What Credit Score Do You Start With?

You don’t actually start with a credit score at all.

In Canada, you don’t have a score until you’ve:

• Opened at least one credit account (like a credit card, loan, or credit-building product), and

• Used it long enough for the lender to report some history to the credit bureaus (usually a few months).

Before that, you’re “no file” or “thin file” – lenders can’t see a score because there’s nothing to score yet.

When your first score appears, it:

• Won’t be 0, and

• Won’t automatically be “perfect” either

It lands somewhere in the normal range (typically 300–900 in Canada) based on how you’ve handled that first credit account so far—things like on time payments and how much of your limit you use.

KOHO Essential Can Help You Start Off Right

With KOHO Essential:

• It has a low monthly plan fee that can be waived when you set up direct deposit or add +$1,000.

• You can opt into KOHO Credit Building for $10/month and build your credit history

• Quickly and easily check your credit score for free, anytime

• Grow your savings with a 2% interest savings rate on your entire balance.

• Earn 1% cash back on groceries, eating & drinking, and transportation.

• Enjoy unlimited transactions (never worry about sending money to someone again).

What Affects Your First Credit Score

Once your first account starts reporting, your initial score is shaped by:

• Payment history – Do you pay on time, every time?

• Credit utilization – How much of your available limit are you using? (Lower is usually better.)

• Length of history – How long the account has been open

• New credit – How many times you’ve applied for new credit recently

Use your first credit product responsibly for a few months, and your “starting” score can look solid pretty quickly. Miss payments early, and it can start lower.