There’s a renewed warning for Canberrans about falling into a so-called “Loyalty Tax”.

A loyalty tax is also known as a “sucker price”.

That is, you sign up for continuing a service at what appears to be the right low price.. but the cost goes up over the years… and people go along with it because it’s easier to manage.

That’s where consumer advocates are reminding Canberrans – take a few minutes to shop around before going along with an insurance renewal or an interest plan.. it could save you hundreds.

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