The company says the 90-day non-mortgage balance delinquency rate was 1.63%, up 14% compared with the third quarter last year.
The increase came as overall consumer debt totalled $2.62 trillion, a 3.4% increase compared with year ago.
Average non-mortgage debt per consumer in the third quarter was $22,321, up $511 from a year ago.
Rebecca Oakes, vice-president, advanced analytics at Equifax Canada, says there were tentative signs of stabilization earlier this year, but the third-quarter data indicated some renewed stress, especially in younger households and homeowners in urban centres.
Oakes added that credit card spending typically rises during the holiday season and that the next few weeks will be a decisive moment for many consumers in Canada.
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consumer debt credit cards delinquencies equifax Canada missed payments non-mortgage debt rebecca oakes The Canadian Press
Last modified: November 26, 2025