NAB Velocity Rewards Premium Card – Details and Application

The NAB Velocity Rewards Premium Card features a range of complimentary insurances and Velocity Points per $1 spent on eligible purchases.

No longer offered in the market

The NAB Velocity Rewards Premium 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 Premium Card combines a frequent flyer rewards program with exclusive complimentary features that are designed to give you more value when you pay with plastic.

NAB Velocity Rewards Premium Card review

The NAB Velocity Rewards Premium is a frequent flyer credit card account that allows you to earn 0.66 Velocity Points per $1 spent on eligible purchases (up to $3,000 per statement period), 0.33 points per $1 spent from $3,001 to $6,000 per statement period.

In addition to rewards, the NAB Velocity Rewards Premium offers a range of complimentary insurances, including international travel insurance and interstate flight inconvenience insurance, and premium services including Visa Front Line Access and a 24/7 concierge service. It also has an annual fee of $150.

Benefits of the NAB Velocity Rewards Premium Card

  • Velocity Frequent Flyer rewards. This card offers Velocity Frequent Flyer points for your everyday spending, earning 0.66 Velocity Points per $1 spent on eligible purchases (up to $3,000 per statement period) and then 0.33 points per $1 on eligible spend from $3,001 to $6,000 per statement period.
  • Complimentary international travel insurance. Purchase at least $500 of your prepaid travel expenses with your NAB Velocity Rewards Premium and you will qualify for overseas travel insurance, issued by QBE, for up to 6 months. This includes cover for travel cancellation, overseas medical expenses, and lost luggage or travel documents.
  • Other complimentary insurances. This card also includes interstate flight inconvenience insurance, domestic hotel burglary insurance, transport accident insurance, purchase protection insurance, price protection insurance and extended warranty coverage.
  • Visa Front Line Access. This premium Visa credit card service allows you to reserve tickets to some of the biggest events before they go on sale to the general public.

How to join Velocity for free

Features of the NAB Velocity Rewards Premium Card

  • Annual fee. This card has a $150 annual fee.
  • 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.
  • Purchase rate. The standard variable purchase rate for this card is 19.99% p.a.
  • Interest-free days. If you pay your balance in full by the due date on each statement, you can get up to 44 days interest-free on your purchases.
  • Cash advance rate. You will pay 21.74% p.a. interest on any cash advance transactions you make. This includes ATM withdrawals, foreign currency purchases and gambling transactions.
  • Cash advance fee. When you use your NAB Velocity Premium Visa or Amex card for a cash advance, you will be charged a fee of 2% or $2.50, whichever is greater.
  • International transaction fees. If you make a purchase which requires currency to be converted to Australian dollars (AUD), your account will be charged 3% of the AUD amount.
  • Late payment fee. The late payment fee is $15.
  • Duplicate statement fee. The duplicate statement fee is $7.

The NAB Velocity Rewards Premium Credit Card offers Velocity Frequent Flyer Points and a host of complimentary insurance options. However, it's important to consider the annual fee and other potential costs against those of other frequent flyer cards to decide if this product will suit your needs.

Frequently asked questions

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      55 Responses

      1. Default Gravatar
        justinApril 23, 2017

        Hi. I have noticed my virgin card is making changes to earning velocity points by no longer allowing government bills. eg rates. Does this card have those exclusions? And can I earn velocity points by using BPAY? Thanks

        • finder Customer Care
          HaroldApril 24, 2017Staff

          Hi Justin,

          Thank you for your inquiry.

          Basically, the transactions that are not considered an eligible purchase include cash advances, traveler’s cheque purchases and interest charges. These types of transactions won’t earn rewards points and may also attract additional charges. Additionally, it would be nice if you can clarify this information directly with NAB as they have the direct access with this type of information.

          I hope this information has helped.

          Cheers,
          Harold

      2. Default Gravatar
        GeoffJanuary 27, 2017

        Are you able to pay business expenses and obtain Velocity rewards points by using the NAB Velocity Rewards Premium Card?

        • finder Customer Care
          JasonJanuary 28, 2017Staff

          Hi Geoff,

          Thank you for your enquiry.

          According to NAB Velocity Rewards Premium card‘s terms and conditions, business related expenses or transactions, including payment to the Australian Taxation Office (ATO), will not earn Velocity rewards points.

          You may check out these business frequent flyer credit cards that will allow you to earn frequent flyer points for your business expenses.

          You may also check out these rewards credit cards that earn rewards points while paying your ATO or tax bills.

          I hope this helps.

          Kind regards,
          Jason

      3. Default Gravatar
        MathiasOctober 13, 2016

        Hi,

        So I already have an AMEX velocity platinum card, but realizing that I AMEX inst accepted anywhere and VISA is accepted in more places, is it possible to still get this package and not use the AMEX card (cut it up as soon as i get it) from NAB at all ? Also is this allowed to link 2 different credit cards to the one velocity account ?

        • finder Customer Care
          MayNovember 4, 2016Staff

          Hi Mathias,

          Thank you for your comment.

          Actually, AMEX is also accepted worldwide though the coverage of acceptance may not be the same as the visa.

          So long that you meet the eligibility criteria for the NAB Velocity Rewards Premium Card, yes, you can apply for this card. Once you’re approved, you will have the option not to use the AMEX card, but there may be circumstances/instances that you may need to use the card, so you will have to think again if you really have to cut it up or not.

          As for linking two different credit cards to one Velocity account, yes, that’s possible.

          Cheers,
          May

      4. Default Gravatar
        BarryJune 6, 2016

        Does the free travel insurance apply to travel within Australia?

      5. Default Gravatar
        MrApril 27, 2016

        Hello

        If I continue to use my card and NOT the points, will the points expire after 36months?

        Is there a cost for a second card and is it annually or one off?

        Do I need to bank with NAB to take advantage of the points?

        Thank you.

        • finder Customer Care
          MayApril 27, 2016Staff

          Hi Mr. G,

          Thanks for your inquiry.

          Yes, with NAB Velocity Rewards Premium Card, the unused points will expire after 36 months. Also, obtaining a second card for this account is not possible and this offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB offers.

          As for earning the points, you just need to use your card on eligible purchases and banking with NAB is not a requirement.

          Hope this answers your question.

          Cheers,
          May

        • Default Gravatar
          MrApril 27, 2016

          Hi May,

          Can you please re-check your answer regarding expiry, its states on other sites for the exact same card “Never as long as you keep your account active”….active to me means, as long as I use the CARD the points won’t expire.

          Thank you.

        • finder Customer Care
          MayApril 27, 2016Staff

          Hi Mr. G,

          Thanks for getting back and I’d like to apologise if I wasn’t clear with my answer on Velocity points’ expiration the first time.

          As your NAB Velocity Rewards Platinum card is linked to the Velocity Frequent Flyer program, the Velocity points you earned with your NAB Platinum credit card are governed by the T&C of Velocity Frequent Flyer program.

          As such, while you are using/keeping your credit card active and as you are earning Velocity Points with your card, it is a must that you also use or redeem your earned points so they will not expire. In the Velocity Frequent Flyer T&C, it states that:

          “Prior to 1 June 2016, a Member’s Points will expire 36 months after the date of last account activity which includes redeeming points.”

          For your reference, I have sent the link to the T&C of Velocity Frequent Flyer to your email.

          Hope this clarifies my previous message on Velocity points’ expiration.

          Cheers,
          May

      6. Default Gravatar
        TonyMarch 8, 2016

        I cannot find the specific details on the type of cover offered in travel insurance from the nab website, only the link to purchase protection.

        Could you please give a direct link or provide some details on the extent of cover?

        • finder Customer Care
          YsaMarch 8, 2016Staff

          Hi Tony,

          Thanks for coming through finder.com.au.
          For a full outline of NAB Card Insurance, please refer to the link I’ve sent to your email.

          Cheers,
          Ysa

      7. Default Gravatar
        MichaelFebruary 21, 2016

        Is the online payment of annual car registration using the VISA card eligible for the bonus points and regular points offers?

        • finder Customer Care
          JonathanFebruary 22, 2016Staff

          Hi Michael, thanks for your inquiry!

          Since the annual car registration payment qualifies as a government fee/ charge, this payment would not qualify for bonus points or regular points offers. Everyday purchases involve the payment for a good or service and exclude cash advance transactions e.g. cash withdrawals and interest charges.

          Cheers,

          Jonathan

      8. Default Gravatar
        JamesFebruary 11, 2016

        Can I get a supplementary NAB Velocity rewards premium card for my partner linked to a primary card and if so is the secondary annual card fee as well as the $150 card fee.

        • finder Customer Care
          SallyFebruary 12, 2016Staff

          Hi James,

          Thanks for your question.

          Yes, you can add an additional cardholder to the account. You can only add one additional cardholder and they must be over 16. There isn’t a secondary annual fee or card fee to add a supplementary cardholder.

          I hope this has helped.

          Cheers,

          Sally

      9. Default Gravatar
        justinFebruary 7, 2016

        Hi

        what stipulates an “everyday” purchase exactly. Does that include online shopping eg. ebay, flight/accommodation etc as well as disposable items like fuel, food etc

        Thanks

        • finder Customer Care
          YsaFebruary 8, 2016Staff

          Hi Justin,

          Thanks for your inquiry.

          An eligible purchase is an everyday purchase and exclude transactions like:
          – cash advances
          – bills paid over the counter at a bank, financial institution or post office
          – purchases of travellers cheques
          – transactions for gambling or gaming purposes
          – when the card is used as a debit card to access linked accounts
          – transactions we decide are wholly or partly for a business or investment purpose.
          – transactions where you use your card account to make payment to the Australian Taxation Office (ATO)
          – fees and charges (including government fees and charges)
          – interest charges
          – transactions which are disputed, fraudulent or involve abuse of your credit card account
          – payments and purchases which are refunded or reimbursed.

          I hope this helps.

          Cheers,
          Ysa

      10. Default Gravatar
        AnneFebruary 4, 2016

        how do i know if doing this application on line is safe

        • finder Customer Care
          SharonFebruary 4, 2016Staff

          Hi Anne,

          Thanks for your inquiry.

          Making an online credit card application via finder.com.au is safe and a secured process as all Australian banks employ the latest encryption software to ensure your details are kept secured and confidential.

          You may want to check this page to know the details about our online application process.

          Cheers,

          Sharon

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