Equifax Canada says credit card balances hit an all-time high of $107.4 billion in the second quarter of 2023, in a sign financial stress continued to build in the face of inflation and rising interest rates.
The agency says total Canadian consumer debt reached $2.4 trillion during the second quarter.
Vice-president of advanced analytics Rebecca Oakes says non-mortgage debt growth was largely due to substantial growth in credit card balances and a notable increase in debt among subprime and deep subprime consumers.
The report by Equifax Canada said average non-mortgage debt per credit-active consumer edged up to $21,131.
Oakes says despite mounting credit card debt, credit card delinquencies aren't rising as fast as expected, in part because of an influx of new credit card users which also contributed to the growth in overall non-mortgage debt.
Equifax Canada says many Canadians are slowing down their credit card spending, but lower-income households are having a harder time curbing spending, and fewer consumers were able to pay their monthly credit card balance in full during the second quarter.
This report by The Canadian Press was first published Sept. 14, 2023.
Following the re-election of former U.S. president Donald Trump, former finance minister Bill Morneau says the Canadian government should re-evaluate the timing of some cornerstone Liberal policies.
A team of tornado experts are investigating a path of damage through Wellington County.
Canada has announced changes to their visitor visa policies, effectively ending the automatic issuance of 10-year multiple-entry visas, according to new rules outlined by Immigration, Refugees and Citizenship Canada.
Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.
Across Canada, dignitaries marked Remembrance Day by laying wreaths at ceremonies, school children sang in the late fall chill and veterans recalled the horrors of battle.
A man accused of killing a person and staging it as a fatal bear attack in Tennessee was taken into custody in South Carolina over the weekend on murder charges, in what authorities described as a plot to steal the victim’s identity.
If Earth's astronomical observatories were to pick up a signal from outer space, it would need an all-hands-on-deck effort to decipher the extraterrestrial message. A father-daughter team of citizen scientists recently deciphered the message. Its meaning, however, remains a mystery.
U.S. President Joe Biden and Vice-President Kamala Harris on Monday made their first joint appearance since her U.S. selection loss when they observed Veterans Day together by laying a wreath at the Tomb of the Unknown Soldier.
A B.C. teen has a suspected case of H5N1 avian flu — the first known human to acquire the virus in Canada.
A 15-year-old boy from Kitchener, Ont. is facing a long list of criminal charges as the Waterloo Regional Police Service wraps up a lengthy swatting investigation.
Two nephews of the beloved Harry R. Hamilton share stories about his life and legacy.
Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.
A team of tornado experts are investigating a path of damage through Wellington County.
A government-funded report released to Â鶹´«Ã½ highlights 'systemic racism' against dozens of Black executives within the federal public service, including allegations of abuse, violence and harassment that, in some instances, led to suicide.
The federal government is urging both sides in the British Columbia port dispute to return to the table after mediated talks broke off on Saturday, the first of three scheduled days.
U.S. President Joe Biden and Vice-President Kamala Harris on Monday made their first joint appearance since her U.S. selection loss when they observed Veterans Day together by laying a wreath at the Tomb of the Unknown Soldier.
Israel’s new foreign minister said that there has been 'certain progress' in efforts to end the fighting with Lebanon’s Hezbollah.
A Spirit Airlines plane was hit by gunfire Monday over Haiti’s capital Port-au-Prince, according to diplomatic source in the country, resulting in what the airline described as “minor injuries†to one of its crew members.
New York City Mayor Eric Adams is seeking to move up the start of his trial on corruption and bribery charges so he can focus on his campaign for reelection this spring.
A man accused of killing a person and staging it as a fatal bear attack in Tennessee was taken into custody in South Carolina over the weekend on murder charges, in what authorities described as a plot to steal the victim’s identity.
With armed conflict again on their continent, many European leaders marked the end 106 years ago of First World War with warnings that liberty, so often taken as self-evident, should be cherished and defended.
Following the re-election of former U.S. president Donald Trump, former finance minister Bill Morneau says the Canadian government should re-evaluate the timing of some cornerstone Liberal policies.
Murray Sinclair’s family members say the late justice and senator has been laid to rest according to his wishes.
Prime Minister Justin Trudeau announced voters in Cloverdale—Langley City will pick their next member of Parliament on Dec. 16.
A B.C. teen has a suspected case of H5N1 avian flu — the first known human to acquire the virus in Canada.
An opponent of vaccines who urged violence against scientists, politicians and public health officials during the COVID-19 pandemic was sentenced Monday.
Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to healthier cognitive aging, including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.
African elephants are Earth's largest land animals, remarkable mammals that are very intelligent and highly social. They also are in peril.
If Earth's astronomical observatories were to pick up a signal from outer space, it would need an all-hands-on-deck effort to decipher the extraterrestrial message. A father-daughter team of citizen scientists recently deciphered the message. Its meaning, however, remains a mystery.
Bernadett 'Bett'†Szabó, a 19-year-old Hungarian sex worker, was murdered in the Dutch capital in 2009. Now, more than 15 years after her death, police are hoping to uncover new information about her killing.
Taylor Swift came out on top at the 2024 MTV EMAs on Sunday, walking away with best artist, best U.S. act, best live act and best video for “Fortnight†(featuring Post Malone).
Chu shared on his Instagram Stories that he and his wife Kristin Hodge welcomed their fifth child on Saturday, writing that he “can’t believe this happened while the movie is premiering.â€
On Thursday morning, Dave Penny officially ended a suggested hundred-day isolation period that followed his diagnosis and stem cell treatment for non-Hodgkin's Lymphoma. On Thursday night, Penny returned to a stage at a downtown St. John's bar, regaling a small crowd with songs and stories with a distinctive Newfoundland flair.
As money continues to pour into crypto following Donald Trump's victory last week, bitcoin has climbed to yet another record high.
Most U.S. stocks are rising Monday and adding to the gains made during their best week of the year.
Business groups are raising concerns about the broad effects of another round of labour disruptions in the transport sector as Canada faces shutdowns at its two biggest ports.
Doom spending, or the practice of spending money to soothe fears about broader issues like politics or the economy, shows up everywhere from YouTube and TikTok videos to Reddit to personal finance discussions and data in surveys.
A Vancouver designer is making waves in the architectural world with an outdoor modular building created to address the city’s unrelenting housing crisis.
A rare letter signed by three of the U.S. Founding Fathers of the United States is going on sale, and is expected to fetch up to US$1 million when it goes under the hammer next week.\
Canada will be without captain Alphonso Davies for its upcoming CONCACAF Nations League quarterfinal against Suriname.
Pat McLaughlin is stepping down as Hockey Canada's chief operating officer and executive vice-president of strategy, the governing body announced Monday.
The Edmonton Oilers may have found the break they were looking for.
Select Porsche owners in Canada have been told to stop driving their cars immediately and to seek repairs after an issue was identified that could cause wheels to separate from vehicles.
A driver's trip from London, Ont. to Ottawa to visit their girlfriend ended in a traffic stop for speeding on Highway 417, according to police.
Recall notices have been issued for some Volkswagen models from 2006 to 2019 for airbag safety issues.
A congestion crisis, a traffic nightmare, or unrelenting gridlock -- whatever you call it, most agree that Toronto has a congestion problem. To alleviate some of the gridlock, the Ontario government has announced it plans to remove bike lanes from three major roadways.
For the second year in a row, the ‘Gift-a-Family’ campaign is hoping to make the holidays happier for children and families in need throughout Barrie.
Some of the most prolific photographers behind CTV Skywatch Pics of the Day use the medium for fun, therapy, and connection.
A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.
As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.
A group of women in Chester, N.S., has been busy on the weekends making quilts – not for themselves, but for those in need.
A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.
Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.
A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.
A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.
A B.C. teen has a suspected case of H5N1 avian flu — the first known human to acquire the virus in Canada.
Discounts abound at a new eatery in downtown Vancouver that offers pizzas and fry towers at a base price of $9.11, as a tribute to first responders.
Several hundred people gathered outside the Ontario legislature in Toronto to honour veterans and remember those who died fighting for their country.
Toronto is expected to see an economic boost to the tune of nearly $300 million thanks to Taylor Swift’s upcoming Eras Tour, which will be making a stop in Canada’s largest city for a six-show run later this month.
A man believed to be in his 40s has been rushed to a trauma centre following a stabbing in downtown Toronto.
Calgarians observed Remembrance Day at a number of different ceremonies across the city on Monday, including at the Hangar Flight Museum.
A memorial walk was held Sunday afternoon by the Calgary branch of the Ukrainian Canadian Congress to “honour the Canadian soldiers who died fighting for peace in the past and the Ukrainian soldiers who are giving their lives for freedom today,†according to a media release.
July 2025 may seem like it’s in the distant future, but for the St. Luke playground committee time is ticking to fundraise the $340,000 they still need to build a new playground.
Crowds gathered in Ottawa and eastern Ontario on Monday to honour the sacrifice of men and women in uniform who gave their lives in service of Canada.
The company confirms it will open the new Chipotle at 5671 Hazeldean Road on Thursday, in the former location of Benny & Co.
The Fleet Street Pumping station is Ottawa's oldest water facility. Up to two-thirds of the city's water supply can move through it,
A 36-year-old Montreal man who was out on bail after allegedly uttering death threats to a woman is now accused of murdering her on the South Shore.
Hundreds of people gathered in downtown Montreal on Monday to mark Remembrance Day and honour Canadians who sacrificed their lives in the great wars and beyond.
Private Martine Roy was only 20 years old in 1984 when she was arrested, interrogated and dismissed from the Canadian Armed Forces for being what was then termed a "sexual deviant."
Edmonton's Beverly Memorial Cenotaph on Monday hosted its 104th Remembrance Day service to honour past and present veterans.
Across Canada, dignitaries marked Remembrance Day by laying wreaths at ceremonies, school children sang in the late fall chill and veterans recalled the horrors of battle.
A member of Canadian Forces Base (CFB) Edmonton participated in the national Remembrance Day Ceremony in Ottawa on Monday.
Thousands of Maritimers turned out in wet weather Monday to remember those who have served, and continue to serve, in Canada's armed forces for Remembrance Day.
A Cape Breton senior recalls her life in German-occupied France, and her mother’s death, during the Second World War.
Thousand of people gathered at the Menin Gate in the Ypres, Belgium for Monday’s Remembrance Day Ceremony.
Thousands gathered at the RBC Convention Centre on Monday to bear witness to a sombre and historic Remembrance Day ceremony.
Four teenagers have been arrested in connection with the attack and robbery of a 62-year-old woman.
A sacred fire burning in Winnipeg has brought healing and hope to some members of Xavia Skye Lynn Butler’s family.
November 11th marks a solemn day across Canada, and Regina is no exception.
Fire crews reported that no one was hurt after flames broke out in a home on Robinson Street in central Regina.
Regina author Valerie Crowther is celebrating the release of her book ‘War Letters: Linking Lives in the Second World War.’
A team of tornado experts are investigating a path of damage through Wellington County.
A 15-year-old boy from Kitchener, Ont. is facing a long list of criminal charges as the Waterloo Regional Police Service wraps up a lengthy swatting investigation.
Two buildings in downtown Hamilton collapsed early Monday morning but firefighters say no injuries were reported.
Saskatchewan RCMP are searching for a suspect after a man was seriously injured in a farm-related incident in Montreal Lake.
It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.
The Regina Rams claimed the Hardy Cup after a hard fought battle against the Saskatoon Huskies 19-14 on Saturday in the first all Saskatchewan U-Sports western conference final since 2002.
Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.
Across Canada, dignitaries marked Remembrance Day by laying wreaths at ceremonies, school children sang in the late fall chill and veterans recalled the horrors of battle.
If Earth's astronomical observatories were to pick up a signal from outer space, it would need an all-hands-on-deck effort to decipher the extraterrestrial message. A father-daughter team of citizen scientists recently deciphered the message. Its meaning, however, remains a mystery.
Oxford OPP say that they are investigating a collision that resulted in serious injuries on Sunday evening.
A team of tornado experts are investigating a path of damage through Wellington County.
The events will start at 10:15 a.m. with a parade that forms up in front of the Delta London Armories, marches east on Dundas Street and turns north onto Waterloo Street to Dufferin Avenue, the west to the Cenotaph.
A Barrie man is accused of being at the centre of an alleged $2.2 million stolen used car scheme.
An unseasonably mild fall in Simcoe County has put any hopes for an early start to the ski season on hold, still, one local resort has its sights set on the slopes.
Environment Canada issued a weather alert for Barrie, Collingwood and surrounding areas, alerting residents about the wicked winds that are expected to pick up to 80 kilometres per hour in the afternoon hours.
A local high school honoured veterans of the “Forgotten War†on Monday.
After a Canada Border Services Agency (CBSA) worker took their own life while on shift at the Ambassador Bridge Saturday, Â鶹´«Ã½ Public Safety Analyst Chris Lewis highlighted the mental health burdens faced daily by law enforcement.
Representatives of the Windsor Veterans Memorial Services Committee, military representatives, wreath bearers, government officials, and members of the public will attend the Cenotaph at City Hall Square for the outdoor service.
A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.
A B.C. teen has a suspected case of H5N1 avian flu — the first known human to acquire the virus in Canada.
Environment Canada says heavy rain and winds could cause power outages on Vancouver Island as an "intense" storm system is set to hit the B.C. coast Sunday.
A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.
The emergency department at South Okanagan General Hospital in Oliver, B.C., will be closed for 31 hours this weekend, the second such closure in a week and the third since the start of November.
Police in Kamloops, B.C., are reminding parents and guardians to check their children's Halloween candy after receiving a report of a mother finding a razor blade in one of her daughter's treats.
The Southern Alberta Recreation Association is officially announcing the Town of Taber as next year’s host for the Southern Alberta Summer Games.
The Lethbridge Hurricanes broke open a close game with three goals in the first two minutes of the third period as they defeated the Warriors 7-3 in a game played Friday night in Moose Jaw.
There might not a lot snow just yet, but many southern Albertans are still itching to get outdoors.
Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.
It was just days before the COVID-19 pandemic shut the world down when the Shaft Bottom Boys of Sudbury broke a world record for 'Deepest Concert Underground.' Now, more than four years later, a Timmins band is looking to take the title.
Police say that a 16-year-old was attacked with a sword Nov. 3 in Cobalt, Ont., in a case of intimate partner violence.
Police in Newfoundland say a man was electrocuted Saturday by a downed power wire about 10 kilometres north of St. John's, N.L.
On Thursday morning, Dave Penny officially ended a suggested hundred-day isolation period that followed his diagnosis and stem cell treatment for non-Hodgkin's Lymphoma. On Thursday night, Penny returned to a stage at a downtown St. John's bar, regaling a small crowd with songs and stories with a distinctive Newfoundland flair.
A Memorial University scientist says the mysterious white blobs washing up on Newfoundland beaches are actually gobs of plastic -- and they need to be cleaned up.
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