Quote:
Originally Posted by pylon
You would be shocked at how well Canadians manage debt. I believe the industry stat is about 2/3's of Canadians pay their credit card bill in full every month. And I don't doubt that stat. As I would say about 2/3's of the credit reports I pull have zero balances on their credit cards.
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Quote:
Originally Posted by jaydorn
I'm actually really surprised to hear it's that good, the "doom & gloom" from places like the Globe & Mail suggest it's much worse than that. But glad to hear some one who's actually checking credit reports regularly is seeing an upside.
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I agree with jaydorn I am surprised if it is that high a number as I heard the same reports about how bad Canadians were about amassing debt.
I would think that you get a pretty biased view of people's finances because you see people a. that can even think about the idea of buying a new car and b. people that can afford to buy a new car.
I think a lot of people with credit card debt wouldn't even think about going to a car dealership.