More Canadians are tapping their credit cards for essential purchases as costs climb, but most are still finding ways to make their budgeting work.

Seventy-five per cent have used a credit card to pay for an essential purchase such as groceries or utilities in the past year, up from 74 per cent last year and 69 per cent in 2024, according to a new report by NerdWallet Canada.

That echoes a recent Toronto-Dominion Bank  report that said 70 per cent of its clients’ spending growth comes from groceries and convenience store purchases, up from 40 per cent a year ago.

Despite the increased credit card use, 55 per cent of Canadians told NerdWallet they are paying their credit balance in full every month, up from 51 per cent in 2025.

“Cost-of-living crunch be damned, Canadians are getting better at keeping their card balances in check,” the report said.

Credit card balances, however, still hit a record $131 billion in the fourth quarter of 2025, though missed payments for the quarter rose at a slower-than-expected rate.

“It looks as though consumers have pulled back a little bit in terms of their credit card spending,” Rebecca Oakes, vice-president, advanced analytics at Equifax Canada,

told the Financial Post in February . “That’s good news.” But understanding credit cards remains an issue, with just 45 per cent of Canadians understanding the risks of opening a new credit card, NerdWallet said.

A new credit card may open the door to increased spending or better rewards, but it can also harm your credit score since credit bureaus sometimes view a new application as a sign of desperation or financial hardship.

Still, a new card can be enticing. More than 41 per cent of Canadians say a promotion or sign-up bonus prompted them to choose a new credit card, but 67 per cent said rewards were enticing and 66 per cent liked

no annual fees. “While a time-sensitive or abundantly sized welcome offer can be persuasive, keep an eye on the fine print,” the report said. “A new card is most practical if it fits your long-term financial picture and aligns with your spending habits.”

With files from Serah Louis  Sign up here to get Posthaste delivered straight to your inbox.

Home sales in Toronto’s real estate market witnessed a slight uptick in March, as pricing dips helps prospective buyers off the sidelines.

In all, more than 5,000 homes changed hands in the month, up 1.7 per cent from February, according to the Toronto Regional Real Estate Board (TRREB).

Prices have fallen 6.7 per cent year-over-year, to an average of $1,017,796.

“Buyers continued to benefit from substantial negotiating power on price across major market segments in the last month,” TRREB chief information officer Jason Mercer said in the report. “However, if market conditions continue to tighten, as they did in March, selling prices could start levelling off as we move through the remainder of 2026.”

  • 2:00 p.m.: U.S. Federal Open Market Committee minutes
  • Earnings: Delta Air Lines Inc., Constellation Brands Inc.
  • Canada’s accountant shortage is starting to add up despite quieter tax season
  • Canadian pension plans are so healthy that employers are taking a contribution ‘holiday,’ says Mercer
  • ‘A whole civilization will die tonight’: Trump steps up threats on Iran ahead of deadline
  • Doritos at US$7 a bag ended up costing PepsiCo billions

    Find out more. KqQhHAcv Facing the loss of government disability benefits, Ian, 63, wonders if CPP, OAS and a small inheritance will be enough. Family Finance suggests this critical tool to maximize all his income sources.

    Find out more. Interested in energy? The subscriber-only FP West: Energy Insider newsletter brings you exclusive reporting and in-depth analysis on  one of the country’s most important sectors.

    Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@postmedia.com with your contact info and the gist of your problem and we’ll find some experts to help you out while writing a Family Finance story about it (we’ll keep your name out of it, of course).

    McLister on mortgages

    Sign up here. Want to learn more about mortgages? Mortgage strategist Robert McLister’s

    Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his

    Financial Post on YouTube

    mortgage rate page for Canada’s lowest national mortgage rates, updated daily. Visit the Financial Post’s YouTube channel for interviews with Canada’s leading experts in business, economics, housing, the energy sector and more.

    Today’s Posthaste was written by Ben Cousins with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.

    Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at 

    • High EV prices remain a barrier, pushing curious buyers to consider China
    • Many Canadians could be committing insurance fraud — and don’t even know it

    posthaste@postmedia.com . Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here