Chairman of Aussie, Mr John Symond, said “We have launched ‘No Rip Off Day’ to draw the attention of card holders to the fact that there are cheaper cards in the market which could save them thousands of dollars in interest payments. If consumers haven’t already switched to a low rate card we urge them to mark the day by cutting up their high rate cards for good.”
Edited to link directly to site -Neil
Obviously no one wants to be in debt. I don't think this card is necessarily encouraging people to build debt, but an opportunity for those who are struggling to not have to pay massive amounts of interest. Anyway, I don't think 10% interest is really a huge incentive to keep debt as it really isn't a negligible amount.
Best way not to get ripped off by the bank/financial institution is NOT being indebted to them, especially high interests ones like credit card. For those with a mortgage, an offset account would probably cost less.
A 10% interest is lower than most but everyone should be advise to pay your bills in full to avoid being charged for interest.
I reckon this post will be voted down soon.