnion section below.

Detailed Breakdown by Range

Excellent Credit (760-900)

A score of 760 or higher puts you in the top tier of Canadian borrowers. Lenders compete for your business at this level, which means you can expect the lowest advertised rates, the highest credit limits, and the smoothest approval experiences across every product category. Roughly one in three Canadians reaches this range, and it typically reflects years of consistent on-time payments combined with disciplined credit utilization — usually under 10%.

What you qualify for:

Typical characteristics:

• 10+ years of credit history
• Multiple account types (cards, loans, mortgage)
• Perfect or near-perfect payment history
• Low utilization (under 10%)
• Few recent applications

How to maintain:

• Continue on-time payments — a single missed payment can cost 40-80 points temporarily
• Keep utilization under 10%; under 30% is the widely-cited guideline, but high scorers stay well below that
• Don’t close old accounts — the average age of your accounts is a meaningful scoring factor
• Space out new credit applications; each hard inquiry typically costs 5-10 points and stays on your report for two years

Very Good Credit (725-759)

Very good credit opens almost every door. The primary difference between this tier and excellent is a modest rate premium on larger loans and occasional declines for ultra-premium credit products — think cards with strict income and score requirements. For most day-to-day borrowing, you are in excellent shape.

What you qualify for:

To reach excellent (760+):

• Lower utilization further — aim for under 10%
• Sustain a perfect payment record; even one late payment resets your momentum
• Let your credit history age naturally; moving from very good to excellent typically takes 12–36 months of consistent behaviour with no new negative marks
• Avoid new applications for at least 6-12 months

Good Credit (660-724)

Good credit is roughly the Canadian average. You will be approved for most products, but you are not yet earning the best-advertised rates. The practical difference between a 665 and a 720 score is significant — at the lower end, some premium cards and lenders will pass; at the upper end, you are close to unlocking very-good-tier pricing on mortgages and loans.

What you qualify for:

Score at different levels:

To reach very good (725+):

• Pay every bill on time — payment history is the single largest scoring factor
• Reduce credit utilization to under 20%; under 10% accelerates improvement
• Avoid closing old accounts, even cards you rarely use — open accounts with no balance quietly help your score
• Limit new credit applications for 12 months
• Consider asking a family member with excellent credit to add you as an authorized user on their account — their positive history can supplement yours without a new application on your file

Fair Credit (560-659)

Fair credit means limited options and higher costs across the board. Lenders will approve some applications but price the risk into your rate — sometimes aggressively. The priority at this stage is not chasing rewards cards. It is stabilizing your score and building a documented track record of on-time payments.

What you qualify for:

If you cannot qualify for an unsecured card, a secured credit card is the most effective rebuilding tool available. You put down a $200–$500 deposit as collateral, use the card for small purchases, and pay it in full each month. Most secured cards report to both bureaus, so the positive payment history accumulates exactly as it would with any unsecured card. For cards with the most flexible approval standards at this score range, see the easiest credit cards to get in Canada.

Common causes of fair credit:

Understanding what pushed your score down is the first step to fixing it. The most frequent culprits — missed payments, high balances, collections, and too many applications in a short period — are covered in detail in what hurts your credit score in Canada.

• Late payments in the past
• High credit utilization
• Limited credit history
• Recent bankruptcy or consumer proposal (late stage)
• Too many applications in a short period

To reach good (660+):

• Make all payments on time — this has more impact than any other single action
• Pay down balances to under 30% utilization
• Don’t close accounts, even unused ones
• Be patient — meaningful improvement typically takes 6-12 months of consistent behaviour

Poor Credit (300-559)

A score under 560 usually reflects serious past credit events: bankruptcy, a consumer proposal, multiple collections accounts, or an extended pattern of missed payments. Options are very limited at this range, but the situation is not permanent. Every Canadian who has rebuilt their credit from here started with the same first steps.

What you qualify for:

Common causes:

• Bankruptcy or consumer proposal
• Multiple collections accounts
• Judgments or legal issues
• Consistent late or missed payments
• Identity theft (if not addressed)

Recovery timeline:

After a bankruptcy or consumer proposal, the record remains on your report for 6-7 years in most provinces. During that period — and after — the same consistent habits that build credit from scratch will steadily lift your score. A step-by-step approach is covered in how to rebuild credit after bankruptcy in Canada. In general, reaching the fair range from poor typically takes 12-24 months with disciplined effort; going from poor all the way to good takes 24-48 months.

Credit Score by Age Group

Credit scores tend to rise with age, largely because older Canadians have longer histories, more diverse credit mixes, and — on average — more stable payment patterns. If you are younger and your score feels stuck, this is expected. Time in the credit system is irreplaceable, and consistency over years is the primary driver.

Why scores increase with age:

• Longer credit history
• More diverse credit mix
• Lower likelihood of missed payments
• Lower average utilization

Newcomers to Canada face an additional challenge: a credit history from another country does not transfer. If you arrived recently, building credit as a newcomer to Canada requires a slightly different starting strategy than the typical Canadian path.

Credit Score Requirements by Product

Mortgages

The minimum credit score for a CMHC-insured mortgage (down payment under 20%) is 600, but in practice most major bank lenders want to see 650-680 before approving. The difference between a 680 and a 760 score at today’s rates can mean $50,000–$100,000 in extra interest over a 25-year amortization. For a full breakdown of lender tiers and how your score affects the rate you are offered, see what credit score you need for a mortgage in Canada.

Note: Credit score is one factor. Lenders also consider income, down payment, and GDS/TDS debt ratios.

Credit Cards

Car Loans

The rate spread between what an excellent-credit borrower pays and what a fair-credit borrower pays on an auto loan is significant. On a $30,000 loan over five years, the difference between 6% and 15% is roughly $8,000 in extra interest charges. For a full lender-by-lender breakdown and tips on improving your position before applying, see what credit score you need for a car loan in Canada.

Lines of Credit

Equifax vs TransUnion Score Ranges

Both credit bureaus in Canada use the same 300-900 scale, but your score from each will almost never be identical. A gap of 10-30 points between bureaus is entirely normal — it reflects differences in which lenders report to which bureau, when those reports are updated, and minor algorithmic differences between the two scoring models. A gap above 50 points is worth investigating; pull both full reports to look for errors or accounts that appear on only one bureau. For a complete comparison, see Equifax vs TransUnion Canada.

Why scores differ:

• Different lenders report to different bureaus
• Reports update at different times
• Slight model differences between the two algorithms

How Your Score Affects Interest Rates

The dollar impact of moving between credit score tiers is significant enough to treat as a genuine financial goal. The tables below illustrate the real-world cost difference across two common borrowing scenarios using 2026 rate estimates.

Example: $400,000 Mortgage (25-year amortization)

Potential savings: Improving from 660 to 760 before buying a home could save $100,000+ over the life of the mortgage.

Example: $30,000 Car Loan (5 years)

Score Improvement Timeline

Credit score improvement is rarely quick, but it is predictable. The timeline below reflects typical outcomes for borrowers who make on-time payments consistently, reduce balances, and avoid new inquiries. Actual timelines vary depending on what caused the lower score in the first place. For a more detailed breakdown by starting scenario — including recovery after bankruptcy, missed payments, and consumer proposals — see how long it takes to rebuild credit in Canada.

If you want to accelerate the process, how to improve your credit score fast in Canada covers the highest-impact moves in order of priority, including which actions produce the fastest score gains.

Quick Reference: Score Goals by Life Stage

How to Check Your Score

All four major free options below use a soft inquiry — the type that does not affect your credit score — so you can check as often as you like without any downside. Check both bureaus before applying for a mortgage or car loan, since lenders may pull from either one.

For a full comparison of free and paid score-checking options, see how to check your credit score for free in Canada.

Related Resources

• Credit Score Explained: How It’s Calculated
• How to Build Credit from Scratch in Canada
• Credit Utilization: The 30% Rule Explained
• What Hurts Your Credit Score in Canada
• Best Credit Builder Cards in Canada