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Terms and conditions apply

Balance transfer rate for 12 months with 3% balance transfer fee: 0% p.a.
Bonus points: 80,000
Purchase rate: 22.49% p.a.
Reward points per $ spent: 1.25

Our verdict

Offers up to 80,000 bonus Velocity Points and up to 2 NAB Rewards Points per $1 on eligible groceries, petrol and public transport spending.

The NAB Rewards Card is aimed at cardholders who want to get Velocity Points when they spend on everyday purchases. It has a Finder Score of 5.2 for frequent flyer, reflecting its healthy bonus points offer and complimentary mobile phone insurance.

Right now, you can get 40,000 bonus Velocity Points (converted from 120,000 NAB Rewards Points) when you apply for a new NAB Rewards Card and spend at least $4,000 on everyday purchases within the first 90 days from opening the account. And you can get another 40,000 Velocity Points (converted from 120,000 NAB Rewards Points) when you keep your card open for over 12 months. With this card you can earn a base rate of 1.25 NAB Rewards Points per $1 spent up to $5,000 per month, then 0.5 points per $1 thereafter (uncapped). Keep in mind that you'll need to pay the ongoing $195 annual fee in the second year before you can collect the last 40,000 bonus Velocity Points on offer with this card.

Pros

Up to 80,000 bonus Velocity Points
Earn additional 0.5 NAB Rewards Points per $1 spent at eligible grocery, petrol, public transport and travel stores
0% p.a. balance transfer rate for 12 months (3% fee)

Cons

You need to keep the card for at least 12 months to collect all the bonus points, which means you’ll have to pay the second year annual fee
3.5% international transaction fee
Balance transfer offer has a 3% balance transfer fee

Who might the NAB Rewards Card be suited for?

You're aiming for a substantial points boost. New cardholders can earn up to 80,000 bonus Velocity Points (converted from 240,000 NAB Rewards Points) by spending $4,000 on everyday purchases within the first 90 days and keeping the card open for over 12 months.
You want flexibility in point redemption. NAB Rewards Points can be transferred to various partner programs, including Velocity Frequent Flyer, at a rate of 3 NAB Rewards Points to 1 Velocity Point, providing versatility in how you use your rewards.
You frequently shop for groceries and spend on petrol, public transport or travel. Earn 0.75 NAB Rewards Points per $1 spent at eligible grocery, petrol, public transport and travel stores.

You might want to skip it if...

You prefer a direct earn Velocity card. If you want points automatically credited to your Velocity account without manual transfers, a direct earn card like the American Express Velocity Platinum Card might be more suitable.
You occasionally carry a balance. With a 22.49% p.a. purchase interest rate, carrying a balance can lead to significant interest charges, potentially outweighing the benefits of earned points.
You seek a lower annual fee. If the $195 annual fee is steep for your budget, consider cards with lower fees, such as the NAB Low Fee Card, which has an annual fee of $49.
You desire higher points earn rates. For higher earn rates, the NAB Rewards Travel Card offers up to 2.5 NAB Rewards Points per $1 spent with Webjet, though it comes with a higher $395 annual fee.

Where could you fly with NAB Rewards Card's 80k bonus points?

Calculation doesn't include carrier charges, taxes, or fees. Calculation is based on Virgin Australia Reward Seat redemptions (Tier 3 pricing) for domestic flights; Singapore Airlines Reward Seat redemptions for Singapore; United Airlines Reward Seat redemptions for Los Angeles; Virgin/Qatar Reward seat redemptions for London.

Details

Product details

Product Name	NAB Rewards Card – Velocity Points
Balance transfer rate p.a.	0% for 12 months with 3% balance transfer fee, then 22.99%
Balance transfer limit	90% of available limit
Purchase rate p.a.	22.49%
Interest-free days	Up to 44 days on purchases
Cash advance rate p.a.	22.99%
Min credit limit	$3,000
Max credit limit	$30,000
Card type	Visa

Eligibility

Joint application

Rewards

Rewards program	NAB Rewards / Velocity Frequent Flyer
Bonus points	80,000
Rewards points per $ spent	1.25
Rewards points cap	N/A

Fees

Annual fee	$195
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	3.5%
Cash advance fee	3.5% of transaction value or $3.50, whichever is greater
Overseas ATM withdrawal fee	$5
Additional cardholder fee	$0
Number of additional cardholders	1

How to apply

You can apply for the NAB Rewards Card online in about 15 minutes and get a response in around 60 seconds. Before you start, make sure you meet the eligibility requirements and have the necessary documents to complete the application.

Eligibility criteria

New customer. The bonus Velocity Points offer is only available to new NAB customers, meaning you cannot hold or have held any personal NAB Rewards credit card in the last 24 months.
Velocity member. You need to be a Velocity Frequent Flyer program member.

Residency. You can apply if you're an Australian citizen or permanent resident. If you are not a citizen or permanent resident, you will need to have an acceptable visa. Many visas are acceptable but the following are not: Visitor Visa (exception, a Special Category Visa - NZ Citizen is acceptable), Working Holiday, Student, Exchange/gap year, Transit/short stay/seasonal, and Bridging.
Eligible balance transfer debt. You can transfer up to 90% of your approved credit limit from non-NAB accounts.
Age. You must be at least 18 years old to apply.

Required documents

Personal information. This includes your full name, date of birth, marital status, residential address, email address and contact number. You're also required to provide identification, such as your driver's licence number.
Employment. This includes your employer's name and contact details, your role and the length of time you've worked there. You'll also need to provide details of your salary and may be asked to submit recent payslips or bank statements.
Finances. As well as your income, this includes details of any assets such as savings, shares or investments. You'll also need to provide information about existing cards, loans, other debts and ongoing financial responsibilities and expenses (ie groceries and fuel).
Balance transfer details. If you're conducting a balance transfer, you'll need to include how much you're moving and your previous account details.

Go to NAB's site More info

Card benefits

Bonus Velocity Points offer. Receive 40,000 bonus Velocity Points (converted from 120,000 NAB Rewards Points) when you apply for a new NAB Rewards Card and spend $4,000 on everyday purchases within 90 days of opening the account. These points will be credited to your account within 3 months of meeting the spend requirement. The other 40,000 bonus Velocity Points (converted from 120,000 NAB Rewards Points) will be credited in the 13th month when you keep your account open. The Velocity Points you receive will be converted from NAB Rewards Points.
Points per $1 spent. You can get your NAB Rewards Points automatically converted to Velocity Points by providing your Velocity Frequent Flyer membership number. You'll earn 1.25 NAB Rewards Points per $1 spent on eligible purchases up to $5,000 per month, then 0.5 points per $1 spent thereafter (uncapped). You can also earn an additional 0.75 NAB Rewards Points per $1 spent at eligible grocery stores (an eligible grocery store is a merchant whose MCC is designated as 5411 Grocery Stores and there are exclusions including purchases made via PayPal or food delivery platforms), petrol and public transport stores. Other conditions apply. NAB Rewards Points convert to Velocity Points at a rate of 3 NAB Rewards Points to 1 Velocity Point.

Balance transfer offer. This card offers a balance transfer rate of 0% p.a. for the first 12 months. A one-time balance transfer fee of 3% applies. At the end of the introductory period, any remaining balance from your transfer will attract the variable cash advance rate.
Complimentary mobile phone insurance. Receive complimentary mobile phone insurance covering accidental damage and theft when you pay your monthly phone bill with an eligible NAB credit card.
NAB Concierge. Your 24/7 concierge service can help you with tasks such as travel planning and bookings, entertainment tickets, flower deliveries and restaurant recommendations and bookings.
Visa benefits. The NAB Rewards Card offers contactless payments via Visa payWave, exclusive ticket and experience offers through Visa Offers + Perks, and extra security online through Visa Secure. As a platinum card, you also gain access to a variety of premium Visa benefits, including priority access to pre-released tickets through Visa Front Line.
Mobile wallets. You can link your NAB credit card with Samsung Pay, Apple Pay, Google Pay or Garmin Pay to make contactless payments using your qualifying device at the checkout.

Rates & fees

Annual fee. This card charges an annual fee of $195.
Purchase rate. A 22.49% p.a. variable interest rate applies to purchases made on this card.

Interest-free days. Receive up to 44 interest-free days on purchases when you pay your balance in full, or if your statement shows an interest free days amount, in full, by the statement due date.
Cash advance rate. The variable rate for cash advance transactions is 22.99% p.a.
Cash advance fee. If you use the NAB Rewards Card to withdraw cash or for another type of cash equivalent transaction, you'll pay a fee of 3.5% of the transaction amount or $3.50, whichever is greater.
Credit limits. This card has a minimum credit limit of $3,000 and a maximum credit limit of $30,000.
International transaction fee. When you use this card for foreign currency transactions (such as shopping overseas or online with an international merchant), a fee worth 3.5% of the total Australian dollar amount applies.

Go to NAB's site More info

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. NAB Rewards Card information PDF
2. NAB Rewards Card TMD

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Richard Finder

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Karen

December 17, 2025

I have a credit card with a limit of $6000 we don’t owe that much so how does the balance transfer work?

Angus Kidman Finder

December 22, 2025

The balance transfer is based on the amount of debt transferred, not the card limit. So if you have $4,000 on your existing card, $4,000 would be transferred to the new card and the balance transfer fee (3% for this NAB card) applied. You’d then have 12 months of 0% interest, and your goal would be to pay off that debt in that time.

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nicole

November 27, 2025

if i get this credit card can my husband have acard too

Richard Whitten Finder

December 01, 2025

Hi Nicole,

You can apply for this card and add an additional cardholder at no extra cost.

paul

May 01, 2025

Exactly what is an “eligible purchase”. I’m spending over $10k a month with a virgin velocity card and earning less than 2500 points per month.

Sarah Megginson Finder

May 02, 2025

Hi Paul, Eligible purchases include most everyday purchases, like grocery shopping, petrol, movie tickets, restaurants and cafes, concert tickets, travel etc. Ineligible spending includes things like online gambling, cash advances and BPay transactions. If you’re paying a lot of bills using your card, you won’t be eligible to earn rewards points on these purchases. More info on the cards that don’t give points for BPAY payments is here – many cards do still give points for these purchases, so it might be worth switching! Hope this helps.

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Allie Williams

August 27, 2024

Hello Is this card point reward program capped per month? I currently have a NAB card that is capped at 1500 points per month even with a 20k monthly spend and looking for something more worthwhile with velocity points if you cpould help please not looking for an american express

Angus Kidman Finder

September 16, 2024

Hi Allie, There’s no cap on the number of NAB Rewards points you can earn with this card, and you can opt in to have these automatically converted to Velocity Points.

josh

August 12, 2024

Hi, is the 1 point per dollar spent earn rate velocity points or NAB rewards points (making it actually .5 velocity points per dollar spent)

Richard Whitten Finder

September 23, 2024

Hi Josh,

Sorry for the late reply. The base earn rate on the card is 1 NAB Reward Point, so .5 Velocity Points. I appreciate that it’s a bit confusing. I will edit our guide to make this point clearer. Thanks for your question!

Angus Kidman Finder

September 23, 2024

Hi Josh, yes it’s 1 NAB Rewards Point per $1 spent, which, as noted, converts to 0.5 Velocity Points.

Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University. See full profile

NAB Rewards Card – Velocity Points

Pros

Cons

Where could you fly with NAB Rewards Card's 80k bonus points?

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Sources

Sources

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