Credit Card Debt

• 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
  
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• 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
• ‘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
• 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.

  Money

  Mar 26, 2023
• Credit card debt up 15% in Q4 with younger Canadians feeling pinch: Equifax

  Equifax 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.

  Economy

  Mar 9, 2023
• Interest rates have soared in 2022. Here’s how much more you’re paying to borrow

  Canadians 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.

  Money

  Dec 7, 2022
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• Roughly half of Canadians financially insecure as debt confidence hits record low: report

  The 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.

  Money

  Jan 17, 2022
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• 1 in 4 Canadian shoppers overshot their Black Friday budget: report

  On average, Canadians expect to carry $814 more in credit card debt into the new year than they had before the holiday spending season.

  Consumer

  Dec 3, 2021