Treasurer Scott Morrison says consumers are “entitled to a fair deal”. Picture: AAP Image/David Moir

The Turnbull government passed legislation in February that prevents large businesses charging excessive fees on using cards or face substantial penalties, while smaller merchants will have a further 12 months to comply.

“Consumers are entitled to a fair deal. That’s why the Turnbull government took action to ensure customers aren’t charged more than they should be,” Treasurer Scott Morrison said in a statement on Sunday.

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The nation’s overall credit card debt that attracts interest charges has dropped 11 per cent in the past four years — saving consumers more than $700 million — but still sits at $33 billion, while our overall credit card debt has reached a record high of $52.2 billion.

— With Anthony Keane