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What Are Average Credit Scores in Canada by Age?

Loan Express does not require credit checks, decline a loan based off a credit check, nor do credit checks affect the minimum approved amount of the loan. The following article is purely for educational purposes.

The Average Canadian Credit Score

Canadian credit scores vary from 300-900. The closer you are to 900, the better your score. A better score means lenders are more inclined to approve you for loans or credit. In addition to a more straightforward approval process, the higher your credit score is, lenders are more prone to offer you a lower interest rate, as you are more likely to repay them on time.

According to TransUnion, one of Canada’s primary credit reporting bureaus, the average Canadian credit score is around 650.

What About The Average Credit Score by Province?

The average credit score fluctuates by province, as the health of credit is tied to your financial situation; it makes sense that there are differences between the region you live in. Some provinces/territories offer their population more financial opportunities or more financial hurdles, all of which can affect credit score. Some of these opportunities or limitations could be:

  • Amount of jobs available
  • Cost of living
  • Cost of housing
  • Insolvency

For example, the province with the highest number of people with credit scores above 750 is Quebec. The province or territory with the highest number of people with credit scores below 520 is Nunavut.


Toronto – 679

Mississauga – 671

Ottawa – 663

Brampton – 646

Hamilton – 629 


Quebec City – 676

Montreal – 663

Newfoundland and Labrador

St. John’s – 664


Calgary – 650

Edmonton – 625


Iqaluit – 644


Regina – 642


Winnipeg – 638 

Nova Scotia

Halifax – 638

New Brunswick

Fredericton – 628

British Columbia

Vancouver – 687

Victoria – 679

Northwest Territories

Yellowknife – 637 

Prince Edward Island Charlottetown – 636

Yukon Whitehorse – 619

Data: Average Credit Score By Canadian City study

Does the Average Credit Score in Canada Vary by Age? 

Yes, there is a connection between age and credit score. Two factors that impact your credit score are your credit history and your credit mix. As you grow older, you will likely open lines of credit and apply for a credit card. You also make more significant purchases, such as your first car or home. With these purchases come loans and mortgages, adding to your credit mix. As you pay these off (hopefully on time and in full!), your credit history grows.

According to Equifax Canada’s most recent Generational Study, here are the average credit scores by age group:

Credit Score Advice Per Each Age Group

If your credit score falls below the Canadian average of 667, there are steps you can take to build your credit. Below are concrete steps you can take by age to ensure your credit score is as strong as it can be.

Ages 18-24

As younger people spend and make less, they don’t typically apply for many credit products. This makes creating a healthy credit history at this age difficult. During this time, you should start developing healthy financial habits, such as obtaining your first credit card and paying it off in a timely manner. This can help you build your credit score when you need it later to apply for larger, more expensive loans.

Ages 25-35

At this age, saving should jump to the top of your priority list, as you’ll soon be purchasing your first car, mortgaging a home and having children. These major life events typically happen around the age of 30, so you should start thinking early on about paying down any consumer debt and minimize the amount of dependence you have on credit cards.

Ages 45-54

Retiring at 50 is a thing of the past; however, it is likely on your mind. By the time you’re 40 you should have healthy financial habits when saving and spending wisely. A majority of your initial car or home loans should be paid off, and you should have invested a healthy amount into your RRSP. 

Ages 55+

By this point, the car and the mortgage are paid, and your children have careers and families of their own. Many people at this age sell their houses and downsize to a comfortable condo. While a good credit score is useful, continuing to save for retirement as well as creating a plan to make sure that your hard earned money lasts is likely your priority.

Want to Apply for Loan Without A Credit Check? Visit Loan Express Today!

When it comes to applying for a loan with Loan Express, good credit or bad credit makes no difference. We will never reject an application based on credit history or a credit score! Receive the cash you need with peace of mind today, with Loan Express.