There are two finance stories that I’m following with one eye in the news.
One, the deal that is allowing retailers to charge customers fees for paying by credit card. As if it’s not bad enough I can’t pay my utility bills by Visa without either giving them access to my card, or paying a nasty convenience fee.
Don’t start on me with the arguments about how CC users have been subsidised by cash payers, and how the fees are totally warranted. I get it. I can’t even really disagree, except to bitch and moan about how it’s going to be darn near impossible to to rack up rewards points from now on if this carries on.
I personally haven’t encountered any gas stations who are charging the extra fee, but surely it’s only a matter of time now that they have free rein. (And it’s REIN in this instance, people, not REIGN. Always gets my nerve up when the phrase is misused. Think horses, not monarchy.)
Two, speculation about the official cash rate – will it go up, or hold steady? Apparently low inflation may convince the Reserve Bank to leave the rate as is. But you know what? I was at Lincoln Rd Pak n Save this week – probably the cheapest supermarket in Auckland – and milk was back up to height-of-the-recession prices. Psssh.
Anyway, PLEASE hurry up and crank those rates right up. I need to start making some better interest on my savings accounts. Much appreciated.