The NAB Rewards Platinum card is currently offering up to 100,000 bonus NAB Rewards Points (equivalent to 100,000 Flybuys points, 50,000 Velocity Points or 33,000 Asia Miles/KrisFlyer miles) with a minimum spend requirement of $1,000 within 60 days of account opening and 0% p.a. for 12 months on Balance Transfer with a 3% BT fee.
The signup bonus is split into two parts, with the first 80,000 Rewards Points to be received after spending $1,000 or more in the first 60 days from approval and an additional 20,000 Reward Points after the annual fee for the second year is billed on your account.
The card is linked to NAB’s own flexible points program called NAB Rewards and has Velocity, Asia Miles, KrisFlyer, Flybuys and Air NZ Airpoints as transfer partners. We’ll get into the value of these more later in the guide, but it’s great to have another ‘flexible points program’ option in the market for the points collectors, and as an alternative for non-American Express spend too.
NAB Rewards Platinum Card offers bonus points at eligible Grocery Stores, and purchases made online with Webjet via NAB Rewards Store or on Webjet.com.au
In this guide we look at the NAB Platinum Rewards Visa – there are also the higher point-earning NAB Rewards Signature Visa and NAB Rewards Business Visa.
Digging into the details of the NAB Rewards Platinum Visa
The NAB Rewards Platinum Visa is linked to NAB Rewards, so let’s touch on the loyalty program first.
NAB Rewards is a flexible points program, which allows you to earn points in NAB’s own rewards points currency and you can then redeem for merchandise or partner program points by transferring them at a later date.
We love flexible points programs because they let you earn points now, but decide later on the best partner or redemption option for your needs at that time. This reduces lock-in and increases the number of ways you can use your points.
There is a risk that programs like NAB Rewards can devalue too – they are able to change their transfer rates to their partners. But generally, across most banks and bank rewards programs, these changes happen infrequently, and with notice to customers.
NAB Rewards partners with Velocity Frequent Flyer, Cathay Pacific Asia Miles, Singapore Airlines KrisFlyer, Flybuys and Air NZ Airpoints so you can transfer NAB Rewards Points to Velocity at a rate of 1 NAB Rewards Point = 0.5 Velocity Point, to Asia Miles and KrisFlyer at 1 NAB Rewards Point = 0.33 Asia Miles/KrisFlyer miles, to Flybuys at a rate of 1 NAB Rewards Point = 1 Flybuys point or Air NZ Airpoints at 1 NAB Rewards Point = 0.005 Airpoints.
The NAB Rewards Platinum Visa has a standard ongoing annual fee of $195, which is in our opinion reasonable for a card offering insurance benefits and a relatively good points earn rate.
The card should appeal to those who want flexibility in the partners and redemption options offered by the NAB Rewards program, and who need a Visa to be able to ensure they are earning points for as many transactions as possible (outside of spending on an American Express which usually offer higher points earn rates).
Card Details
| Card | NAB Rewards Platinum Visa |
| Loyalty program | NAB Rewards |
| Points earned from spend | 1 Rewards Point per $1 on everyday spend 1.5 Rewards Points per $1 at eligible Grocery Stores 2 Rewards Points with purchases made online with Webjet via NAB Rewards Store or on Webjet.com.au |
| Points Cap | No points cap |
| Overseas transaction fee | 3% of the converted amount |
| Mobile wallet | Apple Pay, Google Pay, Samsung Pay |
| Regular Annual fee | $195 p.a. ongoing |
Earning points with NAB Rewards Platinum Visa
The NAB Rewards Platinum Visa earns 1 NAB Rewards Point on all everyday spend, which can be converted to to 0.5 Velocity Points, 0.33 Asia Miles/KrisFlyer miles, 1 Flybuys point or 0.005 Airpoints.
You can also have your Rewards Points automatically converted to Velocity Points every week through auto-transfer. When you set up an auto-transfer, every 2 NAB Rewards Points will be converted to 1 Velocity Point. The earning and redeeming of Velocity Points are subject to the Velocity membership terms and conditions.
For a mid-tier card, these earning rates are standard for a non-Amex Card. As a sweetener, the Card offers bonus categories, where you can earn 1.5 points per $1 at eligible Grocery stores.
Double Points with Webjet:Â 1 NAB Rewards Point + 1 additional NAB Rewards Point (Bonus Points).
Purchases made online with Webjet via NAB Rewards Store or on Webjet.com.au. Webjet Booking Terms and Conditions apply.
Bonus Points at eligible Grocery stores:Â 1 NAB Rewards Point + 0.5 additional NAB Rewards Points (Bonus Points).
Eligibility for additional points at Grocery stores is determined by a merchant’s Merchant Category Code (MCC). An eligible Grocery store is a merchant whose MCC is designated as 5411 Grocery Stores. NAB is not responsible for designating MCCs and has no control over the same. You’re unable to get points if you use an intermediary platform such as PayPal or a delivery platform such as Uber Eats for these transactions.
And don’t forget that NAB occasionally participates in Velocity’s regular transfer bonus promotions. This can help to boost your points-earning potential.
Effective Frequent Flyer Program Point Earn Rates
| Frequent Flyer Program | Eligible everyday spend | Spend at eligible grocery stores | Eligible spend at Webjet |
|---|---|---|---|
| Velocity Frequent Flyer | 0.5 points / $ | 0.75 points / $ | 1 point / $ |
| Asia Miles | 0.33 miles / $ | 0.5 mile / $ | 0.66 miles / $ |
| KrisFlyer miles | 0.33 miles / $ | 0.5 mile / $ | 0.66 miles / $ |
| Flybuys points | 1 points / $ | 1.5 points / $ | 2 points / $ |
| Air NZ Airpoints | 0.005 points / $ | 0.0075 points / $ | 0.010 points / $ |
There are no points caps applied to any of the NAB Rewards cards too.
NAB Rewards Points bonuses groceries
Eligibility for additional points at Grocery stores is determined by a merchant’s Merchant Category Code (MCC). An eligible Grocery store is a merchant whose MCC is designated as 5411 Grocery Stores. NAB is not responsible for designating MCCs and has no control over the same. You’re unable to get points if you use an intermediary platform such as PayPal or a delivery platform such as Uber Eats for these transactions.
Offer eligibility for existing cardholders
NAB has confirmed that any existing customers on a NAB direct-earn Qantas card, such as the NAB Qantas Rewards Signature and NAB Qantas Rewards Platinum, are eligible for this offer, subject to meeting the offer requirements.
The bonus points offer is not available to existing customers who have received or are entitled to receive NAB Rewards Bonus Points for a new personal NAB Rewards credit card or NAB Home Loan in the 18 months prior to the opening of a NAB Rewards Signature Card or NAB Rewards Platinum Card.Â
If you have questions or concerns about your specific circumstances as an existing NAB cardholder, you should contact NAB directly to discuss and check your eligibility.
Apple Pay + Google Pay support with NAB
NAB cards support Apple Pay, Google Pay & Samsung Pay, meaning you can use their cards on your smartphone for easier payments. Find out more in our guides for each of the compatible services.
Summing up: NAB Rewards Platinum Visa
It’s worth remembering that NAB Rewards Platinum is a Visa offering only, which means lower points earned on spend, but wider acceptance with lower or no surcharges from retailers.
For those looking for a mid-tier that earns Velocity Points at a competitive rate, this card may appeal to you. Especially given that there are a number of bonus spend categories that can further boost your Velocity Points earning potential.
NAB Rewards could also be included in Velocity’s regular transfer bonus promotions to temporarily bump up the value of your NAB Rewards Points.
Flybuys being a transfer partner offers you more flexibility by giving you the option to boost your Flybuys balance and take advantage of their extensive rewards catalogue, or use them to get money off at Coles and other partners.
The inclusion of Asia Miles and KrisFlyer miles as transfer partners is also a win – both these programs offer some excellent value redemptions for long-haul travel on Cathay Pacific, Qantas and other oneworld airlines for Asia Miles and on Singapore Airlines, Air New Zealand and other Star Alliance members for KrisFlyer. It’s a shame that the effective points earn rate for both these programs are reduced compared to Velocity.
All up, the NAB Rewards Platinum Visa has a reasonable annual fee, reasonable points earn rates, and the appeal of a flexible points program for the reasons outlined above. It is likely to be worth considering for those who need to put spend on a Visa that earns ‘flexible’ points and who are also interested in non-frequent flyer program redemption options such as gift cards or exclusive AFL merchandise or experiences.
* TERMS AND CONDITIONS
NAB Rewards Platinum Card — 100K Bonus Points Offer
Offer commenced 1 November 2023. To be eligible for the 100,000 bonus points offer, you must apply for a new personal NAB Rewards Platinum Card before the offer is withdrawn, be approved, and spend $1,000 on everyday purchases within 60 days of opening your account on your NAB Rewards Platinum Card. Points will be awarded on a tiered basis – 80,000 bonus points when you spend $1,000 on everyday purchases in the first 60 days (credited to your points balance within three months of meeting the spend criteria) and 20,000 bonus points after 12 months (credited to your points balance within the 13th month). NAB may vary or end this offer at any time.
The reduced annual card fee of $45 will be charged at the time of card opening and applies for the first 12 months. You will be charged the standard annual card fee (currently $195) in the 13th month of your card account and annually thereafter.
Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purposes. Points will be credited to your points balance within three months of meeting the spend criteria. This bonus points offer is not available to existing customers who have received or are entitled to receive NAB Rewards Bonus Points for a new personal NAB Rewards credit card or NAB Home Loan in the 18 months prior to the opening of a NAB Rewards Signature Card or NAB Rewards Platinum Card. Offers are not available when closing or transferring from another NAB credit card account or in conjunction with any other NAB credit card offer. Gift Card values correct as at 1 November 2023. Points values and stock levels subject to change. Check our reward website.
3 Earning NAB Reward Points
Points are earned and redeemed in accordance with the NAB Rewards Terms and Conditions (PDF, 141KB) available at rewards.nab.com.au. These terms describe the purchases not eligible to earn points. You must have an open and active NAB Rewards credit card account to earn points. Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purposes.
4How does Points Boster work?
Double Points with Webjet: 1 NAB Rewards Point + 1 additional NAB Rewards Point (Bonus Points) on purchases made online with Webjet via NAB Rewards Store or on Webjet.com.au. Webjet Booking Terms and Conditions apply.
Bonus points at eligible Grocery stores: 1 NAB Rewards Point + 0.5 additional NAB Rewards Points (Bonus Points)
Eligibility for additional points at Grocery stores is determined by a merchant’s Merchant Category Code (MCC). An eligible Grocery store is a merchant whose MCC is designated as 5411 Grocery Stores. NAB is not responsible for designating MCCs and has no control over the same. You’re unable to get points if you use an intermediary platform such as PayPal or a delivery platform such as Uber Eats for these transactions.
Points Booster is subject to the NAB Rewards Terms and Conditions. Only eligible transactions under those terms and conditions earn points and bonus points. Points are credited to your points balance after the eligible transaction is credited to your NAB Rewards credit card account: for standard points within 10 business days of processing and for Bonus Points within 3 business days of the standard points being processed. Details are correct as at 15 February 2021 and are subject to change by NAB.
5 Balance transfer 12 month offer rate
After 12 months, any unpaid balance transfers will attract the variable cash advance rate (currently 21.74% p.a. as at 30 November 2022). The one-off balance transfer fee of 3% is calculated on the amount transferred and is charged to your NAB credit card account when your balance transfer is processed. Interest rates are subject to change. While you have an outstanding balance transfer, interest free days on purchases only applies if you pay the interest free days payment in full by the due date each month. Minimum monthly repayments must be made by the due date each month. Standard balance transfer rate and term may be varied or withdrawn at any time. In addition to this acquisition rate, which is available only at card application, other balance transfer offers may be available on your card from time to time. You can find out more information about the ongoing balance transfer rates of your card.
To process your balance transfer, we use your non-NAB card number to BPAY the balance transfer request. If your BPAY reference number for your non-NAB card isn’t your credit card number, we won’t be able to complete the balance transfer.
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Credit Card Terms and conditions available. Fees and charges are payable. Approval and credit limit is subject to NAB’s credit assessment criteria. Information, including interest rates and annual card fees subject to change. Correct as at 30 November 2022 and subject to change. Credit cards issued by National Australia Bank Limited. ©2023 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686.
I was just wondering if I’m applying for a credit card, but am getting approved after the offer for bonus points is already finished, am I still getting the points since I applied during the offer?
What happens if i do the minimum spend of $1000 and redeem the 60,000 velocity points and then close the card?
Are they saying to redeem the full 70,000 points you need to stay open for 12 months but you are still ok to close before 12 months and you will still be allowed to redeem the 60,000 points but not the 10,000 bonus points?
The offer with no annual fee for the first year ended on 31st May, current offer have a standard $195 annual fee upon sign up.