@Anonymous wrote:I'm still trying to figure out if FICO scores are different in the US and Canada.
FICO has offices in Montreal and Toronto, closed right now unfortunately so I can't ask them and phone.
The FICO score range I received runs from 300 to 900, seems to me people on the forum are reporting a smaller range for FICO in the US
The FICO range in Canada is defined in the following groups:
300 - 560, poor 4%
560 - 660, fair, 10%
660 - 725, good, 15%
725 - 760, very good, 14%
760 - 900, excellent, 57%
Does that match the grouping in the US?
We'll trade you for maple syrup, eh?
@Anonymous wrote:I'm still trying to figure out if FICO scores are different in the US and Canada.
FICO has offices in Montreal and Toronto, closed right now unfortunately so I can't ask them and phone.
The FICO score range I received runs from 300 to 900, seems to me people on the forum are reporting a smaller range for FICO in the US
The FICO range in Canada is defined in the following groups:
300 - 560, poor 4%
560 - 660, fair, 10%
660 - 725, good, 15%
725 - 760, very good, 14%
760 - 900, excellent, 57%
Does that match the grouping in the US?
Equifax Canada uses Beacon 5.0 but with a modified top end score of 900. You will find that Canadian scores are skewed much higher that US scores with the 50 percentile at around 759 whereas the US is more like 711 and the 75 percentile scores at 808 vs 777 respectively. There is no such thing as a true bell curve for Canadian scores as the bell is skewed much further to the high scores than the lower scores. My own score of 791 EQ is only the 64 percentile in Canada but it would be a number to die for down south.
The difference is largely reflected in the different delinquicy rates for CCs. - 1.1% for Canada and 2.2% for the US. Canadians carry far more personal debt on their cards but are also better at paying their debts, hence the higher credit scores. Transunion Canada seems to be using their own scoring system that is not directly related to FICO. Correction: TransUnion Canada switched to using FICO 8 in 2011 for their scoring system. Experian doesn't provide consumer level scores in Canada. I also have received credit scores from a Montreal company called Credit Alert which simply repackages the credit information from Equifax and has their own non-FICO scoring system. I don't know if you can purchase FICO scores directly from FICO in Canada.
Exact comparisons between the US and Canada is next to impossible as their are really 50+ scoring models in the US and an unknown number in Canada. About all I have been able to do is compare the delinquincy rates for various ranges between US and Canadian scores.
Starting Score: EQ 732 October 2007; Current Score: EQ 839; TU 865, July 2022;