HomeCredit CardsNABRewards Signature - Velocity Redemption Option

NAB Rewards Signature - Velocity Redemption Option Credit Card

The NAB Rewards Signature - Velocity Redemption Option Credit Card offers up to 80,000 bonus Velocity Points. Ongoing benefits include Velocity Points via NAB Rewards earned on eligible purchases, complimentary travel insurance, and no international transaction fees.


Updated 9 September 2024


Fact checked and verified. Updated 9 September 2024
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Expert Review

The NAB Rewards Signature - Velocity Redemption Option credit card is one of NAB's premium low fee products. Featuring a competitive 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 $24 monthly fee, including up to 44 interest free days. And for anyone who is planning on travelling or making purchases online from international companies, this product charges no foreign transaction fees, which can create significant savings.

Considering its key features, this card is most suitable to someone who wishes to be rewarded for their spend. Other benefits include no foreign transaction fees, which are commonly around 3 p.a., this product is great for anyone who makes overseas purchases online, or anyone planning on travelling overseas, Overseas Travel and Medical Insurance which is similar to equivalent products, no additional cardholder fees and an ongoing spend based annual fee waiver, when the customer spends $5,000 per month.

Bonus Points, Balance Transfer and discounted Annual Fee in first year.
For a limited time the NAB Rewards Signature - Velocity Redemption Option credit card has a bonus Velocity Points offer, where you could receive 60,000 bonus Velocity Points in the first year and 20,000 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 $145 annual fee in first year, which is a saving of $143 from the standard fee of $288. To get this offer, there will be certain eligibility criteria that you should be aware of before you apply.

Product Details
Our highest NAB Rewards points earn rate to redeem on gift cards, travel, tech and more."
- NAB
Rewards

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Earn Velocity Points via NAB Rewards#

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0.63points 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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$24 monthly account fee, waived when you spend $5,000 in the month

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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No international transaction fee

Other fees may apply.

Rates

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20.99% 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 80,000bonus points

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

$145annual fee in first year

Earn up to 140,000 Bonus Points (equal to 70,000 Velocity Points) on a new NAB Rewards Signature Card when you keep your card open for over 12 months. Min $3,000 spend on everyday purchases in first 60 days Enjoy a reduced annual card fee (from $295 to $195) for the first year. Minimum redemption amounts apply, currently 3,000 Points.
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TMD

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

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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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