Up to 100,000 bonus NAB Rewards Points with the NAB Rewards Platinum Card

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 $3,000 within 90 days of account opening and 0% p.a. for 12 months on Balance Transfer with a 3% BT fee.^{1 2 4}

The signup bonus is split into two parts, with the first 80,000 Rewards Points to be received after spending $3,000 or more in the first 90 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.²

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 Card – there are also the higher point-earning NAB Rewards Signature Card and NAB Rewards Business Card.

Digging into the details of the NAB Rewards Platinum Card

The NAB Rewards Platinum Card 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 Card 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

Earning points with NAB Rewards Platinum Card

The NAB Rewards Platinum Card 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.^{2 3}

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.

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

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.³

Complimentary Insurances

You will get access to five complimentary insurances⁵ with the Platinum Card, assuming you meet the eligibility criteria:

• International Travel Insurance
• Interstate Flight Inconvenience Insurance
• Rental Vehicle Excess in Australia Insurance
• Purchase Protection Insurance
• Extended Warranty Insurance

Full PDS for the above insurance can be found here.

Effective 15 May 2026 – For the NAB Rewards Platinum card, International Travel, Domestic Travel and Rental Vehicle Excess Insurance will be removed.

Please read the summary of changes for further details and how they will affect your insurance cover.

This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.

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 currently hold, or have held, any personal NAB Rewards Credit Card in the last 24 months.

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 Card

It’s worth remembering that NAB Rewards Platinum Card 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 Card 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.

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