HomeCredit CardsNABRewards Platinum - Velocity Redemption Option

NAB Rewards Platinum - Velocity Redemption Option Credit Card

The NAB Rewards Platinum - Velocity Redemption Option Credit Card offers up to 50,000 bonus Velocity Points. Ongoing benefits include Velocity Points via Velocity Frequent Flyer earned on eligible purchases, and complimentary travel insurance.


Updated 27 November 2023

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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.

Bonus Points, Balance Transfer and discounted Annual Fee in first year.
For a limited time the NAB Rewards Platinum - Velocity Redemption Option credit card has a bonus Velocity Points offer, where you could receive 40,000 bonus Velocity Points in the first year and 10,000 bonus Velocity Points in the second year. Also, the product has a special 0% p.a. Balance Transfer offer for 12 months. Of note, there is also a 3% p.a. Balance Transfer fee which should be considered when evaluating the overall benefit of this offer. In addition, the product also has a $45 annual fee in first year, which is a saving of $150 from the standard fee of $195. To get this offer, there will be certain eligibility criteria that you should be aware of before you apply.

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

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Earn Velocity Points via NAB Rewards#

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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.

Fees
Account Fees

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$195 annual account fee

Additional Cardholder Fees

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No additional cardholder fee

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Up to 1 additional cardholder

Transaction Fees

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3.00% international transaction fee

Other fees may apply.

Rates

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19.99% p.a. variable purchase rate

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21.74% p.a. variable cash advance rate

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Up to 44 interest free days on purchases

Features
Insurance

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Overseas Travel Insurance

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Transport Accident Insurance

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Interstate Flight Inconvenience Insurance

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Domestic Hotel Burglary Insurance

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Purchase Protection Insurance

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Extended Warranty Insurance

Offers
Bonus Points Offer

up to 50,000bonus points

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

$45annual 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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TMD

Before applying for this product, you should read the Target Market Determination (TMD) available here on the NAB website.

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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