One lender may consider credit scores of 760 to be excellent, while another may consider scores above 780 to be excellent. You can also pay Equifax or TransUnion to see your real score, range, and report.Ĭanadian Credit Scores And What They MeanĪs we mentioned above, there is no definitive model for what certain credit scores mean to all lenders and creditors. You can use Compare Hub, which has the Equifax score and report. ![]() It means that you should get as close to the Equifax or TransUnion scores as you can. That doesn’t mean that all third-part companies are misleading you. That means your credit range can shift depending on where you look. However, they can calculate your score using their own methods. Of course, you can check your score for free from a lot of third-parties. Each has its own approach to determining scores. There are two different credit reporting bureaus in Canada, Equifax and Transunion. ![]() Your Credit Score Range is Determined By Two Companies You are the only one who can improve your credit scores, this makes understanding your credit that much more important. Generally, a credit company or lender will look at both your credit score and your credit report, as well as a variety of other factors (employment status, income, debt levels etc.) to determine your creditworthiness. Depending on your scores and ranking, you may receive lower interest rates and may be more likely to be approved for loans and other credit products. ![]() Knowing where your credit falls on the credit score range is important.
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