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What is a good credit score in Canada?

In Canada, credit scores usually run from 300 to 900, and a score of 660 or higher is generally considered good. Here’s what each band means, what lenders actually look at, and the everyday habits that push your number up or down.

6 min read Checked October 2026

Key findings
  • Equifax Canada generally treats 660 to 724 as good, 725 to 759 as very good and 760 and up as excellent.
  • Payment history is the most important part of your score, according to FCAC.
  • FCAC suggests using less than 30% of your total credit limit, even if you pay the balance in full.
  • There’s no single magic number: lenders use different scoring models and set their own cut-offs.

Checked October 2026

Canadian credit score ranges

Your credit score is a 3-digit number calculated from your credit report. It estimates how likely you are to repay what you borrow, and in Canada it usually falls between 300 and 900. Higher is better.

  1. Poor300 to 559
  2. Fair560 to 659
  3. Good660 to 724
  4. Very good725 to 759
  5. Excellent760 to 900
Bands as Equifax Canada publishes them. Lenders set their own cut-offs.
What each band usually means
BandScoreHow lenders tend to see it
Poor300 to 559More likely to have trouble getting credit or better terms
Fair560 to 659Below 660, you may be less likely to qualify for better loan terms
Good660 to 724Generally seen as an acceptable, lower-risk borrower
Very good725 to 759A track record that gives lenders more confidence
Excellent760 to 900The top of the range

Bands and descriptions from Equifax Canada. Each lender decides what a score means for its own products.

Two caveats. First, the score you see in an app may not be the one a lender uses; FCAC notes lenders can weigh information differently. Second, Equifax stresses that your score is only one part of an application. Income, existing debts and the product itself also count.

Where common scores land

  • 600 is in the fair band. It’s also the minimum CMHC sets for the insured mortgages it backs.
  • 700 is good: above the 660 line where lenders generally start to see lower risk.
  • 750 is very good, inside the 725 to 759 band.
  • 800 is excellent. Anything from 760 up sits in the top band.
  • 900 is the highest score possible on the Canadian scale.

What affects your credit score

Equifax, TransUnion and lenders don’t publish their exact formulas, but FCAC lists the factors they have in common:

Payment history

Whether you pay on time. FCAC calls it the most important part of your score. Missed payments and accounts sent to collections hurt the most.

How much you use

Your balances compared with your limits. Owing $4,500 on a $5,000 card looks riskier than owing $1,000, even if you never miss a payment.

Length of history

How long you’ve had credit and how long each account has been open. Older accounts help.

New applications

Each application creates a hard inquiry. Several close together can suggest you urgently need credit.

Credit mix

Using more than 1 type of credit, such as a card, a car loan and a line of credit, shows you can manage different products.

Serious events

Collections, insolvency and bankruptcy weigh on a score for years. Bankruptcy usually stays 6 years after discharge.

How to raise your score

  1. Never miss a paymentPay at least the minimum on time, every time. Set up payment-due alerts, and call the lender early if you’ll have trouble. FCAC says not to skip a payment even when you’re disputing a charge.
  2. Keep balances under 30%Using $1,000 of a $5,000 limit is a 20% utilization rate. Pay down balances before the statement date if you charge a lot, since a high balance can count against you even when you pay in full.
  3. Keep old accounts openClosing an older card shortens your history and cuts your available credit. If it has no annual fee and you can use it now and then, keeping it open usually helps.
  4. Apply only when you need toSpace out applications. When you shop for a car loan or mortgage, get your quotes within 2 weeks so the bureaus count them as 1 inquiry.
  5. Fix errorsCheck both bureau reports and dispute anything wrong. Our guide on how to read a credit report walks through it.
  6. Start small if you’re newNo history yet? A secured or starter card used lightly and paid in full builds a record. Compare cards for building credit.

Why your score dropped

Scores move as lenders send updates, which happens at least once a month. If yours fell, one of these is the usual cause:

  • A higher balance than usual, which raises your utilization even if you’ll pay it off
  • A late or missed payment, including on a phone or utility account that reports to the bureaus
  • A new hard inquiry from a credit application
  • Closing an older account, which lowers your average account age and available credit
  • An error or an account opened by someone else, which is why it’s worth checking your report

What score do you need?

There isn’t one answer. Equifax says there’s no magic number for better rates, because every lender and product sets its own rules. A few reference points:

  • Mortgages: CMHC requires a minimum score of 600 for the mortgages it insures. Lenders set their own rules for uninsured mortgages, and a stronger score usually means a better rate.
  • Credit cards: premium cards usually ask for a stronger score than secured or no-fee starter cards. Our credit card matcher filters cards by the score you have.
  • Lines of credit and loans: FCAC says a higher score usually means a lower interest rate.

Frequently Asked Questions

What is a good credit score in Canada?

A score of 660 or higher is generally considered good in Canada. Equifax describes 660 to 724 as good, 725 to 759 as very good and 760 and up as excellent.

What is the highest credit score in Canada?

900. Canadian credit scores usually range from 300 to 900, and anything from 760 up falls in the excellent band.

Is 750 a good credit score?

Yes. A 750 sits in the very good band, which runs from 725 to 759. You’d need 760 or higher to reach excellent.

Is 800 a good credit score?

An 800 is excellent. It’s comfortably inside the top band, which starts at 760.

What is a bad credit score in Canada?

Equifax describes scores below 560 as poor. Scores below 660 may make it harder to qualify for better loan terms.

What credit score do you need for a mortgage?

CMHC sets a minimum score of 600 for the mortgages it insures. For uninsured mortgages each lender sets its own rules, and a higher score usually means a better rate.

Why did my credit score drop?

Common causes are a higher balance than usual, a missed payment, a new hard inquiry, closing an older account, or an error or fraud on your report. Check both bureau reports to see what changed.

How often does my credit score update?

Equifax and TransUnion update your score at least once a month as lenders report new balances and payments.

Does checking my credit score lower it?

No. Checking your own score or report is a soft inquiry and doesn’t affect your score.

How can I raise my credit score quickly?

There’s no instant fix, but the fastest levers are paying every bill on time, bringing balances under 30% of your limits and disputing errors. Lower balances show up once lenders send their next monthly update.

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Sources, checked October 2026

General information for Canadians, not financial, tax or legal advice. Rules and menus change, so confirm details with your bank, lender or the Government of Canada. See our methodology.