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There's been a recent change in Australia, the Reserve Bank put a cap on the maximum interchange fee credit card companies can charge in Australia (capped at 0.
by SyneRyder 8y ago
There's been a recent change in Australia, the Reserve Bank put a cap on the maximum interchange fee credit card companies can charge in Australia (capped at 0.8%). As a result, many of the cards that earned the best rewards have been scrapped. I had an AmEx card that was good for earning airline points, the bank cancelled the card after the Reserve Bank ruling.
https://www.smh.com.au/business/banking-and-finance/rba-changes-set-to-cut-credit-cut-frequent-flyer-rewards-20151203-gled44.html https://www.smh.com.au/business/banking-and-finance/rba-chan...