Debt Options Guide
How to Improve Your Credit Score in Canada
Updated
Canadian credit scores from Equifax and TransUnion run from 300 to 900. Scores in roughly the high 600s and above are generally treated as good by lenders. The biggest levers are paying every bill on time, keeping card balances well below their limits, and leaving older accounts open.
What is a good credit score in Canada?
There is no single official cut-off — each lender sets its own. As a broad guide, scores around 660 and up are commonly treated as good, 725+ as very good, and 760+ as excellent. Below about 600, approvals get harder and interest rates higher.
Steps that raise your score
- Pay at least the minimum on every account by the due date — set up automatic payments
- Keep balances under about 30% of each card's limit, lower is better
- Don't close your oldest card; account age helps
- Limit new credit applications — each hard inquiry can dip your score
- Check both reports for errors and dispute them directly with the bureau
- Use a secured credit card if you're rebuilding
Rebuilding after a consumer proposal or bankruptcy
Get a secured card soon after you finish, use it lightly and pay it in full every month. Check that debts included in your proposal or bankruptcy show as included and with a zero balance on both reports.
Free tools
Related guides
- How Long Debt Stays on Your Credit Report in CanadaHow long collections, consumer proposals, bankruptcies and late payments stay on Equifax and TransUnion credit reports in Canada, and how to check yours for free.
- How to Pay Off Credit Card Debt in CanadaPractical ways to pay off credit card debt in Canada: snowball vs avalanche, balance transfers, consolidation, credit counselling and when to consider a consumer proposal.
- Consumer Proposal in Canada: How It WorksHow a consumer proposal works in Canada: who qualifies, the $250,000 limit, the 5-year maximum, the creditor vote, credit impact and what it costs.
Sources
DebtDefender is an independent information site, not a Licensed Insolvency Trustee or law firm. This guide is general information, not advice for your situation. See our disclaimer.