Scores range 300-900. Here's everything Canadians need to know about credit scores, bureaus, and how to improve yours.
300-559 Poor
560-659 Fair
660-724 Good
725-759 Very Good
760-900 Excellent
Your credit score is a three-digit number between 300 and 900 that tells Canadian lenders how reliably you repay debt. It touches almost every major financial decision in your life — mortgages, car loans, credit cards, apartment rentals. Understanding how it works is the first step to taking control of your financial future.
Score Range
Rating
What It Means
760-900
Excellent
Best rates, instant approvals, maximum negotiating power
725-759
Very Good
Near-prime rates, most products available
660-724
Good
Approved for most mainstream products at standard rates
560-659
Fair
Limited options, higher interest, may need co-signer
300-559
Poor
Subprime or denial; focus on rebuilding
The Two Credit Bureaus in Canada
Canada has two major credit bureaus: Equifax Canada and TransUnion Canada. Both are separate legal entities from their US counterparts. Not every lender reports to both bureaus, so your score may differ by 20-50 points between the two. Always check both.
Equifax Canada — free monthly report via Borrowell
TransUnion Canada — free weekly report via Credit Karma
Your bank app — TD, RBC, Scotiabank, BMO, CIBC all show your score in-app for free
What Makes Up Your Canadian Credit Score
Payment History (35%) — On-time payments build; missed payments destroy. One 90-day miss can drop your score 100+ points.
Credit Utilization (30%) — Keep revolving balances under 30% of your limit. Under 10% is ideal.
Length of Credit History (15%) — Older accounts help. Never close your oldest credit card.
Credit Mix (10%) — Having both revolving (cards) and installment (loans) credit is beneficial.
New Credit Inquiries (10%) — Hard inquiries stay on your Canadian file for 3 years (vs. 2 years in the US).
Key Canadian Credit Rules That Differ from the US
Hard inquiries stay on your report for 3 years in Canada
Negative items (late payments, collections) can remain for 6-7 years
First bankruptcy stays for 6 years after discharge; second for 14 years
Scores range 300-900 in Canada, not 300-850 like in the US
Consumer proposals stay 3 years after completion, up to 6 years from filing date
Score Tier Calculator
Enter your current score to see your tier and what it means for Canadian borrowing.
Tier:
How to Check Your Canadian Credit Score for Free
Never pay for your credit score. The best free options in Canada are:
Borrowell — Free Equifax score updated weekly, plus full credit report
Bank apps — All major Canadian banks now include your score in their mobile apps
Annual free report — Request a free paper report from Equifax and TransUnion directly once per year
Fastest Ways to Improve Your Score
Pay every bill on time — set autopay for at least the minimum on every account
Reduce credit card balances — get utilization under 30% on all cards combined
Don't close old accounts — even unused cards keep your average credit age up
Dispute errors — check both Equifax and TransUnion reports for mistakes and dispute anything inaccurate
Add positive data with KOHO — KOHO's Credit Building reports to Equifax every month, adding payment history even with no traditional credit
Pro Tip: Checking your own credit score is a soft inquiry — it never hurts your score, no matter how often you check.
How Long Negative Items Stay on Your Canadian Credit Report
Item
Duration
Late payments (30-90 days)
6-7 years
Collections
6-7 years
Hard inquiries
3 years
Bankruptcy (1st)
6 years after discharge
Bankruptcy (2nd)
14 years
Consumer proposal
3 years after completion (max 6 from filing)
Court judgments
6-7 years
Frequently Asked Questions
What is a good credit score in Canada in 2026?
660 or above is considered good. 725+ is very good, and 760+ is excellent. Most major bank mortgages require at least 660, and the best rates go to 760+ borrowers.
Does checking my own credit score hurt it?
No. Checking your own score is always a soft inquiry and has zero impact on your credit.
How long does it take to build credit from scratch?
With consistent positive activity, most people see meaningful improvement within 6-12 months. Reaching 660+ typically takes 1-2 years of responsible credit use.
Is 700 a good credit score in Canada?
Yes — 700 falls solidly in the Good range (660-724). You'll be approved for most mainstream credit products, though the very best mortgage rates are reserved for 760+.
📈 Build Credit While You Spend
KOHO's Credit Building feature reports your monthly payment to Equifax — helping you build a Canadian credit history without a credit card. Starting at $7/month or free with KOHO Extra.