This was posted 1 year ago, and might be an out-dated deal.

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NAB Rewards Signature Card: 80,000 Velocity Points ($3000 Spend in 60 Days), 20,000 Pts 2nd Year, $195 1st Year Fee (Save $100)

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NAB Rewards Signature Card: 80,000 Velocity Points ($3000 Spend in 60 Days), 20,000 Pts 2nd Year, $195 1st Year Fee (Save $100)
Go to Deal
whyisave on 28/04/2023 - 18:07 nab.com.au (717 clicks)
Last edited 28/04/2023 - 18:19 by 1 other user

More information, including Terms & Conditions:
https://www.nab.com.au/personal/credit-cards/offers/velocity…

Here is the offer for the NAB Rewards Signature Card :

• Offer valid between 27 APR -> 05 SEP 2023

• 80,000 bonus Velocity Points [VFF] (converted from 160,000 NAB Rewards Points), when you spend AU$ 3,000 on everyday purchases○ in the first 60 days. To receive the VFF, provide your Velocity membership number to NAB to enrol in Auto Redemption

• Receive an additional 20,000 bonus VFF (converted from 40,000 NAB Rewards Points), when you keep your card open for over 12 months.

• Reduced annual card fee from AU$ 295 to AU$ 195 in the first year.

This offer is not available to existing NAB Rewards Signature
or NAB Rewards Platinum Credit Card customers
or customers who have had a NAB Rewards Signature
or NAB Rewards Platinum Credit Card
within 18 months prior to applying for a new NAB Rewards Signature Credit Card.

Offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB credit card offer.

○ Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purposes.

Rates & Fees

• Variable purchase rate - 19.99% p.a.
• Standard balance transfer (BT) rate for 12 months - 0%
3% BT fee applies. Unpaid BT reverts to variable cash advance rate

• Interest free days on purchases - Up to 44
• Annual card fee - $295 p.a.
(reduced to $195 for the first year)

• Minimum credit limit - $15,000

• Variable cash advance rate - 21.74%
This is the interest rate charged on amounts you withdraw as cash, gambling transactions (including lottery ticket purchases), or transfer from your credit card to another account.

Eligibility

• Be a member of the Velocity Frequent Flyer program.
• Be approved for a new NAB Rewards Signature credit card.
• Provide your Velocity membership number to NAB to enrol in auto redemption.

Financial Credit Card Frequent Flyer Reward Points Velocity Frequent Flyer VISA

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)
Velocity Frequent Flyer
Velocity Frequent Flyer
Marketplace
Visa
Visa

closed Comments

  • freedomofspeech on 28/04/2023 - 18:09
    +1

    nice was looking for a good velocity deal

    • whyisave on 28/04/2023 - 18:46

      I guess the good thing about this deal is that the T&Cs do not say anything
      about holding a VISA card previously,
      but stipulating not holding any of these NAB-specific cards:

      This offer is not available to existing NAB Rewards Signature or NAB Rewards Platinum Credit Card customers or customers who have had a NAB Rewards Signature or NAB Rewards Platinum Credit Card within 18 months prior to applying for a new NAB Rewards Signature Credit Card

  • Andoes on 28/04/2023 - 18:11
    -1

    Is 80k still about $580?

      • Andoes on 28/04/2023 - 18:36
        -7

        Good lord. That site sucks.

        Thanks but.

    • freedomofspeech on 29/04/2023 - 00:51

      Maybe $1000

    • cakesyy on 29/04/2023 - 08:04

      Its almost $400 in gift cards.

    • ol mate on 29/04/2023 - 15:22
      +4

      Depends how you use them. Flying using rewards tickets will always be worth more than gift cards or other items from the store.

      I only use VFF and QFF points to redeem for flights, and have a minimum of 1c/pt threshold where I will redeem (comparing against the lowest commercial airfare including the likes of Jetstar).

      For example, I used 92k VFF points + AU$299 flying Singapore Airlines A380 from Singapore to London in business (on a revenue ticket business is $6.3k on the same flight or $5k on British Airways flying direct) - values the points between 5.1 and 6.5c/pt. On the flipside, I only got 1.4c/pt flying domestic economy.

      • Andoes on 29/04/2023 - 15:43

        Oh nice. Thanks for taking the time and effort to explain that.
        I appreciate it greatly

  • snb9211 on 28/04/2023 - 18:58

    I wish these programs would have their velocity and qantas cards separate. I can't get this because I've had the Qantas rewards signature. Probably asking a bit much but would be nice to accumulate both points easier.

    • Uzb9811 on 28/04/2023 - 19:59

      They are separate programs. What in the terms says otherwise? The exclusion wording is about having a ‘NAB Rewards’ card not a ‘NAB Qantas’ card.

      • Xizor on 28/04/2023 - 20:12

        Hope so. Im just waiting for my points on the "NAB Qantas Rewards Signature" card at the moment.

      • snb9211 on 29/04/2023 - 15:20

        It's called NAB Qantas Rewards Signature. So I imagine it comes under the same Rewards Signature as this one.

  • Miso on 28/04/2023 - 19:25
    +1

    If it's 1: 2 redemption for velocity points regardless why turn on auto redemption when you'll get a 15% bonus when that promotion runs? Which is does twice a year.

    Or keep the flexibility of transferring to Krisflyer if needed.

    • whyisave on 28/04/2023 - 21:38

      when you'll get a 15% bonus

      I think that's the idea they are trying to prevent,
      ie. accumulation of that 'liability'

    • Schumi5 on 28/04/2023 - 21:58
      +2

      Rumour has it the next bonus transfer is for May

  • Nirmitha on 28/04/2023 - 19:37

    Got this more than a month ago. still waiting on NAB to link the VFF number to the card. never got done and their customer service teams can't do it and refer it to the rewards team, wherever they are. Even after getting all the points, unable to convert to Velocity.

    • Westpac on 12/05/2023 - 00:49

      So you have the nab reward points?

      • Nirmitha on 12/05/2023 - 09:22

        yes

        • Westpac on 12/05/2023 - 11:16

          Did you get the points before or after they sent you an email requesting for your velocity number?

    • longsighted on 30/05/2023 - 11:50

      I'm still in with waiting for the vff link. Didn't got anything in the email. Try logging into NAB rewards and it's does not work. Can anyone share their experience?

  • jonnoyeo on 28/04/2023 - 20:44

    Not bad for people who have an existing NAB Qantas card - seems like you're still eligble

  • Benoffie on 28/04/2023 - 23:04

    Good cardbut got excited ATO payments might be allowed. Alas, not.

    Seems still restricted to business cards only

  • wittyusername on 29/04/2023 - 05:52
    +2

    A friend recently (2023) closed a NAB card and was told they are no longer pro-rata refunding the fee. Something to be aware of.

    • Wearedevo on 18/06/2023 - 10:19

      Meaning you pay the full $195 up front and receive none back?

      • daanish on 19/06/2023 - 09:02
        +1

        Yep you pay for the full year and if you cancel early they keep your full $195.

        Edit wrong deal. This is $195.

  • Duece1995 on 29/04/2023 - 07:52

    https://www.pointhacks.com.au/credit-cards/anz-rewards-plati…

    Isn't this a better deal? Only $95 for the card fee and you get $50 Back.

    • cakesyy on 29/04/2023 - 08:07
      -1

      Yes

    • Schumi5 on 29/04/2023 - 09:15
      +1

      80,000 ANZ points is only 40,000 velocity points, not sure how that's better.

      • Duece1995 on 29/04/2023 - 10:44

        You're right. This is a much better deal as this is double the rewards points.

    • whyisave on 29/04/2023 - 09:25

      My 1st ANZ card experience, a few years back, was great.
      They stood out with their offers and their travel offers, etc.

      My 2nd (and current) ANZ experience has been pretty poor,
      ie. it's been over 6+ months, and they still have not credited the VFF points,
      and other benefits too.

      Several phone calls to them, and each department is a bit clueless of the promotions,
      and when they find out, they are not empowered to improve the situation,
      transferring me to a different department.

      I just don't want to promote any ANZ card offers these days.

      • Nirmitha on 30/05/2023 - 14:41

        they are horrifically bad now. offshore phone teams are poorly trained as well. they can't be called a credit card company by any means.

        • whyisave on 30/05/2023 - 21:39

          I called up ANZ this week.
          It was my 4th or 5th in the last 3-weeks.
          I got the same runaround, and being transferred to 'other department',
          only to be transferred back to the same person,
          and none of them want to touch the escalation of the situation,
          ie. no crediting of the promotional points.

          I'll keep harassing them…ha

  • PoKGuy on 29/04/2023 - 19:11
    +1

    Thanks OP.

    Started the application.

    Time to switch over from my Virgin High Flyer card (after pocketing the bonus points many months ago…).

  • vanilla-pie on 01/05/2023 - 22:02

    Gift card value for 160,000 NAB reward points ($800) is worth way more than 80,000 Velocity points ($400).
    I would not covert this to Velocity points unless you need to fly with them.

    • whyisave on 01/05/2023 - 22:06

      Which gift-cards specifically?

    • [Deactivated] on 02/05/2023 - 15:04
      +1

      160,000 NAB reward points gives about $783 for most gift cards under the NAB rewards page (understand that you've rounded the figures up).

      But 80,000 velocity points can get you a business class reward ticket (one-way) to Singapore from Sydney/Melbourne/Brisbane (66500 points + $250 flight tax) on Singapore Airlines. A one-way business class ticket by cash itself costs around $3400.

      • whyisave on 02/05/2023 - 15:13
        +1

        That's nice way to look at using 80k VFF.

        I usually like to rationalise this for myself,
        by thinking that I can go to Sydney -> Los Angeles for about 48k VFF (Economy),
        in which case it's about 96k VFF for a return flight.

        It's just that I have never flown business class, or for that matter 'tasted luxury',
        and so I don't think in that way.
        I sleep well even in those tight seats of the budget airlines, eg. Scoot,
        that any points or money saved for those flights, goes towards eating well at the destination :-D

        • Xizor on 07/05/2023 - 11:35
          +1

          Yeah i used to be the same whyisave and that is why its important people first settle on what their requirement is, it drastically changes the value of points. Being a terrible flyer and now north of 40 im sick of not not sleeping or properly relaxing on planes and am placing more value on my flying experience, where as before i'd squeeze the best value from economy any which way i could. Now i only consider airline points value as to be used for business flights (securing them is a whole other hassle). Have a jetstar biz (paid) trip coming up then followed by a singapore air business trip (points). p.s. I envy your ability sleep on planes, my ms is the same way, lucky sods.

  • daanish on 18/05/2023 - 13:48

    Has anyone had issues jumping from a Citi bank card to NAB for their next card?

  • wizko on 22/05/2023 - 23:25

    Given the high minimum credit limit, is there a minimum salary requirement? It doesn't say anything but I'm assuming there is some sort of hidden minimum?

    • whyisave on 23/05/2023 - 10:41

      It's not only 'minimum salary requirement',
      but your ability to service the "debt",
      so they look at all other liabilities:
      - mortgage
      - credit card debts

  • longsighted on 30/05/2023 - 12:17

    Does any one has trouble with linking up their vff to the NAB card? I didn't receive any email for link up for auto redemption. How do you do it?

  • macr0hard on 31/05/2023 - 17:13

    Never had a NAB card or any accounts with NAB lol, not sure how that happened but I'm wondering what my chance of getting approved would be. Already got a citi, an anz, an amex and in the process of applying for another anz lol

    • whyisave on 31/05/2023 - 20:29

      Already got a citi, an anz, an amex and in the process of applying for another anz lol

      I'm similar (have: Citi, ANZ, Amex & St.George),
      but I want to sort out the ANZ card first,
      before cancelling it,
      and going for the NAB…
      …because I don't want to try for a 5th card on principle alone, ha.

      • macr0hard on 31/05/2023 - 22:29
        +1

        Haha let me know how it goes if you get approved I might follow suit

  • freedomofspeech on 21/06/2023 - 09:49

    Do you need to apply or be approved by 5 Sept?

    • whyisave on 23/06/2023 - 12:12

      My common sense says, that you're applying for the offer within the offer period.

      However, they sometimes act "smart" and say the approval needs to happen within the offer period.
      I haven't read the Terms & Conditions,
      but if you have time give them a call, to clarify this point.

  • npnp on 22/06/2023 - 18:16

    If I spend the minimum amount let's say in first few days, then will I get the points straight away or do I still have to wait full 60 days?

    In other words, can I spend $3,000 first day, receive and transfer points to velocity, pay $195 annual fee and close the card ASAP?

    • daanish on 23/06/2023 - 07:44
      +1

      Yes. If you're just taking out the card for the bonus point (churning) this is the recommended strategy.

      • npnp on 23/06/2023 - 09:05

        But would they transfer the points as soon as I meet the requirements or will they still wait 60 days?

        • daanish on 23/06/2023 - 09:08
          +1

          There's a few different deals of NAB Rewards Platinum/Signature cards with active comments sections at the moment and people are generally seeing their bonus points coming through in a couple of weeks of the spend. It's unlikely that you'll get the points the day that your $3000 posts but it shouldn't be 60 days.

    • whyisave on 23/06/2023 - 12:11

      Do what you need to do,
      ie. spend the $3k and wait for the points.
      (I think you need to set up 'auto-redemption' for this)

      You don't need to spend anymore on that card.
      Then, check every week to see if/when the points arrive.
      Cancel card once you're happy with it all.

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