Pressure politicians who want to steal your FF points

[Isochronous]

Don't Let Them Pass the Buck to You

An excellent campaign to expose the truth of the farcical RBA interchange fee meddling that will detriment us all. Let's orchestrate a political backlash to kill this policy off and save our FF points!

 

[burmans]

The same group that's trying to remove restrictions on cigarette advertising? Thanks but no thanks.

 

[adam15]

As someone who loves Thailand due to its contrast to our nanny state society, I agree with the premise of this groups argument against plain packaging and alcopop taxes. However, I am suspicious of this group due to their name which could be using the same method that The People's Democratic Republic of Korea uses to convince all that they are obviously democratic. The agendas put forward could easily be a product of industry more than altruism.

 

[Isochronous]

The same group that's trying to remove restrictions on cigarette advertising? Thanks but no thanks.

What do you mean?

 

[Dr Ralph]

The same group that's trying to remove restrictions on cigarette advertising? Thanks but no thanks.

Indeed:

https://www.taxpayers.org.au/

Dodgy as they come.

 

[Isochronous]

So campaigning for lower taxes and less regulation is "dodgy"? Do you work for the ATO?

 

[basso]

An excellent campaign to expose the truth of the farcical RBA interchange fee meddling that will detriment us all. Let's orchestrate a political backlash to kill this policy off and save our FF points!

It's all a radical concept isn;t it. Expecting the consumers that benefit from points etc, to actually be the ones that pay for them!

 

[muppet]

Don't Let Them Pass the Buck to You

An excellent campaign to expose the truth of the farcical RBA interchange fee meddling that will detriment us all. Let's orchestrate a political backlash to kill this policy off and save our FF points!

I disagree with you 100%.

Interchange fees are charged by rent seekers than increase the cost of our goods and services. The frequent flyer points would be a tiny compensation for the outrageous charges imposed on us.

This is like the ApplePay thing where Apple wants 15% of interchange fees for .... wait for it ... oh nothing - for providing a iPhone based version of paywave - nothing new!

These interchange fees are a burden on the economy that provide no service - off with their heads! (the smiley is because I'm happy the RBA is acting - not because my post is insincere)

 

[albyd]

I think at the end of the day, we want a great payments system but we don't want to pay the cost of running it which is reflected through interchange (as not everyone carries an interest bearing balance on their credit card). It's clearly a service to the economy which we all appreciate (especially those of us on AFF using it to pay for less expensive travel). Card payments are not a community service to us from card issuers so it's wrong to demonise interchange.
The interchange reduction will make a marginal difference to prices so much so it yet again won't be passed on by merchants to consumers as lower prices which is the RBA's premise of reducing interchange's "burden" on the economy.
Yes, I am biased, I have benefited from the current system but I think it's important to see the other side of the argument.

 

[JohnK]

These changes could actually benefit me a little as I am one of the few that carries a credit card balance from month to month and subsidises frequent flyer points.

 

[albyd]

Hi JohnK,
Unless I've missed something (I may have) from past experience merchants won't pass on the saving they're making on merchant fees as lower prices.
Banks will continue to charge high interest rates for unsecured debt & need to recover lost merchant fee income.
Not sure how we as consumers of any persuasion will benefit.

 

[Isochronous]

I disagree with you 100%.

Interchange fees are charged by rent seekers than increase the cost of our goods and services. The frequent flyer points would be a tiny compensation for the outrageous charges imposed on us.

This is like the ApplePay thing where Apple wants 15% of interchange fees for .... wait for it ... oh nothing - for providing a iPhone based version of paywave - nothing new!

These interchange fees are a burden on the economy that provide no service - off with their heads! (the smiley is because I'm happy the RBA is acting - not because my post is insincere)

Nonsense. Nobody is forced to pay an interchange fee. Credit card usage is not compulsory.

Besides, the academic economic analysis has debunked the delusion that more regulation will benefit consumers: https://cei.org/sites/default/files/IAEP Report.pdf

 

[burmans]

These changes could actually benefit me a little as I am one of the few that carries a credit card balance from month to month and subsidises frequent flyer points.

I think you mean one of the few on AFF, there are definitely more than a few of these types of customers out there, the banks love them.

 

[ragingsheep]

Nonsense. Nobody is forced to pay an interchange fee. Credit card usage is not compulsory.

Besides, the academic economic analysis has debunked the delusion that more regulation will benefit consumers:

Paid for research funded by the Australian Tax Payers Alliance - I'd read it with a shovel load of salt.

 

[Supersonic Swinger]

Nonsense. Nobody is forced to pay an interchange fee. Credit card usage is not compulsory.

Besides, the academic economic analysis has debunked the delusion that more regulation will benefit consumers: https://cei.org/sites/default/files/IAEP Report.pdf

Well if businesses don't pass on the savings, the profits will pass to them, which most people will to a certain extent benefit from at least as shareholders via their super funds.

 

[Isochronous]

Paid for research funded by the Australian Tax Payers Alliance - I'd read it with a shovel load of salt.

You mustn't be able to disprove any of the substantive analysis in the report then, since all you've offered is a foul-mouthed ad hominem response.

When you do your tax return each year, do you add an extra donation to the ATO on top of what they tell you to pay?

 

[ragingsheep]

since all you've offered is a foul-mouthed ad hominem response.

lol - that's a bit much isn't it?

All I'm saying is not to take everything at face value.

Kinda like when you read a research paper about how plain packaging rules for cigarettes don't work and then you find out that the authors work for an organisation that's funded by BAT and Philip Morris.

 

[burmans]

lol - that's a bit much isn't it?

All I'm saying is not to take everything at face value.

Kinda like when you read a research paper about how plain packaging rules for cigarettes don't work and then you find out that the authors work for an organisation that's funded by BAT and Philip Morris.

Yep, that's the one.