The Canadian credit market has a new member.
Generation Z, the cohort born between 1995 and 2010, is officially shaping the future of the credit market. TransUnion Canada reported that 63% of Gen Z is credit active — 1.8 million Canadians.
While some myths abound about the youngest demographic — such as that they are subprime or carry bad credit habits — TransUnion found the opposite to be true.
In fact, as they become more credit active, Gen Z is maintaining good credit habits and the majority are near-prime or prime.
On the Purview blog, we are breaking down Generation Z credit trends, including the most popular credit products and the fastest-growing ones.
Dig into the insights: https://www.purview.ca/credit-habits-of-generation-z/