What is excellent credit?

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