Credit card merchant fee changes - what to expect?

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Hi,

With the legislated changes coming in limiting merchant fees for credit cards, do you believe this will cause a whole raft of changes after that date (01/09/2017 as I recall) or do you believe the changes have already been made to rewards.

Thanks and Regards
Mike Bos

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Good Response
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Your guess is as good as mine. A number of card providers have already made changes including ANZ, CBA, Citi, BankWest, Virgin cards, Jetstar and hsbc. Other providers are more than likely to change. The quantum of change of course is not known.

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CitiBusiness Visa provided 1.25pnts/$ till last year, then a 1:1 exchange with Qantas, now they are 2:1 ie. 0.625pnts/$.

I see BankAus, Woolies and G&C Mutual doing Visa 1:1 unlimited, which I would be happy with if I knew they would not change otherwise it’s not worth the credit rating applications floating around.

Any opinions or gossip of better or worse in the pipeline.

Thanks

Mike

  • And what is the point of “gossip”. I don’t think this site is about unfounded gossip and misrepresenting unannounced decisions of card providers

    I suggest this post be closed by an admin as the potential for misinformation to be posted here and it is not constructive

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