Credit Card Debt

• More Canadian youth are taking on debt — and low wages mean many can’t pay

  There's a rising number of youth aged 18 to 25 who are missing debt payments as they struggle with the cost of living combined with low wages at new jobs.

  Canada

  May 28, 2025
  
• More credit card debt likely for 1 in 5 as Canadians focus on ‘surviving’

  The survey from TransUnion also found about 26 per cent of Canadians said they expect to be unable to pay at least one bill or loan in full in 2025.

  Canada

  Jan 7, 2025
  
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• Missed credit payments higher among younger Canadians: report

  An Equifax Canada report says missed credit payments were higher among younger Canadians in the second quarter due to living costs and unemployment.

  Consumer

  Aug 27, 2024
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• Gen Z’s debt load is surging. Here’s why, and how they can manage it

  The report by the credit bureau took a look at the Canadian consumer credit market and found that participation has led to total consumer debt rising to $2.38 trillion.

  Money

  May 28, 2024
• Ontario cities have the worst credit card debt in Canada, study finds

  The latest data from money.ca shows that seven of the county’s top 10 worst cities for credit card debt are from Ontario, with Barrie, Ont. taking the number one spot.

  Economy

  May 2, 2024
• Credit card debt hit all time high in Q2 as inflation bites: Equifax

  Equifax Canada says many Canadians are slowing down their credit card spending, but lower-income households are having a harder time curbing spending.

  Consumer

  Sep 14, 2023
• Money Tips Monday: How to deal with your credit card debt

  Statistics Canada data indicates that for every dollar the average Canadian household has as disposable income, $1.85 is owed in credit market debt.

  Economy

  Jun 26, 2023
• Businesses are increasing their credit usage. Why that’s a worrying trend

  Equifax Canada says new data suggests a major shift in credit usage among businesses in the first quarter of 2023, and that casts doubts on the stability of the Canadian economy.

  Money

  Jun 20, 2023
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• Mortgage originations in Canada dipped in first quarter: report

  Equifax Canada says credit demand was high in the first quarter of the year while the mortgage market saw a significant slowdown.

  Money

  Jun 6, 2023
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• ‘It will have a big impact’: Atlantic Canada businesses hopeful about credit card deal

  "There are not a lot of things coming down. It's a relief to see something coming down," said the owner of an Uptown Saint John resturant

  Canada

  Mar 30, 2023