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The Guardian - AU
The Guardian - AU
National
Luca Ittimani

The RBA wants to ban debit and credit card surcharges. Banks are fighting back

A pile of credit cards
The RBA wants to change the system so that debit card users are no longer subsidising credit card users. Photograph: Stephanie Flack/AAP

Banks have threatened to increase credit card fees and make it harder to earn rewards if the Reserve Bank of Australia’s proposal to ban card surcharges goes ahead.

Is this the end of credit cards, which are already being used less frequently? And what will become of loyalty programs?

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