• expired

NAB Rewards Platinum Credit Card: 60,000 Bonus Velocity Points with $1,000 Spend in 60 Days, $95 Annual Fee @ NAB


I was browsing NAB website and noticed this popular deal now available directly through NAB.

The 120K points were awarded to me very quickly (approx ~5 days after spend criteria was met) and I ended up using it to redeem $650 worth of gift cards (before it auto redeemed into velocity points)

Terms & Conditions:
NAB Rewards Platinum Card — 70k Velocity auto redemption offer
Offer commenced on 6 June 2023 and ends 5 September 2023. To be eligible for the up to 70,000 Velocity bonus Points offer (automatically redeemed from 140,000 NAB Rewards Bonus Points), you must be a Velocity Frequent Flyer member, apply for a new personal NAB Rewards Platinum Credit Card before the offer is withdrawn, have your application approved, provide your Velocity membership number to NAB to enrol in Auto Redemption, spend $1,000 on everyday purchases using your new card within 60 days of opening account and keep you card for over 12 months. You’ll receive an email from NAB after your application has been approved with information on how to provide your Velocity membership number to NAB. Redemption of Velocity Points and the Velocity membership is subject to the Velocity membership Terms and Conditions.

Points will be awarded on a tiered basis – You will be eligible to receive 120,000 NAB Rewards Bonus Points when you spend $1,000 on everyday purchases in the first 60 days of opening your account (credited to your NAB Rewards points balance within 3 months of meeting the spend criteria, and will be automatically redeemed for 60,000 Velocity Points within 10 days thereafter and 20,000 NAB Rewards Bonus Points after you have had your card for over 12 months (credited to your NAB Rewards points balance within the 13th month and will be automatically redeemed for 10,000 Velocity Points within 10 days thereafter). The name of the cardholder must match the name on the Velocity membership number. Offer limited to one total allocation of 140,000 NAB Rewards Bonus Points per Velocity account.

Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purposes. You must provide your Velocity Frequent Flyer membership number to NAB in order to have your NAB Rewards points automatically redeemed for Velocity Points. Each week the NAB Rewards Points that you've earned will be transferred to Velocity Points with 2 NAB Rewards Points = 1 Velocity Point, provided your Velocity Frequently Flyer membership is linked to your account.

Your NAB Rewards Platinum Credit Card must remain open and in good standing, and you must be enrolled in Auto Redemption to receive the Velocity Points.

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

A reduced annual card fee of $95 will be charged when the card is opened and applies for the first 12 months. You will be charged the standard $195 annual card fee in the 13th month of your card account.

Related Stores

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

closed Comments

  • +7

    Nice! Shame they don't pro rata refund the annual fee any more

    • Oh crap…….just applied for a Qantas Signature card today hoping to get a pro rata refund in a couple of months time.

      Anyone knows if I can call them up to change the card type without triggering another credit file enquiry? Eg. From Qantas Signature to Reward Platinum.

      • Based on the T and C, you can still apply for NAB Reward card and get bonus sign up. It doesnt say anything about NAB Qantas Reward card. If you do transfer over, it wont be qualified for bonus sign up.

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

        • Yep, noted on the T&C but my application hasn't been approved yet so I might just call them up and see what they say.

    • Which banks do pro rata refund and how do you ask?
      I had 2 credit cards before for less than a year but never know you could get some fee back.

      • +1

        Only heard it from NAB and Citibank but pretty sure both have stopped it now

        • ANZ refunded a few months for me, Citibank wouldn't, YMMV

      • I only learnt about the refund thing recently. You need to call the bank when to cancelling your credit card ask them for a refund of the annual fee. Worked for me on my last Citi bank card got $240 back. YMMV

      • Got Westpac also to do the same for me

        • I asked Westpac too. Now I see my already-closed CC account in online banking again, with the partial annual fee. How can I get that money since I don't have the CC anymore?

          • @FatTofu: Ask them to move it to your Westpac Choice account. If you don't have that, they can either send you a cheque or share them different bank account details to transfer the money into.

    • So nab is doing this across all their cards?

    • how does pro rata refund annual fee work ? do you once after 12 months then cancel the card say at 14months…and then you get 10/12months back fee?

      • It used to be that, at any time, you could call up NAB to cancel and ask them to pro-rata refund the annual fee. They now stopped this in year one - you can get the year 2 annual fee refunded still (I had a QF Signature with a decent enough year 2 part to the SUB, so I kept it until the year 2 bonus credited, then used online chat to cancel and asked them to refund the fee).

    • If anyone successfully gets the $95 refunded let us know!

  • +6

    how much 60,000 points does it equate to in terms of $

    • $600 approx

      • -1

        How come $600 for 60,000 nab reward points?

        • +3

          "You will be eligible to receive 120,000 NAB Rewards Bonus Points"

      • +2

        He was probably referring to the velocity points in the headline

    • +1

      About $300 I think

      • E.g. Westfield $250 Gift Card for 51,248 Pt

    • +8

      Depends what and where you redeem

      If you are after the value of gift cards:
      - 120K NAB reward points is ~$600 dollars in gift cards (if you redeem it on the NAB rewards store before it gets auto converted into Velocity points)
      - 60K velocity points is ~$300 in gift cards (if you let the NAB rewards points convert into velocity and redeem it through the Velocity store)
      - In terms of flight value you could probably fly from Melbourne to Sydney 7 times in economy

      • Is it worth getting a card like this to fly internationally? Ie can velocity points be used to buy international flights? Or only virgin Australia?

        • You can convert to krisflyer for more options. Virgin also recently added Japan as a destination.

        • Yes, you don't just have to book VA, or transfer to SQ, you can book SQ or QR flights directly using Velocity points, as well as EY and their other partners.

      • I'm new to these points. Wish I could have seen an explanation like yours from the PointHack deal last time.. now the points have been converted and I've lost that $300 gift cards..

        For flight value is it also going to be worth about $300? Thanks.

        • No, a Velocity point is worth ~$0.02, you can easily get $1,200 value from 60k Velocity points spent on flights (and potentially more).

          • @QFFlyer: Any information on how to get 1200 from 60k

            • @michael9865: My experiences of booking flights and comparing the cash price vs points used (less any taxes, fees, etc.). You could get less value (if there's a dirt cheap sale fare available on the route you're booking, for example) or more (vice versa), but the comparison works for me because I use them exclusively on flights.

              I could quote cash first class flex fares to get values per point of probably 5-6c+ per point, but that's not a true comparison, since the majority of people probably wouldn't pay $10k+ for a one way flight. But you still get an upgraded experience that would cost that, in exchange for your points, which for cash (or cash equivalent, such as gift cards) you'd get much less of.

        • +1

          I was looking the other day, a $149 flight was worth 19500 points

      • I just met the requirement, how soon I can get 120k NAB reward points? and how do I prevent it gets auto converted into Velocity points? Thanks in advance.

  • +1

    This is a 'repeat' of this:

    NAB Rewards Platinum Credit Card offer @ Points Hacks
    • Apply between 08 MAY - 05 JUNE 2023
    • 60,000 Bonus Velocity Points with $1,000 Spend in 60 Days
    • $95 Annual Fee

  • Dammit, wish I could but the 18 months expiry isn't up yet with NAB

    • +3

      ye its kind of odd they changed to 18m, they used to do 12m

      • +7

        Because over time they get smarter when people abuse every system

        • +3

          nah but by that same token, their numbers go down and their whole division suffers. There are plenty of people that start off trying to churn and then get lazy and end up on the same card.

        • More like companies are abusing existing customers by offering good rewards only to new customers. These companies are, by way of their policies, encouraging people to churn cards. The change to 18m is just a way to deny these churners further benefits for a bit longer.

      • Very true, never mind offers pop up every so often. I'm ever so tempted to get the Citibank offers with balance transfers but don't want the loan type to show up as hard enquiries on my file

        • Yeah I also thought about that and went through the exact same reasoning as you. plus I've churned a fair bit already so don't need points acutely.

        • Not sure about that, I churned NAB personal Loan Plus for Qantas point, Citi Ready Credit for Velocity Points, and Citi Personal Loan Plus for Velocity. I did this over the span of 6 months…This is while i am applying to 6k limit CCs every 2 or 3 months.

        • What do you mean by:
          "I'm ever so tempted to get the Citibank offers with balance transfers but don't want the loan type to show up as hard enquiries on my file"?

          I don't understand the reference of a "hard enquiry on my file"? I thought all enquiries disappeared after 5 years? Further to this, are you referring to Citibank credit card with balance transfer option? You didn't mention CC, but mentioned offers, so I'm assuming you might be referring to a potential loan?

          • @eltito: They do but I'm applying for a home loan at the end of the year. Apparently credit card churn for points is ok with a lot of brokers but don't wanna take my chances with a loan.

            The Citibank with balance transfer is a loan it's not a credit card, it's different things.

            • @adrianhughes1998: It really doesn't matter if your history is otherwise clean. If you still have the loan outstanding at the time of applying it'll have more of an impact, same if any CC is still open, but the searches have such a low impact (unless there's literally hundreds) it's not worth worrying about.

  • This is good, just signed up to the Qantas one for $150 but it's 70,000 points, and 2k spend.

    I assume no insurance included on this card, and can't even see the earn rate? Maybe a true card to flip lol

    I was approved 5 minutes after my application, NAB are awesome.

    • NAB cards are always fast card flips, just terrible value cards (aside from the sign-on bonuses), with bugger all features.

    • For cardholders of Premium, Platinum and Signature tier cards, there are seven included insurance covers: overseas travel, interstate flight inconvenience, transport accident, domestic hotel burglary, extended warranty, price protection and purchase protection. The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the Information Booklet

  • Can it be obtained as part of a package with nab?

    • If you have an existing Choice Package with NAB home loans you could link the card to waive the annual fee (if there’s none currently linked) but unfortunately it’s NFS and they haven’t replaced the package with anything new.

      • What about an old home loan ? Is that what you’re saying . I Wonder if that would work lol, the account is still active but no home loan due to change of banks

  • Your NAB Rewards Platinum Credit Card must remain open and in good standing, and you must be enrolled in Auto Redemption to receive the Velocity Points.

    How do you enable Auto Redemption?

    • I just got my application approved. However, I think once we receive physical card and we activate the card online. That time, we get to see the option of auto redemption. Note: there is no information about bonus points in the approved application email from NAB.

    • +2

      You will need to link your rewards card to your frequent flyer number. To do this you will need to call us on 13 22 65 (Mon-Fri 8am - 7pm AEST/AEDT, Sat 7am - 6pm AEST/AEDT, Sun 9am-6pm AEST/AEDT) and quote 'Loyalty' at the voice prompts for the loyalty team to assist with linking your card for you.

      You can find this information and more at our website. Here's the link: https://www.nab.com.au/personal/credit-cards/nab-rewards-car…

      • What if I just keep 60,000 NAB reward points and transfer it to 60,000 flybuys points for $300 worth grocery shopping? And Just forget about VFF (no travel plans).

        • +2

          You are confusing the points. This offer is 60,000 Velocity points which is auto-redeemed from the bonus 120,000 NAB rewards points.

          Looking at this and previous posts it seems the auto-redemption is delayed meaning you could use the NAB points for something else as soon as you get them. You still need the auto-redemption turned on though to be eligible for the bonus.

    • +7

      You can call them or just do it via the NAB app (online banking). I did it via the NAB app

      1. Access the NAB Rewards Store via Cards in NAB Internet Banking, or the NAB app

      2. Click on the person icon and select Profile

      3. Select 'find out more' in the Automatic Redemptions section

      4. Under Velocity click set up Auto Redemption. Enter your details and submit.

      • I could not see the "Rewards Store" option, is it because I haven't received or activate my card?

    • +5

      I just verified this, on a desktop computer…

      • Log into NAB Internet Banking.
      • Choose "Cards" from Menu.
      • On left-hand side, under the picture of your card, click on "Redeem NAB Rewards Points"
      • Then, in the new browser window, click on "Redeem" —> "Loyalty Partners".
      • There, at the bottom, you will see Velocity Frequent Flyer,
        and you can set up auto-redemption there, if it has not been already done.
      • Did you do these after receiving the physical card?

        • No.
          I already had submitted my VFF number,
          during the application process,
          so that was already set up by the time,
          I received the physical card.

          • @whyisave: Mine says "Invalid email address. Please contact NAB to update email." when I try to submit my VFF number

            • @Brick50: Same with me,…I don't have the Email address in the account either.

              In a way it could be good, because you have more time to 'avoid' the VFF auto-transfer :-P

              • +1

                @whyisave: As long as we get the nab points I’ll be happy :D

                • +2

                  @Brick50: I got my points very quick.

                  The whole experience with NAB has been exceptional for me,
                  because from application to approval (15-minutes)
                  to receiving the points (within a couple of weeks),
                  was so smooth & seamless.

                  • @whyisave: Thats good to hear, so to confirm even though you weren't able to add email address or VFF number to your account you still got the 120k NAB points within a couple of weeks?

                    • +1

                      @Brick50: That's correct.

                      I didn't do deliberately,
                      but when I checked a few days ago,
                      I could see the 120k NAB points in the account,
                      but no membership number added, etc. etc.

    • have you tried not to activate auto redemption and add FFY membership number and still get the 120K points?

  • -2

    Isn't this a better deal with Coles ?

    No Annual fee for life
    up to 70,000 Flybuys bonus points
    Collect 1 Flybuys point per $2
    Complimentary insurance

    • That one says 50,000 Flybuys bonus points when you spend $4,000 on eligible purchases within 90 days from approval and 20,000 Flybuys bonus points when you keep your card for over 12 months.

      • -5

        So you reckon NAB deal is good relatively?
        Annual fee = $2240 first year with NAB. So thats $11600 for the first 5 years.

        I'm not sure which one is good over long term?

        • 70k flybuys = $350 to use at coles

          • -5

            @blonky: i'm surprised.. Coles is a life time free card. With NAB, you pay $2240 fee for the first year whether you use the card or not. Why is no-one considering this?

            • +5

              @smiles: Where is this $2240 fee coming from; it’s $95

              Flybuys can only really be used at Coles and you need to bring your flybuys card. This deal gets you either $650 of visa gift cards that can be used anywhere or enough velocity points for an overseas flight

              • @blonky: Is there a general visa gift card? I could only find ones that could be spent at specific shops.

            • +3

              @smiles: $2240? Where the hell did you pull that from?

  • Strangely, NAB APP shows Rewards Platinum Card offer with 80,000 NAB reward points. There is no mention about this website deal on VFF points offer.

  • -1

    Thought someone would post it after i commented its back on the expired pointhacks link lol

  • +2

    The points were awarded to me very quickly (approx ~5 days after spend criteria was met) and ** I ended up using it to redeem $650 worth of gift cards ** (before it auto redeemed into velocity points)

    How can one redeem $650 worth of gift cards?

    • +8
      1. Once you sign up, you will have to setup auto redemption of your points to velocity points in the rewards website (otherwise you risk not receiving your points). But the points only get transferred into velocity points on specific days.
      2. Keep checking your rewards points everyday on the NAB app under cards after you have met the $1000 spend criteria.
      3. Once you see 120,000 points, redeem for gift cards on the NAB rewards store before it gets auto converted into velocity points.

      When I redeemed my points there was a sale for ultimate gift cards on their website which was showing as 10% in points, so I managed to get $650 worth of physical gift cards. But you should be able to get at least $600 of other gift cards.

    • Did you get hit with the annual fee before that?

  • +4

    Hmm what if you had the qantas version?

    • +2

      From the T&C it sounds like the Rewards/QFF cards are separate. I.e., you should be able to claim the bonus for both within the same 12/18 month period or whatever it is. I think ANZ works this way too. Can anyone who has done it confirm?

      • +3

        I’ll let you know in a month or two. I’ve got a NAB Qantas Premium Rewards on cool-down, and just applied for this NAB Platinum Rewards.

        • any update?

          • +1

            @hongd: Oh yup it worked fine.

            • @DustyAfternoon: How long did you wait to apply for the card? I cancel this one (velocity) and looking to go to the Qantas one soon.

              • @Food: I had seven months between closure of Qantas and opening of Rewards, but that was within the 12 month cooldown of Qantas, so if they were on the same cooldown I’d have missed out. So I wouldn’t worry about the time between them.

                I’ve just gone back to back with the ANZ Qantas and ANZ Rewards. Literally even had both of them open at the same time for a week.

  • +1

    I don't get it . So you actually got 140000 nab rewards points and used it for gift card before they became 60000 velocity points ?

    • +6

      Yes, NAB provide you with 120K NAB reward points that get auto converted into 60K Velocity points (once you set up and link your velocity account in the rewards store). Before the points got converted, I went into the rewards store and just redeemed for $650 worth of gift cards.

      Also you only get 120K NAB (60K velocity in the first 12 months), the rest is only awarded if you stay hold your card for another year.

  • +3

    Here are some of the redemption amounts for the (digital) gift cards.
    There are around 74 "brands" in their list,

    Angus & Coote
    Event Cinemas
    $50 - 10,210 points

    Barbeques Galore
    Betta Electrical
    $100 - 20,410 points

    $250 - 51,020 points

    So, let's say the $100 worth of gift cards will redeem 20410 points = 10205 Velocity points.

    For those Velocity points, at the right time, you could go fly SYD -> MELB for ~7000 points,
    and since I can get many things 2nd hand, the only things I can't always get are jewellry or flights…2nd hand,
    so I try to collect the Velocity points,…aiming for 1M points, so one day I can be all George Clooney (from Up In The Air),
    with the sense of achievement but emptiness of hitting 1M points.

    • +1

      Do you get your groceries second hand too? They have coles and woolies gift cards.

      • Those WiSH gift cards can be useful for petrol too.

        I tend not to shop at Coles or Woolworths,
        in fact, not so much in supermarkets,
        except just for milk & bread.

        The rest, is through fruit & vegetable shops,
        butchers, fish shops, etc.

  • Westpac altitude velocity platinum is a better deal with 70,000 velocity points (45k KF miles) for $124 like this expired deal:


    Just know the velocity program fee went from $50 to $75.

    You need to have already have an account with Westpac, they have a debit account with no fees if you transfer $2,000 in and out.

    Spend is a bit more at $4,000 but that's not really much these days for churners.

  • -3

    can i just buy a laptop for $1000 to meet the spend $1000 criteria?

    • +2


    • +15

      Can you spend $1000 to meet the $1000 spend criteria? Hmmmm, tough one.

      • I think I'll need to call a friend…

  • This is a much better deal than the one I've applied for (NAB Rewards Signature Card)…

    • Can you share why?

      I'm currently tossing up between the two and was leaning towards the QFF one because I already have points/account with them.

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