Triennial credit card penetration in Canada 2011-2024, by demographic
Roughly eight out of 10 Canadians either owned or used a credit card, a figure that stayed relatively consistent throughout the years. This is according to a three-year survey that asked consumers in Canada whether they had such a digital payment method. Noticeable in the most recent edition - in 2021 - is that the youngest age groups saw their credit ownership increase by more than 20 percentage points. This means youth was increasingly catching up to their older counterparts.