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1 in 4 Canadians Can Only Afford the Minimum Payment on Their Credit Card

  Published August 24, 2026 · Canadian Money Brief A new survey from Equifax Canada puts a hard number on something a lot of us have felt creeping up all year: credit cards are doing more of the heavy lifting in Canadian budgets, and fewer people are paying them off. Of more than 1,500 Canadians surveyed, a quarter said they expect to make only the minimum monthly payment on their credit card, and another 7% think they'll fall behind entirely. That leaves just over half — 56% — who expect to pay their balance in full each month. The survey also found that 40% of respondents are spending more overall than they were a year ago, more than double the 18% who say they're spending less. Nearly 3 in 10 said they're leaning more heavily on credit cards to cover essentials like groceries and utilities, and close to a quarter are dipping into savings to keep up with everyday costs. More than a third have cut back on contributions to savings, investments, or education funds to make ro...
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End of U.S. Duty-Free Rule Sparks Cross-Border Commerce Shake-Up

 

Cal Green, the owner of Ottawa streetwear label Raised by Wolves, says he is pivoting his business toward Canadian customers as the United States eliminates duty free shipping for low-value packages.


Canadian small businesses are bracing for a major blow as the United States ends its long-standing de minimis exemption this Friday, removing duty-free entry for shipments valued under US$800. The change, enacted by executive order, means all goods entering the U.S. will now face applicable duties and require full customs documentation.

For many e-commerce sellers, the exemption was a lifeline—allowing them to compete in the U.S. market without the added costs and delays of formal customs clearance. Now, businesses like Ottawa’s streetwear label Raised by Wolves and vintage retailer The Vintage Crate warn that higher prices, increased paperwork, and slower deliveries could drive away American customers.

Industry experts predict the 35% duty on most goods will hit small-scale Etsy, eBay, and Shopify sellers hardest, while large retailers may absorb the costs more easily. Shipping companies are scrambling to implement systems for pre-paid duties, but uncertainty remains over how smoothly the transition will go.

With U.S. sales making up a significant share of revenue for many Canadian entrepreneurs, some are already pivoting to focus on domestic markets. Others fear the change could force them out of cross-border trade entirely.


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