Growing number of Canadians rely on credit cards to pay for essentials: Survey - BNN Bloomberg

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Growing number of Canadians rely on credit cards to pay for essentials: Survey - BNN Bloomberg
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A growing number of Canadians have turned to their credit cards as a means to cover essential items within the past year, a NerdWallet survey released on Monday revealed.

Seven in 10 Canadians said they have used credit to pay for essentials items, including groceries and utilities, within the past 12 months, the data showed. Alternatively, one in three survey respondents said they have redeemed credit card rewards to pay for mandatory items.

. In April, inflation rose 4.4 per cent annually, according to Statistics. The data was hotter than economists had forecasted.

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