Do you know what your credit score currently is? Your credit score is an important number that can affect your ability to access future credit products, rentals, and jobs. Whether you have good or bad credit, have you ever wondered how your credit score compares to others in Canada?
While data on the average credit score in Canada is fairly limited, here’s what we know — and how scores stack up depending on where your score falls on the range.
Key Points
1. The average Canadian credit score is 679 (Borrowell, 2026), while FICO puts the average FICO® Score at 760.
2. Average scores vary by city — Quebec City leads at 723, while Edmonton sits lowest among major cities at 646.
3. Age plays a role: older Canadians tend to have higher scores than younger adults.
What Is The Average Credit Score In Canada?
According to a study by Borrowell, the average Canadian credit score is 679, based on 2026 data from more than 4 million Borrowell members1.
According to the Fair Isaac Corporation (FICO), the average FICO® Score in Canada is 760 as of late 2024 — down 2 points from its 762 peak2.
What Is A FICO Score?
FICO Scores are credit scores calculated using the credit scoring tool called the FICO® Score. It’s one of several scoring models used in Canada, which is part of why different sources report different “average” scores.
Why Are The Average Credit Scores In Canada So Different?
In Canada, one person may have multiple different credit scores, which vary based on the credit scoring model used and the information available at each credit bureau. That’s also why a Borrowell (Equifax-based) average and a FICO average don’t match — they measure your credit using different models. Here’s more on why you have more than one credit score.
How Has The Average Credit Score In Canada Changed?
According to FICO, the average FICO® Score climbed from 753 in 2020 to a peak of 762 in 2022–2023, before slipping 2 points to 760 by late 20242. FICO attributes the recent dip to the high cost of living, a wave of mortgage renewals at higher rates (roughly 2.2 million expected to reset in 2024–2025), and rising delinquencies across consumer credit.
| Year | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Average FICO® Score | 753 | 761 | 762 | 762 | 760 |
Source: FICO. Vertical axis starts at 745 to show the change.
What Counts As A High Credit Score In Canada?
In Canada, credit scores range from 300 to 900. The closer your credit score is to 900, the better, as you’ll appear less risky to lenders and creditors. However, what’s considered good or bad varies by lender. According to Equifax, credit scores above 660 are considered “good” to excellent3:
- Excellent credit: scores of 760+
- Very good credit: scores between 725–759
- Good credit: scores between 660–724
- Fair credit: scores between 560–659
- Poor credit: scores between 300–559
According to FICO’s Score 10 distribution data (April 2024), here’s how Canadians are spread across the score bands2:
- 4.5% have a score of 300–549
- 10.4% have a score of 550–649
- 25.4% have a score of 650–749
- 18.6% have a score of 750–799
- 41.1% have a score of 800–900
That means roughly 85% of Canadians have a score of 650 or higher, while only about 4.5% sit in the lowest (300–549) range.
550–649: 10.4%
650–749: 25.4%
750–799: 18.6%
800–900: 41.1%
Source: FICO Score 10 distribution, April 2024. About 85% of Canadians score 650 or higher.
For more on where the cutoffs sit, here’s what makes a credit score good.
What Your Credit Score Gets You In Canada
Your score doesn’t just describe your credit — it shapes what you can borrow and what you’ll pay for it. Here’s a general guide to what each range typically means when you apply for credit in Canada:
| Score Range | What It Typically Means For Borrowing |
|---|---|
| 760–900 (Excellent) | The best interest rates, highest limits, premium cards, and the easiest approvals. |
| 725–759 (Very good) | Strong rates and limits across nearly all products. |
| 660–724 (Good) | Approved for most mainstream credit; lenders generally want 680+ for the best mortgage rates. |
| 560–659 (Fair) | Approvals are more likely through alternative lenders, at higher rates and lower limits. |
| 300–559 (Poor) | Mainstream approval is difficult; secured cards and alternative lenders are the usual starting point. |
Keep in mind your score is only one factor — lenders also weigh your income, existing debts, and employment before approving you.
Average Credit Scores In Canada By City
Average credit scores vary from city to city, albeit by a small margin. Based on Borrowell’s 2026 study of Canada’s most populous cities, here’s how the country’s average credit scores map out1:
Source: Borrowell, 2026. Horizontal axis starts at 600 to show variation between cities.
Of the cities measured, Quebec City had the highest average credit score at 723, followed closely by Montreal (716) and Markham (714). At the other end, Edmonton had the lowest at 646. Notably, Quebec cities dominate the top of the list, while the Prairie and Alberta cities tend to sit lower.
Estimated Average Credit Score By Province
Credit bureaus don’t publish official average credit scores by province, so any “average by province” figure you see online is an estimate. Using Borrowell’s 2026 city data, we can approximate a provincial picture by averaging the major cities measured in each province. Treat these as rough benchmarks, not official figures — some provinces are represented by only one city, and the territories and most Atlantic provinces weren’t part of the dataset.
| Province | Estimated Average Score | Major Cities Measured |
|---|---|---|
| Quebec | ~707 | Quebec City, Montreal, Laval, Gatineau |
| Ontario | ~685 | Markham, Vaughan, Ottawa, Toronto, Mississauga, Kitchener, London, Brampton, Hamilton |
| British Columbia | ~684 | Vancouver, Surrey |
| Nova Scotia | ~669 | Halifax |
| Saskatchewan | ~659 | Saskatoon |
| Alberta | ~659 | Calgary, Edmonton |
| Manitoba | ~657 | Winnipeg |
On this basis, Quebec and Ontario lead, while the Prairie provinces sit a little lower — broadly in line with the city-level pattern above.
What Can Affect Your Credit Scores In Canada?
There are different scoring models used to calculate credit scores in Canada. That said, the following factors are used in most scoring models to determine your credit score:
- Payment history – Your payment history, including on-time and missed payments, makes up roughly 35% of your credit scores. If you have missed payments on record, scoring models may also look at how late they were, how much you owed, and how often you missed payments.
- Credit utilization ratio – The amount of revolving credit you use versus how much you have available is another common factor. Most lenders like to see a debt-to-credit ratio of 30% or below.
- Credit history – Credit history typically accounts for around 15% of your credit scores. The longer you’ve had your accounts open, the more positively it may affect your credit.
- New inquiries – Every time a potential lender or creditor pulls your credit, your scores may drop a few points. Too many pulls in a short period can have a more severe impact. This factor usually contributes roughly 10% of your score.
- Public records – Bankruptcies, liens, debts in collections, or other derogatory remarks can also affect your score. About 10% of your score calculation is based on public records.
Does Age Impact Your Credit Score In Canada?
Age seems to make a difference in average credit scores. According to Borrowell’s study, it puts Gen Z (18-28) at 659, Millennials (29-44) at 673, Gen X (45-60) at 676, Baby Boomers (61-79)at 718 and the Silent Generation (80+) at 769.
There are a few reasons why older adults tend to have higher credit scores:
- They’ve had more time to build credit history. Since credit age accounts for about 15% of your score, a 65-year-old will have decades of history compared to a 25-year-old just starting out.
- They’ve developed better financial habits. Generally, older adults tend to have stronger payment behaviours.
- They earn a higher income. More time to establish a career often means a better ability to manage and pay down debt.
Does Your Income Affect Your Credit Score?
Your income is not a direct factor in your credit score — the credit bureaus don’t even know your salary. That said, income has an indirect effect. A higher income can make it easier to keep balances low and pay every bill on time, which are exactly the behaviours that build a strong score. It’s part of why higher-income Canadians tend to have higher average scores, even though the score itself doesn’t reward income. The takeaway: what moves your score is how you manage credit, not how much you earn.
How Debt Can Affect Credit Scores In Canada
Debt can play a role in the health of your credit score, especially if you’re unable to make bill payments on time. Debt also affects your score through credit utilization: spending over 30% of your available revolving credit can hurt your score, while keeping utilization under 30% can help.
Given this, it makes sense that the average debt level in each province could also affect the average credit score there. Below is the average individual consumer debt load (non-mortgage) by province for Q1 2024, compared with 20193:
2019
Source: Equifax, Q1 2024 (compared with 2019).
| Province | Average Non-Mortgage Debt (Q1 2024) | Average Non-Mortgage Debt (2019) |
|---|---|---|
| British Columbia | $21,902 | $24,854 |
| Alberta | $24,157 | $29,117 |
| Saskatchewan | $22,558 | $24,853 |
| Manitoba | $17,527 | $18,815 |
| Ontario | $21,869 | $24,032 |
| Quebec | $18,562 | $19,410 |
| New Brunswick | $20,900 | $23,467 |
| Nova Scotia | $20,751 | $22,546 |
| Prince Edward Island | $22,774 | $23,043 |
| Newfoundland | $23,812 | $23,778 |
Among all provinces, Alberta carries the most non-mortgage consumer debt, while Manitoba residents carry the least. Interestingly, every province except Newfoundland showed a decrease over the five-year period.
Note: The Latest National Picture (2026)
Equifax’s Q1 2026 data shows the average non-mortgage debt at $22,278 — and notably, non-mortgage debt edged down for the first time in several quarters as Canadians leaned on financial discipline, with more consumers paying their balances in full.4 At the same time, consumer insolvencies rose 18.8% year-over-year to their highest level since 2009, a reminder that averages hide real strain for some households.4
How To Improve Your Credit Score
No matter where your score sits today, you can move it up. The biggest levers are paying every bill on time, keeping your credit utilization below 30%, avoiding too many new applications at once, and letting your accounts age. If your score is in the fair or poor range, a secured credit card or credit-builder product is one of the fastest ways to start. Here’s a complete guide to improving your credit score.
Do You Know What Your Credit Score Is?
All Canadians should check their credit (scores and reports) at least once a year — not only to know where their credit stands, but to avoid becoming a victim of identity theft. You can use any of the following to check your credit score for free:
| Cost | Credit Score | Credit Report | ||
 | Free | Yes | Yes | Visit Site |
 | Free | Yes | Yes | Visit Site |
 | Free | Yes | Yes | - |
Keep in mind that when you check your credit with a third-party provider or directly from a credit bureau, you’re only getting one of your credit scores. In general, you’ll have more than one score, because there are different credit scoring models.
Final Thoughts
Regularly monitoring your credit score is important for understanding your creditworthiness and the financial products available to you. If you’re curious how your credit stacks up to Canadians in other provinces and cities, the data above is a useful benchmark — but remember it’s only an average. Wherever your score sits, having strong credit opens doors, so if yours is a little low, take steps today to improve it.
Frequently Asked Questions
How often should you check your credit score?
Can I get my credit score for free with TransUnion?
What’s the difference between a credit report and a credit score?
Will checking my credit report hurt my credit score?
References
- Borrowell. (2026). What is the average Canadian credit score? https://borrowell.com/blog/highest-canadian-credit-score-study
- FICO. (2024). Average FICO® Score in Canada drops two points to 760. https://www.fico.com/blogs/average-fico-score-canada-drops-two-points-760
- Equifax Canada. (n.d.). Credit score ranges / what is a good credit score. https://www.consumer.equifax.ca/personal/education/credit-score/
- Equifax Canada. (2026). The Resilient North: Equifax Canada data shows consumers leaning on financial discipline. https://www.equifax.ca/about-equifax/newsroom/-/intlpress/the-resilient-north-equifax-canada-data-shows-consumers-leaning-on-financial-discipline-to-offset-macroeconomic-conditions/
