NAB Velocity Credit Card

[scibo10]

I was reading in an article in The Australian today which stated

Every dollar spent on travel or using a new National Australia Bank visa card earns six frequent flyer points.

This seems to suggest that there is going to be a 1:6 ratio at play.

This seems a little too good to be true. If it is the case, I will be the first to jump on board and sign up to Velocity.

What are peoples views on this?

[dajop]

I refuse to believe that. $20,000 spend = return flight to Europe. $766 spend = MEL-NTL return. Rubbish!! But I'll be signing up if it's true.

[PaulZ]

Sorry to Destroy the Dream!!!

http://www.national.com.au/About_Us/0,,76275,00.html

Velocity National Gold American Express® Card

Key features:
- apply and be approved for a Velocity National Credit Card by 31 January 2006 and receive 5,000 Velocity Points;
- special balance transfer rate of 3.99%p.a. for up to 6 months;
- earn one point for every dollar spent;
- up to 44 days interest free on purchases;
- no annual card fee for the first year ($150p.a.);
- interest rate of 17.5%p.a.; and
- no cap on your points.


Velocity National Visa Card

Key features:
- apply and be approved for a Velocity National Credit Card by 31 January 2006 and receive 5,000 Velocity Points;
- special balance transfer rate of 3.99%p.a. for up to 6 months;
- earn one point for every two dollars spent;
- up to 44 days interest free on purchases;
- no annual card fee for the first year ($65p.a.);
- interest rate of 18%p.a.; and
- no cap on your points.



Flying high with National Australia Bank and Virgin Blue

Two new National Australia Bank (NAB) credit cards will soon see thousands of Australians taking to the skies with Virgin Blue.

The new Velocity National Visa Card and the Velocity National Gold American Express® Card will give Virgin Blue frequent flyers every day opportunities to earn Velocity Points.

This is an exclusive partnership that begins from November 30th - no other credit card will enable Australians to earn points on Virgin Blue's new loyalty program - Velocity.

Mr Ahmed Fahour, Executive Director and CEO of the NAB's Australian business said: "No other credit cards will offer Velocity Points, so Velocity members will be able to earn points faster by using a Velocity National Credit Card."

"The two new Velocity National Credit Cards are tailored for leisure and business travellers and offer points for everyday purchases. So when you add that to the points you earn flying Virgin Blue it won't take long for a reward."

As a special introductory offer, anyone who applies and is approved for a Velocity National Credit Card by 31 January 2006 will automatically receive 5,000 Velocity Points.

Both cards feature no annual card fee for the first year, no points cap and a special balance transfer rate of 3.99%p.a.

Customers who are interested in the new Velocity National Credit Cards will be able to register their interest from today, at national.com.au/velocity . Information about the Velocity National Credit Cards will be available on this web address from 30 November.