Victoria Residents Have the Best Average Credit Scores in Canada

The Canada Mortgage and Housing Corporation and Equifax reports delinquency rates remain low and the average credit scores remain strong, especially for Victoria residents who have the highest average scores at 780 closely followed by Vancouverites at 776.

Credit scores range from 300 to 900 and anything above 750 is considered good credit. Lower scores might mean a borrower needs a co-signer and may have to pay higher interest rates.

Strong credit scores are needed to buy homes in Victoria that are more expensive relative to most of the rest of Canada. Paying bills on-time and avoiding maxing out credit cards help to build up one’s credit score.

Reference: https://bc.ctvnews.ca/residents-in-victoria-and-vancouver-have-highest-credit-scores-in-country-1.4561798