National removes retrospective reward program changes - 21 May 2002

Today National Australia Bank said it would maintain the one for one conversion rate for Qantas Frequent Flyer points earned prior to the July 2002 credit card statement cycle.

From July 2002 the conversion rate for new points accrued will be 1.5 National Gold Reward Points to 1 Qantas Frequent Flyer point.

The new offer for National Gold Reward Program customers announced last week included a range of enhancements.

Through an agreement with one of Australia's leading travel agencies, Harvey World Travel, National Gold Rewards Program members can redeem reward points for a complete travel package, including flights, accommodation and car hire.

"The new loyalty program allows members to claim rewards on flights anytime with any airline and get their rewards faster," said George Beatty, General Manager Cards.