The Reserve Bank of Australia is considering further regulation of credit cards to make you - the consumer - pay more.
The RBA's actions will pass the buck to you - pushing down the fees that big businesses and banks pay (called ‘interchange’ fees) and making them come after you for the difference.
If bureaucrats get their way, we could see:
- Higher annual credit card fees
- Higher interest rates
- Shorter interest-free periods
- Frequent flyer and reward point programs being slashed
- Community-owned banks, credit union and building societies being unable to offer low-cost credit cards, stifling competition
Don’t let them pass the buck to you. Let your representatives in Parliament know that these regulation changes must be stopped.
Don't let them pass the buck to us! Take action and contact your representatives today: