Internationally trained and looking to get back in your field? We can help! Register Now

Understanding Credit Score Ranges

Posted by: Sana Arshad Date: September 27, 2019 Category: Blog

In my last blog post, I discussed the basics of credit scores, so today we are going to take it one step further and do a break down of each credit score range. The average credit score for most Canadians is around 650.

The range in Canada for scores is between 300-900, with higher numbers being more favorable.


300-559 Very Poor

If your score is in this range, you may not be approved for credit at all, or would be required to pay exorbitant fees and high interest rates.

560-659 Poor

Similar to the very poor range, if you fall in this category, you will not be the ideal candidates for loans, and you will have very few good options for borrowing.

660-724 Good

Finally you will start getting better interest rates, but try to build your score from here. Keep going!

725-759 Very Good

You will get better than average interest rates, and will get easily approved.

760+ Excellent

If your score falls in this range, you are the ideal candidate for loan approval of any kind. You will get the best rates, saving you lots of money in the long-term.

Do not lose hope even if you are on the lower end of the spectrum, as there are lots of ways that you can improve your credit score range. Some of these ways include paying off debt, saving most of what you are earning, and being careful about your spending. Talk to one of our counsellors today to find out more about how you can improve your rating.

For more exclusive content like this, sign up today for Career Loans  

Career Loans provides micro loans and free career and financial counselling for professionals, who have received education or training for their regulated occupations outside of Canada, so they can return to their chosen profession.

PrepCan-Online Newcomer Information Centre is coordinated and funded by:

Centre for Education & Training Mississauga logo Immigration, Refugees and Citizenship Canada logo

careerloans logo

Career Loans provides career counselling and micro loans to Internationally Trained Individuals in regulated and non-regulated occupations and trades, who are looking to return to their chosen profession.

Funded By:
Coordinated By:

logo tcet

Financial Partner:

logo HSBC

Privacy Policy  |  Terms of Use

Newsletter Sign up

Latest Video

No Videos found.


News item image

Three Things to Consider Before Returning to Your Career

For many Internationally Trained Individuals (ITIs) in Canada, continuing a career in their trained field is an ideal situation. This is true for …

Read more
News item image

Cross Cultural Competance

.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, …

Read more
News item image

Boost Your Employability from Home: Your Guide to Online Education

Online education, or eLearning, has become increasingly popular with the growth of the internet. Recently, with a large portion of people staying …

Read more
News item image

How to Navigate the Online Job Search

Job seekers today are likely to begin their search in front of their computers as online job searching has become extremely popular. With such a vast …

Read more

PrepCan-Online Newcomer Information Centre is coordinated and funded by:

Centre for Education & Training Mississauga logo Immigration, Refugees and Citizenship Canada logo


All Career Loans virtual services will continue during this time; our hours of operation remain the same at 8:30AM – 4:30PM (MT) from Monday to Friday. Please contact us if you require assistance outside of these hours.