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Just witnessed someone on $26k p.a. causal income approved for rewards card with >20% interest rate and $6k credit limit, clearly banks do not care.

Drug dealer can also say " I am not responsible for other peoples poor choices"... You are right that points earned by spend are mostly paid for by either merchants or customers but I think the core business model of CCs is waiting for a prey to fall into a debt trap, helped with some baiting...

If it wasn't a trap the rate would not be 20%. I never understood why the CC interest rate is fixed at around 20% for all reward cards even at times when we had close to zero RBA rates. Don't you feel bad that your business class award flights are paid for by people on poverty line or people...

Heard this on the news, it amazed me. There's $18.4 billion credit card debt in Australia accruing interest (Australian Credit Card and Debit Card Statistics 2023). Let's say the average interest rate is 20%, that is $3.6 billion per year that banks are pocketing on poor suckers who fell into...

This whole saga is such a disgrace for the government and Qantas. QF is not even a competitor to QR to Europe - not at all, for example I have family in central Europe I need to fly to Vienna, my only options from MEL with a single stopover are Emirates and Qatar. Most people flying to...