The HUGE Change To Your Credit Card That Will Save You HEAPS
Aussie families are about find goods and services a little bit cheaper from Thursday.
A ban on excessive surcharging on credit cards is coming into place.
The legislation was passed in February and means that large businesses that charge fees on cards could face substancial penalties.
Smaller business will have 12 months to begin implementing the changes.
Qantas and Virgin Australia have already indicated they will be ridding the charges immediately.
It means that a Qantas $100 domestic flight, which used to attract a 7% surcharge ($7) will now only attract a card fee of 1.3% or $1.30.
“Consumers are entitled to a fair deal. That’s why the Turnbull government took action to ensure customers aren’t charged more than they should be,” Treasurer Scott Morrison said in a statement on Sunday.
Sports fans and concert goers will also benefit, with major ticketing firms also being subject to the ban.