Credit score
A numeric score representing creditworthiness, built from your borrowing and repayment history.
Last reviewed May 20, 2026
Reviewed for accuracy and clarity by Sandeep Singh before publication. Learn about our editorial process.
What it means
A credit score is a numeric representation of creditworthiness, calculated from your borrowing and repayment history — things like on-time payments, total debt, and length of credit history. In Canada, scores typically range from 300 to 900.
Why it matters
It affects approval odds and interest rates on nearly everything borrowed — mortgages, car loans, even some rental applications — and newcomers often start with no Canadian credit history at all.
Common misunderstandings
- Credit history doesn't transfer from other countries — most newcomers start building Canadian credit from zero, regardless of history elsewhere.
- Checking your own credit score doesn't lower it — that's a common myth confusing "soft" and "hard" credit checks.
Where you'll see it
On every major loan or credit application, and a common early focus for newcomers to Canada.
Related terms
New to Canada and want a plain-language walkthrough?
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