🎂 Turned 31 this year? Get health insurance before your price rises.
Get cover

NAB Velocity Rewards Credit Card Details

Earn 0.5 Velocity Points per $1 spent plus, up to 44 days interest-free on purchases.

No longer offered in the market

The NAB Velocity credit card is no longer available for new applications. However, we’ve kept the information online for the benefit of existing customers and for those who are interested.

You can compare the current range of NAB credit cards here.

The NAB Velocity Rewards Card is a Visa credit card with Visa payWave functionality and access to exclusive pre-sale tickets and entertainment deals through Visa Entertainment.

You can also use this card to earn Velocity Points as you spend, which you can redeem for flights with Virgin Australia and its airline partners, accommodation, car hire and a variety of products from the Velocity eStore.

The NAB Velocity Rewards Credit Card review

NAB Velocity Rewards Card offers a low interest rate on balance transfers which could help you consolidate and pay down any existing credit cards debts.

Cardholders can earn points as they spend, with an earn rate of 0.5 Velocity points for every dollar spent on eligible purchases. The points are capped at a $1,500 spend per statement period, they are not restricted by an expiry date.

Cardholders can also take advantage of up to 44 interest-free days on purchases when they pay their balance in full each month.

Benefits of using the NAB Velocity Rewards Credit Card

  • Rewards program. Cardholders can earn 0.5 Velocity points for every dollar spent on eligible purchases, capped at $3,000 spend per statement period. Velocity Points don’t expire (as long as you earn or redeem them at least once every 24 months).
  • Interest-free days. If cardholders pay their balance in full and do not carry a balance transfer debt, they can enjoy up to 44 interest-free days on purchases.
  • Additional cardholder fee. Customers can add an additional cardholder at no extra cost.

Features of the NAB Velocity Rewards Credit Card

  • Interest rate on purchases. Purchases attract an interest rate of 19.99% p.a.
  • Balance transfer. You can take advantage of a 4.99% p.a. interest rate for 6 months on balance transfers to consolidate non-NAB credit card or store card debt (reverts to the standard cash advance rate thereafter). Note that minimum monthly repayments are required.
  • Interest rate for cash advances. The card accrues 21.74% p.a. on cash advances.
  • Annual fee. The annual fee on the card is $95.
  • Minimum credit limit. This card has a minimum credit limit of $500.
  • Other features. The card offers unique features of Visa cards, which includes payWave and Visa Entertainment offers.

Frequently asked questions

Back to top
Was this content helpful to you? No  Yes

Related Posts

Credit Card Offers

Important Information*
Westpac Low Rate Card
Westpac Low Rate Card

Interest rate

13.49

Annual fee

59
HSBC Platinum Credit Card
HSBC Platinum Credit Card

Interest rate

19.99

Annual fee

129
St.George Vertigo Platinum - Online Offer
St.George Vertigo Platinum - Online Offer

Interest rate

12.74

Annual fee

99

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

20 Responses

  1. Default Gravatar
    AnthonyFebruary 9, 2017

    Do I get complimentary travel insurance with this card

    • finder Customer Care
      LouFebruary 9, 2017Staff

      Hi Anthony,

      Thanks for your question.

      Unfortunately, the NAB Velocity Rewards Credit Card doesn’t come with a complimentary travel insurance cover.

      You may want to check this page to compare credit cards with complimentary insurance.

      Cheers,
      Anndy

  2. Default Gravatar
    TrudiFebruary 25, 2016

    Are the velocity points earned able to be redeemable with Virgin partners i.e Air New Zealand

    • finder Customer Care
      SallyFebruary 26, 2016Staff

      Hi Trudi,

      Thanks for your question.

      Yes, you can redeem your Velocity Points for flight reward seats with Virgin’s airline partners. Some of these partners include Air New Zealand, Delta Airlines, Etihad Airways, Singapore Airlines, SilkAir, Virgin America, Virgin Samoa, Virgin Atlantic, Hawaiian Airlines, Airberlin and South African Airways.

      The rewards you’re eligible to redeem depend on the partner airline and how you redeem the points (e.g. over the phone or online).

      I hope this has helped.

      Cheers,

      Sally

  3. Default Gravatar
    MickJanuary 2, 2016

    How do I check my Velocity point balance?

    • finder Customer Care
      SallyJanuary 4, 2016Staff

      Hi Mick,

      Thanks for getting in touch.

      You can check your Velocity point balance by signing into your online Velocity account via the Velocity website. When you signed up for the program, you should’ve received a membership number and password that you’ll need to sign in.

      If not, you can contact Velocity on 13 18 75 to confirm your login information.

      I hope this has helped.

      Cheers,

      Sally

  4. Default Gravatar
    ShaunOctober 8, 2014

    Hello, I am looking for a credit card. I have a velocity membership. I was wondering which card(s) would offer the most in gaining points and overall being a better card?

    • finder Customer Care
      ElizabethOctober 8, 2014Staff

      Hi Shaun,

      Thanks for your question.

      You might want to take a look at this page that compares a range of credit cards that allow you to earn Velocity points.

      Hope this has helped.

      Thanks,

      Elizabeth

  5. Default Gravatar
    philipDecember 25, 2013

    1. If I switch from Velocity Rewards NAB VISA card to the Virgin Australia Velocity High Flyer VISA Card can I retain the same VISA card number?
    2.Are Velocity points earned on the same purchases for both cards?
    3. As I need 2 cards am I charged for 1 or 2 cards per annum?

    • finder Customer Care
      JacobDecember 26, 2013Staff

      Hi Phillip.

      Thanks for your question.

      1. You will be issued a new card number if you change accounts.
      2. Points accrue in accordance to the Velocity frequent flyer program terms and conditions, which applies to both cards.
      3. There is an additional cardholder fee when you request a second Virgin Australia High Flyer Visa Card. You can find it listed on the card’s review and application page in the table at the bottom of the review.

      I hope this helps.

  6. Default Gravatar
    ValNovember 19, 2012

    Thanks for yor answer Jacob. However, I have in front of me two cards which have Platinum on them… Been member for few years…. And they were reissued in the last year ( ie before they had expired). Who should I talk to regarding the conditions and benefits etc available to me? They are Visa/AMEX linked, NAB, Velocity. I have found information about Platinum cards, but need to know that it applies to mine. Thanks

    • finder Customer Care
      JacobNovember 20, 2012Staff

      Hi Val. Best to speak to a representative of NAB. Thanks.

  7. Default Gravatar
    ValNovember 19, 2012

    Further to the question I just posted. If I am eligible for complimentary travel insurance using my AMEX, which is part of a Platinum AMEX/Visa NAB Velocity combo… And the return international ticket was bought using AMEX, but the “side” trip was bought using the Visa (as paying with the AMEX is not an option, ie the airline would not accept AMEX), is the complimentary travel insurance still available for all of the trip? Thanks, Val

    • finder Customer Care
      JacobJanuary 8, 2013Staff

      Hi Val. It shouldn’t matter which card you use to make the purchase as both the Visa and the American Express cards are linked to the one credit account. Just be sure to check the fine print about the period of cover while overseas. Thanks for your question.

  8. Default Gravatar
    ValNovember 19, 2012

    Hi. I cannot locate the details for the Platinum Velocity AMEX Visa NAB cards which I have. I am specifically interested to know if complimentary travel insurance is one of the features. And if it is, where do I find the details about the travel insurance conditions? Thanks

    • finder Customer Care
      JacobNovember 19, 2012Staff

      Hi Val. Currently, NAB and Virgin do not offer a Velocity Platinum Card. The closest thing to it is the NAB Velocity Gold Credit Card. You can check a comparison of this card at the end of this review. Alternatively here is the Velocity Rewards NAB Premium Card Product Review.

  9. Default Gravatar
    ChantalOctober 16, 2012

    Hi,
    I would like to transfer my card from Nab Qantas Card to Velocity at no additional fee, how do I go about this

    Thank You

    • finder Customer Care
      JacobOctober 16, 2012Staff

      Hi Chantal. Balance transfers taking advantage of the low interest promotion are only allowed between two non-related credit cards, so you won’t be able to take advantage of a balance transfer low interest promotion between two NAB cards. But this does not mean you can’t apply for the Velocity NAB Card and close your existing card there is no fee for doing this. Thanks for your question.

  10. Default Gravatar
    WendyMay 3, 2012

    I am interested in one of these cards but just don’t know which one is best for me. Could you provide me with some more information on both. I am a velocity rewards member and am heading overseas this year with Virgin. Is there an extra charge on the American Express card as opposed to the visa card i.e. extra fees each time you use it.

    Thanks
    Wendy

    • finder Customer Care
      JacobApril 8, 2013Staff

      Hi Wendy. Thanks for your question, sorry about the delay in getting back to you (hope you had a great trip!). So although this question is probably not relevant any more – for the benefit of our other users: American Express cards do typically attract higher fees and charges than Visa and MasterCard cards; however, American Express Cards do offer higher earn rates and enhanced rewards options. With this particular account, you don’t have to choose between one card or the other, you’re given both. Customers are given both cards so they can use the card that will suit the circumstance where they’re making a purchase. The American Express has a higher earn rate but is not accepted in as many locations as the Visa Card. Where you’re AMEX is accepted, use that and you’ll get a higher earn rates, when you shop at a merchant that does not accept AMEX cards, use you Visa. You will still earn points with the Visa. Having two cards linked to the one account (a companion card) gives customers the opportunity to maximise their points earning while still being able to shop at a large variety of locations. Jacob.

Ask a question
Go to site