1 In 4 Canadian Credit Card Users Couldn’t Make Payments This Spring: Survey

A customer uses a credit card to make a contactless payment in Norwich, U.K., on June 9, 2020. A J.D. Power executive says Canadian credit card companies are “falling behind in key areas related to the customer experience.”

“In terms of what customers say is most important, the biggest is terms — interest rate, credit limit and fees — and making sure that those things align with customer expectations. And what we’re seeing right now is that customers are more sensitive in that area,” said Cabell in a phone interview from the U.S.

As of the end of July, the average deferral rate for personal loans and credit cards at the Big Six banks fell to 4.3 per cent, down from 9.6 per cent in April, according to RBC, which said that banks deferred payments on nearly 470,000 credit cards.

That 25% eh ?

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