Cost of Living·Audio

Credit card user? You could soon pay more for every purchase

Every time you use a credit card an interchange fee is charged. Starting this week, the rules around those fees will change, and consumers could start paying more. Plus, we look at the strategy behind restaurants' not-so-secret menus and, the youngest dragon from Dragon's Den joins us for a chat.

The Cost of Living for October 2, 2022

Credits card users ⁠— especially those who use cards more frequently for things like points and rewards ⁠— will like notice a new fee being charged for every purchase starting this week. (Antonio Diaz/stock.adobe.com)
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Would you like more fees with that?

Starting October 6, 2022 merchants will be allowed to charge customers a fee for paying by credit card.

Every time you tap, retailers pay an interchange fee to This change would allow retailers to cover the thousands of dollars they pay every month to financial institutions in interchange fees — 

Financial institutions  retailers interchange fees to   cost retailers thousands of dollars every month, and some businesses (hello, Telus!) say they're tired of eating the cost for our fancy pants points credit cards.

Tracy Johnson and Paul Haavardsrud explain how the change is just one more way we're all going to pay.

The marketing secrets of secret menus

Ever order a McBrunch? Or a Butterbeer Frappuccino from Starbucks? How about a T-Rex (nine patties of horror!) from Wendy's?

Danielle Nerman explores the rise of the secret menu and why fast food restaurants — in particular — are lovin' it.

The high wire act of being an entrepreneur

Michele Romanow started her first company when she was a university student. By her late twenties, she was investing in other people's companies.

Today, she's the co-founder of Clearco and the youngest dragon in the den (on Dragons' Den). Michele talks to Paul about the terrifying business of starting a company, and offers some advice for anyone interested in giving it a try.
 

Subscribe to the Cost of Living podcast or download the CBC Listen app to hear the whole show.

 

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