Table of Contents
- Scope and Themes
- Scope of this report
- What you need to know
- Data sources
- Consumer survey data
- Advertising Creative
- Abbreviations and terms
- Abbreviations
- Terms
- Companies mentioned in this report
- Executive Summary
- Industry highlights
- Changing landscape
- Consumer attitudes towards credit cards
- Market Size and Characteristics
- Key points
- Total market size and top players
- Figure 1: Top Canadian credit card issuers ranked by receivables, year
ending April 2008 and April 2009
- Figure 2: Canadian credit card banks, card service revenue, three months
and six months ending April 2008 and April 2009
- Competitive Context -- Banking Overview
- Key points
- Bank regulation in Canada
- Figure 3: Big five Canadian banks, April 2009
- Leading Issuers
- Key points
- CIBC (Canadian Imperial Bank)
- Royal Bank of Canada (RBC)
- Scotiabank
- TD Bank (Toronto-Dominion)
- MBNA Canada Bank
- BMO (Bank of Montreal)
- Desjardins Group (Fédération des Caisses Desjardins du Québec)
- Canadian Tire
- Capital One Bank Canada
- J.P. Morgan Chase Canada
- Citigroup
- American Express
- Canadian Payments Landscape
- Key points
- Figure 4: Credit Card payment rate (percentage of outstanding balance
paid), March 2000 through March 2009
- Interac Association
- Figure 5: Top five countries in debit use, 2007
- Figure 6: Interac Direct Payment transactions, merchants, terminals, C$
value, and users per year, 1997-2008
- Figure 7: Payment method used most among ABM cardholders, 1997-2008
- Credit card share is growing
- Visa vs. MasterCard share
- MasterCard is growing faster but is still well behind
- MasterCard leads in cards and accounts
- Figure 8: Visa vs. Mastercard in Canada, 2008-07
- Figure 9: Credit card statistics, VISA and MasterCard, 1990-2008
- Market Drivers
- Key points
- Figure 10: Credit card delinquency and loss statistics, VISA and
MasterCard, 2004-09
- Economic forecast: Stronger growth expected in Canada
- Strong growth in disposable incomes
- Significant differences between Canada and U.S. housing markets
- Figure 11: Subprime mortgage default rates, U.S. and Canada, 2001-08
- Figure 12: Prime mortgage default rates, U.S. and Canada,1998-2008
- Canadian Population and Immigration Trends
- Key points
- Figure 13: Canadian population, by province, 2004-08
- The Regulatory Environment and Duality
- Key points
- Duality and debit cards
- What' s likely to happen next
- Consumer awareness of credit card duality
- Figure 14: Awareness of ending of duality ban, by gender, June 2009
- Figure 15: Awareness of ending of duality ban, by province, June 2009
- Figure 16: Has recently been offered another card brand, by gender, June
2009
- Figure 17: Has recently been offered another card brand, by income, June
2009
- Figure 18: Has recently been offered another card brand, by race, June
2009
- Credit Card Regulation and Legislation -- Other Developments
- Key points
- Innovations and Innovators
- Capital One' s guaranteed MasterCard for newcomers
- Figure 19: Capital One Guaranteed Mastercard for newcomers direct mail
advertisement, 2009
- Advertising and Promotion
- Key points
- Direct mail volume plunges in first quarter 2009
- New and notable credit card direct mail campaigns
- Figure 20: MBNA direct mail advertisement, 2009
- Figure 21: Scotiabank direct mail advertisement, 2009
- Figure 22: Scotiabank direct mail advertisement, 2008
- Figure 23: Citibank direct mail advertisement, 2009
- Figure 24: CIBC direct mail advertisement, 2008
- Figure 25: CIBC direct mail advertisement, 2009
- Figure 26: American Express direct mail advertisement, 2009
- Television advertising
- Figure 27: RBC television advertisement using Andy Kim celebrity
endorsement, 2009
- Figure 28: RBC small business television advertisement, 2009
- Figure 29: TD Bank television advertisement with Kelly and Regis, 2009
- Figure 30: TD Banknorth television advertisement with Kelly and Regis,
2009
- Figure 31: TD Banknorth television advertisement with Kelly and Regis,
2009
- Figure 32: TD Banknorth television advertisement with Kelly and Regis,
2009
- The Consumer
- Key points
- Miles, points, or cashback?
- Figure 33: Credit card types owned, by gender, June 2009
- Figure 34: Credit card types owned, by age, June 2009
- Figure 35: Credit card types owned, by HH income, June 2009
- Figure 36: Reasons for using credit cards, by gender, June 2009
- Figure 37: Credit card types used, by HH income, June 2009
- Credit, debit, or cash?
- Figure 38: Payment methods used, by gender, June 2009
- Figure 39: Payment methods used, by age, June 2009
- Figure 40: Payment methods used, by HH income, June 2009
- Credit cards preferred for big-ticket items
- Figure 41: Credit card usage preference by category, averages of a 5
point scale where 1=never and 5=always, by gender, June 2009
- Figure 42: Credit card usage preference by category, ranked, by age,
June 2009
- Figure 43: Credit card usage preference by category, by HH income, June
2009
- Canadians are aggressive about paying off balances
- Figure 44: Card payment activity, by gender, June 2009
- Figure 45: Card payment activity, by age, June 2009
- Figure 46: Card payment activity, by HH income, June 2009
- Figure 47: Credit card balances, by gender, June 2009
- Figure 48: Credit card balances, by age, June 2009
- Figure 49: Credit card balances, by HH income, June 2009
- Canadians stick to one or two cards
- Figure 50: Number of cards used each month, by gender, June 2009
- Figure 51: Number of cards used each month, by age, June 2009
- Figure 52: Number of cards used each month, by HH income, June 2009
- Canadians read direct mail, but are leery of e-mail
- Figure 53: Attitudes towards credit card advertising, by gender, June
2009
- Figure 54: Attitudes towards credit card advertising, by age, June 2009
- Figure 55: Credit card mail solicitations received, by gender, June 2009
- Figure 56: Credit card mail solicitations received, by age, June 2009
- Figure 57: Credit card mail solicitations received, by HH income, June
2009
- Building credit is a major influence on choosing a card
- Figure 58: Major influences on credit card choice, by gender, June 2009
- Figure 59: Major influences on credit card choice, by age, June 2009
- Figure 60: Major influences on credit card choice, by HH income, June
2009
- Debit is preferred over credit cards; the internet still worries many
- Figure 61: Opinions about credit cards, by gender, June 2009
- Figure 62: Opinions about credit cards, by age, June 2009
- Figure 63: Opinions about credit cards, by HH income, June 2009
- Recent penalty actions taken by credit card issuers
- Figure 64: Recent actions by credit card issuer, gender, June 2009
- Figure 65: Recent actions by credit card issuer, by age, June 2009
- Figure 66: Recent actions by credit card issuer, by HH income, June 2009
- Figure 67: Recent actions by credit card issuer, by province, June 2009
- Canadians not loyal when it comes to credit cards
- Figure 68: Recent credit card related activities, by gender, June 2009
- Figure 69: Recent credit card related activities, by age, June 2009
- Figure 70: Recent credit card related activities, by HH income, June 2009
- Figure 71: Recent credit card related activities, by province, June 2009
- Recent credit card behavior
- Figure 72: Recent credit card behavior, by gender, June 2009
- Figure 73: Recent credit card behavior, by age, June 2009
- Figure 74: Recent credit card behavior, by HH income, June 2009
- Figure 75: Credit card use compared to one year ago, by gender, June 2009
- Figure 76: Credit card use compared to one year ago, by age, June 2009
- Figure 77: Credit card use compared to one year ago, by province, June
2009
- The Consumer -- Focus on Asian Newcomers
- Key points
- Asians are highly desirable credit card customers
- Figure 78: Opinions about credit cards, by race/ethnicity, June 2009
- Figure 79: Recent credit card behavior, by race/ethnicity, June 2009
- Figure 80: Credit card usage preference, by category, ranked, by
race/ethnicity, June 2009
- Figure 81: Recent actions by credit card issuer, by race/ethnicity, June
2009
- Figure 82: Credit card types used, by race/ethnicity, June 2009
- Figure 83: Major Influences on credit card choice, by race/ethnicity,
June 2009
- Figure 84: Attitudes towards credit card advertising, by race/ethnicity,
June 2009
- Appendix: Trade Associations
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