NAB Rewards Platinum Card

14 July 2017

Collect an introductory 50,000 bonus points in the first 60 days when you meet the spend requirements. Plus earn at least 2 points per $1 spent in the first 6 months (capped at 10,000 per month).

The NAB Rewards Platinum Card earns points that you can redeem for rewards including travel, merchandise and frequent flyer points with Velocity, Cathay Pacific/Asia Miles or the Air New Zealand Airpoints program. It also comes with seven complimentary insurances, including overseas travel insurance and purchase protection insurance.

If you apply and are approved for this card by 1 October 2017, you can get 50,000 bonus points by spending $2,500 on everyday purchases within the first 60 days. You’ll also be able to enjoy 0% p.a. for 6 months on balance transfers if you apply for the balance transfer at the time of the credit card application. Note that minimum monthly repayments are required.

NAB Rewards Platinum Card review

This premium rewards card offers points for everyday spending, with a “Points Booster” feature that doubles or triples the earn rate. As a result, you can earn 3 points per $1 for spending with Webjet, when making foreign transactions overseas or online in Australia, and 2 points per $1 on purchases made in major department and hardware stores such as David Jones and Bunnings. You’ll also earn 1 point per $1 spent on all other eligible purchases.

The NAB Rewards program also offers a wide range of ways to use points. As well as merchandise, gift cards and experiences, you can redeem points for travel rewards directly through Webjet, or transfer them to your Velocity, Asia Miles or Air New Zealand Airpoints frequent flyer account.

As well as rewards, you can enjoy seven complimentary insurances, including overseas travel insurance when you spend $500 or more of your pre-booked travel using your NAB Rewards Platinum card. It has a standard variable purchase rate of 19.99% p.a. and a promotional balance transfer offer if you apply by 1 October 2017.

Benefits of the NAB Rewards Platinum Card

Some of the standout features you can enjoy with the NAB Rewards Platinum include:

• 50,000 bonus points offer. Apply by 1 October 2017 and spend $2,500 on eligible purchases within 60 days and you’ll unlock 50,000 bonus points.
• Promotional "Double Points" offer. In the first 6 months you have this card, you'll earn an additional bonus point per $1 spent on eligible purchases (capped at 10,000 per month and 60,000 in total). This gives you a promotional earn rate of 2 points per $1. After the promotional period ends, an earn rate of 1 point per $1 spent applies to eligible purchases. Please note that this offer is separate to the Points Booster.

• Rewards program. When you have earned enough points, you can redeem them for a range of rewards including travel with Webjet, frequent flyer points, merchandise, experiences and cash back.
• Frequent flyer rewards. If you want to earn more frequent flyer points, this program allows you to transfer a minimum of 3,000 NAB Rewards points for 1,500 Velocity Points, 1,000 Asia Miles or $15 Air New Zealand Airpoints Dollars. To simplify the transfer rates, this means you get 1.5 Velocity Points, 1 Asia Mile or $0.015 Airpoints Dollars for every 3 NAB Rewards points.
• Balance transfer offer. The NAB Rewards Platinum Card offers a balance transfer rate of 0% p.a. for the first 6 months. At the end of this period, any unpaid balances will then attract the standard variable cash advance rate. Note that interest-free days do not apply while you have a balance transfer.
• Complimentary travel insurance. This card offers comprehensive overseas travel and medical insurance when you pay for at least $500 of your pre-booked travel with your card, issued by QBE. It also offers transport accident insurance, interstate flight insurance and domestic hotel burglary cover.
• Complimentary purchase insurances. Eligible purchases made with the NAB Rewards Platinum Card are covered by purchase protection insurance against theft, loss or damage for up to 3 months, extended warranty insurance for up to 12 months and price protection insurance to help you get the lowest price for your purchases. Terms and conditions apply for all insurance cover, so make sure you read the NAB Card Insurance Policy booklet for full details of each policy.
• Visa benefits. The NAB Rewards Platinum Card is a Visa credit card that offers contactless payments via Visa payWave, exclusive ticket and experience offers through Visa Entertainment, and extra security online through Verified by Visa. As a platinum card, you also gain access to a variety of premium Visa benefits, including priority access to pre-released tickets through Visa Front Line and a concierge service.

Features of the NAB Rewards Platinum Card

If you’re interested in the NAB Rewards Platinum Card, make sure you also consider the following details:

• Annual fee. This card has a standard annual fee of $195.
• Purchase rate. There is a 19.99% p.a. standard variable interest rate for purchases made on this card.
• Interest-free days. You can enjoy up to 44 interest-free days on purchases with the NAB Rewards Platinum Card if you pay your balance in full by the due date on each statement.
• Cash advance rate. The standard variable rate for cash advance transactions is 21.74% p.a.
• Cash advance fee. If you use the NAB Rewards Platinum Card to get cash out or for another type of cash equivalent transaction, you’ll pay a fee of 2% or $2.50, whichever is greater.
• Minimum credit limit. The minimum credit limit available is $6,000 for this platinum credit card.
• International transaction fee. A fee worth 3% of the total transaction applies for purchases made overseas or online in a foreign currency.

How to apply for the NAB Rewards Platinum Card

You can apply for the NAB Rewards Platinum Card online in around 15 minutes. Before getting started, make sure you meet the eligibility requirements and have all your relevant details and documents on hand to help speed up the process.

Eligibility criteria

• Age. You must be at least 18 years of age.
• Residency status. You must be an Australian citizen or permanent resident.

Required documents

• Personal information. This includes your full name, date of birth, marital status, residential address, email address and contact number. You’re also required to provide identification, such as your driver’s licence number.
• Employment details. This includes your employer’s name and contact details, your role and the length of time you’ve worked there. You’ll also need to provide details of your salary and may be asked to submit recent payslips or bank statements.
• Financial details. As well as your income, this includes details of any assets such as savings, shares or investments. You’ll also need to provide information about existing cards, loans, other debts and ongoing financial responsibilities and expenses (ie groceries and fuel).

The NAB Rewards Platinum Card is a premium rewards card that lets you earn at least 2 points on every $1 rewards points per $1 spent and a range of complimentary extras, including travel insurance. As it's not the only rewards card on the market, though, it’s worth comparing a range of other reward options so you can find the right card for your circumstances and needs.

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