Statistics in Credit for Canadians in something that will always be talked about.You here on the news all the time about the trends in Canadian Credit, increase and decrease in debt, increase in bills, rates of car loans, etc. I am going to be running some statistics on credit and what the real deal is. I am a believer that the stats we are hearing about may be different from the truth. This is going to be real hard to tackle and figure out but we can certainly try and run some stats of our own and give us a good idea of where Canadians are at. Whether applying for a car loans in Canada or applying for a credit card banks will look at averages too see where you sit in the mix of things. I believe that Lenders are looking outside the box more and more when looking to approve a car loan or approve a mortgage, or approve a credit card. I am going to be looking at credit scores, credit quality, and age brackets. This should bring some information to the table to work with moving forward.
Just my 2 Cents