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NAB Velocity Rewards Premium Card 60,000 Velocity Points $150 Annual Fee (or 30,000 for $95)

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NAB Velocity Rewards Premium Card 60,000 Velocity Points $150 Annual Fee (or 30,000 for $95)
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escusemay on 12/10/2015 - 13:19 nab.com.au (1631 clicks)
Last edited 09/02/2016 - 14:42 by 1 other user

Here's another round of credit card points. Not as great as the last deal with Qantas FF points with waived annual fee but great for the Velocity point collectors.

1. Velocity Rewards Premium Card

  • 60,000 velocity points with $1500 spend within 90 days
  • $150 annual fee
  • 1.5 points per $1 spend on Amex
  • 0.5 points per $1 spend on VISA
  • Points capped at $20,000 spend per statement period
  • Minimum credit limit $6000
  • Complimentary insurances included (Overseas Travel Insurance, Interstate Flight Inconvenience, Transport Accident Insurance, Domestic Hotel Burglary Insurance, Purchase Protection Insurance, Extended Warranty Insurance, Price Protection)

2. Velocity Rewards Card

  • 30,000 velocity points with $1500 spend within 90 days
  • $95 annual fee
  • 1 point per $1 spend on Amex
  • 0.5 points per $1 spend on VISA
  • Points capped at $20,000 spend per statement period
  • Minimum credit limit $500
  • No complimentary insurances offered

Apply by 30 April 2016 and offer not available in conjunction with any other offer, including the NAB 250,000 Velocity Frequent Flyer Offer.

To give you an idea of how much points are worth and as mentioned in the Amex Velocity Platinum post, > if you book a flight using the velocity points - Perth to Abu Dhabi one way BUSINESS = 70,000 points + $80. That ticket costs $3,774.

Financial Credit Card Frequent Flyer Velocity Frequent Flyer

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)

closed Comments

  • lilkid28 on 12/10/2015 - 13:25
    +1

    Not too shabby of a deal.

  • JohnHowardsEyebrows on 12/10/2015 - 13:33
    +2

    $150 for 60,000 Velocity points is pretty darn good.

  • qtmai on 12/10/2015 - 13:52
    +1

    That's a good deal for the amount of points

  • Qmar on 12/10/2015 - 13:55

    Can you apply for both the Visa and the Amex version of the cards and get 120,000 points? The T&Cs don't explicitly state you can't.

    • carwashhair on 12/10/2015 - 13:58
      +5

      You get an amex AND visa with the Velocity Rewards Premium Card, so no, only 60K points available.

  • ronnknee on 12/10/2015 - 14:17
    +2

    What's the minimum income criterion?

  • iRMonkey on 12/10/2015 - 14:19
    +1

    For those who collect points, how long do you leave between card applications?

    • lilkid28 on 12/10/2015 - 14:29
      +1

      Probably good to have 6 months in between each application to protect your credit score.

      • ferrisb on 12/10/2015 - 14:47
        +1

        Awwww, but I want my extra 60k points NOW! :)

        I wanted to add an extra 60k points to my recent Amex haul, but possibly should wait as you suggested. 2 CCs in 2 months looks like I'm going broke. Which I'm not, despite how much money I spend on OZB sourced items.

        • lilkid28 on 12/10/2015 - 14:50
          +2

          Could always use this free credit score to have a rough idea where your score is sitting at before deciding to make another application or not:

          https://www.getcreditscore.com.au/

      • illumination on 12/10/2015 - 15:06
        +2

        I try to leave at least 2 months.. and I try to leave 3 months if possible but it is proving very difficult with so many good offers lately.

        • JohnHowardsEyebrows on 12/10/2015 - 15:14
          +2

          2 in 3 months is OK. 7 or 8 in a year though, isn't so good. My score has taken quite the beating since 2 years ago when the Citi Signature free for life deal came along. Still, have pocketed about 350k bonus Qantas points (in addition to those earned by spending) for very little. Good times.

  • schwinn on 12/10/2015 - 15:15
    +1

    How much is 60K velocity points worth?

    • vvti85 on 12/10/2015 - 15:58
      +1

      depends what are you planning to spend the points on?

      • schwinn on 12/10/2015 - 16:31
        +1

        How much is it worth, in:
        1. Cash exchange vouchers (eg Wish Cards)
        2. Flight Upgrades.

        I believe those are the only two measurable units of value to compare against a dollar?

        • incarnate on 12/10/2015 - 18:19
          +2

          1. Coles $250 gift card = 45K points = .55 cents per point (Source). 60K = $330

          2. Upgrade from "Saver" to Business on a flight from 1,201 to 2,400 miles = 30K points (Source). So Melbourne - Perth is 1670 miles ((Calculator) - you can book saver ticket (one way, random date 10/11/15, "reduced price") for $229, business class would be $1899. So a saving of $1670 for 30k = 5.5 cents per point. 60K = $3,300

        • Jayphen on 12/10/2015 - 18:21
          +2

          As you can see, the general rule is don't spend the points on anything other than flights (preferably business, though you can get 1.6-2c per point for economy tickets)

    • Jayphen on 12/10/2015 - 18:10
      +2

      The points can also be used for bookings (not just upgrades)

      An example (I recently booked this flight):

      Syd->LHR (London) business class with Etihad
      This costs 125,000 points
      The normal cost is $5,130

      $5130/125000
      = $0.04104 per point (4.104 cents per point)

      This makes 60,000 points worth $2,462.40

      Another example

      Syd->Mel economy
      This costs 10,200 points*
      The normal cost is $149

      $149/10200
      = $0.014607843 per point (1.46 cents per point, not a great redemption)

      This makes 60,000 points worth $1,295.65

      • You can also spend 6,900 points plus $21.11, which is probably a better deal
    • Jayphen on 14/10/2015 - 11:46
      +1

      Actually, according to https://www.velocityfrequentflyer.com/content/Specials/AusPo…, 100k points are officially worth $4,087.72, which means 60k points are (officially) worth $2452.63

  • [Deactivated] on 12/10/2015 - 15:20
    +3

    Not as great as the last deal with Qantas FF points with waived annual fee

    $150 for 60k velocity is far better than 40k qantas points for free.

    • wazza23 on 12/10/2015 - 15:52

      Agreed

  • nasesco72 on 12/10/2015 - 15:55
    +1

    Amex velocity had 110000 points with referral last month + free domestic return flights

    • Jayphen on 12/10/2015 - 18:12
      +3

      The deal is still active, but it's 80,000 points now. Also, that card is $350/year.

  • sams on 12/10/2015 - 16:00
    +1

    Thanks for this O/P i nearly got this card set a while ago but was holding off for a promo.

    I'm already approved, but the online identity check failed (Got my SMS but the website redirected to the product page…. will go past a branch to do the ID check.)

  • A Banana4scale on 12/10/2015 - 16:31

    Is having two existing credit cards a negative? Applied for a bankwest one two weeks back to purchase flight tickets. They have a fairly high credit limit as well.
    And when should you cancel these use and abuse cards?

    • JohnHowardsEyebrows on 12/10/2015 - 16:35

      Two most certainly is not seen as a negative. So long as you don't have a heavy history of application, you should have no problem with this one. Though maybe you could wait a month or two to space it out (bank policies could be different). Cancel them whenever they've outlived their usefulness. Though a card that earns 1.5 points per dollar should be useful up until the second annual fee.

      • sams on 12/10/2015 - 16:50

        FWIW I have two mortgages and 5 existing credit cards (of which 2 I upped the limit about 3 months ago) and was still approved for the premium card within 10 minutes. I was expecting the possibility of being denied.

        Prior to this I hadn't applied for a card in about 3 years but… (with the exception I had to get another one with one of my mortgage products 18 months ago)

  • aragornelessar on 12/10/2015 - 16:41
    +1

    Special offer: 60,000 bonus Velocity Points (when you spend $1,500 on everyday purchases within 90 days)

    What are "everyday purchases"? Do bills (utilities, car servicing, council rates) count? Or do I have to buy $500 a month in gadgets from ebay / groceries from supermarkets?

    • JohnHowardsEyebrows on 12/10/2015 - 16:57

      All of that qualifies, though you'll want to use the Amex wherever you can, as the earn rate on the Visa is pretty crap.

      • apptrack on 12/10/2015 - 17:09
        +2

        FYI..

        http://www.nab.com.au/personal/campaigns/credit-card-affilia…

        Everyday purchases exclude:
        cash advances
        bills paid over the counter at a bank, financial institution or post office
        purchases of travellers cheques
        transactions for gambling or gaming purposes
        when the card is used as a debit card to access linked accounts
        transactions we decide are wholly or partly for a business or investment purpose. Transactions where you use your card account to make payment to the Australian Taxation Office (ATO).
        fees and charges (including government fees and charges)
        interest charges
        transactions which are disputed, fraudulent or involve abuse of your credit card account
        payments and purchases which are refunded or reimbursed.

        • Gavman on 12/10/2015 - 17:41
          +1

          Standard

        • aragornelessar on 12/10/2015 - 23:02

          Thanks for that! Didnt get a chance to get to that page

      • aragornelessar on 12/10/2015 - 23:03

        Bit wary about using Amex, as some retailers charge extra on that don't they?

        • apptrack on 13/10/2015 - 14:00
          +1

          Some do, mainly small stores.

          The big stores don't charge. I've only been charged once using Amex and I use it every day. The store was YD.

  • thierry on 12/10/2015 - 17:41
    +1

    i've just signed up to the 40000 QFF - can I also sign up to this?

    • thierry on 12/10/2015 - 17:42
      +1

      woops.. the other one was CBA :)

  • Bluewhisky on 12/10/2015 - 19:27

    Great deal, thanks OP!

  • tomtoms91 on 12/10/2015 - 20:41

    Applied, fingers crossed because I want those points!

    Didn't realise the effect of applying for to many card last August, and applied for a few to many…hopefully waiting until now helps!

  • ozfe1 on 12/10/2015 - 20:49

    Well that's great isn't it. Just got accepted for the same with 20,000 points last week

  • DadBangr on 12/10/2015 - 23:22

    What's the plan of attack with CC's for points? Do you get the card spend the minimum spend to get the points then cancel the card?

    • JohnHowardsEyebrows on 14/10/2015 - 12:27

      Usually…unless the card is good. This one is very good, at 1.5 points per $ on the Amex, worth keeping until the first year is up.

      • JJlikes2eat on 29/10/2015 - 20:23

        How does this card compare to the Amex Platinum Edge for earning points? From memory, the Edge has a tiered earning rate.

        • JohnHowardsEyebrows on 29/10/2015 - 20:31

          Ummm…think the Edge gets 3 points at supermarkets and petrol stations? Obviously you have to use different cards for different merchants.

        • JJlikes2eat on 29/10/2015 - 21:04

          @JohnHowardsEyebrows: I think you're right. Sounds like you'd have to be quite vigilant about where to use your cards.

        • JohnHowardsEyebrows on 29/10/2015 - 21:17
          +1

          @JJlikes2eat: Even if you make the odd mistake, you'll still do well. But the main game is not about spending (unless you have big ticket items like uni fees you can pay on behalf of others) - it's signup bonuses like this one (and esp. like the Amex Velocity one - 80,000 points is huge in one fell swoop!

  • euges116 on 13/10/2015 - 10:46

    Wow, I applied on Friday when the premium Velocity card with NAB had the 20,000 offer. Applied on Friday 9/10, got approved 12/10. And as I understand correctly, the 60,000 offer now commences on 12/10. I wonder if NAB will consider my application date 9/10 or approval date 12/10 — because this can mean 40,000 points difference!

    • timmysbiscuits on 19/10/2015 - 10:32

      In my experience it's been the application date used. :(

  • lovetravellinginbiz on 15/10/2015 - 10:46

    Any idea if this is only for new NAB customers? I applied for the Qantas card earlier this year, got the points and closed it last month. Will I be approved for this card if I apply? Income > $100k.

    • JohnHowardsEyebrows on 15/10/2015 - 10:47
      +1

      You'll be fine. I've had three NAB Qantas cards since mid last year (open -> get points -> close), never any issue getting the points.

  • desafinado74 on 15/10/2015 - 23:54

    Does this VISA / AMEX combo count as 1 card or 2 cards by those credit check companies ?
    Since October last year, i have applied for the Westpac Altitude Visa/Amex combo, (Got 1 credit limit increase 6 months later), and the AMEX Velocity Platinum card with the 100k point bonus.

    Very tempted to apply for this NAB card combo.
    Not sure how it will affect my current credit rating though (Rated as average by Veda)

    • JohnHowardsEyebrows on 16/10/2015 - 00:14
      1. It's just a single card account, with an amex for more points (as it attracts higher merchant fees).
      2. Your application history is very modest compared to most around here.
      • desafinado74 on 16/10/2015 - 00:34

        Thanks for the quick reply !
        Just realised that Experian gave me a slightly lower credit score than Veda (583 v 596)
        LOL…what a joke. I did not even know that applying for a credit limit increase constitutes a credit enquiry.
        Can't believe that a credit enquiry will be kept for a max of 5 years. Looks like Australia's credit file check is pretty tough compared to the US.

  • tuvz on 03/11/2015 - 17:23

    Any one figure out the required minimum income for this card?

  • lovetravellinginbiz on 03/11/2015 - 19:18

    anyone got their points credited into their velocity account yet? signed up my wife and i and have now made the min $1500 purchase on each of our AMEXs. can't see any sign of points on nab internet banking login.

    • JohnHowardsEyebrows on 03/11/2015 - 19:27

      It's a direct crediting system, so you probably won't see anything in NAB's system. Check a day or two after your next statements.

  • strikerzebra on 04/11/2015 - 09:51

    I had a NAB credit card which I cancelled about 8 months ago, I wonder if I'd still get the points for this one?

  • lovetravellinginbiz on 15/11/2015 - 14:14

    so I've got the points from my $1500 purchase credited to my velocity account.. still waiting on the 60K bonus points.. anyone got their bonus yet?

  • strikerzebra on 31/12/2015 - 09:28
    +2

    I've just signed up, they didn't care that I had a card with them 10 months ago and just signed me up.

  • PaperplaneXXX on 04/01/2016 - 10:16
    +1

    I am also still awaiting for 60 000 pints to come. Anyone who got them please post

    • ilubbargains on 05/01/2016 - 12:21
      +1

      Applied mid-October and still haven't received points yet. Will give them till the end of January before following up

      • tomtoms91 on 06/01/2016 - 16:31

        Exactly what I was about to ask! I'll do the same :)

        • ilubbargains on 15/02/2016 - 10:20

          Have you received your points yet? I'm still waiting. They're probably too busy giving out 250K velocity points to people who are switching their home loans over.

  • Chuckler on 08/01/2016 - 14:16

    Velocity Points will be credited to the qualifying members account within 4 months of meeting the spend criteria.

    :-(

    • JJlikes2eat on 08/01/2016 - 18:47

      So does this mean you may get the points after an additional 4 months after meeting the spend criteria (which required spending $1500 in 90 days)? In other words, 7 months from receiving the card?

  • tomtoms91 on 13/01/2016 - 12:54

    I need those points to book my honeymoon flights -_- Can only do one way with points currently.

  • roddo on 14/01/2016 - 03:17

    Still waiting on my points…. Just release them already!!!

    • lovetravellinginbiz on 20/02/2016 - 10:02

      same.. haven't received it. got the card in Nov. $1500 spend 1st week of Nov. Still waiting!!

  • inmyplums on 15/01/2016 - 16:56

    Anybody wanting to sell their velocity points send me a pm

  • Paul Atreides on 09/02/2016 - 14:40
    +1

    Extended to April 30 2016

  • brettd on 12/02/2016 - 19:01
    -1

    Sweet, can cancel some other cards to get this

  • ACTGBilly on 20/02/2016 - 13:20

    Where are the points?

    I also haven't received yet.

  • JohnHowardsEyebrows on 23/02/2016 - 13:11

    Has anybody at all received the points?

  • desafinado74 on 24/02/2016 - 08:50
    +2

    I spoke to a NAB guy on the phone, and he said it takes at least 3 billing cycles after you had spent the minimum amount to get the points. I had spent mine in early December , so i hope i will get the points in March.

  • Chuckler on 09/03/2016 - 09:23
    +2

    Just got my points for those playing at home.

    • JJlikes2eat on 09/03/2016 - 22:39
      +2

      Me too! Processed on 05 Mar :)

    • erd on 10/03/2016 - 15:14
      +1

      same here :)

  • roddo on 11/03/2016 - 01:18
    +1

    Just got my points…

  • Schumi5 on 19/04/2016 - 13:21

    Anyone know if like the Amex issued carts where it is 3 points for restaurants, is the NAB one the same… it doesnt really go into any detail on their website apart from saying 1.5 points per $1 with the amex and .5 with the Visa.

    • erd on 19/04/2016 - 14:02

      There are no bonus point schemes with this card. Just as it says: 1.5 points-per-$ with Amex, 0.5 points-per-$ with visa.

      Unless you sign up for a promotion directly with amex like this:
      https://www.ozbargain.com.au/node/243982

      • Schumi5 on 19/04/2016 - 14:43
        +1

        cool, i think the 60,000 bonus and 1.5 per $ probably evens itself out so all good.

        • erd on 19/04/2016 - 14:47
          +1

          Agreed, I started using it everywhere except supermarket shopping, where amex platinum edge is still better at 3 points per $.

        • JJlikes2eat on 19/04/2016 - 15:20
          +1

          @erd: haha exactly what I do. Also keep in mind that petrol purchase is 2 points per $. Always have to be vigilant when handing over the plastic!

        • Schumi5 on 21/04/2016 - 17:43

          @erd:

          agreed, that might be the next card of choice unless another signup bonus comes up in 12months (which i sure it will) only like to have 1 card at a time.

  • djkelly69 on 19/04/2016 - 20:36

    Can now also get a free NAB Sherrin if you apply before 30 April 2016 (when whole offer is due to expire). Other details still appear to be the same.

    "Footy's back!

    To kick-off the 2016 Toyota AFL Season we're giving you a free NAB AFL Sherrin Official Game Ball#. Simply apply by 30 April 2016 for a new NAB Velocity Rewards Premium Card or NAB Premium Card and make an everyday purchase by 31 May 2016.

    Plus, receive 60,000 bonus Velocity Points with your new NAB Velocity Rewards Premium Card or 0% p.a. on purchases and balance transfers for 15 months on your new NAB Premium Card."

    http://www.nab.com.au/sites/personal/promotions/afl

    • Schumi5 on 21/04/2016 - 17:45

      shattered, i applied but didn't use this link, hopefully i still qualify as it says just have to make a purchase by May 31.
      might have to give them a call on this one at some stage

      Have a couple of questions on the card,
      If logged into NAB online banking and BPAY a bill, i assume it used the VISA side of the account? it doesn't give the option of what card to BPAY.

      To pay off the cards via BPAY i follow the biller code 1008 and the VISA card number as the reference?

      How do i know that they are definitely linked to my velocity account?

      strange that no documentation came with the card explaining anything besides amex contactless payment and velocity point earnings

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