Credit Card Debt
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Missed credit payments higher among younger Canadians: reportAn Equifax Canada report says missed credit payments were higher among younger Canadians in the second quarter due to living costs and unemployment.ConsumerAug 27
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Gen Z’s debt load is surging. Here’s why, and how they can manage itThe 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.MoneyMay 28
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Ontario cities have the worst credit card debt in Canada, study findsThe 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.EconomyMay 2
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Credit card debt hit all time high in Q2 as inflation bites: EquifaxEquifax Canada says many Canadians are slowing down their credit card spending, but lower-income households are having a harder time curbing spending.ConsumerSep 14, 2023
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Money Tips Monday: How to deal with your credit card debtStatistics Canada data indicates that for every dollar the average Canadian household has as disposable income, $1.85 is owed in credit market debt.EconomyJun 26, 2023
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Businesses are increasing their credit usage. Why that’s a worrying trendEquifax 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.MoneyJun 20, 2023
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Mortgage originations in Canada dipped in first quarter: reportEquifax Canada says credit demand was high in the first quarter of the year while the mortgage market saw a significant slowdown.MoneyJun 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 resturantCanadaMar 30, 2023
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Why millennials in Canada are hardest hit by debt: ‘Living on the edge’On a per-population basis, millennials were 1.4 times more likely to file for insolvency than people in generation X aged 42 to 56, a study shows.MoneyMar 26, 2023
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Credit card debt up 15% in Q4 with younger Canadians feeling pinch: EquifaxEquifax says Canadians' credit card debt increased by more than 15 per cent from the same period a year earlier and totalled more than $100 billion for the first time.EconomyMar 9, 2023
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