NAB Rewards is a flexible credit card points program offering card members a choice on how they use their rewards points. Cards linked to this program include:
The program was launched in 2017, and includes a number of airline and loyalty partners, such as:
- Velocity Frequent Flyer
- Flybuys
- Singapore Airlines KrisFlyer
- Cathay (formerly Asia Miles)
- Air New Zealand Airpoints
- Accor Live Limitless
This guide digs into the details of the NAB Rewards program, and how best to maximise the value from the program.
NAB Rewards 101
NAB Rewards provides eligible cardholders with the ability to earn points on everyday transactions. Cardholders can then redeem points for flight rewards, merchandise and more. Based on the value of the various redemption options, transferring your points to an airline partner usually provides more value than the alternatives.
The added benefit of a flexible points program like NAB Rewards is being able to choose when to redeem your points. If you don’t have any near-term travel plans, leaving points in a flexible account like NAB Rewards keeps all options on the table. When the next trip pops up, cardholders would then be in a position to transfer points to suit that journey, based on available reward seats.
Which partners can I transfer my points to?
The transfer rates and effective earn rates for each of the program’s airline and loyalty partners are shown below.
| Frequent Flyer Program | Transfer Rate | NAB Rewards Signature Effective Earn Rate | NAB Rewards Platinum Effective Earn Rate | NAB Rewards Business Signature Effective Earn Rate |
|---|---|---|---|---|
| Velocity Frequent Flyer | 3,000 NAB Rewards points to 1,500 Velocity Points | 0.75 Velocity Points per $1, up to $15,000 per reward statement period 0.25 Velocity Points per $1 beyond $15,000 per reward statement period Except, earn 1.5 Velocity Points per $1 with Webjet | 0.5 Velocity Points per $1 - everyday purchases 0.75 Velocity Points per $1 - eligible grocery stores 1 Velocity Point per $1 - Webjet | 0.625 Velocity Points per $1 - everyday purchases 1.25 Velocity Points per $1 - major department and hardware stores 1.875 Velocity Points per $1 - Webjet and overseas purchases |
| Flybuys | 3,000 NAB Rewards points to 3,000 Flybuys Points | 1.5 Flybuys Points per $1, up to $15,000 per reward statement period 0.5 Flybuys Points per $1 beyond $15,000 per reward statement period Except, earn 3 Flybuys Points per $1 with Webjet | 1 Flybuys Points per $1 - everyday purchases 1.5 Flybuys Points per $1 - eligible grocery stores 2 Flybuys Point per $1 - Webjet | 1.25 Flybuys Points per $1 - everyday purchases 2.5 Flybuys Points per $1 - major department and hardware stores 3.75 Flybuys Points per $1 - Webjet and overseas purchases |
| Singapore Airlines KrisFlyer | 3,000 NAB Rewards points to 1,000 KrisFlyer miles | 0.5 KrisFlyer miles per $1, up to $15,000 per reward statement period 0.166 KrisFlyer miles per $1 beyond $15,000 per reward statement period Except, earn 1 KrisFlyer mile per $1 with Webjet | 0.333 KrisFlyer miles per $1 - everyday purchases 0.5 KrisFlyer miles per $1 - eligible grocery stores 0.66 KrisFlyer miles per $1 - Webjet | 0.416 KrisFlyer miles per $1 - everyday purchases 0.833 KrisFlyer miles per $1 - major department and hardware stores 1.25 KrisFlyer miles per $1 - Webjet and overseas purchases |
| Cathay Asia Miles | 3,000 NAB Rewards points to 1,000 Asia Miles | 0.5 Asia Miles per $1, up to $15,000 per reward statement period 0.166 Asia Miles per $1 beyond $15,000 per reward statement period Except, earn 1 Asia Mile per $1 with Webjet | 0.333 Asia Miles per $1 - everyday purchases 0.5 Asia Miles per $1 - eligible grocery stores 0.66 Asia Miles per $1 - Webjet | 0.416 Asia Miles per $1 - everyday purchases 0.833 Asia Miles per $1 - major department and hardware stores 1.25 Asia Miles per $1 - Webjet and overseas purchases |
| Air New Zealand Airpoints | 3,000 NAB Rewards points to 15 Airpoints Dollars | $0.0075 in Airpoints Dollars per $1, up to $15,000 per reward statement period $0.0025 in Airpoints Dollars per $1 beyond $15,000 per reward statement period Except, earn $0.015 in Airpoints Dollars per $1 with Webjet | 0.005 Airpoints per $1 - everyday purchases 0.0075 Airpoints per $1 - major department and hardware stores 0.01 Airpoints per $1 - Webjet | 0.00625 Airpoints per $1 - everyday purchases 0.0125 Airpoints per $1 - major department and hardware stores 0.01875 Airpoints per $1 - Webjet and overseas purchases |
| Accor Live Limitless | 3,000 NAB Rewards points to 500 ALL Reward Points | 0.25 ALL Reward Points per $1, up to $15,000 per reward statement period 0.083 ALL Reward Points per $1 beyond $15,000 per reward statement period | 0.166 ALL Reward Points per $1 - everyday purchases 0.25 ALL Reward Points per $1 - eligible grocery stores 0.33 ALL Reward Points per $1 - Webjet | 0.208 ALL Reward Points per $1 - everyday purchases 0.416 ALL Reward Points per $1 - major department and hardware stores 0.625 ALL Reward Points per $1 - Webjet and overseas purchases |
What are the ‘effective earn rates’ above, you might ask? We’ve done some number-crunching for you. Because points don’t convert at parity to the various airline programs, we’ve combined the card’s earning rate and its relevant conversion rate. For instance, the NAB Rewards Signature Card provides 1.5 NAB Rewards points on everyday spends, up to $15,000 per reward statement period. We also know that the conversion rate from NAB Rewards to Velocity is 2:1. This means, cardholders could effectively earn 0.75 Velocity Points per $1 spent up to that monthly $15,000 ceiling.
Don’t forget that you can also transfer your Flybuys Points to Velocity Points at a rate of 2:1. And, in turn, conversions are possible from NAB Rewards to Flybuys itself. Transferring from NAB to Velocity via Flybuys yields the same number of Velocity Points as transferring from NAB to Velocity directly. However, there are occasional Flybuys Velocity bonus transfer offers where it could make sense to transfer via Flybuys to earn Velocity Points. (Equally, there are occasional NAB-to-Velocity transfer bonuses as well, which could make direct transfers more lucrative. We’ll leave it to you to calculate what works best for your own circumstances and timing).
Planning a big flight redemption? Brush up your knowledge on the best uses of 80,000 Velocity Points, 100,000 Cathay Miles or 100,000 KrisFlyer miles.
What other rewards can I get with NAB cards?
Outside of NAB Rewards’ frequent flyer partners, the program offers other redemptions like include gift cards, merchandise and charity donations.
Webjet
NAB Rewards has partnered with Webjet to offer immediate redemption of your reward points for any Webjet travel booking. Once you’ve logged in to the NAB Rewards, you click out to Webjet, and you’ll be shown how many points you can redeem and the value of those points in Webjet credit.
In this example, the cardholder has 83,639 NAB Rewards on offer, equating to $418.19 in Webjet credit at that time. This offers a redemption value of 0.5c per NAB Rewards point.
Gift cards
Gift cards are available for Myer, JB Hi-Fi, Myer, BP, Coles, Coles Express, Bunnings and many more. The current redemption rate for a $100 gift card is 20,410 points.
Products
A range of technology, lifestyle, and other product category redemption options are available through the NAB Rewards website. Given that the prices of these products change frequently, we won’t run a comparison of the value on offer here, but these are usually not the best value use of your points.
The NAB Rewards card range
NAB Rewards now offers three cards:
- NAB Rewards Platinum Card: a higher fee, higher points-earning card.
- NAB Rewards Signature Card: the highest points-earning card in the line-up and.
- NAB Rewards Business Signature Card: a business-focused card.
We’ve got the details of the three consumer cards below, along with the latest sign-up offers and a link to our dedicated card guide.
NAB Rewards Signature
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 | $35 monthly fee. Monthly fee will be reversed when you spend $5,000 or more in a statement period |
NAB Rewards Platinum Card
Card Details
| Card | NAB Rewards Platinum Card |
| Loyalty program | NAB Rewards |
| Points earned from spend | 1 NAB Rewards Point per $1 on everyday spend 1.5 NAB Rewards Points per $1 at eligible Grocery Stores 2 NAB Rewards Points per $1 with purchases made online with Webjet via NAB Rewards Store or on Webjet.com.au |
| Points Cap | No points cap |
| Overseas transaction fee | 3.5% of the converted amount |
| Mobile wallet | Apple Pay, Google Pay, Samsung Pay |
| Regular Annual fee | $195 p.a. ongoing |
What are the other features of NAB Rewards?
Bonus points via online shopping
NAB Rewards boasts a handy bonus points program. When you click through the NAB website before shopping online, you may be able to earn extra points for every dollar you spend.
NAB Rewards: summing up
NAB Rewards offers several airline partners, allowing flexibility when it comes time to redeem. This could allow a cardholder to cherry-pick the best-value flight redemption for any given journey. Or, indeed, to transfer points based on which frequent flyer program has the right availability for the journey.
However, there’s a downside of NAB Rewards that’s fair to point out. This is the everyday earning rate that applies to standard retail purchases. The effective earning rates for these transactions (giving 0.75 to 0.25 Velocity Points per $1, for example), are on the lower side, compared to similar cards in the market.
Overall, though, it’s a program well worth looking into.
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