Here’s a quick rundown of credit scores:
740-799: Very Good
580-669: Fair (Note: It’s common practice to require a 600+ credit score for leasing properties.)
With fair/poor credit, one may experience higher interest rates on loans/mortgages.
If renting or leasing, you may be required to pay higher security deposits.
A co-signer may even be required in certain instances.
The terminology and ranges associated with these labels do vary by source,
but it’s more important to have a general idea of where you fall on the spectrum.
You’ll qualify for the best rates if you have a 740 or higher score,
with some institutions that even call for a 760.
Get your copy Do it yourself Credit Repair at www.GovernmentGrantsCanada.ca