What is excellent credit?
July 26, 2013From a mortgage standpoint, excellent credit consists of:
- Established credit for at least two years
- A credit score of 680 or more
- Two or more credit accounts with $2,000+ credit limits
- At least one major credit card or line of credit
- No bankruptcies, consumer proposals, credit counselling, judgements or collections
- No more than one 30-day late payment (R2) in the last two years