Dicky99 wrote:
So an insurance premium where the cost correlates with the value of purchases transacted.
Well not really it's a really a 'tax' on the poor and the debt ridden. They will be the ones paying the mega monthly credit card interest rates on their CC debts, onto which the bad debts of their fellow consumers and insolvencies of merchants are dumped.
The richer who are using a CC for some ultra high value transactions merely for the protection it gives and anyway faithfully pay off their credit card in full each month are paying nothing for any insurance protection factor that the use of the CC is providing.
Anyway I thought there was going to be a review to scrap section 75 protections and replace it with "something" mostly likely something less good from the consumer's point of view.
