The NAB Rewards program gives you a way to earn points per $1 spent on eligible credit card spending, with rewards including travel bookings, frequent flyer point transfers, gift cards and retail items.
If you don't have a NAB Rewards credit card yet, you could even score thousands of bonus points with an introductory offer. So, how does it work and what are your NAB Rewards points worth? Let's take a look.
Up to 120,000 bonus Qantas Points
Discounted $295 first year annual fee
Eligibility criteria, terms and conditions, fees and charges apply
NAB Credit Card Offer
Earn up to 120,000 bonus Qantas Points, take advantage of complimentary insurance covers and a 24/7 concierge service.
- 90,000 bonus Qantas Points (spend $3,000 within the first 60 days) and 30,000 points after 12 months
- First-year annual fee of $295 ($395 p.a. thereafter)
- 19.99% p.a. purchase interest rate | 21.74% p.a. cash advance rate
- Minimum credit limit of $15,000
How to earn NAB Rewards
You can earn NAB Rewards when spending with a NAB Rewards credit card. When you apply for one of these cards, you're automatically enrolled into the program and you will begin earning points when you make eligible purchases. Exactly how many points you can collect will depend on the earn rate and bonus points offered by your card.
|Credit card||Earn rate||Points cap |
|NAB Rewards Platinum Card|
- 1 NAB Rewards Point per $1 spent on most eligible spending
- 2 points per $1 spent at major department and hardware stores including Myer, David Jones, Bunnings and Mitre 10
- 3 points per $1 spent with Webjet and for overseas transactions (including online)
|NAB Rewards Signature Card|
- 1.25 points per $1 spent on most eligible spending
- 2.5 points per $1 spent on purchases made at major department and hardware stores
- 3.75 points per $1 spent with Webjet and for overseas transactions (including online)
|NAB Rewards Business Signature Card|
- 1.25 points per $1 spent on everyday business spending (including payments to the Australian Taxation Office)
Points Booster (NAB Rewards personal cards)
The additional points per $1 spent that you earn with the NAB Rewards Platinum and Signature cards are through a feature known as Points Booster. Here's a quick rundown:
- Double points: Use your NAB Rewards card at major retail partners including Myer, David Jones, Kmart, Big W, Bunnings Warehouse and Mitre 10 and you'll get double the usual points per $1 spent on eligible spending.
- Triple points: You'll earn triple points per $1 spent when you use your NAB Rewards card to book a flight, vacation package or holiday extras via Webjet. You also get triple points on overseas transactions, including eligible spending online.
What are "eligible transactions"?
This term covers most of your everyday spending, including supermarket shopping, petrol, dining and entertainment. Transactions that aren't eligible to earn points include cash advances, balance transfers and gambling transactions.
Can I earn NAB Rewards on ATO payments?
Payments to the Australian Taxation Office are not eligible to earn points if you have a NAB Rewards Platinum or NAB Rewards Signature Credit Card for personal spending. Only the NAB Rewards Business Signature Credit Card offers NAB Rewards points for payments to the ATO.
What rewards can you get with your points?
The NAB Rewards website has a huge variety of rewards you can get with your points, which we've broken down into 5 key categories:
- Travel. Redeem your NAB Rewards points for flights, accommodation or holiday packages with Webjet, or transfer them to one of the following frequent flyer partners:
- Velocity Frequent Flyer
- Asia Miles
- Air New Zealand Airpoints
- Singapore Airlines KrisFlyer
- Gift cards. Get a digital or physical gift card to spend with partnered brands like Amazon, Bunnings, Coles or David Jones. The value depends on the gift card but, to give you an idea, you could get a $50 Coles digital gift card for 10,210 NAB Rewards points.
- Cashback. You can use points to get cashback on your NAB Rewards credit card or bank account, with a minimum of 12,500 points giving you $50 back on your account. Just keep in mind that cashback doesn't count towards your credit card's minimum monthly repayment – so check your statement to see what you still need to pay by the due date.
- Retail items. The NAB Rewards website has retail items you can get with your points, including Apple products, electronics, toys and homeware.
- Charity donations. If you want to use your points to do good, you can redeem them for donations to charities including Amnesty International, Beyond Blue and the Australian Conservation Foundation.
Frequent flyer point transfers
NAB Rewards has a minimum frequent flyer points transfer value of 3,000 points. Here's the transfer rate for each program:
|Frequent flyer program||Base transfer rate||Minimum transfer rates|
|Velocity Frequent Flyer||3 NAB Rewards points = 1.5 Velocity Point||3,000 NAB Rewards points = 1,500 Velocity Points|
|Asia Miles||3 NAB Rewards points = 1 Asia Mile||3,000 NAB Rewards points = 1,000 Asia Miles|
|Air New Zealand Airpoints||3 NAB Rewards points = 0.015 Airpoints Dollars||3,000 NAB Rewards points = 15 Airpoints Dollars|
|Singapore Airlines KrisFlyer||3 NAB Rewards points = 1 KrisFlyer mile||3,000 NAB Rewards points = 1,000 KrisFlyer miles|
Tip: If you want to get Velocity Points with your NAB Rewards credit card, you can also set up an auto-redemption so that your NAB Rewards points are automatically transferred to your Velocity Frequent Flyer account each month.
Example: Where can I travel by transferring 50,000 NAB Rewards points to frequent flyer points?
The flight rewards you get will depend on the frequent flyer program you transfer your NAB Rewards points to, but let’s look at Velocity Frequent Flyer as an example.
With 50,000 NAB Rewards points, you'd get 25,000 Velocity Points. This is enough for any of the following reward flights when we checked the Velocity Frequent Flyer website on 11 March 2022:
- An economy return flight from Melbourne to the Sunshine Coast (23,600 Velocity Points plus fees and taxes)
- A one-way business class flight from Sydney to Hamilton Island (23,500 points)
- A one-way economy flight from Brisbane to Bali (22,300 points)
You could also potentially use your points to get an upgrade on flights you're already taking. This type of reward typically offers good value for your points but can be tricky to get without higher status as there are fewer options compared to flight rewards.
How much are NAB Rewards points worth?
There is no fixed value for these reward points because each reward has a different dollar value. This is the same with most reward programs that give you a choice of rewards.
But to give you an idea of the potential value, here are some examples of how much your points are worth for different rewards, based on the details from the NAB Rewards website.
|Points needed||Reward||Reward value in dollars||Value per 1,000 points||Good for:|
|3,850||$25 donation to the Australian Conservation Foundation||$25||$6.49||Giving back|
|12,500||$50 cashback||$50||$4||Covering the cost of some shopping you've already done|
|20,410||$100 David Jones digital gift card||$100||$4.89||Retail therapy|
|227,050||Breville the Barista Express Coffee Machine (model BES870BSS)||$999||$4.39||Working from home|
Based on these examples, you would get between $4 and $6.49 value for every 1,000 NAB Rewards points redeemed. This gives you a value of 0.4 to 0.649 cents for each point you use. In this example, the charity donation would offer the most value while cashback would offer the least value.
Interested in other rewards? You can work out the value by dividing the dollar value of the reward by the number of points needed. You can also use our guide to calculating the values of reward points as a cheat sheet.
Note: The values and details for rewards can change. Log in to your NAB account or check the NAB Rewards website to check details before you redeem points for gift cards.
How to get the most value from the NAB Rewards program
Always choose rewards that you want or need so you can at least save some cash. If there's nothing you want, just keep saving up points.
Or, if you're active with a frequent flyer program, transfer them so you can put them towards flight rewards – which can offer more than $20 value per 1,000 frequent flyer points.
How to redeem NAB Rewards points
- Online. You can redeem your NAB Rewards by logging into your NAB Rewards account and visiting their online store. When you've found a reward you'd like to redeem, select "add to cart" and then check out just as you would at any online store.
- Over the phone. You can redeem rewards over the phone by calling NAB Rewards on 13 22 65. Just make sure to have your membership number handy.
Pay with points and cash
If you don't have enough NAB Rewards points to redeem your chosen reward, you can use a points plus pay system to pay the remainder in cash. Plus, if you use your NAB Rewards credit card to pay the difference, you'll earn NAB Rewards on the amount you charge.
Traps to look out for with NAB Rewards
- Points expiry. From the day you make the transaction and earn the points, you have 36 months to redeem your points before they expire. Look at your points balance to see which points will expire in the next 3 months. You can also view your Rewards statement to determine which points are due to expire in the next 6 months.
- Ineligible transactions. You can't earn NAB Rewards points on cash advances (including traveller's cheques and bills paid over the counter at a bank, financial institution or post office), interest charges and other bank fees, ATO payments, balance transfers, foreign exchange or gambling purchases.
- Exchange rates. As mentioned above, you can redeem your NAB Rewards for frequent flyer points with partnered airline programs. However, these come with exchange rates of 3 NAB Rewards for 1 frequent flyer point or less.
The NAB Rewards program helps cardholders get extra value from their purchases. From cashback and frequent flyer rewards to travel packages and electronics, there are rewards to suit almost every type of cardholder. As NAB Rewards isn't the only credit card rewards program on the market, make sure to compare other rewards credit cards to find the right one for you.
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