Login or request a free trial

NAB tidies up credit card policies

National Australia Bank will adapt its pricing model for credit cards to conform to the announced policy of the Labor government.NAB will, from next year, apply payments against the highest rate items financed under a bank credit card. The bank will also apply the usual rate of interest, rather than the cash advance rate on cards. The bank announced the changes yesterday.The changes apply from 14 January 2011.NAB made a point, in its media release, of noting that the changes to credit cards announced yesterday were in line with ALP policy proposals.The bank made no mention of Green policy proposals for banking, including a fixed margin on home loans, regular reviews of mortgage pricing in line with the cost of funds, and elimination of ATM fees.

I'm a returning subscriber

Password reset
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day