MAN reaps 380,000 frequent flyer points for just $70. But if you're thinking about doing it too, you can't. NAB has shut down the loophole.

In January, the National Australia Bank offered 100 additional frequent flyer points for each purchase made on an NAB Qantas credit card. The problem was it didn't say how much you had to spend on each purchase.

According to BRW, Anthony Agius spotted the loophole and jumped on it. He made 7000 purchases of one cent each, mostly to CityLink - Melbourne's toll road operator.

"CityLink did call me, but they were mainly concerned with the fact my credit card may have been stolen, or that their billing system went crazy," Agius told BRW. "Once I told them I was doing it on purpose to get points, they were relieved and didn't say anything after that."

NAB was not happy. On January 15 it wrote to Mr Agius saying it would not honour any one cent transactions he made between January 6 and 9.

"It was NAB's intention that 'eligible purchases' would be the usual everyday purchases however there was no minimum spend noted in the letter of offer and I'm sorry if this has caused any misunderstanding," the bank's case manager wrote.

Still Mr Agius gets to keep the points that he did manage to obtain before NAB noticed.

"I have used some of the points for a few domestic trips, but plan to book two business class round-the-world tickets eventually," he told BRW.

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