Report
Q4 2025 Credit Industry Insights
Canadian Household Debt Reaches $2.6 Trillion as Credit Risk Gap Widens
Q4 2025 Report highlights include:
- Nearly one-in-five Canadians improved their credit score over the past year
- Canadian consumer credit delinquencies remain stable as consumers and lenders adjust to the evolving economic landscape
- Canada’s credit market poised for growth as economic conditions improve, and innovation creates opportunities for expanded credit access
In the fourth quarter of 2025, Canadian household debt reached $2.6 trillion across all credit products. While overall debt grew 4.3%, the number of credit active Canadians (number of Canadians with at least one credit product) increased by only 1.2%. Population growth has not been as strong a driver of balance growth as lower immigration over the past 18 months has reduced demand from new‑to‑credit consumers.
90+ Day Delinquency Rate YoY Changes for All Product Loans*
*Measured in basis points.
Average Consumer Balance, by Product*
*Represents the average balance held by a consumer across each type of product (consumers can have multiple instances of same product).
“We’re seeing credit growth at both ends of the spectrum. While subprime consumers only hold a relatively small share of the overall household debt, their balances are rising, suggesting some households are relying more heavily on credit to manage everyday costs. At the same time, super prime borrowers continue to expand their credit use from a position of strength.”
- Matthew Fabian, Director of Financial Services Research and Consulting at TransUnion Canada
About the TransUnion CIIR Report
TransUnion Canada’s quarterly Credit Industry Insights Report provides in-depth, statistical information drawn from its national consumer credit database (of more than 30 million files profiling nearly every credit-active consumer in Canada). It summarizes data and trends for the national population overall, as well as breakdowns within consumer credit score risk tiers, and provides insights on the Canadian consumer lending industry. By leveraging the Industry Insights Report, institutions across industries can analyze market dynamics throughout an entire business cycle, helping understand consumer behaviour over time. It provides account-level and consumer-level views of key metrics and trends — over the nine most recent quarters — and considers major consumer lending categories: credit cards, personal loans, auto loans, home loans, and lines of credit while also looking at aggregate views of all revolving lines of credit and non-revolving loans.
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