NAB Rewards Signature

Offers up to 140,000 bonus NAB Rewards Points and complimentary insurance, with a $295 annual fee.

The NAB Rewards Signature is suited to big spenders and earners who want flexible rewards through a credit card, with a high minimum credit limit of $15,000 and up to 3.75 points per $1 on eligible spending. The bonus points offer is split into two parts, giving you 100,000 bonus NAB Rewards Points when you spend $3,000 on everyday purchases in the first 60 days from approval – and another 40,000 bonus points when you keep the card for at least 12 months.

You can redeem points for travel, retail items and point transfers to Velocity, Asia Miles, Singapore Airlines KrisFlyer, Air New Zealand Airpoints or Flybuys. But keep in mind that you’ll need to pay the $295 annual fee twice if you want to collect all the bonus points on offer.

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Amy Bradney-George

Last Updated Feb 23, 2022

140,000

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 p.a.	0% for 12 months with 3% balance transfer fee
Balance transfer revert rate	Cash Advance Rate (21.74% p.a.)
Balance transfer limit	90% of available limit
Purchase rate p.a.	19.99%
Annual fee	$295
Interest-free period	Up to 44 days on purchases
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 140,000 bonus NAB Rewards Points
A range of complimentary insurance covers
0% p.a. interest rate on balance transfers for 12 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 3% fee applies to any balances transferred

Rewards program	NAB Rewards
Bonus points	140,000
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

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. She is also the editorial lead for Finder Green, covering sustainability across different industries. Her work has appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy also has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The NAB Rewards Signature credit card currently has the largest bonus points offer and most competitive earn rate for any card in the NAB Rewards range. With it, you’ll earn 1.25 NAB Rewards Points per $1 on most everyday spending – with a higher rate of up to 2.5 points per $1 at major department and hardware stores (including Kmart, Target and Bunnings), and 3.75 points per $1 for overseas spending or travel bookings with Webjet.

To give you an idea of the value you can get from the current bonus points offer, you could redeem 140,000 NAB Rewards points for $650 of Coles gift cards (132,660 points) or 70,000 Velocity Points – more than enough for a return economy flight from Sydney to Queenstown (from 35,600 points) or a return business class flight from Melbourne to the Sunshine Coast (from 47,000 points). You’ll also get access to 6 types of complimentary insurance cover, a concierge service and Visa Premium offers and perks – which could help offset the card’s annual fee.

How to apply

You can apply for this card online in 15 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.
Australian residency status. 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 points offer. You can give your points balance a boost of 100,000 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 40,000 bonus points will be credited in the 13th month, which means you need to keep your account open and pay the second-year annual fee. There's no specified expiry date for this offer, but NAB may vary or end it at any time.
Rewards program. With this card, you earn 1.25 points per $1 spent on most everyday purchases, 2.5 points per $1 on purchases made at major department and hardware stores (including Myer, David Jones, Kmart, Target, Big W, Bunnings, Mitre 10, Home Timber and Hardware, Stratco and Total Tools) and 3.75 points per $1 for eligible spending with Webjet, when you're overseas or when you make overseas purchases online. Transactions that don't earn points include cash advances, interest charges and other bank fees, government transactions, balance transfers and gambling.

Complimentary purchase insurances. The NAB Rewards Signature gives you access to 6 complimentary insurance options, with full details listed in the NAB Card Insurance Policy Information Booklet that's available through the NAB website. Here's a rundown of the types of cover you'll get access to:
- Purchase protection insurance
- Extended warranty insurance
- Car rental excess in Australia insurance
- Interstate flight inconvenience insurance
- Transit accident insurance
- International travel insurance
Balance transfer offer. The NAB Rewards Signature offers 0% p.a. for the first 12 months, with a one-time 3% 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