The NAB Rewards Signature has one of the biggest bonus points offers on the market and earns 1.25 NAB Rewards Points per $1 on most everyday spending. It also has higher rates 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. Rewards include gift cards, retail items and point transfers to Velocity, Asia Miles, Singapore Airlines KrisFlyer, Air New Zealand Airpoints, Flybuys and Accor Live Limitless (ALL). It also offers perks similar to what you can get with other premium credit cards, including a concierge service and Visa Premium offers. Weighing the value of these features against the card's annual fee can help you decide if it's right for you.
NAB Rewards Signature
- Bonus points
- Purchase rate
- 19.99% p.a.
- Reward points per $ spent
- Annual fee for the first year ($295 p.a. thereafter)
- $145 p.a.
Up to 160,000 bonus NAB Rewards Points
Discounted $145 first-year annual fee
Offers between 1.25 and 3.75 NAB Rewards Points per $1 spent
0% p.a. on balance transfers for 12 months (with a 3% balance transfer fee)
Need to keep the card for at least 12 months to get the full amount of bonus points
$295 annual fee after the first year, which is higher than some other cards
3% international transaction fee
|Product Name||NAB Rewards Signature Card|
|Balance transfer rate p.a.||0% for 12 months with 3% balance transfer fee, then 21.74%|
|Balance transfer limit||90% of available limit|
|Purchase rate p.a.||19.99%|
|Interest-free period||Up to 44 days on purchases|
|Cash advance rate p.a.||21.74%|
|Min credit limit||$15,000|
|Max credit limit||$75,000|
|Available to temporary residents||Yes - Conditions apply|
|Rewards program||NAB Rewards|
|Rewards points per $ spent||1.25|
|Annual fee||$145 first year ($295 after)|
|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||3% or $3, whichever is greater|
|Overseas ATM withdrawal fee||$5|
How to applyYou can apply for this card online in about 15 minutes and get a response in around 60 seconds. Before you start, check if you meet the eligibility requirements and have the necessary information ready to complete the application:
- New cardholder. To be eligible for the bonus points offer, you must be a new customer. This means you cannot hold or have held a NAB Rewards card in the previous 18 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.
- 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.
- Bonus points offer. You'll get 120,000 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.
- Discounted first-year annual fee. This card offers a reduced annual fee of $145 for the first year, which goes to $295 p.a. after that.
- 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.
- 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. Outside of any promotions, this card charges an annual fee of $295 p.a.
- Purchase rate. The purchase rate on this card is 19.99% p.a. If you regularly pay less than the total shown on each statement, you may want to consider a low rate credit card that charges 15% p.a. or less.
- Interest-free days. This card offers up to 44 days interest-free on purchases when you pay your total balance by the due date on your statement. If your statement shows an "interest free days payment" that's different to the total balance, you'll also get interest-free days on purchases if you pay that amount by the statement due date.
- Cash advances. This card has a 21.74% p.a. variable cash advance interest rate when you use it to withdraw cash from an ATM or make other cash advance transactions. Cash advances also attract a fee worth 3% or $3, whichever is greater.
- International transaction fee. A fee of 3% applies for transactions you make overseas or online with a business that's based overseas.
- Minimum credit limit. You can apply for a minimum credit limit of $15,000.