Approximately 41% to 42% of Canadian consumers have a credit score of 800 or higher, placing them in the highest, "excellent" credit tier. This indicates that nearly 1 in 2 Canadians holds a score in this range, making it a common, achievable, and highly creditworthy level of creditworthiness for a significant portion of the population.
According to the latest FICO report from 2024, approximately 41.1% of Canadian consumers fall into the highest credit score tier of 800 or above. This group demonstrates excellent credit profiles, consistent repayment of debt, low utilization, and a diverse credit mix.
In Canada, it's quite uncommon to have a credit score calculation of 900, no matter your personal finance situation. In fact, only 1%-6% of people have credit score calculations of 850 or higher, and it's very difficult to get a perfect credit score calculated to 900.
760-900: Excellent
In fact, in Canada, the average credit score is 672, which would mean you'd need to get more than 200 additional points to even be in sight of a credit score of 900. Keep in mind that credit bureaus and lenders aren't really looking for perfection (they know how hard it is to attain 900).
In Canada, according to Equifax, a good credit score is usually between 660 to 724. If your credit score is between 725 to 759 it's likely to be considered very good. A credit score of 760 and above is generally considered to be an excellent credit score. The credit score range is anywhere between 300 to 900.
39% of Canadians aged 55-64 have less than $5,000 in savings (-5 pts); 73% have $100,000 or less in savings. More than one in three (36%) women aged 55-64 have no savings at all, compared to one in five (22%) men.
To start off: No, it's not possible to have a 900 credit score in the United States. In some countries that use other models, like Canada, people could have a score of 900. The current scoring models in the U.S. have a maximum of 850. And having a credit score of 850 is rare.
Twenty-four percent of Americans have a credit score between 800 and 850, considered "exceptional" by FICO. A credit score at the top of that range -- 850 -- is perfect. Twenty-four percent have a FICO® Score between 750 and 799, making the "very good" bracket. Data source: FICO (2024).
It might also be hard to achieve an 800 credit score until you have a mix of credit under your name. This doesn't mean you should take out a mortgage or a car loan to get your credit score over 800, but if the only credit accounts on your file are credit cards, you might struggle to reach that 800 credit score.
Your 800 FICO® ScoreΘ falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit.
Federal Reserve data shows that about 23% of Americans have no debt.
It is rare to have an 850 credit score, but not impossible, and may be useful when applying for credit opportunities. Achieving and maintaining an 850 credit score can be difficult as it takes time, diligence and commitment to manage your credit effectively.
If you were to estimate what amount you should have saved for retirement based on the Canadian average, a single person should have $800,000, and a couple should have $1.6 million. This is based on the amount lasting you roughly 25 years at $32,000 annually.
The "27.39 rule" (often rounded to $27.40) is a simple financial strategy to save $10,000 in one year by consistently setting aside $27.40 every single day, making it an achievable micro-saving habit to build wealth or an emergency fund. It turns the daunting goal of saving $10,000 into a manageable daily action, emphasizing consistency over large lump sums.
Myth 1: Being debt-free means being rich.
A common misconception is equating a lack of debt with wealth. Having debt simply means that you owe money to creditors. Being debt-free often indicates sound financial management, not necessarily an overflowing bank account.
By the second quarter of 2025, American adults collectively carried more than $1.21 trillion in credit card debt. This is one of the highest totals on record and an increase of 6.14% increase from the previous year. On an individual level, that translates to an average balance of about $5,595 per cardholder.