600 Credit Score Canada: What It Means and How to Rebuild

A 600 credit score in Canada falls in the Fair range (560-659). You're not in the lowest tier, but you're significantly constrained compared to borrowers above 660. Here's the honest picture of what 600 means and the most effective path to improvement.

What a 600 Score Allows in Canada

• CMHC-insured mortgage: Yes, 600 is the CMHC minimum. However, many lenders set their own minimums at 620-650 even for insured products.
• Conventional mortgage: Difficult. Most major banks want 660+; you'd typically need a B lender.
• Car loan: Possible through dealerships and some credit unions at 12-18% APR
• Secured credit card: Easy to get — and essential for rebuilding
• KOHO Credit Building: No credit check required — open to everyone

What Is Blocked at 600

• Best mortgage rates — only available at 760+
• Most premium credit cards
• Conventional mortgages at major banks
• Large unsecured personal loans
• Many competitive rental units in tight markets

The 600 Rebuilding Roadmap

Here is a step-by-step approach for a 600-score Canadian:

1. Stop new damage first: Set autopay on every account. No new missed payments from this point forward. This is the most important step.
2. Get your reports: Pull both Equifax (Borrowell) and TransUnion (Credit Karma) for free. Review every entry. Dispute anything that is inaccurate.
3. Attack utilization: If you have high balances relative to limits, pay them down. Getting from 60% to below 30% utilization can add 30-50 points.
4. Add positive data: If your file is thin or your existing data is all negative, add a positive source. KOHO Credit Building reports monthly to Equifax. A secured credit card used responsibly also adds positive history.
5. Wait strategically: Negative items lose impact over time. At 12 months, most lenders reduce the weight of a late payment significantly. At 24 months, it has minimal impact. At 6-7 years, it falls off entirely.