People living in Alberta cities have more consumer debt than others in Canada

Credit rating agency Equifax Canada says average consumer debt increased 2.7 per cent to reach $72,950 at the end of 2019 as the pace of non-mortgage debt slowed.

Non-mortgage debt — which includes credit cards, loans and lines of credit — edged up one per cent to $23,800, largely due to lower use of lines of credit.

A report by Equifax found that those living in Alberta’s major cities carry more consumer debt (excluding mortgages) than anywhere else in Canada.

Data from Equifax’s fourth quarter of 2019 shows people in Calgary have an average debt of $29,789 and in Edmonton, it’s $28,350. Up north in Fort McMurray, the average debt in Q4 of 2019 was $39,674.

Over the same time period, the average delinquency rate in Calgary was 1.37 per cent, Edmonton’s rate was 1.6 per cent and Fort McMurray’s was 1.94 per cent.

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