What is a good credit score in Canada?

Most lenders in Canada consider a credit score of 660 or higher to be good, with 700+ often viewed as a strong score and 760+ considered excellent. That said, there is no single universal cutoff—what counts as “good” can vary by lender, the type of credit you’re applying for, and your overall financial profile.

Quick answer

If you want the simplest benchmark:

660–724: generally good
725–759: very good
760–900: excellent
560–659: often considered fair
300–559: typically poor

In Canada, credit scores usually range from 300 to 900, with higher being better.

How credit scores work in Canada

Your credit score is a number generated from the information in your credit report. Lenders use it to estimate how likely you are to repay borrowed money on time.

Two main credit bureaus track credit in Canada:

Equifax Canada
TransUnion Canada

Although both use similar scoring models, your score may not be exactly the same with each bureau.

What is considered a good credit score in Canada?

A good credit score in Canada is usually 660 or above. But the practical answer depends on what you’re trying to do.

General guideline

660–724: You’ll likely qualify for many standard credit products
700+: Often improves approval odds and may help you get better rates
750+: Strong credit profile for mortgages, loans, and premium credit cards

For specific products

A “good” score may mean different things depending on the lender:

Credit cards: many cards approve applicants around 650–700+
Auto loans: approvals may be possible below 660, but rates may be higher
Mortgages: lenders often prefer 680+, though some programs accept lower scores
Personal loans: stronger scores usually improve approval odds and interest rates

Why a good credit score matters

A better credit score can help you:

Get approved for loans and credit cards more easily
Qualify for lower interest rates
Access higher credit limits
Improve your chances of mortgage approval
Save money over time on borrowing costs

Even a small difference in interest rates can add up significantly on a mortgage or car loan.

What affects your credit score

Your score is based on several factors, including:

Payment history: paying bills on time is the most important factor
Credit utilization: how much of your available credit you use
Length of credit history: older accounts can help
Credit mix: having different types of credit may help
New credit applications: too many hard inquiries in a short time can lower your score
Public records or collections: missed payments, collections, or bankruptcies can hurt your score

Is 650 a good credit score in Canada?

A 650 credit score is borderline fair-to-good in Canada. It may be enough for some approvals, but it’s not usually considered a strong score.

With a score around 650:

You may still qualify for some credit products
Your interest rates may be higher
Lenders may look more closely at your income, debt, and payment history

If possible, aiming for 660+ is a better target.

Is 700 a good credit score in Canada?

Yes. A 700 credit score is generally considered very good in Canada.

With a score around 700, you may:

Have more approval options
Be more likely to get competitive interest rates
Qualify for better credit card offers
Have a stronger application for a mortgage or loan

Is 750 a good credit score in Canada?

Absolutely. A 750 credit score is excellent and puts you in a very strong position with most lenders.

People with scores in this range often have:

Long, positive credit histories
Low credit utilization
Few missed payments
Strong overall borrowing habits

How to improve your credit score in Canada

If your score is below the level you want, here are the most effective ways to improve it:

1. Pay bills on time

Payment history matters a lot. Set reminders or automatic payments to avoid late payments.

2. Keep credit card balances low

Try to use less than 30% of your available credit. Lower is better.

3. Avoid too many credit applications

Each hard inquiry can temporarily lower your score. Apply only when needed.

4. Keep older accounts open

A longer credit history can help your score, especially if the account is in good standing.

5. Check your credit reports for errors

Mistakes happen. Review your Equifax and TransUnion reports and dispute any incorrect information.

6. Use credit responsibly

A small credit card balance paid off regularly is often better for your score than not using credit at all.

7. Deal with collections or overdue accounts

If you have accounts in collections, work toward resolving them as soon as possible.

Common mistakes that can lower your score

Avoid these habits if you want to maintain a good credit score:

Missing payment due dates
Maxing out credit cards
Closing your oldest credit accounts without a reason
Applying for several credit products at once
Ignoring errors on your credit report
Carrying high revolving balances month after month

Good credit score vs. good enough credit score

A score that is “good enough” depends on your goal:

For a basic credit card, 650+ may be enough
For better rates and stronger approval odds, 700+ is better
For premium borrowing terms, 750+ is ideal

So while 660 is often the start of “good,” many Canadians aim for 700 or higher to leave more room for lender requirements.

FAQs

What is the average credit score in Canada?

Average scores can vary over time and by region, but many Canadians fall somewhere in the mid-600s to low-700s. The exact average depends on the data source.

Can I get approved with a credit score under 660?

Yes, in some cases. Approval depends on the lender, your income, debt levels, and credit history. However, your options may be more limited and more expensive.

Does a higher credit score guarantee approval?

No. A strong score helps, but lenders also review your income, employment, debt load, and overall financial situation.

Why is my Equifax score different from my TransUnion score?

The two bureaus may have different data about you, and lenders may report to one bureau but not the other. Small score differences are normal.

Bottom line

A good credit score in Canada is typically 660 or higher, but 700+ is a stronger target if you want better approval odds and lower interest rates. If you’re above 750, you’re generally in excellent shape.

If you’re working to improve your score, focus on the basics: pay on time, keep balances low, limit new applications, and check your credit reports regularly.