Posthaste: Canadians' consumer credit-card balance crosses $100 billion for first time

Equifax points to two primary areas for the additional take-up in credit usage: higher costs of living and newcomers.

However, credit-card payments have started to slow down, with over 300,000 more consumers carrying an unpaid balance from one month to the next as of December 2022 compared to 2021. The average revolving credit-card balance climbed 9.3 per cent during that time. The missed payments are also reflected in the 90-plus day volume delinquency for credit cards and auto loans in 2022.

Maybe if the greedy banks weren’t charging 23% in interest people could pay their bills.

Nothing to see here folks, move along

Hmmmm let me see why…mortgage increased $1200 per month (interest alone)! scotiabank gas bill doubled Enbridge groceries tripled, taxes on everything, and property tax JustinTrudeau WORKING CLASS suffering and paying for your mistakes, and increased benefit amounts!!

People have been over spending gor years and living on debt. We have created a problem there may be no happy escape from.

Yes. We are taxed to death. Our food prices are astronomical. Trudeau, how goes with you?

Just like the country itself. Living on a credit card.

In Colombia, most banks are going to lower their credit cards’ interest rate, when is Canada going to do the same? JustinTrudeau fordnation financialpost WorldBank USATODAY FoxNews GoldmanSachs BlackRock globeandmail SkyNews guardian RishiSunak TheAgenda CBCNews

The population is also growing. Canada will soon be 40M for the first time. 100Ks of young adult immigrants are being added every year. Its not as alarming as it seems.

Not surprising that the age group mentioned in the article, were likely not even wearing pampers yet when interest sky rocketed in the late 70's early 80's..will have no idea what's in store for them? Even the socialists won't save them?

Ouch. Debt free 🙋🏽‍♂️

Thanks Blackface.

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Posthaste: Canadians' consumer credit-card balance crosses $100 billion for first timeCanadians are piling on more debt amid high inflation and interest rates, with total debt at $2.37 trillion in the fourth quarter. Read on. Thanks Loblows et al. Banks get richer Who are these people who carry a balance on a credit card? It gives me SO MUCH ANXIETY to have a balance on a card. I haven't paid interest on a card in like a decade. I pay it off every month, because why send my money down a black hole? I just collect the cashback rewards.
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Posthaste: Canadians' consumer credit-card balance crosses $100 billion for first timeCanadians are piling on more debt amid high inflation and interest rates, with total debt at $2.37 trillion in the fourth quarter. Read on.
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Posthaste: Canadians' consumer credit-card balance crosses $100 billion for first timeCanadians are piling on more debt amid high inflation and interest rates, with total debt at $2.37 trillion in the fourth quarter. Read on.
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Posthaste: Canadians' consumer credit-card balance crosses $100 billion for first timeCanadians are piling on more debt amid high inflation and interest rates, with total debt at $2.37 trillion in the fourth quarter. Read on.
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Credit card debt up 15% in Q4 with younger Canadians feeling pinch: Equifax - National | Globalnews.caEquifax 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. The NOW generation , how surprising !
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