The National Australia Bank (NAB) has declared about a restructure to its credit card repayment system where high interest rates will be paid before lower interest items.

After announcing the restructure in credit card repayment the executive of the personal banking group of NAB, Lisa Gray has said that it is a normal thing in the banking industry to accept credit card repayments for debts with lower interest rates first and leaving the higher interest balance to attract charges.

She also said it would not be for a long time for the customers of NAB. This move has been taken to reduce the overall interest cost to the customers. This move also expected to make the people of Australia looking to compare the credit cards with a view to switch in to cheaper option.

According to the NAB, this change will save money for at least 1.5 million commercial and personal customers.

Experts have described this change in credit card repayment system by NAB as a money spinning move which is used to be taken for the benefit of the bank and customers together.