Alberta credit card delinquencies shoot up
Posted Mar 8, 2017 1:53 pm.
This article is more than 5 years old.
Fewer Canadians are using credit cards, but we’re borrowing more on the ones we already have.
Those are just some of the findings in the latest report from TransUnion looking at credit habits and trends, also showing Albertans are sailing into some dangerous waters.
Senior VP of Product Innovation and Analytics, Chris Dias, says Alberta has seen a significant jump in the 90 day credit card delinquency rate; it’s up 23 per cent, and now leads the country at 4.6 per cent.
“What we would expect to see as strength returns to the Alberta economy, that we would hope to see of course the corresponding decrease in delinquencies,” Dias said.
Alberta continues to have the highest average consumer non-mortgage debt levels, at almost $28,000, but Dias says that’s nothing new.
“As far as the overall impact to delinquencies, we’re seeing that rise to the tune of just over 7 per cent.”
Saskatchewan was the only other province to see an increase.
