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Really interested to know what reaction do RBA have now and what do they really feel? Like chopping off thier head by the banks which has got away from the changes and still trying to make extra gains from the consumer!
What do the conusmer get after the RBA introduced the changes? More fees from bank! Higher interest Rate! Less reward!
Merchants is now Legally charge extra for customer who use card for payemnt but for cash remain no change then who pocket all the cuts on the interbank fee?
Have to praise the CBA as they are the only one which have tried to create new product launching the Platinum Card bringing the Australian closer to rest of the card's world.
Looking back at National, what a shame and stupid move, asking the current card holder to cut their limit on the existing Visa/mastercard and put it on the Amex which is not being as widely accepted! Even worst, introducing such a fake black Amex card is not going to increase their card base as this card is totally not interested by any of their customer who already hold the Amex Platinum or Black Centurion card, even the gold and Blue cardmember won't border to change with such a high fee charge on the account!
Surley National will ending up to have this program ceased very soon as happened in Canada with some other bank who tried to work with Amex!
God bless National!
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