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.
Share of individuals who own a credit card in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level
Entire civilian, noninstitutionalized population; * The data for 2024 is a forecast calculated by Statista; The figures shown are from a global survey held every 3 years. Data for 2021 - the most recent year available - was released in June 2022.
Method of interview
Face-to-face interviews, telephone interviews
Supplementary notes
This question was phrased by the source as follows: "A credit card is a card that allows you to BORROW money in order to make payments or buy things, and you can pay the balance off later. Do you, personally, have a credit card?"
Figures for 2024 are a forecast from Statista. Historical figures were used in a linear trend, to form a simple trend projection. This extrapolation uses the method of least squares.
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Statista. (March 11, 2024). Share of individuals who own a credit card in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level [Graph]. In Statista. Retrieved October 26, 2024, from https://www.statista.com/statistics/1379171/credit-card-ownership-rate-canada/
Statista. "Share of individuals who own a credit card in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level." Chart. March 11, 2024. Statista. Accessed October 26, 2024. https://www.statista.com/statistics/1379171/credit-card-ownership-rate-canada/
Statista. (2024). Share of individuals who own a credit card in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level. Statista. Statista Inc.. Accessed: October 26, 2024. https://www.statista.com/statistics/1379171/credit-card-ownership-rate-canada/
Statista. "Share of Individuals Who Own a Credit Card in Canada in 2011, 2014, 2017 and 2021 with a Forecast for 2024, by Age, Gender, and Income Level." Statista, Statista Inc., 11 Mar 2024, https://www.statista.com/statistics/1379171/credit-card-ownership-rate-canada/
Statista, Share of individuals who own a credit card in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level Statista, https://www.statista.com/statistics/1379171/credit-card-ownership-rate-canada/ (last visited October 26, 2024)
Share of individuals who own a credit card in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level [Graph], Statista, March 11, 2024. [Online]. Available: https://www.statista.com/statistics/1379171/credit-card-ownership-rate-canada/