The average credit score is on the rise, and just in time for interest rates to go up
And Canadians are definitely putting all that extra time to good use — by improving their credit scores, as reflected in the results of aThe national average score at the beginning of 2022 sat at 672 — up from 649 in 2020 before the pandemic hit.
But what if you’re falling short of your local or even the national average? Andrew Graham, co-founder and CEO of Borrowell, says it’s not the end of the world.Article content But he adds that this three-digit number tends to fluctuate. What’s important are the underlying behaviours that are associated with good credit.
Fabian adds as long as you’re sticking to those good behaviours, like making your payments on time, lenders are going to notice that your score is trending in the right direction.
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