With the cost of living consistently on the rise, more Canadians are continually turning to credit, with the average credit card balance now standing at $4,000, according to a new report from TransUnion.
Data that came from the TransUnion’s Q2 2023 Credit Industry Insights Report shows a 4.2 per cent increase, or $94.8 billion, in Canadian household debt compared to the previous year, with a total debt of $2.34 trillion for Canadians.
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