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Hardening up on credit card rewards

Hardening up on credit card rewards

(Australia) - Australia's National Australia Bank has, with a couple of weeks notice, sliced a third of the value of its credit card customers' frequent flyer points with national airline Qantas. The Bank has informed all 150,000 Gold Rewards credit card members it was diluting the current value of their points and would cost 1.5 points to buy each Qantas frequent flyer point, rather than the present one-for-one arrangement.

ANZ Bank, Commonwealth Bank and Westpac currently continue to offer one-for-one point swaps.
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