NAB Rewards Platinum - Velocity Redemption Option Credit Card

The NAB Rewards Platinum - Velocity Redemption Option Credit Card offers 40,000 bonus Velocity Points. Ongoing benefits include Velocity Points via Velocity Frequent Flyer earned on everyday purchases, and complimentary travel insurance.

Updated 18 May 2022

* See details below

Expert Review

The NAB Rewards Platinum - Velocity Redemption Option credit card is one of NAB's mid-tier Velocity Frequent Flyer products. Featuring a relatively low points earn rate which is uncapped, the card provides premium features such as insurances. This card earns NAB Rewards Points, which can be converted to a variety of rewards, including Velocity Points. Further, the product has a $195 annual fee, including up to 44 interest free days.

Considering its key features, this card is most suitable to someone who wishes to be rewarded for their spend. Other benefits include Overseas Travel and Medical Insurance which is similar to equivalent products and no additional cardholder fees.

Product Details
Earn NAB Rewards Points to redeem on gift cards, travel, tech and more, plus enjoy complimentary insurances."

Earn Velocity Points via NAB Rewards#

0.5points per $1 spent

# This product earns NAB Rewards Points which can be converted to Velocity Points. For your convenience, all above references to points are in the Velocity Points currency.

Account Fees

$195 annual account fee

Additional Cardholder Fees

No additional cardholder fee

Up to 1 additional cardholder

Transaction Fees

3.00% international transaction fee

Other fees may apply.


19.99% p.a. purchase rate

21.74% p.a. cash advance rate

Up to 44 interest fee days on purchases


Overseas Travel Insurance

Transport Accident Insurance

Interstate Flight Inconvenience Insurance

Domestic Hotel Burglary Insurance

Purchase Protection Insurance

Extended Warranty Insurance

Bonus Points Offer

up to 40,000bonus points

0% for 12 monthson balance transfers (3.00% fee applies), reverts to 21.74% p.a.

$95annual fee in first year

60,000 bonus NAB Rewards Points (equal to 30,000 Velocity Points) when $1,000 is spent on everyday purchases within 60 days of account opening and a further 20,000 bonus NAB Reward Points (equal to 10,000 Velocity Points) if the card is kept open for over 12 months. Minimum redemption amounts apply, currently 3,000 Points. $95 first year annual fee (usually $195).
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Before applying for this product, you should read the Target Market Determination (TMD) available here on the NAB website.

points per
$1 spend*
Alternative Credit Cards
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^ Credit card reward programs can be difficult to compare due to tiered and capped points earn rate structures. To simplify comparison, we estimate the number of points you could earn per $1 spent, assuming $5,000 of spend on eligible purchases each month.
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