Tag Archives: credit cards

Credit cards – ‘next shoe to drop’ for Canadian banks.

Conservative lending practices and regulations allowed Canadian banks to escape the worst of the writedowns faced by U.S. banks from the collapse of the subprime mortgage market. The lenders don’t have such protection for credit cards, aside from charging interest rates as high as 19.75% on outstanding balances, compared with a prime rate of 2.5% [...]

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Credit card delinquencies jump

A surge in missed credit card payments late last year could be a warning signal of trouble ahead in the Canadian lending market.
Canadians tend to let payments on their plastic slip before falling behind on other loans including mortgages and car payments, and lenders see a spike in credit card delinquencies as the “canary in [...]

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