Canadian Credit Market Reflects Positive Momentum

Q3 2021 TransUnion Credit Industry Insights Report (CIIR) was released on Tuesday, showing increased consumer credit activity as the economy reopened.
Canada’s Credit Industry Indicator (CII) rose to 101.7 points, up eight points from Q2 2021 and up 38 points from the lowest point in the pandemic (August 2020 at 63.6).

The CII, which TransUnion launched in July 2021, is a country-specific measure of consumer credit health trends in four categories: demand, supply, consumer behaviour and performance.

Consumer credit activity is heating up as the economy reopens and consumer confidence improves, as the recovery continues, lenders are loosening the tighter risk policies that were put in place during the pandemic, accelerating the supply of credit in the market and emerging for growth to meet consumer demand.


Applications for credit increased 2.2% year-on-year in Q3 2021 returning to pre-pandemic demand levels. This growth was led by the lower-risk prime plus and super prime consumer segments,2 while inquiries for higher-risk prime and below segments decreased.