A 670 credit score in Canada is considered good. It shows lenders that you have a reliable credit history. This score is just above the national average. While it shows responsibility, it may not guarantee the best deals. Lenders see people with this score as creditworthy, but they want to know more. They will check your income stability, job length, and other debts before making an offer. The rates and terms you get may depend on how much the lender trusts your ability to handle new credit. This can happen even if you have a good credit score.
Requirements and Conditions
Requirements
Conditions
If your credit score is 670, you are in a good position to get a loan. This score is "good," which means you have a solid credit history and many loan options. However, lenders look at more than just your score. They also consider your income, job history, and how much credit you are using. The credit utilization ratio shows how much credit you use compared to your total limit. This ratio can affect your loan approval and the terms you receive. Keeping this ratio low is very important. It helps you get loans and better terms. This way, you can feel more confident as you work toward your financial goals.
