Canadian Consumer Credit Market Reaches a New High, Driven by Credit Demand from New-to-Credit Canada Consumers
February 27, 2024 08:00 ET
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TransUnion
Key findings from TransUnion report: Consumer credit-active population growth is primarily driven by New-to-Credit consumers, with those being New-to-Canada driving the trend. Canada’s credit market...
Suspected Digital Fraud Originating from Canada Soars in 2023; Canada with Third Highest Increase in Fraud Rates Among 19 Countries Analyzed by TransUnion
February 21, 2024 06:00 ET
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TransUnion
Key Findings: 39% growth in the rate of suspected digital fraud attempts year-over-year (YoY) for transactions originating from Canada in 2023.60% of Canadians surveyed said they were recently...
Enrollments for Self-Credit Monitoring Increase as Canadians Seek New Credit and Look to Manage Debt, Reveals New TransUnion Study
January 31, 2024 08:01 ET
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TransUnion
Nearly half (42%) of surveyed Canadians monitor their credit report to help obtain new credit and 45% look to better manage debt. Underserved and new-to-credit consumers benefit from greater credit...
Nearly One Third of Canadians Expect to Be Unable to Pay their Bills in Full, 33% of Whom Plan to Increase Reliance on Credit to Stay on Top of Bills or Loans – TransUnion Study
January 09, 2024 06:00 ET
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TransUnion
57% of participants intend to cut discretionary spending and 22% plan to apply for new or refinance existing credit as Canadians appear to be bracing for continued increases in household cost of...
Canadians Increase E-Commerce Activity During Black Friday Shopping Period Despite 80% Concerned about Falling Victim to Online Fraud Over Holidays – TransUnion study
December 12, 2023 06:00 ET
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TransUnion
TransUnion study also reveals 4.5% increase in suspected fraud rate in Canada from the same period in 2022. Key Findings: 80% of Canadians surveyed are concerned about falling victim to online...
Canadian Credit Market Reaches Record High Participation
December 05, 2023 06:00 ET
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TransUnion
Total Canadian credit active consumers holding at least one credit product at an all time high of 31.2 million.While average credit card balance per consumer rose due to higher cost of living, the...
Nearly Half (49%) of Surveyed Canadians Said They Were Recently Targeted by Fraud; Around 1 in 20 Digital Transactions in Canada Suspected Fraudulent in H1 2023, Reveals TransUnion Canada Analysis
September 12, 2023 09:15 ET
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TransUnion
Fraudsters in Canada increased their scams against Telecommunications (up 400% YoY), Insurance (up 90% YoY) and Online Communities (up 75% YoY) the most TransUnion points to key tips for Canadians...
Canadian Consumers Turn to Credit for Liquidity
August 29, 2023 06:00 ET
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TransUnion
Demand for credit continues to grow, likely fuelled by consumers seeking additional liquidity in response to high cost of living. Increased debt levels and higher interest rates contributed to higher...
Bracing for a Possible Recession, 34% of Canadians Build Up Savings, Following a Record High in Stockpiled Savings Through the Pandemic; 54% Cut Discretionary Spending, Reveals TransUnion Study
July 10, 2023 06:00 ET
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TransUnion
Q2 2023 TransUnion Canada Consumer Pulse study key findings: Top 3 financial concerns: inflation (47%); increasing house prices (14%); possibility of recession (11%)32% anticipate being unable to pay...
Strong Borrowing Activity and Participation Continues in the Canadian Credit Market
May 31, 2023 06:00 ET
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TransUnion
Continued strong balance growth in Canada’s credit market during the first quarter of 2023, despite concerns of a looming recessionCanadian consumers demonstrate healthy credit performance and...