'Give us discounts', Aussies urge
Consumers would rather have discounts than rewards with their credit cards as many attempt to tighten their belts in difficult times.
Jessica Irvine, money expert at the Sydney Morning Herald, has claimed that many Australians are opting for credit cards that offer no annual fees or money off on items like groceries or petrol.
Indeed, pollsters Researchers International have found that the nationwide love affair with the rewards scheme is beginning to wane as people look to trim their monthly budgets.
“Five years ago it was all about getting frequent flyer points on your credit card. Now, it’s about everyday spending, racking up those points to gain discounts on food and petrol,” said Jonathan Sinton, who helped put the study together.
Elsewhere, retail giant and recent entrant to the credit card market Woolies has announced that many Australians are spending cautiously because of fears that their finances are going to be stretched further.