Diners club cards will soon cease to exist as NAB announces the death of the card that was once the world’s first multipurpose charge card.
NAB will be closing Diners Club cards in Australia, less than two years after it bought the brand from US owned Citigroup.
“As of 15 April 2024, Diners Club will no longer offer Diners Club (corporate and business) cards issued in Australia,” the company said in a statement posted on its website.
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Customers were told their account will automatically close on April 15 for corporate and business cards and July 30 for personal cards, unless accounts were “closed earlier at your request”.
Created in 1950 by American businessman Frank McNamara, who famously came up with the idea after forgetting his wallet while dining out at a New York City restaurant.
The card was officially launched in Australia in 1956.
The company said that while the closure of the card will officially be July 30, reward points and reward claims made up to April 15 will be honoured up to November 30.
The Reserve Bank of Australia said in 2022 that the costs of accepting Diners Club cards had “declined significantly over the past decade”; however, they still remained one of the most expensive networks, along with American Express.