We notice you are visiting from a U.S. Internet provider. 
12/09/2009 -
Canadian consumers found themselves with less credit card debt in July, according to the latest Credit Card Quality Index (CCQI) from Standard & Poor's.The CCQI, which tracks the performance of $20.6 billion in credit card receivables from five major Canadian trusts, fell 10 basis points to 5.9 percent in July.
The U.S. CCQI fell by an even larger amount, dropping 60 points to 9.8 percent in July, down from June's historic high of 10.4 percent.
The index measures credit card losses such as default rates, so its drop indicates that fewer consumers are defaulting on their credit card loans.
Although analysts do not expect the index to continue declining - the CCQI is typically tied to the unemployment rate, which economists believe has not yet hit its peak - the consequences for improved consumer finances may result in increased credit card spending in the coming months.
To make sure that they make the most of this potential for increased credit card spending, Canadian businesses are encouraged to ensure that their payment processing services - including PCI compliance and POS technology - is as up-to-date as possible.
