NAB Rewards Signature

Last updated: Jul 16, 2020

Earn up to 120,000 bonus points on a new NAB Rewards Signature and enjoy the protection of seven complimentary insurance covers.

The NAB Rewards Signature gives you the flexibility to redeem your points for travel, merchandise and frequent flyer points for Velocity, Asia Miles or Air New Zealand Airpoints.

Apply for a new NAB Rewards Signature and you will earn 90,000 bonus points when you spend at least $3,000 on everyday purchases within the first 60 days. You'll earn another 30,000 points when you've kept your card open for over 12 months. For your regular spending, you'll enjoy an uncapped earn rate of 1.25 NAB Rewards points per $1 spent.

You can also shop and travel with peace of mind with seven complimentary insurances, including overseas travel insurance and purchase protection insurance.

120,000

Bonus points

19.99% p.a.

Purchase rate

1.25

Reward points

Per $ spent

$295 p.a.

Annual fee

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Details

Product Name	NAB Rewards Signature Card
Rewards program	NAB Rewards
Balance transfer rate	0% p.a. for 6 months with 2% balance transfer fee
Balance transfer revert rate	Cash Advance Rate (21.74% p.a.)
Balance transfer limit	90% of available limit
Purchase rate	19.99% p.a.
Annual fee	$295
Interest-free period	44 days
Cash advance rate	21.74% p.a.
Min credit limit	$15,000
Max credit limit	$75,000
Card type	Visa
Foreign currency conversion fee	3%

Available to temporary residents	Yes - Conditions apply
Joint application	Yes

Pros

Up to 120,000 bonus NAB Rewards Points
Complimentary travel insurance and purchase protection insurance
0% p.a. interest rate on balance transfers for 6 months

Cons

Spend requirement to get the full amount of bonus points is tricky
Annual fee of $295 is high when compared to similar cards
A 2% fee applies to any balances transferred

Rewards program	NAB Rewards
Bonus points	120,000
Rewards points per $ spent	1.25

Annual fee	$295
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3%
Cash advance fee	2% or $2.50, whichever is greater
Overseas ATM withdrawal fee	$5

Expert review

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The NAB Rewards Signature credit card is the bank's top-tier rewards product. It has the largest bonus points offer and most competitive earn rate in the NAB Rewards range, which comes at the cost of a $295 annual fee.

To give you an idea of the points potential, you could redeem 120,000 NAB Rewards points for 60,000 Velocity Points or over $600 in Coles gift cards (115,390 points). If you prefer Qantas Points, you could consider the NAB Qantas Rewards Signature credit card.

How to apply

You can apply for this card online in 25 minutes and get a response in 60 seconds. Before you start, check if you meet the eligibility requirements and have the necessary information ready to complete the application:

Eligibility criteria

New cardholder. To be eligible for the bonus points offer, you must be a new customer, meaning you cannot hold or have held a NAB Rewards card in the previous 12 months.
Residency. You can apply if you're an Australian citizen or permanent resident. If you are not a citizen or permanent resident, you will need to have an acceptable visa. Many visas are acceptable but the following are not: Visitor Visa (exception, a Special Category Visa - NZ Citizen is acceptable), Working Holiday, Student, Exchange/gap year, Transit/short stay/seasonal, and Bridging.

Income. NAB does not explicitly state a required minimum income, but it will be factored into your application along with the rest of your financial information. You may call the customer service team to discuss your specific personal circumstances.
Age. You must be at least 18 years old to apply.
Eligible balance transfer. If you elect to transfer a balance, you can transfer up to 90% of your credit limit from Australian-issued, non-NAB cards.

Required documents

Personal details. Including your full name, date of birth, residential address, marital status and number of dependents. You'll also be asked to include proof of identification including your driver's licence number, passport or birth certificate.
Income. You'll need to confirm your annual income and may be asked to provide some recent payslips or bank statements.
Finances. As well as your income, you'll need to provide information regarding any expenses, assets or liabilities.
Employment. You'll need to confirm your current place of employment and provide your employer's contact details.
Balance transfer details. If you are planning to transfer a balance, you'll need to provide the details of that account(s), including the institution and account number.

Card benefits

Bonus Rewards Points. You can give your points balance a boost of 90,000 bonus NAB Rewards Points when you spend $3,000 on everyday purchases within 60 days of opening the account. These points will be credited to your account within 3 months of meeting the spend. The other 30,000 bonus points will be credited in the 13th month when you've kept your account open. There's no specified expiry date for this offer, but NAB may vary or end it at any time.
Rewards program. The NAB Rewards program offers a wide range of rewards including travel with Webjet, merchandise, cashback and frequent flyer points with Velocity, Singapore Airlines KrisFlyer, Asia Miles and Air New Zealand Airpoints. You'll earn 1.25 points per $1 spent on everyday purchases, double points on purchases made with partner merchants and triple points for eligible spending with Webjet, when you're overseas or when you make overseas purchases online. You won't earn points on transactions including cash advances, interest charges and other bank fees, government transactions, balance transfers and gambling.

Complimentary travel insurance. Enjoy comprehensive overseas travel and medical insurance when you pay for at least $500 of your pre-booked travel with your card. The NAB Rewards Signature also offers you transport accident insurance, interstate flight insurance and domestic hotel burglary cover. The complimentary insurances are issued by Allianz.
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.
Concierge service. Take advantage of your 24/7 concierge service for help with travel recommendations, bookings and a wide range of other lifestyle services. This service is provided by Visa Worldwide.
Balance transfer offer. The NAB Rewards Signature offers 0% p.a. for 6 months, with a one-time 2% balance transfer fee. At the end of the introductory period, any debt remaining from the transfer will attract the variable cash advance interest rate, currently 21.74% p.a., and you must still make minimum repayments.
Mobile wallets. You can link your NAB credit card with Samsung Pay, Apple Pay, Google Pay, Fitbit Pay or Garmin Pay to make contactless payments using your eligible device at the checkout.

Rates & fees

Annual fee. This card charges an annual fee of $295 p.a.
Purchase rate. If you carry a balance, your purchases will accrue interest at 19.99% p.a.

Interest-free days. Receive up to 44 interest-free days on purchases when you pay your balance in full, or if your statement shows an interest free days amount, in full, by the statement due date.
Cash advances. This card has a variable cash advance interest rate of 21.74% p.a. When you make a cash advance (such as an ATM withdrawal), you'll also be charged a fee worth 2% or $2.50 (whichever is greater).
Minimum credit limit. You can apply for a minimum credit limit of $15,000 p.a.

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NAB Rewards Signature