A new survey says Canadians are leaning more heavily on credit cards amid persistent inflation and rising interest rates.
Equifax Canada's consumer survey released Tuesday found the average credit card balance held by Canadians was at a record high of $2,121 by the end of September.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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