Credit Score 300-499

What a 300-499 Score Means for Your Loan

A 300-499 credit score sits within the lower half of Equifax's Poor band (300-559). A score in the 300-499 range sits at the very bottom of Equifax's Poor tier, often the result of missed payments, collections, or a limited credit history. Traditional banks are unlikely to approve a personal loan at this level, but a specialized subprime lender network can still offer options — usually at a higher rate to offset the lender's risk. See our full credit score ranges guide to compare against other tiers.

What Lenders See at This Score

• A pattern of missed or late payments in recent history
• High credit utilization or existing collections accounts
• Limited or no established credit history
• Lenders will lean heavily on your income and employment stability instead of your score alone

Typical Rates & Approval Odds

Expect offers toward the higher end of our lender network's range, and approval may require a co-signer, a smaller loan amount, or proof of stable income. Even at this score, checking your rate only uses a soft credit inquiry, so it costs nothing to see what's available.

Eligibility Requirements

• 18 years or older (19 in BC, NB, NL, NS, NT, NU, and YT)
• Canadian citizen or permanent resident
• Valid Social Insurance Number (SIN)
• Active bank account in your name
• A regular source of income

Tips to Improve Your Score

• Bring any past-due accounts current — this has the single biggest impact on rebuilding a very low score.
• A secured credit card or credit-builder loan can start rebuilding history within a few months.
• Dispute any errors on your credit report — mistakes are more common than most people expect.

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