March 19, 2017 2:05 pm

Credit card delinquencies rise sharply in Alberta and Saskatchewan: TransUnion

Credit cards are displayed in Montreal, Wednesday, December 12, 2012. The Canadian household debt compared with income climbed to a record high in the third quarter as borrowing grew faster than incomes.


A new study from TransUnion says Alberta and Saskatchewan had a big jump in credit card delinquencies last year.

The study says 4.6 per cent of the credit cards in Alberta were seriously past due at the end of 2016.

READ MORE: Alberta still has the highest consumer debt in Canada

Watch below: In December 2015, personal finance and debt expert, Freida Richer, appeared on Global News Morning Edmonton to talk about what you can do to put yourself in a better situation for now and the future.

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Saskatchewan’s delinquency rate also spiked but remained below the national average, at 3.96 per cent.

TransUnion says the two oil-producing provinces were the main reason for a modest increase in the national credit card delinquency rate, which rose to 4.2 per cent.

Ontario and British Columbia saw their delinquency rates fall below the national average in the fourth quarter while Quebec’s rate was up slightly.

TransUnion says Canada’s average outstanding credit card balance rose by nearly $100 to $4,094 per card.

The credit monitoring agency estimates that the total outstanding balance drawn on Canadian credit cards in last year’s fourth quarter was $94.2 billion, a 3.3 per cent increase from the comparable period in 2015.

© 2017 The Canadian Press

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