Canadian Credit Score Guide: Ranges, How to Check & Improve (2026)

By Wealthvieu · Updated

Your credit score in Canada ranges from 300 to 900 and determines the interest rates you’ll pay on mortgages, credit cards, and loans. Here’s how it works.

Table of Contents

Canadian Credit Score Ranges

Both Equifax and TransUnion use the same 300–900 scale:

Score Range Rating What It Means
800 – 900 Excellent Best rates, instant approvals
720 – 799 Very Good Great rates on most products
650 – 719 Good Approved for most credit products
600 – 649 Fair Higher interest rates, some denials
560 – 599 Below Average Limited options, high rates
300 – 559 Poor Likely declined, secured products only

Average Canadian Credit Score

Demographic Average Score
National average ~680
Age 18–25 620
Age 26–35 660
Age 36–45 680
Age 46–55 700
Age 56–65 730
Age 65+ 750

Credit scores tend to improve with age due to longer credit history and more stable finances.

Credit Score by Province

Province Average Score
British Columbia 695
Ontario 685
Alberta 675
Quebec 680
Saskatchewan 670
Manitoba 665
Nova Scotia 675
New Brunswick 670
Newfoundland & Labrador 665
Prince Edward Island 670

How to Check Your Score (Free)

Service Bureau Cost Soft Pull?
Borrowell Equifax Free Yes
Credit Karma TransUnion Free Yes
Equifax (direct) Equifax Free (basic) / $19.95+ (full) Yes
TransUnion (direct) TransUnion Free by mail / $23.95+ online Yes
Many bank apps Varies Free (for customers) Yes

Checking your own score is a “soft pull” and does not affect your score.

What Affects Your Credit Score

Factor Weight Description
Payment history ~35% On-time payments on all accounts
Credit utilization ~30% Percentage of available credit used
Credit history length ~15% Age of oldest and average accounts
Credit mix ~10% Variety of credit types
New credit inquiries ~10% Recent hard pulls and new accounts

Payment History (35%)

Payment Pattern Impact
Always on time Very positive
30 days late Moderate negative (stays 6 years)
60 days late Significant negative
90+ days late Severe negative
Sent to collections Very severe negative

A single 30-day late payment can drop your score by 60-110 points.

Credit Utilization (30%)

Utilization Impact Example ($10,000 limit)
0% Slightly negative (no activity) $0 balance
1–10% Best for score $100 – $1,000
11–30% Good $1,100 – $3,000
31–50% Moderate negative $3,100 – $5,000
51–75% Significant negative $5,100 – $7,500
76–100% Very negative $7,600 – $10,000
Over 100% Severe negative Over limit

How Credit Scores Affect Mortgage Rates

Credit Score Typical Mortgage Rate Monthly Payment ($400K, 25yr) Total Interest
800+ (excellent) 4.5% $2,223 $266,900
720-799 4.7% $2,268 $280,400
680-719 5.0% $2,335 $300,500
650-679 5.5% $2,444 $333,200
600-649 6.0%+ (B lender) $2,556 $366,800
Under 600 7%+ (private lender) $2,756 $426,800

The difference between excellent and fair credit can cost $67,000+ in extra interest over 25 years on a $400,000 mortgage.

How to Improve Your Credit Score

Quick Improvements (1-3 Months)

Action Expected Impact Timeline
Pay down credit card below 30% utilization +20 to +50 points 1-2 months
Become an authorized user on a good account +10 to +30 points 1-2 months
Dispute errors on credit report Varies 30 days (must respond)
Set up automatic minimum payments Prevents future missed payments Immediate

Medium-Term Improvements (3-12 Months)

Action Expected Impact Timeline
Make all payments on time for 6 months +30 to +60 points 6 months
Pay down revolving debt consistently +20 to +50 points 3-12 months
Get a secured credit card (if rebuilding) +30 to +60 points 6-12 months
Limit hard credit inquiries Reduces negative impact Inquiries fade in 3 years

Long-Term Strategies (1+ Years)

Action Expected Impact Timeline
Keep old accounts open Maintains history length Ongoing
Maintain low utilization consistently Sustained improvement Ongoing
Diversify credit types +10 to +20 points 1-2 years
Let negative items age off Significant improvement 6-7 years

Negative Marks and How Long They Last

Item Duration on Report
Late payments 6 years from date of missed payment
Collections 6 years from date of last activity
Consumer proposal 3 years after completion
Bankruptcy (first) 6 years after discharge
Bankruptcy (second) 14 years after discharge
Hard inquiry 3 years (impacts score for ~1 year)
Judgments 6 years

Equifax vs TransUnion

Feature Equifax TransUnion
Score range 300 – 900 300 – 900
Free access Borrowell; mail request Credit Karma; mail request
Report format Different layout Different layout
Data sources Slightly different Slightly different
Score may differ Often 10-40 points different Often 10-40 points different

Your scores may differ between bureaus because not all creditors report to both. Check both regularly.

Canadian Credit Score vs US Credit Score

Feature Canada United States
Score range 300 – 900 300 – 850 (FICO)
Bureaus Equifax, TransUnion Equifax, TransUnion, Experian
Free access right Yes (by mail, or via free apps) Yes (annualcreditreport.com)
Negative items duration 6 years (most) 7 years (most)
Bankruptcy duration 6 years (first) 7-10 years
Hard inquiry duration 3 years 2 years
SIN/SSN needed SIN not on report but used to pull SSN used extensively

Key Takeaways

  1. Canadian credit scores range from 300 to 900 — aim for 720+ for the best rates
  2. The national average is ~680 — “good” but room for improvement
  3. Payment history (35%) and utilization (30%) are the two biggest factors
  4. Check free at Borrowell (Equifax) and Credit Karma (TransUnion) — no score impact
  5. Keep credit utilization under 30% — ideally under 10%
  6. Poor credit on a $400K mortgage can cost $67,000+ extra in interest
  7. Negative items last 6 years — but their impact fades over time
  8. Never miss a payment — a single 30-day late can drop your score 60-110 points
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