What is the good credit score in Canada?

Asked by: Nikolas Goodwin  |  Last update: February 9, 2022
Score: 4.1/5 (24 votes)

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.

What is the average credit score in Canada?

While credit scores in Canada range from 300 - 900, the average is around 650, according to TransUnion, though it varies from province to province. Once you've reached a credit score of 650 or higher, you'll be able to qualify for more financial products.

Is 800 a good credit score in Canada?

In Canada, your credit scores generally range from 300 to 900. The higher the score, the better. If you have scores between 800 and 900, you're in excellent shape.

Is it possible to get a 900 credit score in Canada?

In Canada, your credit score ranges from 300 to 900, 900 being a perfect score. If you have a score between 780 and 900, that's excellent. If your score is between 700 and 780, that's considered a strong score and you shouldn't have too much trouble getting approved with a great rate.

Is a 600 credit score good Canada?

What is a Good Credit Score in Canada? Credit scores in Canada is a number on a scale between 300 and 900. Generally, a credit score above 660 is good, above 725 is very good, and above 760 is excellent. Credit scores below 600 are considered poor.

What is a Good Credit Score in Canada?

16 related questions found

Is a 620 credit score good in Canada?

What Is A Good Credit Score In Canada? Good credit scores in Canada are usually 680 or higher. Of course, there are many different types of credit scores and scoring models.

Is a 700 credit score good?

A 700 FICO® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms. A great way to get started is to get your free credit report from Experian and check your credit score to find out the specific factors that impact your score the most.

Is 748 a good credit score Canada?

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.

Is 836 a good credit score?

Your 836 FICO® Score is nearly perfect and will be seen as a sign of near-flawless credit management. Your likelihood of defaulting on your bills will be considered extremely low, and you can expect lenders to offer you their best deals, including the lowest-available interest rates.

Is 862 a good credit score?

An 862 credit score is excellent.

Is a 720 credit score good in Canada?

A score of 800 or above is considered excellent. A score between 720 and 799 is considered very good. Between 650 and 719, you are considered to have a good credit score. ... Anything under 600 is deemed to be a poor credit score.

Is a 900 credit score possible?

A credit score of 900 is either not possible or not very relevant. ... On the standard 300-850 range used by FICO and VantageScore, a credit score of 800+ is considered “perfect.” That's because higher scores won't really save you any money.

Is a 750 credit score good Canada?

A good credit score starts at a base rating of 650 and goes as high as 900. ... So if you have a rating of 650 or above, you're considered low-risk. Once you hit 750, you're in the “excellent” range, which is often lumped into the “good” category.

Can you get a home loan with 700 credit score?

A 700 credit score meets the minimum requirements for most mortgage lenders, so it's possible to purchase a house when you're in that range. ... A credit score of 700 also might not qualify you for the best interest rate on your mortgage loan, you may still want to work on improving your credit scores to save on interest.

Is 775 a good credit score?

Your score falls within the range of scores, from 740 to 799, that is considered Very Good. A 775 FICO® Score is above the average credit score. Consumers in this range may qualify for better interest rates from lenders. 25% of all consumers have FICO® Scores in the Very Good range.

Is 840 a good credit score?

Your 840 FICO® Score 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. 21% of all consumers have FICO® Scores in the Exceptional range.

Is 850 a good credit score Canada?

In Canada, 850 is an excellent credit score. If your credit score is at this level, congratulations! You're doing exceptionally well in managing your finances and credit.

Is a credit score of 863 good?

An 863 credit score is excellent.

What percentage of population has over 800 credit score?

Percent of Americans Who Have a Credit Score of 800 or Higher. Another report from The Ascent reveals that only 22 percent of Americans have a credit score of 800 or greater7.

Can I buy a house with a 748 credit score?

A 748 credit score is a good credit score. The good-credit range includes scores of 700 to 749, while an excellent credit score is 750 to 850, and people with scores this high are in a good position to qualify for the best possible mortgages, auto loans and credit cards, among other things.

Is a 648 credit score good?

Your score falls within the range of scores, from 580 to 669, considered Fair. A 648 FICO® Score is below the average credit score. Some lenders see consumers with scores in the Fair range as having unfavorable credit, and may decline their credit applications.

Is 789 a good credit score?

A 789 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

Is a 725 credit score good?

A FICO® Score of 725 falls within a span of scores, from 670 to 739, that are categorized as Good. ... 21% of U.S. consumers' FICO® Scores are in the Good range. Approximately 9% of consumers with Good FICO® Scores are likely to become seriously delinquent in the future.

Is a 770 credit score good?

Your score falls within the range of scores, from 740 to 799, that is considered Very Good. A 770 FICO® Score is above the average credit score. Consumers in this range may qualify for better interest rates from lenders. 25% of all consumers have FICO® Scores in the Very Good range.

How good is an 850 credit score?

Your 850 FICO® Score is nearly perfect and will be seen as a sign of near-flawless credit management. ... An Exceptional credit score can mean opportunities to refinance older loans at more attractive interest, and excellent odds of approval for premium credit cards, auto loans and mortgages.