Some news that affects your wallet
Quiz
Question
What type of retail businesses have seen the price of their products increase the most since 2021?
Answer
According to Statistics Canada, it’s all about gas stations. The price of products, mainly gasoline, increased by 30.3% between March 2021 and March 2024. Food comes in fourth, with increases of 25.2%. Of the 11 categories, only “electronics and household stores” saw its prices decrease, by 6.6%.
More expensive, the Costco card
PHOTO MARTIN TREMBLAY, LA PRESSE ARCHIVES
As of 1er Next September, the Costco membership card will cost $5 to $10 more, depending on the type of membership.
As of 1er September, becoming a Costco member will cost a little more, the American retail giant announced Wednesday during its financial results presentation. The “Preferred” membership card will increase from $60 to $65, and becoming an “Executive” member will now cost $130 instead of $120. The increase will apply in both the United States and Canada (the price of the membership is the same in both currencies) and will affect some 52 million customers, half of whom are Executive members. Costco has 609 locations in the United States and 108 in Canada.
See Costco’s press release (in English)
Minimum balance at 4.5%
PHOTO ELISE AMENDOLA, ARCHIVES ASSOCIATED PRESS
The minimum monthly payment to be made on a credit card will increase from 4% to 4.5% of the balance on August 1.
The minimum monthly payment to be made on a credit card will increase on 1er next August from 4% to 4.5% of the balance, the Office de la protection du consommateur (OPC) reminded us this week. Thus, a credit card holder whose balance is at $1,000 at the end of the month will have to pay a minimum of $45 rather than $40. Since 2019, the OPC has been on a mission to increase the minimum balance to be paid: it was then set at 2%, which theoretically allowed a consumer to let their debt drag on for 25 years. The minimum was then set at 4%. After the increase next August, another increase in August 2025 will set this rate at 5%.
Read the press release from the Office of Consumer Protection (OPC)
Up to $2,500 from Nissan
PHOTO TORU HANAI, REUTERS ARCHIVES
Facing two class action lawsuits, Nissan has agreed to set up a $1.82 million fund for “unreimbursed damages, losses, costs or expenses arising from the computer intrusion” that allegedly occurred in 2017.
A data breach that occurred in 2017 could earn Nissan owners and lessees up to $2,500 in compensation. This is the culmination of two class actions, in Ontario and Quebec, that were the subject of an agreement with Nissan, approved by the Superior Court of Quebec on June 17. The Japanese automaker, without admitting fault, agreed to set up a fund of $1.82 million for “unreimbursed damages, losses, costs or expenses due to the computer intrusion.” Reimbursement of up to $2,500 is offered upon presentation of invoices, or $35 without documents.
Submit a claim online
Expanded dental care
PHOTO ALAIN ROBERGE, LA PRESSE ARCHIVES
After people aged 65 and over, the Canadian Dental Care Plan (CDCP) has covered children under 18 and holders of a valid Disability Tax Credit certificate since June 27.
The Canadian Dental Care Plan (CDCP) has been significantly expanded over the past two weeks. In addition to those aged 65 and over, since June 27 it has covered children under 18 and holders of a valid Disability Tax Credit certificate. The two main conditions: having an annual family income of less than $90,000 and not having private insurance. Ottawa estimates that 938,000 children and 183,000 adults will be able to join the approximately 2 million seniors already approved. In addition, since July 8, dental care providers no longer have to be registered and can offer their services on a “case-by-case” basis.
Visit the Canadian Dental Care Plan (CDCP) website