NAB Qantas Rewards Signature credit card review

Earn 100,000 bonus Qantas Points when you meet the spend requirements and earn up to 1 Qantas Point per dollar spent.

The NAB Qantas Rewards Signature is a Visa product suited to cardholders who want to earn Qantas Points as they spend and take advantage of extra card features to outweigh the annual fee. It also comes with a standard 4.99% p.a. balance transfer rate for the first 6 months, which can help you consolidate and clear your debts while minimising your interest costs.

Product NameNAB Qantas Rewards Signature Card
Rewards ProgramQantas Frequent Flyer
Balance transfer rate (p.a.)4.99% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit90% of available credit limit
Purchase rate (p.a.)19.99% p.a.
Offer end date25 February 2018
Annual fee$395 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 44 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$15,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceYes
Minimum Age18 years of age
Available To Temporary ResidentsYes - Conditions apply
Credit Rating RequirementGood
Annual fee$395 p.a.
Late Payment Fee$15
Cash Advance Fee2% or $2.50, whichever is greater
Overseas Cash Advance Fee2% or $2.50, whichever is greater
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You'll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3%
of transaction value
Additional Cardholder Fee$0
Number of Additional Cardholders1

Pros

  • Apply by 25 February 2018 and receive 100,000 bonus Qantas points when you spend $3,000 on everyday purchases within 60 days of account opening.
  • Take advantage of 4.99% p.a. on balance transfers for 6 months.
  • Get rewarded with up to 1 Qantas Point per $1 spent on eligible purchases.

Cons

  • This card charges a relatively high annual fee of $395.
  • This card comes with only up to 44 days interest-free on purchases, as opposed to most cards that offer up to 55 days.
Rewards ProgramQantas Frequent Flyer
Bonus Points100,000 bonus points
Rewards Points per $ spent (VISA/MC)1
Rewards Points per $ (VISA/MC) Cap12,500

Review of the NAB Qantas Rewards Signature card

The NAB Qantas Rewards Signature Card boasts up to 100,000 bonus Qantas Points when you meet the spend requirements. Earning up to 1 Qantas Point per $1 spent, it also offers one of the most competitive Qantas Point earn rates currently on the market. Designed for travellers, the card also comes with complimentary insurance and a concierge service. These perks come at the cost of a $395 annual fee, which is one of the highest annual fees among Qantas Frequent Flyer credit cards.

Benefits and features of the NAB Qantas Rewards Signature card

  • Bonus Qantas Points. You can give your points balance a boost of 100,000 bonus Qantas Points when you apply by 25 February 2018 and spend $3,000 on everyday purchases within 60 days of opening the account. You’ll also earn 1 bonus point for every dollar spent on selected Qantas services in Australia.
  • Earn Qantas Points as you spend. Earn 1 Qantas Point per $1 spent up to $5,000 and then 0.5 Qantas Points per $1 spent between $5,001 and $20,000 per statement period. Points are capped at 12,500 per statement period.
  • Interest-free days. If you pay your balance in full, you’ll receive up to 44 interest-free days on purchases.
  • Complimentary insurance. When you spend at least $500 on prepaid travel costs with the NAB Qantas Rewards Signature Card before your trip, you’ll be covered for travel cancellation, overseas medical expenses, lost luggage or travel documents with insurance issued by QBE. Make sure to check the complimentary insurance policy document for more information on the cover, the eligibility requirements and how you can make a claim.
  • Concierge service. Provided by Visa Worldwide, cardholders will also enjoy their own personal assistance for travel and lifestyle services with the NAB 24/7 Concierge.

Rates and fees of the NAB Qantas Rewards Signature card

  • Annual fee. This card has an annual fee of $395.
  • Purchase rate. Purchases will collect an interest rate of 19.99% p.a.
  • Cash advance rate. If you use the card for cash advances, a 21.74% p.a. Interest rate will apply. You’ll also be charged a cash advance fee of 2% or $2.50, whichever is greater.
  • Standard balance transfer rate. This card has a 4.99% p.a. interest rate for 6 months on balance transfers, which reverts to the standard cash advance rate. Note that minimum monthly repayments are required.
  • Late payment fee. If you fail to meet the minimum repayment by the due date at the end of the statement, you’ll be charged a late payment fee of $15.

How to apply for the NAB Qantas Rewards Signature card

If you’ve compared your options and decided the NAB Qantas Rewards Signature card is right for you, make sure you confirm that you meet the eligibility requirements and organise the necessary information before you apply.

Eligibility requirements

  • Are you at least 18 years old? Applicants must be 18 years old or above to qualify for this card.
  • What is your residential status? You must be an Australian citizen or permanent resident.

The documents and information you’ll need to provide

  • Proof of income. You must provide payslips or bank statements.
  • Employment. You'll need to provide details of your employment including name, address and time in employment.
  • Personal details. You'll need to prove your residential address.
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10 Responses

  1. Default Gravatar
    RobFebruary 20, 2018

    Does this card offer bank feed into Xero accounting software?
    Can you advise wnhatcards offer this automatic feed function?

    • Staff
      RobynFebruary 25, 2018Staff

      Hello Rob,

      Thank you for your inquiry. Yes, this credit card can be set up for bank feeds. You will need to add your NAB account number in Xero first. You can do this in by logging in to your Xero Accounting Package and clicking on Select Bank Feeds. If applying via the manual registration form, your account number in Xero must also match the account number on the form.

      As for other bank, yes they do as well. However, you will have to contact the specific bank directly for further assistance.

      Hope this helps. Should you have further questions or clarifications, please do not hesitate to contact us again.

      Best Regards,
      Robyn

  2. Default Gravatar
    MDecember 31, 2017

    What is policy or charge for an additional spouse card

    • Staff
      RenchDecember 31, 2017Staff

      Hi M,

      Thanks for your inquiry.

      There’s no additional card holder fee for NAB Qantas Rewards Signature credit card

      Best regards,
      Rench

  3. Default Gravatar
    travis.ashwell@yahoo.com.auDecember 12, 2017

    When do you pay the annual fee on the credit card. At the start or after a year? If i cancel the card before the end of the year do i still get charged the fee
    Thankyou

    • Staff
      MayDecember 12, 2017Staff

      Hi Travis,

      Thank you for your inquiry.

      The annual fee is usually charged during the first statement period following your account activation. The annual fee will then be charged on or around the anniversary of the date the first annual fee was charged every year thereafter. You may have to check with your issuing bank as to the schedule of of billing your annual fee. If you cancel your card before the annual fee is billed (say in the second year), then you won’t be charged for that fee.

      Cheers,
      May

  4. Default Gravatar
    November 26, 2017

    Hi

    I previously had a NAB Velocity frequent flyer card which I cancelled in October 2017. Am I still eligible for the 100,000 bonus points offer (I note that some credit providers stipulate that if you have held a credit card with them in the preceding 12/18 months you are ineligible for bonus points ) if i opt to apply for this card?

    Thanks in Advance

    • Staff
      MayDecember 12, 2017Staff

      Hi Tom,

      Thank you for your inquiry and sorry for the delayed reply.

      According to the fine prints on NAB site: “Offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB card offer.”

      I’m afraid that since you’ve already closed a Velocity frequent flyer card issued by NAB, you may not be eligible to get the 100,000 bonus Qantas Points offered on this NAB Qantas Rewards Signature credit card.

      Cheers,
      May

    • Default Gravatar
      SarahJanuary 14, 2018

      Hello, similar to the last question

      I currently hold a NAB Qantas Rewards card. I don’t plan on closing/transferring it. Am I still eligible for the 100,000 bonus points offer or because I still have it, it comes under ‘any other offers’ title??

      Thanks

    • Staff
      RenchJanuary 16, 2018Staff

      Hi Sarah,

      Thanks for your inquiry. Please note that we are not affiliated with NAB or any company we feature on our site and so we can only offer you general advice.

      To be eligible for the Bonus points offer, you must apply for a new personal NAB Qantas Rewards Signature Card by 25th February 2018,, be approved, and spend $3,000 on everyday purchases within 60 days of opening your account. Offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB card offer.

      You may contact NAB directly or click on the ‘Go to site’ button on this page for more info and apply online.

      Best regards,
      Rench

Credit Cards Comparison

Rates last updated February 26th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
American Express Velocity Escape Card
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$0 p.a.
Receive a bonus 12,500 Velocity Points, pay a $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
Exclusive to finder.com.au, enjoy a 0% BT fee, 0% balance transfer offer for 25 months and seven complimentary insurance covers.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
0% p.a. for 24 months
$99 p.a.
Platinum card benefits including complimentary insurance, plus 0% p.a. for 24 months on balance transfers (with no BT fee). Ends 28 February 2018.
Westpac Low Rate - Online Offer
13.49% p.a.
0% p.a. for 30 months with 2% balance transfer fee
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Take advantage of 0% p.a. for 30 months on balance transfers with a 2% balance transfer fee when you apply online by 28 February 2018.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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