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NAB Rewards Signature

Last updated: 17 January 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 (Visa/Mastercard)

$295 p.a.

Annual fee

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 balance
Purchase rate (p.a.)	19.99% p.a.
Annual fee	$295 p.a.
Interest Free Period	44 days
Cash advance rate (p.a.)	21.74% p.a.
Min credit limit	$15,000
Card Type	Visa
Foreign Currency Conversion Fee (Visa/Mastercard)	3% of transaction value
Complimentary Travel Insurance	Yes

Minimum Age	18 years of age
Available to Temporary Residents	Yes - Conditions apply
Joint Application	No

Pros

Up to 120,000 bonus NAB Rewards Points
Complimentary travel insurance and purchase protection insurance
0% 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 bonus points
Rewards Points per $ spent (Visa/Mastercard)	1.25

Annual fee	$295 p.a.
Minimum Monthly Repayment	2% of the closing balance or $25, whichever is greater
Late Payment Fee	$15
Foreign Currency Conversion Fee (Visa/Mastercard)	3% of transaction value
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 Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.

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. You can save with up to 44 interest-free days on purchases when you pay your balance in full by the due date on each statement. Note that you won't receive interest-free days on purchases while you have a balance transfer.
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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6 Comments

Richard
August 22, 2019

Hi

Can I add an additional card holder, is there a fee?

Cheers
Richard

Reply
- finder Customer Care
  
  Jeni
  August 23, 2019
  
  Hi Richard,
  
  Thank you for getting in touch with Finder.
  
  This card doesn’t allow to add an additional cardholder. You may check out this page for credit cards with free additional cardholders.
  
  Please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.
  
  I hope this helps.
  
  Thank you and have a wonderful day!
  
  Cheers,
  Jeni
  
  Reply
Kety
May 15, 2019

Hi,
My son is about to apply for NAB signiture rewards credit card. As I would like to apply as well for the second card holder is that to do at the same time both of us or to wait while my son get the approval?

Kety

Reply
- finder Customer Care
  
  Nikki
  May 16, 2019
  
  Hi Kety,
  
  Thanks for reaching out to Finder! It’s good to know that your son is looking to apply for the NAB signature rewards card. When your son has been approved of this card, he then can request for an additional cardholder. You need not apply since he just needs to request a second card that you can use and it will bear your name on the card. Please note that you will be sharing the credit limit and/or he can assign how much credit limit to put on your card. All transactions using the additional card will be the responsibility of the primary cardholder. As a friendly reminder, read the eligibility criteria, features, and details of the card, as well as the Product Disclosure Statement and Terms and Conditions of the card before making a decision and consider whether the product is right for you.
  
  Hope this was helpful. Don’t hesitate to message us back if you have more questions.
  
  With regards,
  Nikki
  
  Reply
sheila
September 3, 2017

I just need a chance of getting my credit card back

Reply
- Jonathan
  September 5, 2017
  
  Hello Sheila,
  
  Thank you for your question.
  
  My understanding is that you wanted to have reactivate your old credit card. If this is correct, usually some card issuers may allow this request in a certain span of time, provided it hasn’t been deactivated due to default or other bank-initiated closures.
  
  Given that it was due to delinquency, what we can recommend is for you to make payment arrangements with your provider. On strides, you may also follow our advice on how to improve your credit.
  
  Alternatively, we have written some credit options that you may qualify for should you need time to repair your credit.
  
  Hope this helps.
  
  Cheers,
  Jonathan
  
  Reply

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