Total Consumer Debt Climbs to $2.2 Trillion With Credit Card Spending Up

TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) — Whether it’s pent-up consumer demand, lifting of travel restrictions or higher disposable incomes, Canadians are giving their credit cards a workout heading into the holidays according to Equifax Canada’s most recent consumer credit trends and insights report. The average monthly credit card spend per credit card holder is up by 3.9 per cent this quarter when compared to the pre-pandemic period of Q3 2019, which is mostly driven by younger consumers under the age of 35. Read More