We Carry More Credit Card Debt Here

Posted on Saturday, February 28, 2015 14:41 PM

When it comes to credit card debt - over half of us get stuck in a cycle of paying it off with all the money at our disposal then racking up even more debt to pay for our expenses.

That finding is contained in BMO's Credit Card Report showing 46-percent of Canadians are currently carrying credit card debt and for Atlantic Canadians, that number is actually even higher at 52-percent.

The report also finds 52-percent of Canadians pay for most of their purchases using credit cards however just over half pay off their entire credit card balance every month.