TORONTO — A new survey says Canadians are leaning more heavily on credit cards amid persistent inflation and rising interest rates.
Equifax says average non-mortgage debt was $21,188, returning to levels not seen since the first quarter of 2020. More than half of Canadians surveyed said they have a lot of anxiety about their personal debt levels.
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Credit card debt at record high amid stubbornly hot inflation, survey says - BNN BloombergA new survey says Canadians are leaning more heavily on credit cards amid persistent inflation and rising interest rates. I'm 3 months away from being completely debt free.. so nope !!!
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Posthaste: Cash-strapped Canadians have run their credit card debt up to a record high: EquifaxCredit card debt declined during the pandemic, but use of cards has now risen for six consecutive quarters, says Equifax. Find out more Canadian credit card debt is up because of Govt policy on Covid. Canadians had to live on credit when they could not go to work, to feed themselves & stay alive. Now Govt wants $$ back Credit C companies want $$ so no break for the citzen that got PUT in this position not good! Something should be done to help people that were put under this credit card burden by govt. covid policy. It is not like now u can catch up. Probably the majority of Canadians r pay check to PC how does 1 recover? Need CC debt forgiveness/credits/govt reimbursements. Like how does 1 that is living pay check to pay check catch back up from where the Federal Govt policy has put Canadians? How? Write out the formula how how to do it. Where does the extra $$ come from where there isn't any? Only thing is if Feds & CC companies take some ownership
Source: financialpost - 🏆 7. / 85 Read more »
Business groups call for government action on credit-card swipe feesSome business associations say action by Ottawa is long overdue and businesses are unable to absorb the costs as credit-card use rises Poll: VisaDebit? Let me swipe my AMEX / Visa Infinite / World Elite... You should all be asking for tax reduction not this bs.
Source: globeandmail - 🏆 5. / 92 Read more »