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

Credit scores in Canada range from 300 to 900, but what do these numbers actually mean? This guide explains each credit score range, what it qualifies you for, and how to move up to the next tier.

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

Canadian Credit Score Ranges Overview

Detailed Breakdown by Range

Excellent Credit (760-900)

If your score is 760 or higher, you’re in the top tier of Canadian borrowers.

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
• Keep utilization under 10%
• Don’t close old accounts
• Limit new applications

Very Good Credit (725-759)

Very good credit opens almost all doors—you’re just below the premium tier.

What you qualify for:

To reach excellent (760+):

• Lower utilization further (aim for under 10%)
• Continue perfect payment history
• Let credit history age
• Avoid new applications for 6-12 months

Good Credit (660-724)

Good credit is the average Canadian range. You’ll be approved for most products but may not get the best rates.

What you qualify for:

Score at different levels:

To reach very good (725+):

• Pay all bills on time
• Reduce credit utilization to under 20%
• Don’t close old accounts
• Limit new credit applications
• Consider becoming authorized user on old account

Fair Credit (560-659)

Fair credit means limited options and higher costs. Focus on rebuilding.

What you qualify for:

Common causes of fair credit:

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

To reach good (660+):

• Make all payments on time (most important)
• Pay down balances to under 30% utilization
• Don’t close accounts, even unused ones
• Get a secured card if you can’t get unsecured
• Be patient—improvement takes 6-12 months

Poor Credit (300-559)

Poor credit significantly limits your options and usually indicates serious past issues.

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 bankruptcy: 6-7 years until removed from report
• Building back: 12-24 months to reach fair
• Focus: Secured cards, on-time payments, patience

Credit Score by Age Group

Credit scores typically increase with age due to longer credit histories:

Why scores increase with age:

• Longer credit history
• More diverse credit mix
• Less likely to miss payments
• Lower utilization

Credit Score Requirements by Product

Mortgages

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

Credit Cards

Car Loans

Lines of Credit

Equifax vs TransUnion Score Ranges

Both Canadian credit bureaus use the same 300-900 scale, but scores often differ:

Why scores differ:

• Different lenders report to different bureaus
• Reports update at different times
• Slight model differences

Typical difference: 10-50 points between bureaus is normal.

How Your Score Affects Interest Rates

Credit score directly impacts borrowing costs:

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

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

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

Score Improvement Timeline

How long it takes to move between tiers:

Quick Reference: Score Goals by Life Stage

How to Check Your Score

Related Resources

• How to Check Your Credit Score Free
• Equifax vs TransUnion Canada
• How to Build Credit in Canada
• Best Credit Builder Cards
• Credit Utilization Guide