How the credit card surcharge ban will affect your loyalty points and perks
The upcoming surcharge ban looks like an obvious win for consumers but there’s a catch.
For once, a change to credit cards which looks like an obvious win for consumers.
From October 1, that irritating ‘card surcharge’ line on your coffee receipt (and everything else you buy) disappears.
Great. Except, there’s a catch …
The same reforms that kill the surcharge are also cutting into the money banks make from these card payments. And that money helps fund your credit card rewards, perks and interest-free days.
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