Credit Card Debt
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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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Interest rates have soared in 2022. Here’s how much more you’re paying to borrowCanadians are increasingly worried interest rates are rising faster than they can keep up, and it's not just homeowners. Here's who's feeling the pain as debt costs soar.MoneyDec 7, 2022
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Roughly half of Canadians financially insecure as debt confidence hits record low: reportThe latest MNP Consumer Debt Index found the twin stressors of holiday spending bills coming due and the resurgent COVID-19 pandemic has Canadians feeling squeezed.MoneyJan 17, 2022
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1 in 4 Canadian shoppers overshot their Black Friday budget: reportOn average, Canadians expect to carry $814 more in credit card debt into the new year than they had before the holiday spending season.ConsumerDec 3, 2021
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