NAB may link Velocity to Fly Buys

National Australia Bank’s Australian regional CEO Ahmed Fahour ruled out competing against other banks in the credit card segment on the basis of price, as it reduced margins and attracted high-risk customers. Fahour said “We are expecting some really good traction” from the Visa and American Express credit cards linked to Virgin Blue’s new frequent flyer program. NAB may link the card linked to the FlyBuys scheme allowing card holders to build points through Coles Myer stores.

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