Amid soaring living costs, a growing unemployment rate, and economic uncertainty in Canada, more people have fallen behind on credit card payments this year. People have also been more prudent with their spending — the average Canadian's monthly credit card spend dropped by $107, the lowest since March 2022. Despite Canadians' efforts to control their spending, many are still missing credit card payments. The number of Canadians paying their credit card dropped to 52.9 per cent (down 32 basis points, or 0.32 per cent). The number of Ontarians who missed credit card payments rose by 24 per cent.