The best ways to spend NAB Rewards points

Got a NAB Rewards credit card? Here's how you can earn points and turn them into flights, gift cards, cashback and other rewards.

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The NAB Rewards program gives you a way to earn points per $1 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 a introductory offer. So, how does it work and what are your NAB Rewards points worth? Let's take a look.

NAB Credit Card Offer

NAB Rewards Business Signature Card

Earn 100,000 bonus NAB
Rewards Points

Eligibility criteria, terms and conditions, fees and charges apply

NAB Credit Card Offer

Collect 100,000 bonus Rewards Points and enjoy 24/7 personal concierge service and complimentary insurance covers.

  • 100,000 bonus Rewards Points when you spend $4,000 within the first 60 days
  • Annual fee of $175 per card
  • 18.5% p.a. purchase interest rate
  • Up to 44 days interest-free on purchases
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How to earn NAB Rewards

You can earn NAB Rewards when spending with an 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.

Points Booster

As well as the card's standard earn rates, Points Booster gives you a way to earn additional points in three key spending categories:

  • Foreign transactions. Whether you're using your card on an overseas holiday or to make purchases online, you'll earn 2 additional NAB points per $1 spent.
  • Webjet. If you use your NAB Rewards card to book a flight, vacation package or holiday extras via Webjet, you'll earn 2 additional points per $1 spent.
  • Major department stores. Earn 1 additional point per $1 when you use your card with major retail partners such as Myer, David Jones, Kmart, Big W, Bunnings Warehouse and Mitre 10.

Can I earn NAB Rewards on ATO payments?

Unfortunately, like other NAB credit cards, you can't earn NAB Rewards points when making payments to the Australian Taxation Office.

How to use NAB Rewards points

The NAB Rewards website has a huge variety of rewards you can get with your points. The value of these rewards varies depending on how many points are needed and the estimated (or actual) retail cost of whatever you get. But below is a look at some key categories and the potential value you'll get.

Travel

Frequent flyer partners

AB Rewards credit cards let you transfer your NAB Rewards to three partner programs: Virgin Australia's Velocity, Cathay Pacific Asia Miles, Air New Zealand's Airpoints and Singapore Airlines KrisFlyer. You can transfer your points in multiples of 3,000 but the exchange rates will vary depending on which program you're transferring your points to.

Frequent flyer programExchange rate
Velocity Frequent Flyer3 NAB Rewards points = 1.5 Velocity Point
Asia Miles3 NAB Rewards points = 1.0 Asia Mile
Airpoints3 NAB Rewards points = 0.015 Air New Zealand Dollars
KrisFlyer3 NAB Rewards points = 1.0 KrisFlyer Mile

Example: Where could I travel by transferring 50,000 NAB Rewards points to frequent flyer points?

Exactly where you could travel will depend on the frequent flyer program you go with, but let’s look at Velocity as an example. Considering the exchange rate, 50,000 NAB Rewards would get you 25,000 Velocity Points to redeem for Virgin Australia flights.

That's enough for an economy return flight from Melbourne to the Sunshine Coast (23,600 Velocity Points plus fees and taxes), or a one-way business class flight on the same route (23,500 points), based on details on the Velocity Frequent Flyer website on 1 July 2021.

If you’d prefer to earn Velocity Points directly, you can compare Velocity frequent flyer credit cards to compare other options with more competitive earn rates.

Travel bookings

You can also redeem your NAB Rewards for flights, hotels and travel packages booked through Webjet. This gives ou a way to book flights with popular Australian airlines including Qantas, Virgin Australia, Jetstar and more – plus accommodation. So it could offer more flexibility than if you were to exchange your NAB Rewards for frequent flyer points.

You just need to log into your NAB Rewards account to book your flight and cover the cost with your NAB Rewards.

Shopping

Generally speaking, using your points for shopping rewards doesn’t always offer you the best value for money. However, if you don’t have a trip planned and would prefer to spend your points on an everyday reward, you can compare some of the retail perks you could redeem below.

Gift cards

You can use your NAB Rewards points to get gift cards for plenty of popular retailers in Australia. Below, we’ve listed some examples based on details from the NAB Rewards website in July 2021. We've also included an example of the value you could get, based on redeeming 50,000 NAB Rewards points.

Note: The values and details for gift cards could change. Log in to your NAB account or check the NAB Rewards website to check details before you redeem points for gift cards.

RetailerValueWhat 50,000 NAB Rewards could get you in gift cards
Big W digital gift card
  • $50 gift card = 9,620 points
  • $100 gift card = 19,230 points
  • Approximately $250 worth of gift cards (two $100 gift cards and one $50 gift card for 48,080 points)
Bunnings gift card
  • $100 gift card = 19,230 points
  • $250 gift card = 48,080 points
  • $500 gift card = 96,510 points
  • One $250 gift card
Coles digital gift card
  • $20 gift card = 3,850 points
  • $50 gift card = 9,620 points
  • $100 gift card = 19,230 points
  • $250 gift card = 48,080 points
  • One $250 gift card
Coles Express gift cards
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
Coles gift card
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • $20 gift card = 3,850 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
  • Approximately $240 worth of gift cards (or twelve $20 gift cards)
Country Road
  • $50 gift card = 9,620 points
  • $25 gift card = 4,810 points
  • Approximately $250 worth of gift cards (or five $50 gift cards)
  • Approximately $250 worth of gift cards (or ten $25 gift cards)
Dan Murphy’s$50 digital gift card = 9,620 pointsApproximately $250 worth of gift cards
(or five $50 gift cards)
David Jones
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • $25 gift card = 4,810 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
  • Approximately $250 worth of gift cards (or ten $25 gift cards)
Dymocks$50 digital gift card = 9,620 pointsApproximately $250 worth of gift cards
(or five $50 gift cards)
EB Games$50 digital gift card = 9,620 pointsApproximately $250 worth of gift cards
(or five $50 gift cards)
Endota Spa$50 digital gift card = 9,620 pointsApproximately $250 worth of gift cards
(or five $50 gift cards)
Good Food
  • $100 gift card = 19,230 points
  • $50 digital gift card = 9,620 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
Harvey Norman
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
iTunes gift card$50 gift card = 9,620 pointsApproximately $250 worth of gift cards
(or five $50 gift cards)
JB Hi-Fi
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
Kathmandu$50 digital gift card = 9,620 pointsApproximately $250 worth of gift cards
(or five $50 gift cards)
Kmart
  • $50 gift card = 9,620 points
  • $20 gift card = 3,850 points
  • Approximately $250 worth of gift cards (or five $50 gift cards)
  • Approximately $240 worth of gift cards (or twelve $20 gift cards)
Mitre 10
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
Myer
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • $25 gift card = 4,810 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
  • Approximately $250 worth of gift cards (or ten $25 gift cards)
Priceline$50 digital gift card = 9,620 pointsApproximately $250 worth of gift cards
(or five $50 gift cards)
Prouds$50 gift card = 9,620 pointsApproximately $250 worth of gift cards
(or five $50 gift cards)
Rebel
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
RedBalloon
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
Supercheap Auto
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
Target
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • $20 gift card = 3,850 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
  • Approximately $240 worth of gift cards (or twelve $20 gift cards)
The Good Guys$50 gift card = 9,620 pointsApproximately $250 worth of gift cards
(or five $50 gift cards)
Ticketmaster$50 gift card = 9,620 pointsApproximately $250 worth of gift cards
(or five $50 gift cards)
Webjet
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • $25 gift card = 4,810 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
  • Approximately $240 worth of gift cards (or twelve $20 gift cards)
Woolworths Essentials
  • $100 gift card = 19,230 points
  • $50 gift card = 9,620 points
  • Approximately $200 worth of gift cards (or two $100 gift cards)
  • Approximately $250 worth of gift cards (or five $50 gift cards)
Woolworths supermarket
  • $50 digital gift card = 9,620 points
  • $25 digital gift card = 4,810 points
  • Approximately $250 worth of gift cards (or five $50 gift cards)
  • Approximately $240 worth of gift cards (or twelve $20 gift cards)

NAB Rewards store

As well as gift cards, you can also use your NAB Rewards points to redeem rewards in the following categories:

  • Children and toys
  • Fashion and accessories
  • Homeware
  • Lifestyle and travel
  • Tickets and experiences
  • Sports and outdoors
  • Technology
  • Charity donations
  • Office supplies
  • AFL

There are thousands of products to redeem from the NAB Rewards store, so we’ve just picked out a few you could redeem with your 50,000 bonus points to show you some of the possibilities. Please note that these points prices are correct as of 1 July 2021.

Technology

If you’re a tech-head, you could get a 6-inch Kindle Paperwhite Waterproof eReader with 8GB of storage for 42,840 points (RRP $199 from Amazon Australia) or a Bose Soundlink colour bluetooth speaker for 41,660 points (RRP $199.95 from Bose).

Fashion and beauty

Fashionistas and beauty buffs can redeem their NAB Rewards for a pair of Ray-Ban Original Wayfarer Classic sunglasses for 42,710 points (RRP $205 on the Ray-Ban website) or a Fossil Grant Choronograph brown leather watch for 45,630 points (RRP $249 on the Fossil website).

Homeware

If you want to use your NAB Rewards to spruce up your humble abode, you could redeem your points for a Linen House Tencel Queen bed sheet set for 50,000 points (RRP $239.99 on the Linen House website) or a Scanpan Impact 32cm Covered Wok for 40,630 points (RRP $129 on the Scanpan website).

As you can see, some rewards offer more value for your points when you consider the regular retail price. So, make sure to compare your options and consider which reward is offering you more monetary rewards for every dollar you spend

Banking rewards

You also have the option to use your NAB Rewards to get your finances in control. If you log into your NAB Rewards account, you can opt to redeem points for cashback to your NAB account or to your NAB Rewards card. With this option, 12,500 NAB Rewards points is equal to $50.

As you can see, there are plenty of ways to redeem 50,000 NAB Rewards. While the best option will depend on your points goals and ideal rewards, you should always consider whether you’re getting the most monetary value for your points. Consider the annual fee of the card and spend requirement you have to meet to collect the bonus points.

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.

How to redeem NAB Rewards?

  • 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.

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 three months. You can also view your Rewards statement to determine which points are due to expire in the next six months.
  • Ineligible transactions. You can't earn NAB Rewards points on cash advances (including travellers 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 three NAB Rewards for one frequent flyer point or less.

Other things to consider with the NAB Rewards program

Advantages

  • Earn points as you spend. If you're a frequent credit card spender who usually pays your account balance in full each month, reward points are an easy way to get something back for your expenses.
  • Bonus points. NAB Rewards credit cards offer bonus points. While you'll be required to meet spend requirements to get the points, it's a great way to boost your points balance.
  • Frequent flyer partners. Rather than earning points with one frequent flyer program, NAB Rewards gives you the opportunity to trade your credit card points with three frequent flyer programs. Just make sure you're a member of the airline loyalty program you want to transfer your points to.
  • Flexibility of rewards. Whether you want to redeem your NAB Rewards for frequent flyer points, cashback, charity donations or products for your home, you're not strapped for choice when deciding how to spend your points.

Disadvantages

  • Exchange rates. If your reward goal is to redeem points with one frequent flyer program, you might benefit more from a frequent flyer card.
  • Expiry. Your points will expire within 36 months if they're not used.
  • No dual cards. Unlike many other rewards cards, none of the NAB Rewards cards are dual American Express or Visa cards. Sometimes the American Express card comes with a higher earn rate and can be a good way to earn extra points on everyday purchases wherever AMEX is accepted.
  • Interest rates. The NAB Classic Rewards and the NAB Rewards Platinum Card have a purchase interest rate of 19.99% If you struggle to repay your balance in full each month, the interest costs you collect could potentially outweigh the value of your rewards.

The NAB Rewards program helps cardholders get extra value from their purchases. From frequent flyer rewards and cashbacks to travel packages and electronics, there are rewards to suit almost every type of cardholder. As the 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.

Compare NAB Rewards credit cards

Name Product Bonus points Rewards program Rewards points per $ spent Purchase rate Annual fee
NAB Qantas Rewards Signature Card
110,000
Qantas Frequent Flyer
1
19.99% p.a.
$295 annual fee for the first year ($395 p.a. thereafter)
Earn up to 110,000 bonus Qantas Points (90,000 when you spend $3,000 in the first 60 days and 20k after 12 months).
NAB Rewards Business Signature Card
100,000
NAB Rewards
1.25
18.5% p.a.
$175
Get 100,000 bonus NAB Rewards points when you spend $4,000 on everyday business purchases in the first 60 days. ABN required.
NAB Qantas Rewards Premium Card
65,000
Qantas Frequent Flyer
0.66
19.99% p.a.
$250
Get 65,000 bonus Qantas Points when you spend $2,500 in the first 60 days and free Qantas Frequent Flyer membership.
NAB Qantas Business Signature Card
100,000
Qantas Frequent Flyer
0.66
18.5% p.a.
$295
Receive 100,000 bonus Qantas Points when you spend $4,000 on everyday business purchases in the first 60 days. ABN required.
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