NAB Rewards Business Signature Review

Collect 100,000 bonus points when you spend $4,000 on everyday business purchases within 60 days of account opening.

This NAB credit card combines a flexible rewards program with business account features, including multiple cards for employees, detailed monthly statements and account summaries, and a concierge service. You can also enjoy exclusive business travel and retail offers from Visa, such as car hire savings, VIP airport lounge access, retail discounts and complimentary gifts.

If you apply and get approved for the NAB Rewards Business Signature, you can get a bonus 100,000 points by spending $4,000 on everyday business purchases within the first 60 days.

Product NameNAB Rewards Business Signature Card
Rewards ProgramNAB Rewards
Purchase rate (p.a.) 18.50% p.a.
Annual fee$175 p.a.
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
Up to 44 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
$5,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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 InsuranceNo
Minimum Age18 years of age
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Annual fee$175 p.a.
Minimum Monthly Repayment2.5% of closing balance or $10, whichever is greater
Late Payment Fee$15
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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
Cash Advance Fee2% or $2.50, whichever is greater
Overseas Cash Advance Fee2% or $2.50, whichever is greater
Overseas ATM Withdrawal Fee$5
Additional Cardholder Fee$175
Number of Additional Cardholders1000

Pros

  • Get 100,000 bonus points when you spend $4,000 on everyday business purchases in the first 60 days of account opening.
  • Access to 24/7 concierge services, NAB Commercial Cards Unauthorised Transaction Insurance and Transport Accident Insurance.

Cons

  • The standard annual fee is $175, which is relatively high.
  • Most cards that offer up to 55 days interest-free on purchases, but this card comes with up to 44 days only.
Rewards ProgramNAB Rewards
Bonus Points100,000 bonus points
Rewards Points per $ spent (VISA/MC)1.25
Rewards Points per $ (VISA/MC) CapUncapped

Features and benefits of the NAB Rewards Business Signature

Here are the key benefits you can get with the NAB Rewards Business Signature card:

  • Introductory 100,000 bonus point offer. Apply and get approved for the NAB Rewards Business Signature, then spend $4,000 on eligible business purchases within the first 60 days of account opening to enjoy this bonus point offer. Note that business purchases do not include transactions NAB decides are wholly or partly for gambling or gaming purposes.
  • Rewards. The points earned through this account are credited to a single account balance, which you can then use to reward yourself or your employees. Rewards available through the NAB Rewards program include travel with Webjet, merchandise, gift cards and frequent flyer points with Velocity, Asia Miles, Singapore Airlines KrisFlyer Miles or Air New Zealand Airpoints.
  • Cards for employees. You can request individual cards and credit limits for your employees, while managing all your account spending under a single credit facility.
  • Detailed statements. Track expenses with detailed monthly statements for each card, as well as an overall account summary.
  • Personal concierge service. Get access to a 24/7 global concierge service that can help you with travel and lifestyle services including restaurant reservations, event bookings, cultural events and more.
  • Visa retail and travel offers for businesses. Enjoy exclusive privileges such as savings on car rentals, accommodation booking services, special offers on VIP airport lounge access and exclusive discounts and complimentary gift items at duty free retailers and shopping centres.
  • Complimentary insurance. This card gives you access to NAB Commercial Cards Unauthorised Transaction Insurance and transport accident insurance. Eligibility requirements apply for these insurance covers, so please refer to the policy booklets for detailed information.
  • Mobile wallets. You can link your NAB credit card with Samsung Pay or Apple Pay to make contactless payments using your qualifying device at the checkout.

Rates and fees for the NAB Rewards Business Signature

Weigh up these costs to decide if the NAB Rewards Business Signature is right for your business.

  • Annual fee. This account has an annual fee of $175 per card. So, if you only had one card for yourself, you would pay $175 p.a. If you had a total of three cards (one for you and two for employees), the annual fees would total to $525, and so on.
  • Purchase rate. The NAB Rewards Business Signature has a variable purchase rate of 18.5% p.a.
  • Cash advance rate. This card has a cash advance interest rate of 21.74% p.a. Note that the cash advance rate applies to transactions including withdrawing money from ATMs or at the checkout, buying foreign currency and gambling or gaming.
  • Cash advance fee. If you use this account for a cash advance transaction, you’ll pay a fee worth 2% or $2.50, whichever is greater.
  • Interest-free days. If you pay your account balance in full by the due date on each statement, you’ll can get up to 44 days interest-free on business purchases.
  • Foreign transaction fees. This card charges a currency conversion rate worth 3% of the total transaction when you make purchases overseas or online with a retailer that’s based overseas.

How to apply for the NAB Rewards Business Signature Credit Card

You can apply for the NAB Rewards Business Signature online. If you have a MYOB (Mind Your Own Business) or Xero account with 12 months of business financial data, you can apply for the NAB Rewards Business Signature online in around 15 to 20 minutes. Alternatively, you can request a call from a NAB Business Banker and complete the application that way.

Before you apply, make sure you meet the eligibility criteria and have all the required information and documents on hand:

Eligibility criteria

  • Age and residency requirements. You must be at least 18 years of age and an Australian citizen or permanent resident.
  • Business structure. You can apply for this card if you’re a sole trader, someone in a partnership with up to two other partners, or a director of a company with up to five directors. Your business must also have a valid Australian Business Number (ABN) or Australian Company Number (ACN).
  • GST registration. Your business must be registered for GST for at least 12 months before you can apply for this card.
  • Minimum turnover. Your business must have an annual turnover of at least $75,000 to put in a card application.

Information and documents that you’ll need

  • Business details. This includes your ABN or ACN as well as details of any directors and shareholders.
  • Personal identification. If you’re new to NAB, you’ll also need to provide personal ID such as your driver’s license or passport.
  • Business transaction account number. If your business already banks with NAB, have your account details ready to speed up the application process.
  • MYOB or Xero logins. If you’re applying online, you’ll need to enter your login details for MYOB or Xero.
  • Financial details. If you’re not applying online via MYOB or Xero, you’ll need to provide up-to-date details of your business turnover and spending.

The NAB Rewards Business Signature card combines the convenience of a credit facility for your business with benefits, including rewards and exclusive Visa offers. Remember to consider the rates and fees of this card and compare a range of options so that you can find the right business credit card for your needs.

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2 Responses

  1. Default Gravatar
    sueMarch 7, 2019

    First time getting a business credit card and the sole purpose is for points, flights or gift cards. How does it work if we were to spend $100,000 per month? How many points do I get for that spend in that 1 month and what does that amount of point equal and buy? Can points be transferred to a family member?

    • Avatarfinder Customer Care
      JoshuaMarch 7, 2019Staff

      Hi Sue,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      If you are asking about NAB Rewards Business Signature credit card, its rewards points per $1 spent on eligible business purchases is 1.25. Thus, for a $100,000 spent, you would earn 125,000 points. Moreover, if get approved for the NAB Rewards Business Signature, then spend $4,000 on eligible business purchases within the first 60 days of account opening, you would also earn 100,000 bonus points.

      Now, the value of your NAB rewards points would depend on which offer or gift you want to redeem. To give you an example, 3 NAB Rewards is equivalent to 1.5 Velocity Points; 3 NAB Rewards is equal to 1 Asia Mile; and 3 NAB Rewards is equal to 0.015 Air New Zealand Airpoints.

      That’s just for flights. The value of NAB Rewards points would also differ for gift cards, NAB Rewards store, and other items. To learn more, you can read our guide “The best way to spend 50,000 NAB Rewards.” On that page, you will learn how you can get the most value from your hard-earned NAB Rewards points.

      According to NAB’s website, for this card, you can only transfer your points to another related body corporate or another person who holds a personal rewards card account. To transfer points, you may call NAB’s customer support.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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Rates last updated May 23rd, 2019
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