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How are credit cards viewed in Canada. In
the States credit cards are often abused and
seen as a form of free money which they should
NEVER be viewed as but are often seen as
anyway. Bankruptcy is very popular in the
states by both the poor and rich, because
of such misuse. Are Canadians the same?
I can't really talk about what it is like now but I grew up in Toronto and moved away in 1995 to go to college. My parents are American and often said that there was a big difference in the way that Canadians and Americans approach money. For example a large down payment is expected when you buy a home in Canada, when I was a kid I believe it was 30%...not sure if that is still the case. I definitely noticed that when I went to school in the States that everyone had much larger wardrobes than I did and millions of pairs of shoes. They also went out to eat a lot more.
Canada is also very regional, more so than the US and I lived in a heavily Scottish area and the Scots are known for being frugal. It could be different in other parts of the country.
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