Your credit score is a three-digit number that tells lenders how likely you are to repay what you borrow. In Canada, scores from the two national credit bureaus, Equifax and TransUnion, run from 300 to 900. The higher your number, the easier it usually is to get approved for a credit card, car loan or mortgage, and the better the rate you’re likely to be offered.
So what counts as “good”? This guide explains the ranges, what lenders actually look at, and the habits that move your score in the right direction.
Credit score ranges in Canada
Canadian credit score ranges (300 to 900)
A score in the high 600s or above is generally considered good, and most mainstream lenders are comfortable in that territory. Once you’re above roughly 760, you’re in the top tier and will typically qualify for the best rates and premium cards. Below about 600, approvals get harder and the products you’re offered tend to cost more.
What lenders see at each level
How a score can affect your options
| Score range | What it usually means |
|---|---|
| 760 to 900 | Best rates, premium cards and easy approvals at most lenders |
| 725 to 759 | Strong approval odds and competitive rates |
| 660 to 724 | Approved for most mainstream products; rates may be a little higher |
| 560 to 659 | Some approvals, often with lower limits or higher rates; alternative lenders more likely |
| 300 to 559 | Mainstream approvals are difficult; secured cards and credit-builder tools can help rebuild |
What goes into your credit score
Canadian bureaus don’t publish their exact formulas, but the factors are well known and they’re the same ones behind most scoring models:
What typically moves your score
- Payment history is the biggest piece. Paying at least the minimum on time, every time, matters more than anything else.
- Utilization is how much of your available credit you’re using. Keeping balances well below your limits, ideally under 30%, helps. Here’s how utilization works.
- History length rewards older accounts, so think twice before closing your oldest card.
- New credit covers recent applications. Each “hard” inquiry can dip your score slightly for a while.
- Credit mix gives a small boost for handling different types of credit, like a card and an instalment loan.
How to raise your credit score
Five habits that build a strong score
Pay on time, every time
Set up automatic payments for at least the minimum so a busy month never turns into a missed payment.
Keep balances low
Aim to use less than 30% of each limit, and less than 10% if you’re chasing an excellent score.
Check your reports for errors
Pull your free reports from both bureaus and dispute anything that isn’t yours. Here’s how.
Limit new applications
Space out applications for new credit, especially in the months before a mortgage or car loan.
Let your accounts age
Keep older accounts open and active with a small purchase you pay off in full.
This article is general information, not financial advice. Score ranges vary by bureau and lender. Last reviewed September 2026.