If a lender has ever told you your score is "good" or "needs work," it helps to know exactly where that score sits on the scale. In Canada, consumer credit scores run from 300 to 900, calculated independently by the two national credit bureaus — Equifax and TransUnion. Here's how the scale breaks down and why it matters every time you apply for a loan in 2026.
How the 300–900 Credit Score Scale Works
Both Equifax and TransUnion generate a score in the 300–900 range from the information in your credit file: payment history, amounts owed, credit utilization, length of credit history, types of credit, and recent credit inquiries. Because each bureau only sees the accounts that were reported to it, and each uses its own scoring model, your two scores are rarely identical.
Credit Score Bands in Canada
Lenders set their own cutoffs, but these bands are generally how a score in each range is treated across the Canadian lending market:
- 300–559 — Poor: approval is difficult with mainstream banks; subprime and bad-credit lenders are usually the realistic option.
- 560–659 — Fair: some banks and most online installment lenders will approve you, typically at a higher rate.
- 660–724 — Good: most lenders, including major banks, will approve standard personal loan products.
- 725–759 — Very Good: you qualify for most lenders' better rate tiers.
- 760–900 — Excellent: you qualify for a lender's lowest advertised rates and largest loan amounts.
Why Your Equifax and TransUnion Scores Can Differ
Not every lender reports to both bureaus, and each bureau's scoring model weighs factors slightly differently. It's normal to see a gap of 20–40 points (sometimes more) between the two — which is why it's worth checking both before you apply, rather than assuming one score represents your whole credit profile.
How Lenders Use Your Score Band for Loan Approval
Lenders use your score band, alongside income and existing debt, to decide both whether to approve you and what rate to offer. On CanuckLenders.com, banks such as CIBC and RBC Royal Bank generally serve the good-to-excellent bands with their lowest rates, while lenders in our Bad Credit Loans category — including Fairstone and easyfinancial — are built specifically to approve the fair and poor bands, at a higher APR to offset the added risk. Our Personal Loans category lets you compare offers across every band side by side.
How to Move Up a Band
Moving from "fair" to "good," or "good" to "very good," typically takes consistent on-time payments and lower credit utilization over several months to a couple of years. Our companion guide, How to Improve Your Credit Score in Canada, covers the specific steps in order of impact.
Frequently Asked Questions
What is considered a "good" credit score in Canada?
A score of roughly 660 and up is generally treated as good by most Canadian lenders, though each lender sets its own internal cutoffs.
Does checking my own score lower it?
No. Checking your own score through the bureau or a monitoring service is a "soft" inquiry and does not affect your score. Only formal credit applications ("hard" inquiries) can have a small, temporary impact.
Can I have a good score with one bureau and a poor score with the other?
Yes — this is common when only some of your accounts are reported to both bureaus, or when recent activity (like a new inquiry) has been picked up by one bureau but not yet the other.
Bottom Line
Your score is a band, not a single verdict — and it's one input lenders use alongside income and debt. Know where you sit on the 300–900 scale, then compare lenders that match your band to avoid applying somewhere you're unlikely to be approved.