What is excellent credit?

July 26, 2013

From 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