Canadian credit card stats

By   |   Verified by David Boyd   |   Updated 5 Aug 2022

With more than 76 million credit cards in use in Canada, it’s fair to say Canadians love their cards.

These are some of the key Canadian credit card stats and facts.

Do consumers like using credit cards?

Consumer sentiment

A study of 100 randomly-selected high-volume credit card-related search keywords from April 2019 to April 2022 carried out by Finty revealed a strong post-pandemic rebound in searches for credit cards.

Biggest gainers

KeywordApril 2019April 2020April 2021April 20222022 v 2021
best aeroplan credit card1114244299217986%
best credit card for travel points792280168114085%
air canada credit card1775299331174881%
best travel credit card canada737516091836746575%
rbc credit card activation32521222585674%
neo credit card4141509535572%
aeroplan credit card29188471945621769%
best travel credit card1776429398126469%
west jet credit card2833457632180765%
westjet credit card868320552124603365%

Biggest losers

KeywordApril 2019April 2020April 2021April 20222022 v 2021
rbc secured credit card69413671044815-28%
best buy credit card3960479018701459-28%
easiest credit card to get canada179147855662-29%
triangle credit card2863365435622756-29%
crypto credit card409417011173-45%
mbna amazon credit card439917901205-49%
amazon credit card canada1801151031321673-87%
the bay credit card483952985727689-731%
hudson bay credit card1225415043221771206-1739%
hudsons bay credit card363348225482282-1844%

Key takeaways from the study

  • Keywords related to travel and rewards are back to pre-pandemic levels — or very close — with significant growth year-on-year.
  • There were 75% more searches for ‘best travel credit card canada’. Searches for ‘best aeroplan credit card’ surged 7x in 2022 compared to 2021.
  • General credit card research and comparison keywords are up 21% year on year.
  • Money saving keywords increased by 20-30% compared to 2021, which may indicate that consumers are looking for ways to combat the rising cost of living.

Search keyword data retrieved from Ahrefs in July 2022. Complete search keyword data is available here.