Canada Bankcard Industry Benchmarking Trends: Q1 2026

As we close out the first quarter of 2026, the Canadian credit card landscape continues to show resilience, with all delinquency rates remaining stable and average spend increasing to $1,786 in April — a healthy 2.5% year-over-year increase from April 2025. 

However, a closer look reveals a few trends that merit attention: the payments-to-balance rate has eased to 47.70% from a peak of 53.02% in early 2025, while average balances have gradually climbed 5.1% year-over-year to $3,356. While there is no immediate concern, together they suggest consumers are slowly carrying more debt and paying it down at a more modest pace — trends that are worth keeping a close eye on as we head into the latter half of 2026. 

 Key Trend Indicators Canadian Cards – end of April 2026 

Highlights of Canada Card Data Patterns 

Spending is recovering but remains under pressure 

Average credit card spend shows a clear seasonal pattern — peaking around December and dipping in March, reflecting the typical post-holiday pullback. The April 2026 figure of $1,786 is up 2.5% year-over-year, suggests reasonable spending growth relative to the increase to cost-of-living (CPI increase to 2.8% year over year in April 2026 Source: statscan.gc.ca). 

Balances are growing steadily 

Average card balances have climbed from $3,171 in March 2024 to $3,356 in April 2026 — a 5.1% year-over-year increase and a 5.9% increase over the last two years. This suggests consumers are increasingly carrying more debt, which may reflect the ongoing cost-of-living pressures or a greater reliance on credit for everyday expenses. 

Repayment rates are slipping 

The percentage of payments to balance has declined from a peak of around 53% in late 2024 to 47.7% in April 2026, which is a notable drop of 1.7 points year-over-year. This is a meaningful signal that consumers are paying down a smaller share of their balances each month — consistent with the rising balances trend above. 

Delinquency is relatively stable, but worth watching 

Accounts with one missed payment sit at 5.50% in April 2026, flat year-over-year. Two and three missed payment rates are similarly stable at 0.91% and 0.44%, respectively. While not alarming, these figures should be monitored closely given the deterioration in repayment rates. 

Credit limits are expanding 

Average credit limits have grown 5.9% year-over-year to $10,875, which could reflect lenders proactively increasing limits or consumer demand for more credit availability. This may also be contributing to the higher balances being carried. 

Cash usage is ticking up  

Cash utilization is ticking up slightly by 0.8% for the accounts that are using cash, but overall accounts using cash limits has decreased by 0.5%. 

Overall takeaway: The data paints a picture of a Canadian credit card consumer who is spending modestly more, carrying higher balances, and paying them down less aggressively. Delinquency hasn't materially worsened, but the combination of rising balances and falling repayment rates suggests that credit risk could build if economic conditions don't improve.