New national research from Affirm shows Canadians rely heavily on credit cards yet struggle to understand how they work, with financial consequences. In a survey of 1,501 adults, only 41% ranked credit card terms among the easiest documents to interpret—far behind medication labels and even tax forms.
Fifty-nine percent said hidden or unexpected fees disrupt their budgeting, while one-third believe credit cards fail to reflect their real financial circumstances. With half of cardholders carrying balances for months, interest charges compound quickly. Affirm argues Canadians want clearer, more predictable tools built on transparency.
Want to know more? Check out the source code on Fintech.ca.