Credit card rewards are being slashed as consumers face higher costs

Banks cut credit card rewards, impacting consumers as businesses may pass on costs, warns Brandon Loo from Point Hacks Australia

‘Everyone will lose out as well because the businesses are going to roll the increase into the price.’

Brandon Loo from Point Hacks Australia warns that banks are slashing credit card rewards before new reforms.

ANZ and NAB have already reduced sign-up bonuses and earn rates, impacting many cardholders.

Businesses may pass on increased costs to consumers, affecting both cash and card payments.

Mass card switching is expected as consumers seek better deals in the changing landscape.

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