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 Signature – Velocity Points

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NAB Rewards Signature Card – Velocity Points - DISCONTINUED
Terms and conditions apply
Bonus points
100,000
Purchase rate
19.99% p.a.
Reward points per $ spent
1.25
Annual fee for the first year ($295 p.a. thereafter)
$195 p.a.

Our verdict

Earn up to 100,000 bonus Velocity Points through NAB Rewards and a discounted $195 annual fee in the first year (then $295 p.a.).

This offer ended on 5 September 2023. You can compare the current range of NAB credit card options here.

Pros

  • Up to 200,000 NAB Rewards Points (converts to 100,000 bonus Velocity Points)
  • Up to 3.75 NAB Rewards Points per $1
  • Option to automatically transfer points to Velocity (2:1 conversion rate)
  • Discounted $195 first-year annual fee

Cons

  • Need to keep the card for at least 12 months to get the full amount of bonus points
  • The standard $295 annual fee is relatively high when compared to similar cards
  • 3% foreign transaction fee

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
The NAB Rewards Signature is a top-tier credit card that offers auto-transfers from NAB Rewards Points to Velocity Points. Right now, you can earn 80,000 bonus Velocity Points when you apply by 5 September 2023 and spend $3,000 on eligible purchases in the first 60 days from account opening. These Velocity Points are converted from automatic redemption of 160,000 NAB Rewards Points. For NAB to set up auto-transfers, you will need to give NAB your Velocity Frequent Flyer number after your application is approved.

You can then earn a further 20,000 bonus Velocity Points converted from 40,000 NAB Rewards Points. To collect all of the bonus points on offer, you will need to keep your card open for over 12 months. This means you will need to pay the discounted annual fee of $195 in the first year and the $295 second year annual fee.

Details

Product details

Product Name NAB Rewards Signature Card – Velocity Points - DISCONTINUED
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.
19.99%
Interest-free period Up to 44 days on purchases
Cash advance rate p.a. 21.74%
Min credit limit $15,000
Max credit limit $75,000
Card type Visa

Eligibility

Available to temporary residents Yes - Conditions apply
Joint application Yes

Rewards

Rewards program Velocity Frequent Flyer
Bonus points 100,000
Rewards points per $ spent 1.25

Fees

Annual fee
Annual fee
$195 first year ($295 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

It takes about 15 minutes to apply for a NAB Rewards Signature Credit Card online, and you'll get a response in around 60 seconds. To get started, check you meet the eligibility criteria and have all the details needed to complete the application.

Eligibility criteria

  • New cardholder. To be eligible for the up to 200,000 NAB Rewards Points (automatically converted to 100,000 bonus Velocity Points), you cannot hold or have held a NAB Rewards card in the previous 18 months.
  • Velocity Frequent Flyer details. You need to provide NAB with your Velocity Frequent Flyer details after being approved for this card. Otherwise, the Velocity auto-transfer won't be set up and you'll earn NAB Rewards Points. Using Velocity Points is subject to Velocity's terms and conditions.

Card benefits

  • Bonus points offer. You'll earn 80,000 bonus Velocity Points (automatically converted from 160,000 NAB Rewards Points) when you apply, provide NAB with your Velocity Frequent Flyer number and spend $3,000 on eligible purchases in the first 60 days from account opening. You'll get another 20,000 bonus Velocity Points (automatically converted from 40,000 NAB Rewards Points) after the 12-month anniversary of opening the account, as long as the auto-transfer remains in place. NAB will send an email after the application is approved with details about providing your Velocity Frequent Flyer number to set up the auto-transfer option. Eligible purchases cover most everyday and retail spending, but exclude transactions such as cash advances, government payments and balance transfers.
  • Discounted first-year annual fee. This card offers a reduced annual fee of $195 for the first year, which goes to $295 p.a. after that.

Rates & fees

  • Annual fee. Outside of any promotions, this card charges an annual fee of $295 p.a.
  • Purchase rate. If you carry a balance, your purchases will accrue a variable interest of 19.99% p.a.

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Amy Finder

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