NAB launches in-house credit card NAB Rewards program

Sally McMullen 24 January 2017

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You can now earn NAB Rewards points with three new NAB credit cards.

NAB cardholders can now enjoy more flexibility with their rewards following the launch of the NAB Rewards program. Previously, NAB rewards credit cardholders could only earn Qantas Points, Velocity Points or flybuys points. Rather than allowing you to earn points with one airline, the NAB Rewards Program will offer you more flexibility when redeeming your rewards. You will be able to trade your NAB Rewards points for frequent flyer points with three airlines, flights and travel deals through Webjet, gift cards for your favourite stores and cash direct to your NAB account.

The NAB Rewards program has been launched with three new credit cards. If you want to earn NAB Rewards points on everyday purchases, you can earn 0.75 Points for every $1 spent on the NAB Rewards Classic Card or 1 Point for every $1 with the NAB Rewards Platinum Card. Otherwise, if you want to earn points on business expenses, you can use the NAB Rewards Business Platinum card to earn 1 Point for every dollar spent on business purchases.

You can also earn triple points when booking through Webjet or when making foreign transactions online or overseas. You’ll also enjoy double points on purchases made in major department and hardware stores such as Myer, David Jones, Mitre 10, Bunnings and more.

Each of the cards comes with a bonus points offer, too. The NAB Rewards Platinum Business Card offers up to 80,000 bonus points when you spend $15,000 in the first 90 days and the NAB Rewards Platinum Card offers the same 80,000 bonus points but at a smaller required spend of $2,500 in the first 90 days. Meanwhile, the NAB Rewards Classic Card comes with 40,000 bonus points when you spend $1,500 within 90 days of opening your account.

While points are uncapped, you can’t earn rewards on some transactions such as payments to the Australian Taxation Office. It’s also important to note that the NAB Rewards Classic Card, Rewards Platinum Card and Business Platinum Card are all Visa products rather than dual Visa and American Express products like NAB’s existing rewards cards. Unfortunately, this means you won’t be able to take advantage of a higher earn rate when using an AMEX card as you can with NAB’s frequent flyer cards.

While NAB cardholders can currently only earn frequent flyer points with Qantas, Virgin Australia’s Velocity and flybuys, NAB Rewards members will also have the freedom to trade their credit card points for frequent flyer miles with Virgin Australia, Cathay Pacific and Air New Zealand. You can see the credit card rewards to frequent flyer points exchange rates below.

Frequent flyer programExchange rate
Virgin Australia Velocity3 NAB Rewards points = 1.5 Velocity Point
Cathay Pacific Asia Miles3 NAB Rewards points = 1.0 Asia Mile
New Zealand Airpoints Dollars3 NAB Rewards points = $0.015 Air New Zealand Dollars

You can transfer a minimum amount of 3,000 NAB Rewards points at a time.

If you don’t belong to a frequent flyer program and still want to redeem your points for flights, the partnership with Webjet could come in handy. As well as flights, you can also redeem hotel accommodation, car hire and exclusive holiday packages through Webjet. You’ll also have the option to redeem your NAB Rewards for gift cards and digital vouchers with popular brands including Coles, BP, Bunnings, Country Road, David Jones, JB Hi-Fi and Kmart to name a few. If you’d prefer to use your points to keep your finances in check, you can also redeem your NAB Rewards for cash to your credit card or debit card account. NAB Rewards members also have the option to use points plus pay if they don’t have enough points to redeem the reward they wish. NAB Business Platinum credit card holders can redeem points for corporate-specific perks such as office supplies, business support services and rewards for employees.

If you’re interested in earning NAB Rewards points on your everyday purchases, you can apply for one of the three NAB Rewards credit cards on the market to be automatically enrolled into the loyalty program.

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