How are the new credit card charge rules going to affect?

5 replies

emirates777

Member since 08 Mar 2013

Total posts 18

How are the new credit card charge rules going to affect?

emirates777

Member since 08 Mar 2013

Total posts 18

The new rules are said to affect premium credit cards by capping the fees banks received from credit card companies when transactions occurred (from 2% to 0.8%). In particular this will affect American Express cards issued by banks as "companion cards" to Visa and MasterCards. The cap will lower how much revenue the banks receive from interchange fees, especially from the "premium" cards such as Amex companion cards. 

moa999

Qantas - Qantas Frequent Flyer

Member since 02 Jul 2011

Total posts 835

As the interchange fees go down - so does the 'profit' on the cards, which means the points earn is also likely to fall (unfortunately).

Would also expect presure on the airlines to move to %ge fees for ticketing, rather than the current flat fee

Chris Chamberlin

Member since 24 Apr 2012

Total posts 1,114

FYI, AusBT will be publishing a feature story on these interchange fee cuts, likely early next week, and what they mean for cardholders . :)

Phil Young

Qantas

Member since 22 Oct 2012

Total posts 193

The current flat fees on International flights are excellent, especially when booking in a premium cabin.  Those fares will cost us much more when it's changed to a percentage.

hutch

Member since 07 Oct 2012

Total posts 761

You pay the fee!! :-/

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