NAB is offering up to 180,000 bonus Rewards Points for new cardholders of the NAB Rewards Signature Card. It is the highest points-earning card in the NAB Rewards line-up.
The card also offers no international transaction fees on all eligible purchases and uncapped bonus points for purchases made online with Webjet.
The signup bonus is split into two parts, with the first 130,000 bonus Rewards Points to be received after spending $3,000 or more in the first 60 days from account opening and an additional 50,000 bonus Rewards points when you keep your card open for over 12 months.
In this guide we look at the NAB Rewards Signature Card – the other cards in the NAB Rewards line up are the NAB Rewards Platinum and NAB Rewards Business.
NAB Rewards has Velocity Frequent Flyer, KrisFlyer, Asia Miles, Flybuys and Air NZ Airpoints as transfer partners, with the first three programs being very useful for those collecting and redeeming points in Australia.
The current bonus of up to 180,000 NAB Rewards Points is equivalent to 180,000 Flybuys points, 90,000 Velocity points or ~60,000 KrisFlyer/Asia Miles when transferred.
Digging into the details of the NAB Rewards Signature Visa
The NAB Rewards Signature Card is linked to NAB Rewards, which as a flexible points program, that allows you to earn points in NAB’s own rewards points currency which you can then redeem for merchandise or partner program points by transferring them at a later date.
Card Details
| Card | NAB Rewards Signature Card |
| Loyalty Program | NAB Rewards |
| Points earned from spend | 1.5 Rewards Points per $1 on everyday spend up to $15,000 Rewards Points per statement period, and 0.5 NAB Rewards Points for every $1 spend, uncapped thereafter. 3 Rewards Points per $1 on purchases made online with Webjet. |
| Points cap | uncapped |
| Earns points at ATO | No |
| Overseas transaction fee | 0% |
| Mobile wallet | Apple Pay and Google Pay |
| Annual fee | $24 monthly fee. Monthly fee will be reversed when you spend $5,000 or more in a statement period |
We love flexible points programs because you earn points today and let you decide at a later time on the best partner or redemption option for your needs. This reduces program 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. Generally, across most banks and bank rewards programs, these changes happen infrequently, and with notice to customers.
Earning points with NAB Rewards Signature Visa
As of June 2024, the NAB Rewards Signature Card earns 1.5 NAB Rewards Point on all eligible everyday spend up to $15,000 per statement period, and 0.5 NAB Rewards Points per $1 thereafter, uncapped.
Cardholders can also earn 3 NAB Rewards Points per $1 on all eligible purchases made online with Webjet.
When looking at competing cards at similar fee levels, these earn rates are not compelling. However, if you intend to use the card for overseas, there is no international transaction fees on all eligible purchases which could make the card more appealing.
Effective Frequent Flyer Program Point Earn Rates
| Frequent Flyer Program | Eligible everyday spend* | Eligible spend at Webjet |
|---|---|---|
| Velocity Points | 0.75 points / $ | 1.5 points / $ |
| Asia Miles | 0.5 miles / $ | 1 mile / $ |
| Krisflyer Miles | 0.5 miles / $ | 1 mile / $ |
| Flybuys points | 1.5 points / $ | 3 points / $ |
| Air NZ Airpoints | 0.0075 points / $ | 0.015 points / $ |
| * Up to $15,000 per statement period, 0.5 per $1 on eligible spend thereafter. | ||
NAB Rewards Points expire
One of the downsides to NAB’s Rewards program is the points expiry policy. This is outlined in the NAB Rewards PDS and states: Points in your points balance must be used to claim a reward within 36 months from the date the transaction which earned those points was processed to your rewards card account. Points that remain unused in your points balance after that period will be forfeited.
The points you earned into your NAB Rewards account first will be used first at the time of redemption, so you have three years from the date of earning the points to when they must be used.
This is a downside to the program for anyone who wants to earn large numbers of points and hold them for an extended period of time.
Visa Signature Benefits
Visa offers a range of benefits for their Platinum, Signature and Prestige branded cards. They change relatively frequently but include some additional hotel amenities or upgrades if you book through Visa, concierge services and discounts on other travel booking options.
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 Cards, 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 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.
Summing up – NAB Rewards Signature Card
The key appeal of the NAB Rewards Signature Card is the decent earn rate plus the no international transaction fees on all eligible purchases.
It is worth noting that the card also includes some features such as access to Concierge Service, Visa Premium Access and the ability to add additional cardholders at no extra cost.
Community