TransUnion is dusting off its crystal ball to make its predictions for 2018 and it’s a mixed bag.
With interest rates predicted to rise in the early half of 2018 and a slight cool off in the Canadian economy, credit reporting agency TransUnion is predicting an uptick in credit card default rates. TransUnion projects that the serious delinquency rate for credit cards will rise to 3.63 per cent in the fourth quarter of 2018, up from 3.02 per cent in the same quarter in the previous year.