More Canadians Rely on Credit Cards for Everyday Expenses, Credit Report Says

More Canadians Rely on Credit Cards for Everyday Expenses, Credit Report Says
Credit cards are displayed in a file photo. The Canadian Press/Ryan Remiorz
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A newly released credit report says that more and more Canadians are using credit cards to make day-to-day purchases as the cost of living increases.

TransUnion’s Quarterly Overview of Consumer Credit for the first quarter of 2024 said defaults on loans are expected to pick up this year and into 2025.