The agency says in its latest consumer credit report that on average, consumers are spending 21.5 per cent more each month on their credit cards compared with pre-pandemic levels.
Oakes says the higher cost of living and the influx of new credit customers have driven credit card balances to rise by 14.5 per cent year-over-year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit card balances increase in first quarter as mortgage market slows, Equifax Canada saysEquifax Canada says in its latest consumer credit report that on average, consumers are spending 21.5% more each month on their credit cards compared with pre-pandemic levels
Source: globeandmail - 🏆 5. / 92 Read more »
Credit card balances increase in first quarter as mortgage market slows: Equifax - BNN BloombergEquifax Canada says credit demand was high in the first quarter of the year while the mortgage market saw a significant slowdown.
Source: BNNBloomberg - 🏆 83. / 50 Read more »