Wednesday, 30 November 2005

National Australia Bank customers will be able to fly straight away with the newly launched Velocity NAB Credit Cards.

The new Velocity NAB Credit Cards provide customers with the opportunity to earn Velocity Points on every day purchases and have no annual card fee for the first year, no points cap, a special balance transfer rate of 3.99% p.a. for up to 6 months and up to 44 days interest free on purchases.

Plus, if customers apply and are approved for a Velocity NAB Credit Card by 31 January 2006, they'll be off to a flying start with 5,000 Velocity Points.

"With flights starting from as little as 4,600 points that's a flight straight away," said Andrew Maitland, NAB's General Manager Cards and Personal Loans.

No other credit card enables customers to earn points for Virgin Blue's new loyalty program, Velocity. Velocity offers customers any seat redemption*, no black out periods and free online enrolment.

In addition, based on an average annual credit card spend of $13,104 put on a new Velocity NAB Credit Card, customers could earn enough points to fly to one of the following destinations - without increasing their everyday credit card use.

 

Destinations with Virgin Blue	Points from	Velocity NAB Gold American Express Card	Velocity NAB Visa Card
Melbourne - Launceston	4,600	Yes	Yes
Brisbane - Newcastle	4,600	Yes	Yes
Melbourne - Newcastle	4,600	Yes	Yes
Sydney - Canberra	4,700	Yes	Yes
Canberra - Gold Coast	6,000	Yes	Yes
Newcastle - Gold Coast	6,100	Yes	Yes
Sydney - Gold Coast	6,100	Yes	Yes
Sydney - Ballina Byron	6,100	Yes	Yes
Hobart - Adelaide	6,100	Yes	Yes
Adelaide - Melbourne	6,500	Yes	Yes
Brisbane - Sydney	6,900	Yes	No
Sydney - Melbourne	7,000	Yes	No
Brisbane - Hamilton Island	7,000	Yes	No
Adelaide - Ballina Byron	11,700	Yes	No
Hobart - Sunshine Coast	12,100	Yes	No
Perth - Broome	12,300	Yes	No

Note:  Points for redeemed flights based on redeeming an "R"class Virgin Blue fare.  Flights are one way.                                           

"So get flying straight away with a Velocity NAB Credit Card, and there's no need to spend any more than you normally would," said Mr Maitland.

For more information, or to apply for your Velocity NAB Credit Card visit nab.com.au/velocity, your local NAB Branch or call the NAB's Customer Contact Centre on  13 24 64 between 8am and 8pm EST,  seven days a week.

NOTE FOR EDITORS: 

An average of $13,104 was spent in retail purchases per credit card or charge account in the 12 months from Sept 04 to Sept 05, Reserve Bank of Australia, http://www.rba.gov.au/Statistics/Bulletin/C01hist.xls

The Velocity NAB Credit Cards offer different earn rates:
Velocity NAB Visa Card: one point for every two dollars spent
Velocity NAB Gold American Express® Card: one point for every dollar spent

Australians don't need to change their spending habits to benefit with Velocity.  According to the Australian Bureau of Statistics, Australian households spend $45,916 per year on everyday goods and services, including food, rent payments or a mortgage, power bills, gas bills and telephone costs. This includes $1,347 every year on holiday air fares. Australian Bureau of Statistics: 2003-04 Household Expenditure Survey; catalogue number 6530.0; released Thursday 11 August, 2005.  ABS data used with permission from the Australian Bureau of Statistics.  www.abs.gov.au

Velocity Members also earn six points per dollar spent on airfares on Virgin Blue.  If customers spend their average household expenditure on holiday airfares with Virgin Blue that's an additional 8,082 points - an additional flight.

* Any seat redemption is applicable for Virgin Blue, Pacific Blue and Polynesian Blue and is subject to availability.  Different conditions apply for Virgin Atlantic and Emirates.

- ENDS -

Please refer to following page for Velocity NAB Credit Cards Key Facts.

For more information please contact:
Mikala Sabin
Corporate Affairs Manager, National Australia Bank
Tel. (03) 8634 1572 or Mob. 0404 863 976
Email mikala_sabin@nab.com.au

The Velocity program is operated by Velocity Rewards Pty Ltd as trustee of the Loyalty Trust. Membership is governed by the Member terms and conditions, as amended from time to time.

Velocity NAB Credit Cards Key Facts

Velocity NAB Gold American Express® Card

Key features:
- apply and be approved for a Velocity NAB 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 NAB Visa Card

Key features:
- apply and be approved for a Velocity NAB 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.

* The information contained in this media release is for media advice purposes only. The contents are true and correct at time of publishing/issuing, however may change over time. For further information about NAB products or rates, please go to Interest Rates, Fees & Charges