Getting in with am early pre-emptive salvo.
Who knows? Perhaps someone from NAB may read this - not a zero % probability.
My credentials - Practising lawyer for more than 30 years including 7 years (approx) within the Wesfarmers legal team.
First, we don't know if NAB is looking to abolish the privileges associated with the Citibank Premier Fee Free for Life Credit Card (as it is currently known).
However, there can be little doubt that the Citibank Premier Fee Free for Life Credit Card is a burden for NAB which drains away their resources.
Let's assume for the sake of debate that NAB is looking to abolish the privileges associated with the Citibank Premier Fee Free for Life Credit Card.
If that were the case, then those of us who close or cancel our accounts PLAY INTO NAB'S HANDS.
That is the exact response they want from us - which is to whittle down the number of people that still hold the card.
Better 'natural attrition' from this MyCard 'try on' than nothing at all.
Irrespective of what Citibank's or NAB's terms and conditions may, or may not, state, the Australian Consumer Law is a thing.
Citibank and NAB cannot contract out of the provisions of the Australian Consumer Law.
Citibank made a representation in trade and commerce that the applicable Citibank Credit Card was 'fee free for life'.
Citibank cannot now go back on that representation.
Neither can NAB.
If NAB was allowed to go back on Citibank's representation, there would be simple way to circumvent the provisions of the Australian Consumer Law and all Australian businesses would be on to it in a flash to the detriment of consumers like us.