TransUnion report projects uptick in credit card delinquency rates in 2018

TORONTO _ Expectations of higher interest rates in 2018 and a slight cooling off of the Canadian economy may see more consumers defaulting on credit card loans next year, a report by TransUnion Canada says. While the credit rating agency expects Canadians to maintain relatively stable delinquency levels over the next year, it projects the serious delinquency rate for credit cards will rise to 3.63 per cent in the fourth quarter of 2018 from 3.02 per cent this year.

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