Upcoming personal credit card changes: From 18 April 2024, there are changes to NAB’s personal credit cards and some updates to the terms and conditions. Personal credit card changes | Effective 18 April 2024 – NAB.

The NAB Rewards Platinum card is offering up to 80,000 Velocity Points * (auto-converted from 160,000 NAB Rewards Points) plus a reduced first-year annual fee of $95 (usually $195 p.a.) There is a minimum spend requirement of $1,000 on eligible purchases within 60 days of account opening and you must keep your account open for over 12 months.

The signup bonus is split into two parts. The first is 60,000 Velocity Points * (auto-converted from 120,000 NAB Rewards Points). These Points are received after spending $1,000 or more on eligible purchases in the first 60 days from account opening. An additional 20,000 Velocity Points * (auto-converted from 40,000 NAB Rewards Points) after the annual fee for the second year is billed to your account.

New cardholders can also avail of 0% p.a. on balance transfers for 12 months. The Balance Transfer must be applied for during card application. A 3% BT fee applies, and minimum monthly repayments are required.*

Your account must be enrolled for auto-redemption to Velocity Frequent Flyer at the time of points allocation. Otherwise, you will not be awarded the Velocity Frequent Flyer bonus Points.

To take advantage of this offer, make sure to click the red ‘FIND OUT MORE & APPLY’ button on the right side of this guide.

All the NAB Rewards cards offer bonus points for overseas spending and at major department and hardware stores. This is a useful bonus category if you frequently spend in these areas.


Digging into the details of the NAB Rewards Platinum Card Velocity bonus points offer

The NAB Rewards Platinum Card is linked to NAB Rewards, however, when you apply for this card through our link for this offer, your monthly points will be automatically converted to Velocity Points. This feature is part of this offer.

Velocity Frequent Flyer is the program of choice for many Australian-based travellers. There are a few reasons for this. Firstly, Velocity Frequent Flyer is the loyalty program of Virgin Australia and the nation’s third-largest loyalty program. In fact, there are over 11 million Velocity members. But also because Velocity offers the highest transfer rate among NAB Reward’s airline partners.

Velocity Frequent Flyer can help get NAB Card Members to wonderful rewards, fast. You can redeem your Velocity Points on flights, flight upgrades, cars, hotels, gift cards and much more. 

Card Details

CardNAB Rewards Platinum Visa
Loyalty programNAB Rewards
Points earned from spend1 Rewards Point per $1 on everyday spend
2 Rewards Points per $1 spend in major department and hardware stores
3 Rewards Points per $1 on overseas spend
Points CapNo points cap
Overseas transaction fee3% of the converted amount
Mobile walletApple Pay, Google Pay, Samsung Pay
Regular Annual fee$195 p.a. ongoing

Earning points with NAB Rewards Platinum Card

NAB Rewards members can transfer their Rewards Points to Velocity Points. The applicable rate is 1 NAB Reward Point = 0.5 Velocity Points. You can also have your Rewards Points automatically converted to Velocity Points every month 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 double points at major department and hardware stores. *

You can even pick up triple points when spending overseas. This means 1.5 Velocity Points per dollar spent for those selecting Velocity as their transfer partner. However, you will incur a 3% foreign transaction fee. *

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 ProgramDomestic SpendOverseas SpendDepartment & Hardware Stores
Velocity Points0.5 points / $1.5 points / $1 point / $

No points caps are applied to any of the NAB Rewards cards.

NAB Rewards Points bonuses for overseas spending, department and hardware stores

The ability to earn bonus Rewards Points at department or hardware stores as a general bonus category is unique to NAB Rewards cards, with no other bank cards on the market offering this yet.*

The list of included retailers for extra points is as follows:

  • Kmart
  • Target
  • Big W
  • Myer
  • David Jones
  • Bunnings
  • Mitre 10
  • Total Tools
  • Stratco
  • Home, Timber & Hardware

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. 

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.

NAB Apple Pay - Point Hacks

Summing up: NAB Rewards Platinum Card

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. In addition, Velocity offers bonus transfer promotions that provide an added sweetener to your points-earning potential.

The option to transfer your points to a number of other airline partners is also a handy feature to have up your sleeve. This is especially true if you’re looking to top up your balance for a flight redemption when you are short some points.

The NAB Rewards Platinum Visa has a reasonable annual fee and competitive earning rates, especially with Velocity Frequent Flyer.


* TERMS AND CONDITIONS


NAB Rewards Platinum Card — 80k Velocity auto redemption offer

Offer commenced on 16 February 2024 and ends on 31 July 2024. To be eligible for the up to 80,000 Velocity bonus Points offer (automatically redeemed from 160,000 NAB Rewards Bonus Points), you must be a Velocity Frequent Flyer member, apply for a new personal NAB Rewards Platinum Credit Card before the offer is withdrawn, have your application approved, provide your Velocity membership number to NAB to enrol in Auto Redemption, spend $1,000 on everyday purchases using your new card within 60 days of opening account and keep you card for over 12 months. You’ll receive an email from NAB after your application has been approved with information on how to provide your Velocity membership number to NAB. Redemption of Velocity Points and the Velocity membership is subject to the Velocity membership Terms and Conditions.

Points will be awarded on a tiered basis – You will be eligible to receive 120,000 NAB Rewards bonus points when you spend $1,000 on everyday purchases in the first 60 days of opening your account (credited to your NAB Rewards points balance within 3 months of meeting the spend criteria, and will be automatically redeemed for 60,000 Velocity Points within 10 days thereafter) and 20,000 NAB Rewards bonus points after you have had your card for over 12 months (credited to your NAB Rewards points balance within the 13th month and will be automatically redeemed for 10,000 Velocity Points within 10 days thereafter). The name of the cardholder must match the name on the Velocity membership number.. Offer limited to one total allocation of 140,000 NAB Rewards bonus points per Velocity account, per Offer Period.

Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purposes. You must provide your Velocity Frequent Flyer membership number to NAB in order to have your NAB Rewards points automatically redeemed for Velocity Points. Each week the NAB Rewards Points that you’ve earned will be transferred to Velocity Points with 2 NAB Rewards Points = 1 Velocity Point.

Your NAB Rewards Platinum Credit Card must remain open and in good standing, and you must be enrolled in Auto Redemption to receive the Velocity Points.

This offer is not available to existing NAB Rewards Signature or NAB Rewards Platinum Credit Card customers or customers who have had a NAB Rewards Signature or NAB Rewards Platinum Credit Card within 18 months prior to applying for a new NAB Rewards Platinum Credit Card. Offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB credit card offer.

A reduced annual card fee of $95 will be charged when the card is opened and applies for the first 12 months. You will be charged the standard $195 annual card fee in the 13th month of your card account.

3 Earning NAB Reward Points

Points are earned and redeemed in accordance with the NAB Rewards Terms and Conditions (PDF, 309KB) 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.

4 How does Points Booster work?

Triple points: 1 NAB Rewards Point + 2 additional NAB Rewards Points (Bonus Points)

Overseas purchases – Purchases (in store and online) where the merchant, financial institution or entity processing the transaction is located outside Australia. International transaction fees continue to apply.

Webjet – Purchases made online with Webjet via NAB Rewards Store or on Webjet.com.au. Webjet Booking Terms and Conditions apply.

Double points: 1 NAB Rewards Point + 1 additional NAB Rewards Point (Bonus Points)

Use your card to shop in-store and online at your favourite major department stores and hardware stores; such as, Myer, David Jones, Bunnings, Mitre 10 and many more – the choice is yours.

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.

Apple, the Apple logo, Apple Pay, Apple Watch, Face ID, iPad, iPhone, Safari, and Touch ID are trademarks of Apple Inc., registered in the U.S and other countries.

Google Pay, Android, the Google Pay Logo, Google Play and the Google Play logo are trademarks of Google LLC.

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.

Up to 80,000 bonus Velocity Points plus $100 off your first-year annual fee with the NAB Rewards Platinum Credit Card * was last modified: March 27th, 2024 by Daniel Sciberras