Oil Patch Pushes Up Canada’s Credit Card Delinquency Rate

By Tsvetana Paraskova Serious credit card delinquency rates rose by 3.2 percent in Canada last year, mostly due to double-digit rises of those rates in the oil patch provinces—Alberta and Saskatchewan—TransUnion said in its Canada industry report on Wednesday. The delinquency rate 90+ DPD — the ratio of balances 90 or more days past due — for all of Canada was 4.21 percent as of Q4 2016, up from 4.08 percent in Q4 2015. The rise can be attributed to the oil patch provinces, as both Alberta and Saskatchewan saw annual rises of more than 22 percent, while…

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