NAB Rewards Signature review

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Earn 90,000 bonus points on a new NAB Rewards Signature when you spend $4,000 on everyday purchases within 60 days of account opening.

The NAB Rewards Signature gives you the flexibility to redeem your points for a variety of rewards including travel, merchandise and frequent flyer points for Velocity, Cathay Pacific/Asia Miles or Air New Zealand Airpoints. This card also comes with seven complimentary insurances, including overseas travel insurance and purchase protection insurance.

Apply and get approved for the NAB Rewards Signature and you will earn a bonus 90,000 points when you spend at least $4,000 on everyday purchases within the first 60 days. For your regular spending you will earn 1.25 NAB Rewards points per $1 spent, uncapped.

Product NameNAB Rewards Signature Card
Rewards ProgramNAB Rewards
Balance transfer rate (p.a.)0% p.a. for 6 months with 2% balance transfer fee
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.
Annual fee$295 p.a.
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.
$15,000
Card TypeVisa
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
Minimum Age18 years of age
Available To Temporary ResidentsYes - Conditions apply
Annual fee$295 p.a.
Minimum Monthly Repayment2% or $25 whichever is greater
Late Payment Fee$15
Cash Advance Fee2% or $2.50, whichever is greater
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee
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

Pros

  • Get 90,000 bonus points when you spend $4,000 on everyday purchases in the first 60 days of account opening.
  • Receive 0% p.a. interest rate on balance transfers for 6 months.
  • This card comes with complimentary travel insurance and purchase protection insurance.

Cons

  • Standard balance transfer rate reverts to a high cash advance rate, currently 21.74% p.a.
  • You only get up to 44 days interest-free on purchases.
  • A one-time 2% balance transfer fee applies.
Rewards ProgramNAB Rewards
Bonus Points90,000 bonus points
Rewards Points per $ spent (VISA/MC)1.25
Rewards Points per $ (VISA/MC) CapUncapped

Benefits and features of the of the NAB Rewards Signature credit card

The highlights of this NAB credit card include:

  • 90,000 bonus points offer. Earn a bonus 90,000 NAB Rewards points when you spend $4,000 on everyday purchases in the first 60 days from account opening. NAB may vary or end this offer any time. As an example, you could redeem 90,000 NAB Rewards points for 45,000 Velocity Points or over $450 in Coles gift cards (86,540 points).
  • 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.
  • 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, issued by QBE.
  • 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. Enjoy access to a concierge service 24/7 for help with travel recommendations, bookings and a wide range of other lifestyle services. This service is provided by Visa Worldwide.
  • Balance transfer rate. The NAB Rewards Signature offers 0% p.a. on balance transfers for 6 months with a 2% balance transfer fee when you apply to transfer debt from non-NAB credit card or store card accounts (reverts to the standard cash advance rate thereafter). Note that minimum repayments apply. At the end of the introductory period, any debt remaining from the transfer will attract the standard variable cash advance interest rate. You can transfer balances from Australian cards not issued by NAB.
  • Eligible for Samsung Pay. You can link your NAB credit card with Samsung Pay to make contactless payments using your qualifying Samsung device at the checkout.

What transactions don’t earn points?

With the NAB Rewards Signature, you’ll earn points on most everyday purchases. However, you won’t earn points a number of transactions including cash advances, interest charges and other bank fees, payments to the Australian Taxation Office, balance transfers and gambling. Refer to the NAB Rewards terms and conditions booklet for full details.

Rates and fees of the NAB Rewards Signature credit card

Consider these costs to decide if the NAB Rewards Signature credit card is right for you:

  • Annual fee. This card has an annual fee of $295.
  • Purchase rate. This card has a variable purchase rate of 19.99% p.a.
  • Interest-free days. 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 advance rate. This card has a standard variable cash advance interest rate of 21.74% p.a.
  • Cash advance fee. If you use your card for a cash advance transaction, a fee worth 2% or $2.50, whichever is greater applies.

How to apply for the NAB Rewards Signature

You can apply for the NAB Rewards Signature online in a few minutes. Before you get started, make sure you meet the following eligibility requirements.

Eligibility criteria checklist

  • How old are you? You must be at least 18 years old to apply.
  • What is your residency status? You can apply for this card as an Australian citizen, permanent resident or temporary resident. If you are not a citizen or permanent resident, you will need to provide the last overseas address where you lived, as well as other details of your residency status.

Information and documents you’ll need

Keep these details handy to help speed up the application process.

  • Personal information. You’ll need to provide your full name, date of birth, street address, email address, phone number and driver's licence number. You’ll also need to include your marital status and details of any dependants.
  • Employment details. This includes your current job, salary, length of employment and your employer’s contact details. You also need to provide recent employment history.
  • Financial details. If you have any other forms of income or assets (such as savings or shares), you’ll need to provide these details in your application. You also need to include information on any existing loans and debts, as well as an estimate of your monthly personal expenses.

The NAB Rewards Signature offers a range of premium features, uncapped points and flexible rewards. Remember to weigh these benefits against the costs and fees of this card to help you decide if it’s the right option for your needs.

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2 Responses

  1. Default Gravatar
    sheilaSeptember 3, 2017

    I just need a chance of getting my credit card back

    • Default Gravatar
      JonathanSeptember 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

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Rates last updated August 21st, 2018
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* 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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