![]() You’re also going to be offered the best interest rates and be able to save loads of cash on your borrowed money. ![]() You’re almost guaranteed approval for any financing you apply for should your income support the payments. If your score falls within the Excellent credit score range in Canada, the world is pretty much your oyster. Here’s a quick breakdown of what each credit score range in Canada means: Excellent credit (A credit score of 760-900) The credit score range in Canada is between 300 and 900, with the higher the better. Understanding The Credit Score Range In Canada People with a good credit score in Canada have access to far better interest rates across all credit products, plus a better chance of getting approval for the credit products you apply for. Even though “good” technically starts at 660, getting your credit score above 700 is going to open up many new options for you. ![]() To have what is considered a good credit score in Canada, you want to aim for a credit score above 700. You can also find your free credit score here.Ĭheck out this infographic that shows the average credit scores in Canada: With Borrowell, you'll get weekly credit score updates, see exactly what's impacting your credit score, and get personalized tips on how to improve your score. A credit score below 650 is going to make it hard to qualify for new credit, and anything you are approved for will likely come with very high-interest rates.ĭo you know your credit score? You can use Borrowell to get your credit score in Canada for free. Once you've reached a credit score of 650 or higher, you'll be able to qualify for more financial products. While credit scores in Canada range from 300 - 900, the average is around 650, according to TransUnion, though it varies from province to province. Is your credit score better than the average credit score? Maybe it’s worse?įirst, let's answer the question you are here to find out: What is the average credit score in Canada? Often, Canadians want to know how they measure up to other people when it comes to their credit score. What is the average credit score in Canada, and how do you rank among average Canadian credit scores? More so, what is a good credit score in Canada? What is the Average Credit Score in Canada and How Do You Compare?
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