What is a Good Credit Score in Canada?

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Good credit means you have a lower risk for lenders.
Good credit means you have a lower risk for lenders. (Image: Feng Yu/Hemera/Getty Images)

Your credit score is a way for banks and other lenders to judge your likelihood of making good on a loan. Canadian credit scores typically range between 400 and 900. Those with a higher credit score tend to be looked upon more favorably by lenders than those with lower scores. Understanding what constitutes a good credit score helps you get a sense of how lenders view your credit profile.

What is Good?

According to The Globe and Mail, a Canadian newspaper, a credit score of 600 or more is considered good in Canada, while a score of 750 and above is excellent. Citing data from Equifax Canada, the website of the Financial Consumer Agency of Canada -- a government agency that educates Canadians about financial services -- notes that a credit score of 660 to 724 is good. A "very good" score is 725 to 759, while an excellent score is anything above this range.

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