What is considered a good credit score in 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. The credit score range is anywhere between 300 to 900.

What is the Canadian average credit score?

According to Borrowell data from over 2 million users in 2022, the average Canadian credit score is 672. Borrowell members' average credit score in 2021 was 667 and 649 in 2020. A credit score over this average will make it easier to qualify for credit products, so use this as a benchmark for your credit score goals.

What is a bad credit score in Canada?

In Canada, credit scores start at 300 and go as high as 900. A bad credit score is a score of 574 or less and means banks, lenders, landlords, and even some employers will consider you less financially responsible than borrowers with a higher score.

What's a good credit score in 2022?

Credit scores can generally be grouped as follows: 800 and above: excellent. 740 to 799: very good. 670 to 739: good.

What does a credit score of 650 mean in Canada?

According to Equifax, one of the major credit bureaus in Canada, a 650 credit score is classified as fair, on a scale from poor to excellent. This is because having a 650 credit score qualifies you for most financial products but at a higher interest rate than people with a better credit score.