In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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NAB Rewards Platinum Card – Velocity Points

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NAB Rewards Platinum Card – Velocity Points
Terms and conditions apply
Balance transfer rate for 12 months with 3% balance transfer fee
0% p.a.
Bonus points
80,000
Purchase rate
20.99% p.a.
Reward point per $ spent
1

Our verdict

Offers up to 80,000 bonus Velocity Points and a discounted $95 annual fee in the first year.

The NAB Rewards Platinum card is aimed at cardholders who want to get Velocity Points when they spend on everyday purchases. Right now, you can get 60,000 bonus Velocity Points (converted from 120,000 NAB Rewards Points) when you apply before 31 July 2024 and spend at least $1,000 on everyday purchases within the first 60 days from opening the account. And you can get another 20,000 Velocity Points (converted from 40,000 NAB Rewards Points) when you keep your card open for over 12 months.

Pros

  • Up to 80,000 bonus Velocity Points
  • Discounted $95 first-year annual fee
  • Earn additional 0.5 NAB Rewards Points per $1 spent at eligible grocery stores
  • Visa Premium Access and a 24/7 access to the NAB Platinum Concierge Services
  • 0% p.a. interest rate on balance transfers for 12 months

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% international transaction fee
  • Balance transfer offer has a 3% balance transfer fee

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

Details

Product details

Product Name NAB Rewards Platinum Card – Velocity Points
Balance transfer rate p.a. 0% for 12 months with 3% balance transfer fee, then 21.74%
Balance transfer limit 90% of available limit
Purchase rate p.a.
Purchase rate p.a.
20.99%
Interest-free period
Up to 44 days on purchases
Cash advance rate p.a. 21.74%
Min credit limit $6,000
Max credit limit $30,000
Card type Visa

Eligibility

Joint application No

Rewards

Rewards program Velocity Frequent Flyer
Bonus points 80,000
Rewards points per $ spent 1

Fees

Annual fee
Annual fee
$95 first year ($195 after)
Minimum monthly repayment 2% of the closing balance or $25, whichever is greater
Late payment fee $15
Foreign currency conversion fee
Foreign currency conversion fee
3%
Cash advance fee 3% or $3, 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 Platinum 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 a NAB Rewards card in the previous 18 months.
  • Velocity member. You need to be a Velocity Frequent Flyer program member.

Card benefits

  • Bonus Velocity Points offer. Receive 60,000 bonus Velocity Points (converted from 120,000 NAB Rewards Points) when you apply before 31 July 2024 and spend $1,000 on everyday purchases within 60 days of opening the account. These points will be credited to your account within 3 months of meeting the spend requirement. The other 20,000 bonus Velocity Points (converted from 40,000 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.
  • Discounted first-year annual fee. Apply before 31 July 2024 and get approved for a new card and you will get a discounted annual fee of $95 for the first year. After that, the annual fee will be $195 p.a.

Rates & fees

  • Annual fee. Outside of any promotions, this card charges an annual fee of $195.
  • Purchase rate. A 20.99% p.a. variable interest rate applies to purchases made on this card.

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