What Is a Good Credit Score in Canada? Ranges & Tips

Your credit score is one of the most important numbers for borrowing in Canada. The average Canadian sits around 660 on a 300–900 scale, but what counts as “good” can shift depending on whether you’re after a mortgage, a car loan, or a premium credit card – this breakdown shows how lenders define good credit, what scores unlock the best deals, and where you can start improving yours today.

Average credit score in Canada: 660 (Equifax range) ·
Good credit score range: 660–724 (TD) ·
Very good credit score range: 725–759 (Scotiabank) ·
Excellent credit score range: 760–900 ·
Maximum possible score: 900 ·
Recommended credit utilization: Less than 30% (Canada.ca)

“A good credit score is usually between 660 to 724.”TD Canada Trust

“Scores between 725 and 759 are likely to be considered very good.”Scotiabank

Here is a breakdown of how credit score ranges are commonly categorized and what they mean for borrowers.

What is the average credit score in Canada?

The Government of Canada (Financial Consumer Agency) explains that credit scores are three-digit numbers drawn from your credit report. In Canada, the most common scale runs from 300 to 900. According to Equifax Canada, the national average sits around 660. That figure hides variation: younger Canadians typically have lower scores, and provincial averages differ. For example, Quebec tends to show a slightly higher distribution than Ontario, though exact figures fluctuate year to year.

National average credit score vs. provincial averages

• National average: 660 (Equifax).
• Provincial averages not publicly broken out by bureaus, but regional economic conditions influence them.
• Residents in provinces with higher median incomes sometimes correlate with higher scores, but no official provincial table exists.

Average credit score by age group

• Canadians under 35 often have scores in the 600–660 range due to shorter credit history.
• Those aged 45–64 tend to have the highest average scores, often above 700.
• Retirees may see a dip if they reduce credit usage, but the effect varies.

The implication: “average” does not mean “good” for every goal. A 22-year-old with a 620 score may be typical but still considered subprime by many lenders.

Is 800 a good credit score in Canada?

Yes. An 800 score falls solidly in the excellent range (760–900) on both the Equifax and TransUnion scales used in Canada. Scotiabank classifies scores above 760 as excellent, and lenders treat 800 as top-tier. That doesn’t guarantee approval for every product, but it unlocks the most competitive rates and terms.

Where 800 falls on the Equifax and TransUnion scales

• Equifax Canada considers 800–850 excellent (its 300–850 model).
• TransUnion and many lenders adopt the 300–900 scale where 800 is well within excellent.

How lenders view an 800 score

• Mortgage lenders typically offer the lowest advertised rates to applicants with scores ≥760.
• Credit card issuers may approve premium cards with high limits.
• Auto lenders may offer 0% financing or reduced APR deals.

The catch: even with an 800 score, income, debt-to-income ratio, and employment history still affect approval decisions.

What can an 800 credit score get you in Canada?

An 800 score opens doors that lower scores keep shut. Here is how it translates into concrete products.

Mortgage eligibility with an 800 score

• Qualifies for the lowest mortgage rates from major banks and brokers.
• May allow a higher loan-to-value ratio or reduced mortgage insurance premiums.
• Negotiation leverage for lender fee waivers.

Auto loan rates for 800+ applicants

• Borrowers with excellent credit (750+) may see new car loan rates of about 3.99% to 6.99%, according to WOWA.ca (consumer finance comparison site).
• Those with a score of 800 typically land at the low end of that range.

Credit card rewards and limits

• Premium travel and cash-back cards with annual fees become accessible.
• Credit limits often start at $5,000 or more.

The trade-off: aggressive credit applications can temporarily lower your score. Apply only for products you genuinely need.

What is the biggest killer of credit scores?

Payment history accounts for roughly 35% of your score, according to Equifax Canada. That makes missed or late payments the single most damaging behavior. Here are the main culprits.

Payment history: the most influential factor

• A single 30-day late payment can drop a score by 50–100 points.
• Bankruptcies, collections, and accounts sent to collections cause severe, long-lasting damage.

High credit utilization

• The Government of Canada (Financial Consumer Agency) recommends using less than 30% of available credit.
• Maxing out credit cards signals risk and lowers scores quickly.

Other detrimental behaviors

• Applying for multiple credit products in a short period generates hard inquiries.
• Closing old credit cards shortens your credit history and increases utilization ratio.

What this means: one late payment can erase months of careful management. Automating at least the minimum payment protects your score.

What credit score is needed for a $30,000 car?

For a $30,000 car loan, a score of 660 or higher generally qualifies for prime financing, according to RBC Royal Bank. Below 660, you enter subprime territory where interest rates climb sharply.

Minimum score thresholds for prime auto loans

• 660+: prime rates (typically 4%–7% for new cars).
• 600–659: near-prime or subprime, rates 7%–12%.
• Below 600: may require a co-signer or face rates above 12%.

Subprime options for lower scores

• Some dealerships accept scores as low as 550–600, per RBC, but with significantly higher APRs.
• Rates for poor credit (300–559) can reach 10.99% to 29.99%, based on WOWA.ca data.

How to improve your chances

• Save a larger down payment (20% or more).
• Pay down existing credit card balances before applying.
• Consider a co-signer with good credit.

The pattern: a $30,000 car loan over 60 months at 4% costs about $3,000 in interest. At 12%, that jumps to nearly $10,000. The score difference is everything.

Is a 900 credit score possible in Canada?

Technically yes — the 300–900 scale tops out at 900. But fewer than 1% of Canadians have a perfect score, according to industry estimates (exact figures are not published by bureaus).

Why 900 is extremely rare

• Requires decades of flawless payment history.
• Low utilization (under 10%) and a mix of credit types over many years.
• No bankruptcies, collections, or missed payments ever.

What it takes to reach a perfect score

• 15+ years of credit history without a single late payment.
• At least one revolving account (credit card) and one installment loan (car, mortgage).
• Regular use of credit without ever exceeding 10% utilization.

Myths about 900 scores

• You do not need a 900 score to get the best rates — most lenders treat 760+ as excellent.
• Chasing a perfect score can backfire if you open unnecessary accounts.

Why this matters: aiming for 760–800 is more practical than obsessing over 900. The extra points don’t unlock any additional benefit.

How to improve your credit score in Canada

Improving your score does not require complicated tricks. Consistent habits work best.

1. Pay all bills on time — even one late payment can hurt. Set up automatic minimum payments.
2. Keep credit utilization under 30% — if you have a $5,000 limit, try to carry no more than $1,500 at month-end.
3. Check your credit report annually — free from Equifax and TransUnion via the Government of Canada. Dispute errors.
4. Avoid opening many new accounts at once — each hard inquiry drops your score a few points temporarily.
5. Maintain older credit cards — length of credit history counts for 15% of your score.
6. Diversify credit types — a mix of a credit card and a loan helps your credit mix (10% of score).

The payoff: a 50-point improvement can move you from fair to good, saving hundreds annually in interest.

For a deeper look at what lenders consider excellent versus poor, check out this comprehensive breakdown of Canadian credit score ranges that also covers provincial averages and industry-specific thresholds.

Frequently asked questions