What is the average credit score in Canada?

_{average credit score in canada, average credit score in Canada, British Columbia}

In Canada, credit scores vary due to different scoring models and sample sizes. FICO reported a solid average of 760 in 2024, while Borrowell found it to be 672 in 2022. Another source in December 2024 placed it at 680, within the ‘good’ range. Credit score differences are like comparing apples and oranges. Have questions? Reach out via phone, text, or live chat for more info!

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_{Canada’s credit score average varies from 672 to 760.}

Average Credit Score In Canada Question

what is the average credit score in canada I recently checked my credit score but have no idea if it’s good or bad. I want to know what the average score is for Canadians so I can see how I compare.

From: Anonymous Question
Location: Surrey, British Columbia (BC)
Category: credit rebuilding

Average Credit Score In Canada Answer

In Canada, credit scores can be a bit of a mixed bag depending on who you ask. FICO’s figures from November 2024 say the average score is a solid 760, while Borrowell had it lower at 672 in 2022. Then, bringing us up to speed, another source pegged it at 680 in December 2024, neatly sitting in that ‘good’ range. Why the differences? Well, it’s like comparing apples and oranges—different scoring models and sample sizes play a big part in these varying numbers. To better understand how various factors, including consumer proposals and bankruptcies, influence credit scores, you might want to learn about credit score agencies.

From: Insider Scott

Office of the Superintendent of Bankruptcy (OSB) Answer

The average credit score in Canada is around 650 to 700, which is considered fair to good. To gauge your credit score accurately, it may be beneficial to consult additional financial resources or credit reporting agencies.

From: OSB Helper

Related Questions to Average Credit Score In Canada

Here are the top 5 most frequently asked questions related to the average credit score, tailored for the Canadian context:

1. What is the average credit score?

The average credit score in Canada is 760, according to FICO data as of November 2024[1][3][5].

2. How does my credit score compare to the average?

If your credit score is above 760, it is above average; scores between 713 and 740 are considered good or very good, and scores below 660 are considered fair or poor[1][3][5].

3. What factors affect my credit score?

Your credit score is affected by factors such as credit history, credit utilization ratios, missed payments, outstanding debts, and the types of credit you use[1][5].

4. How does age impact my credit score?

Older individuals tend to have higher credit scores, with seniors (65+) averaging around 750, while younger adults (18-25) average around 692[1][3].

5. Do credit scores vary by province?

Yes, credit scores vary by province, with British Columbia having some of the highest average scores (e.g., Vancouver at 705) and provinces like Alberta and New Brunswick having lower average scores (e.g., Calgary at 667 and New Brunswick at 649)[1][3][5].

If you have a question about debt see our debt questions or ask your own debt related question.

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