Canada’s credit score scale runs from 300 to 900. Unlike the United States (which uses a 300–850 FICO scale), Canadian credit scores have a slightly higher maximum. Understanding where your score falls — and what it means practically for credit approvals and interest rates — is essential for managing your financial life in Canada.
Canadian Credit Score Ranges at a Glance
| Score Range | Rating | Typical Access |
|---|---|---|
| 760–900 | Excellent | Best rates on all credit products; approved for premium cards and mortgages |
| 725–759 | Very Good | Near-best rates; approved for most products including premium cards |
| 660–724 | Good | Approved for most credit products; minor rate premium on some products |
| 560–659 | Fair | Some approvals with conditions; higher interest rates; secured card territory |
| 300–559 | Poor | Limited unsecured credit; secured cards and credit-builder products |
What Your Score Unlocks at Each Tier
760–900: Excellent Credit
At this level, you qualify for the best available rates on virtually every credit product in Canada. Premium credit cards, lowest mortgage rates, and preferred auto financing rates are all accessible.
Credit cards available: All cards with no effective restriction — Visa Infinite Privilege, Amex Platinum, Mastercard World Elite at any income level
Mortgage rate impact: Typically qualifies for the lowest published rate; may negotiate further
Auto financing: Prime rates at dealerships and banks
How to maintain it: Continue paying on time, keep utilisation low, avoid unnecessary new applications.
725–759: Very Good Credit
Excellent access to credit products. Most lenders see this range as near-prime and offer very competitive rates. A small subset of the most restrictive premium products or lenders may prefer 760+, but this is uncommon.
Credit cards available: All standard and premium credit cards
Mortgage rate impact: 0–0.10% premium vs. excellent tier at most lenders
Auto financing: Prime to near-prime rates
How to improve: Continue on-time payments; pay down any balances above 20–25% utilisation; avoid hard inquiries.
660–724: Good Credit
The most common range for working-age Canadians. At this level, you qualify for most credit products, though you may pay a rate premium compared to borrowers in the excellent range.
Credit cards available: Visa Infinite, Mastercard World Elite (subject to income), most standard rewards and cash back cards
Mortgage rate impact: Typically 0.10–0.40% above best available rate
Auto financing: Near-prime to standard financing; some rate premium
How to improve: Focus on consistent on-time payments; aggressively reduce credit card utilisation; do not close old accounts; allow credit history to age.
560–659: Fair Credit
In this range, some lenders will approve credit applications with additional conditions (higher interest rates, lower limits, security deposits). Premium credit cards may be out of reach, but standard cards are accessible.
Credit cards available: Standard Visa/Mastercard cards; secured cards as a rebuilding tool; some student cards
Mortgage: May qualify for insured mortgage at 600+; higher rate; need strong down payment and income documentation
Auto financing: Near-subprime rates; may require larger down payment
Common reasons for this range: Missed payments in the past 1–3 years; high credit utilisation; limited credit history; recent collections
How to improve: See the credit building guide →
300–559: Poor Credit
At this level, most conventional lenders will decline unsecured credit applications. This range typically reflects significant negative events (multiple missed payments, collections, bankruptcy, or consumer proposal).
Credit cards available: Secured credit cards (deposit required — see best secured credit cards →); some credit-union products
Mortgage: Not eligible at most lenders; private lending possible at high rates
Auto financing: Subprime lenders only; high interest rates; significant down payment often required
How to improve: Start with a secured card; pay on time every month; wait for older negative items to age off the report (typically 6 years from the incident date); consider credit counselling through a non-profit credit counselling service.
How Scores Affect Mortgage Costs — A Real Example
On a $500,000 mortgage, 25-year amortisation:
| Credit Score | Approximate Rate | Monthly Payment | Total Interest (25 yr) |
|---|---|---|---|
| 760+ (excellent) | 5.00% (example) | $2,908 | $372,400 |
| 700–759 (very good) | 5.25% | $2,971 | $391,300 |
| 660–699 (good) | 5.50% | $3,035 | $410,500 |
| 600–659 (fair) | 6.00% | $3,166 | $449,800 |
Rates are illustrative only — actual rates depend on lender, term, and market conditions. A 1% rate difference costs approximately $77,400 over 25 years on a $500,000 mortgage.
How Scores Affect Credit Card Approval
| Card Tier | Typical Minimum Score | Notes |
|---|---|---|
| Secured credit card | No minimum | Deposit required |
| Standard unsecured card | ~580–620 | Basic Visa/Mastercard |
| Student credit card | ~600 (limited history OK) | |
| Visa Infinite / Mastercard World Elite | ~660–680 | Income also required |
| Amex Cobalt, Gold Rewards | ~660–700 (Amex flexible) | No stated minimum income |
| Visa Infinite Privilege | ~720+ | Higher income threshold |
| Amex Platinum, Centurion | ~750+ | Income and relationship factors |
Equifax vs TransUnion: Can Scores Differ?
Yes. Your score from Equifax may be different from your TransUnion score because:
- Not all lenders report to both bureaus — some accounts only appear on one report
- Each bureau uses slightly different scoring models and weights
- Information may be updated on different timelines
Check both reports regularly. Free weekly scores are available through Borrowell (Equifax) and Credit Karma Canada (TransUnion).