A credit score is a three-digit number, usually between 300 and 900, that lenders use to judge how likely you are to repay. Canada has two credit bureaus, Equifax and TransUnion, and each keeps its own credit report on you and calculates its own score from it. These guides explain how credit scores in Canada work, how to see yours for free, what raises and lowers it, and how to build or rebuild credit. How credit cards themselves work is covered in our credit card basics guides.
How scores work
- How credit scores are calculated: the factors and what each rewards
- Credit score ranges: what counts as good, very good and excellent
- Equifax vs TransUnion: how the two bureaus and their scores differ
- Credit score vs credit report
Your credit report
- How to check your credit score and report for free
- How to read your credit report: each section and the rating codes
- How to dispute a credit report error
- Soft vs hard credit checks and how long a hard inquiry stays
What moves a score
- Credit utilization: how much of your limit you use, and when it’s reported
- What hurts your credit score
- Why did my credit score drop?
- Why did my credit limit decrease?
- How to improve your credit score
- Does closing a credit card hurt your credit score?
- Being an authorized user
Building and rebuilding credit
- How to build credit from scratch
- Credit-builder loans: how they work and what they cost
- How to rebuild credit after bankruptcy, a proposal or late payments
- How long bankruptcy and consumer proposals stay on your report
Newcomers have their own route through bank newcomer programs: see credit cards for newcomers. Secured cards are compared in our secured credit card picks.
The score you need
- What credit score you need for a car loan
- Does a car loan help build credit?
- For a mortgage, see the credit score needed for a mortgage.
The published averages, by age group and city, are covered in the average credit score in Canada.