NAB Rewards Platinum Card

Information verified correct on April 26th, 2017
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Collect 80,000 bonus points when you meet the spend requirements and enjoy $0 annual fee in the first year when you apply and are approved by 31 May 2017.

The NAB Rewards Platinum Card offers up to 3 points per $1 spent, which can then be redeemed for rewards including travel, merchandise and frequent flyer points for Velocity, Cathay Pacific/Asia Miles or Air New Zealand Airpoints. 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 31 May 2017, you can get 80,000 bonus points by spending $2,500 on everyday purchases within the first 90 days. You’ll also be able to enjoy no annual fee in the first year. Note that minimum monthly repayments are required and you must be approved by 31 May 2017 to be eligible for these offers.

Product NameNAB Rewards Platinum Card
Rewards ProgramNAB Rewards
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 date31 May 2017
Annual fee$0 p.a. annual fee for the first year ($195 p.a. thereafter)
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.
$6,000
Card TypeVisa
Late Payment Fee$15
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
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
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.
$6,000
Annual Fee$0 p.a. annual fee for the first year ($195 p.a. thereafter)
Late Payment Fee$15
Over Limit Fee$0
Cash Advance Fee2% or $2.50, whichever is greater
Overseas Cash Advance Fee2% or $2.50, whichever is greater
Overseas ATM Balance check$1
Overseas ATM Withdrawal Fee$5
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
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • This card offers a $0 annual fee for the first year.
  • You can receive 80,000 bonus points when you spend $2,500 on everyday purchases within 90 days from card approval.
  • This card features a Points Booster wherein you can earn 1 point for every dollar spent on everyday purchases, but earn 2 points on purchases made in major department and hardware stores, and 3 points for spending with Webjet or when making foreign transactions overseas or online in Australia.
  • Benefit from a range of complimentary insurances such as Overseas Travel Insurance, Extended Warranty Insurance and Interstate Flight Inconvenience Insurance.
  • Enjoy Visa Front Line Access and a 24/7 access to the NAB Platinum Concierge Services.

Cons

  • A high revert annual fee of $195 applies.
  • 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 ProgramNAB Rewards
Bonus Points on Sign-up80,000
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (VISA/MC) CapUncapped
Points ExpiryNever

NAB Rewards Platinum Card review

This premium rewards card offers points for everyday spending, with a “Points Booster” 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 the usual array of merchandise, gift cards and experiences, you can redeem points for travel rewards directly through Webjet, or transfer them to your Velocity, Cathay Pacific Asia Miles or Air New Zealand Airpoints frequent flyer account.

The NAB Rewards Platinum Card also offers seven complimentary insurances, including overseas travel insurance when you spend $500 or more of your pre-booked travel using your card. It has a standard variable purchase rate of 19.99% p.a. and an annual fee of $195 that’s waived in the first year if you apply by 31 May 2017.

Benefits of the NAB Rewards Platinum Card

Here are the highlights of this premium NAB credit card:

  • 80,000 bonus points offer. Apply by 31 May 2017 and spend $2,500 on purchases within 90 days and you’ll unlock 80,000 bonus points.
  • $0 annual fee in the first year. This card waives the standard $195 annual fee for new customers when you apply and are approved by 31 May 2017.
  • Rewards program. This card provides membership to the NAB Rewards program and allows you to earn between 1 and 3 points per $1 spent. 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 4.99% 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 of 21.74% p.a. (variable). Note 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. 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:

  • Annual fee. This card has a standard annual fee of $195 which is waived for the first year.
  • 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 interest-free days on purchases of up to 44 days on 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 advance transaction, you’ll pay a fee worth 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 offers up to 3 rewards points per $1 spent and a range of complimentary extras, including travel insurance. But with a high purchase rate of 19.99% p.a. (variable) and a standard annual fee of $195, 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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12 Responses to NAB Rewards Platinum Card

  1. Default Gravatar
    loan | April 23, 2017

    1. Is there minimum spending per month?
    2. If I sign up and the credit card is not for me, can I cancel ti anytime without exiting fee?

    • Staff
      Anndy | April 23, 2017

      Hi Loan,

      Thanks for your questions.

      For NAB Rewards Platinum Card, there is no required minimum spending per month. However, for the purpose of earning the 80,000 bonus points, one of the criteria is for you to spend at least $2,500 on purchases within 90 days.

      You can cancel your card any time, at no cost. You can follow our guide on this page for more information on how to properly cancel a card.

      Cheers,
      Anndy

  2. Default Gravatar
    Marie | April 23, 2017

    Can you have an additional card holder on this card

    • Staff
      Anndy | April 23, 2017

      Hi Marie,

      Thanks for your question.

      With NAB Rewards Platinum Card, you can get one (1) additional card at no extra cost.

      Cheers,
      Anndy

  3. Default Gravatar
    jb | April 17, 2017

    Hi-
    Once I get the card and spend the $2500 in less than 90 days:
    a- when are the points credited?
    b- can the $2500 be used in any sort of transaction? (i.e food, rent, petrol, etc)

    thanks

    • Staff
      Anndy | April 18, 2017

      Hi JB,

      Thanks for your question.

      If you qualify for the NAB Rewards Credit Card offer of 80,000 NAB Rewards bonus points, the points will be credited to your account within 3 months of meeting the eligibility criteria.

      The minimum spend of $2500, applies to everyday purchases for food, petrol and other products or services but excluding transactions NAB decides are wholly or partly for gambling or gaming purchases.

      Cheers,
      Anndy

  4. Default Gravatar
    N | April 10, 2017

    Is this offer of 80 000 points available for NAB classic banking customers (i.e non-credit) whom have never had a credit card with NAB?

    Also if you cancelled the card within 12 months what fee is imposed if any?

    • Staff
      Anndy | April 10, 2017

      Hi N,

      Thanks for your question.

      The bonus offer for NAB Rewards Platinum Card is not available when closing or transferring another NAB credit card. Since you have never had a NAB credit card before, you may be eligible to receive this offer, subject to other eligibility criteria.

      You can cancel your card any time at no cost. However, please note that if you cancel before the points are credited to your account, you may no longer be eligible to receive them.

      Cheers,
      Anndy

  5. Default Gravatar
    J. | March 29, 2017

    I recently applied and got approved and it is showing on my Nab apps. I will need to use around 5k in a few days, but I don’t think my credit card will arrive on time. Would I be able to use contactless and pay through my phone? It is a large amount.

    • Staff
      Anndy | March 30, 2017

      Hi J.New,

      Thanks for your question.

      Some NAB Visa credit cards can be set up for NAB Pay immediately after you’ve been Approved and the account has been opened. If you’re the primary cardholder, NAB will provide you with important information, including your contract documentation, via the NAB Mobile Banking App.

      Kindly note that contactless payment like Visa payWave generally only applies to purchases under $100. For purchases $100 or more, you’ll need to wait for your PIN to arrive in the mail. NAB will consider the first transaction on your account as acceptance of your contract documentation.

      For more information regarding the use of your card details before the plastic arrives, please call NAB directly.

      Cheers,
      Anndy

  6. Default Gravatar
    | March 17, 2017

    Is this offer available for existing NAB customers?

    • Staff
      Jason | March 17, 2017

      Hi Luke,

      Thank you for your enquiry.

      The bonus points offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB offer.
      Please check out this link for other rewards credit card options that has bonus points offers.

      Kind regards,
      Jason

Credit Cards Comparison

Rates last updated April 26th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first three months. Plus, save with a long-term balance transfer offer and a reduced annual fee in the first year.
20.74% p.a. 0% p.a. for 18 months with 1.5% balance transfer fee $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Premium Card
An introductory rate of 0% p.a. for 24 months on balance transfers combined with premium benefits such as travel insurance covers.
19.74% p.a. 0% p.a. for 24 months with 3% balance transfer fee $90 p.a. Go to site More info

* 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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