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RBA regulations could eat your frequent flyer points : Comments
By Fred Roeder, published 25/11/2015The RBA plans to reduce the amount credit card companies are allowed to charge vendors. This may sound like a consumer-friendly proposal, but it will hurt frequent flyers and small business owners.
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There is one way of limiting the charges on them, and that is by the shopping public to use cash only.
Forget the so-called convenience of credit cards - what is convenient about using a card as a temporary substitute for cash? The cost has to be paid ultimately and it doesn't matter in what form.
A marketing benefit may be for smart small retailers to display signs stating a lower discount price for cash, versus the use of a card. This would give a monetary benefit to rival so-called "rewards", and help to reduce the intrusive domination of cards into our shopping.