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

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NAB Rewards Platinum Credit Card: 60,000 Bonus Velocity Points with $1,000 Spend in 60 Days, $95 Annual Fee @ NAB
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Autonomic on 23/02/2024 - 14:17 nab.com.au (3771 clicks)
Last edited 23/02/2024 - 14:18 by 1 other user

NAB Rewards Platinum Card with Velocity — 80k Velocity auto redemption offer T&C

Offer commenced on 16 February 2024 and ends on 31 July 2024. To be eligible for the up to 80,000 Velocity bonus Points offer (automatically redeemed from 160,000 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must be a Velocity Frequent Flyer member, apply for a new personal NAB Rewards Platinum Credit Card before the offer is withdrawn, have your application approved, provide your Velocity membership number to NAB to enrol in Auto Redemption, spend $1,000 on everyday purchases using your new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 40,000 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 20,000 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 160,000 NAB Rewards Bonus Points per Velocity account.

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.

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Comments

  • Nalar on 23/02/2024 - 14:24
    -5

    remember, as soon as you spend the $1000 turn off auto converting to virgin and use for ~$550 Gift Cards vis NAB points.

    • AnyFurtherDiscount on 23/02/2024 - 14:39
      +11

      60,000 Velocity points nearly get you a business class one way to asia (Melbourne-Singapore-Bangkok for 71,000) but $550 no way get you near that.

      • Pacify on 23/02/2024 - 17:06
        +2

        Why would I want to fly business class to asia, when you can get a one pay ticket to those places for $150-200 pretty often.

        Unless you flying on the company dime, paying more for business class is just odd

        • DingoBilly on 23/02/2024 - 17:50
          +3

          People on ozbargain have this odd thing that you get such great value using points for business class because it's a $2000 flight for less points.

          In reality it's just throwing away money you could use at the destination instead if you can put up with economy which really isn't that bad.

          • orbital on 23/02/2024 - 18:04
            +16

            @DingoBilly: Horses for courses son… Some wanna splurge some wanna skimp… To each their own no judgement

          • Xizor on 23/02/2024 - 22:13
            +5

            @DingoBilly: Throwing away money? Absolute nonsense. It's just personal preference, like many things. I've flown cheap seats far more than anything else and given the choice i'd use points for business if the opportunity arose. For anyone remotely tall or has difficulty resting/sleeping on flights, it makes a big difference. If you dont care for it thats cool, its not for you. But in no way does it mean its not good value for those that do.

          • Whiplash on 24/02/2024 - 02:30

            @DingoBilly: Sometimes you're just too (profanity) exhausted and just want a nice flight back home. Eco out, biz home.
            That is if you travel like me with is 20h of go every day.

        • freestyle18 on 23/02/2024 - 18:14

          you must be less than 5 feet tall lol

          • ripoffmerchant on 23/02/2024 - 18:30
            +1

            @freestyle18: Yes economy really isn't a viable option for taller people long distance. It prevents me from travelling overseas as much as I would like.

          • AnyFurtherDiscount on 26/02/2024 - 09:50
            -1

            @freestyle18: @freestyle18 and you must be poor!

            • freestyle18 on 26/02/2024 - 11:58

              @AnyFurtherDiscount: @AnyFurtherDiscount why me? lol

            • Meconium on 01/03/2024 - 16:39
              -1

              @AnyFurtherDiscount: Poor and tight are not the same.

              But it's rude to call someone out for being either one.

              And don't bother trying to convince me you're not just some kid who's never made anything of themselves, let alone a fortune.

        • AnyFurtherDiscount on 26/02/2024 - 09:47
          +1

          @Pacify: You never fly business class before, so you would never know how good that is.

          But I can understand you, $200 flight and $15 per night stay at the backpacker and sleep with 12 people in the same room. I just can't do it.

    • Jimothy Wongingtons on 23/02/2024 - 14:47
      +4

      yeah i did this the last time this deal was up, 5 x 100 amazon and 50 in ebay cards.
      Flights are worthless to me since have no time to go anywhere on a plane these days.

      • illusion99 on 23/02/2024 - 15:40
        +2

        Will that always be the case for the rest of your life? Velocity points last forever as long as you have some activity every 2 years

      • Utsav23 on 24/02/2024 - 19:42

        I'm planning to sign up for this card. 60K velocity points is equal to $550 worth of gift cards?

        • Jimothy Wongingtons on 24/02/2024 - 20:05
          +1

          It’s nab points (which is what you get) that convert ;via nab rewards portal. If you time it wrong it will auto convert to velocity

      • Utsav23 on 15/03/2024 - 11:19

        I applied this card, met spend requirements. Redeemed gift cards n closed the card yesterday. However, noticed this morning that an annual fee of 95$ annual fee charged on a closed account. Can I still say I can't pay the annual fee?

        • Jimothy Wongingtons on 15/03/2024 - 11:48

          Can I still say I can't pay the annual fee?

          what makes you think you are exempt from paying the 95 annual fee that you agreed to..?

          I think of all the replies I read (prob a good 100-150+ across a few of these threads) , there was only 1 or 2 people that got lucky and didnt pay.

          • Utsav23 on 15/03/2024 - 12:52

            @Jimothy Wongingtons: Right. In such a case, I will call them and request not to cancel the card. Don't know they will accept this way.

    • gardezee on 25/02/2024 - 15:44

      I'm a little confused by this. Would I not get NAB points if I don't have velocity number added to my account?

  • tunzafun001 on 23/02/2024 - 14:43
    +3

    Don't forget to opt in to the Velocity 30k bonus points offer on top.

    I don't like this new trend of charging $95 for Velocity opt in (hence they are giving 30k points for the $95).

    FWIW - I went with the Westpac Altitude card with no annual fee whatsoever in the first year… 90k altitude points, converts to 45k velocity points.

    • desibaba on 23/02/2024 - 14:49
      +12

      Don't think this card is eligible for the 30k bonus points from velocity. Only cards from Amex, Westpac, BOQ and Virgin is the list.
      https://www.velocityfrequentflyer.com/partners-offers/veloci…

      • tunzafun001 on 23/02/2024 - 17:21
        +1

        Ah you're right… well, that's probably why NAB share valuations are tipped to fall 10% at least (they don't have any decent products). Following CBA's lead.

        Fun Fact - I called CBA and asked why I was paying an annual wealth package fee when they have nothing to offer for it (insurance is too expensive, the credit cards are uncompetitive, only 3 offsets (Suncorp/ MQG has 10)..and their rate is less. He agreed and refunded the annual fee.

        If you are with CBA..call/ make a complaint. Get your $350 back.

        • boq on 28/03/2024 - 11:07

          How? I get 10 offsets on the wealth package and they argue the interest rate is discounted for being in this package? It's $395 for me annually.

          https://www.commbank.com.au/home-loans/wealth-package.html

          • tunzafun001 on 28/03/2024 - 12:50

            @boq: Just have facts to prove the rate is rubbish on the wealth package…
            Ie. I compared to TMB, Com First, Easy Street - 100% offset on variable AND fixed loans, 0.4% better rate, insurance quote was $200. I pointed out a call to these places was answered in 8 minutes. After 8 minutes…I was still on the press 3, press 5 crap with CBA.

            So the CBA $395 is a scam.
            He agreed and refunded the fee .

            Didn't know about the more than 3 offsets now…cheers for this. But I'm looking to leave CBA asap anyway.

    • VQLD on 08/04/2024 - 13:50

      apparently, there are no no annual fee Westpac cards anymore…

      • tunzafun001 on 08/04/2024 - 15:46

        Always a free first year card with Westpac, as long as you have had a card with them before (login remains forever even after closing the card), or have a savings etc account with them…or change the last few letters of the sign up URL to match the members link (which is how I originally got it free).

        https://www.westpac.com.au/personal-banking/credit-cards/rew…

  • Jimothy Wongingtons on 23/02/2024 - 14:50
    +16

    shoutout to nab too, the application was by FAR the easiest and quickest with no extra interactions required from bank staff and me.
    then again, anything seems good compared to anz applications lol

    • endolphin on 23/02/2024 - 17:14

      I've had about 10 ANZ cards over the years and on most occasions the application process have been one of the most seamless. The last ANZ card I got was even approved immediately 5 seconds after I hit submit (not conditionally approved, completely approved, "card is on its way"). Very very easy. Card is now already closed, was open for 3 weeks.

      • Jimothy Wongingtons on 23/02/2024 - 17:20
        +7

        Got knocked back for anz black

        Guy called up yeah you’ve been declined , is there anything else you want to tell us?

        Me: about? Everything is on the application????

        I actually still have my 20+ year old and transaction account / savings - because I’m too lazy to swap, so all the info is there for them to see. Unless they were hoping for me to disclose how many ozbargain upvotes i have saved up for retirement

        • orbital on 23/02/2024 - 18:07
          +2

          Just got ANZ black approved took well over 7 weeks.. in the meantime I got AMEX and Citibank approved and claimed the bonus points … ANZ atrocious process even being a customer of theirs for well over a decade

      • ginger-gin on 23/02/2024 - 18:40

        Looks like you applied in the branch instead of online application?

      • ol mate on 26/02/2024 - 06:12

        I assume you're paid into an ANZ account?

        I've seen ANZ and Westpac both auto-approve credit card applications where salary is credited to the respective accounts and has been for a reasonable amount of time (both examples are at least 12 months of salary, but I assume the threshold is more like 3 or 6 months).

    • Xizor on 23/02/2024 - 22:16

      NAB and Westpac have been as major hassle for me, yet ANZ has always been fast and smooth. Weird these banks.

  • xiaozaocha on 23/02/2024 - 14:53
    -8

    Isn't this their normal offer? no deal

  • Vink on 23/02/2024 - 16:21

    I can see that “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.” I currently have nab qantas rewards card. Is it same as nab rewards. Dumb question but would like to get clarification. Thanks in advance lol

    • Autonomic on 23/02/2024 - 16:31
      +1

      NAB Qantas cards and NAB Rewards cards (like this) can be churned concurrently.

      • [Deactivated] on 23/02/2024 - 18:24

        Can they?

        That's awesome.

        I had a NAB Qantas card about 11 months ago, now it's switched to every 18 months.

        NAB was the easiest CC I ever applied, instant approval.

    • CaptainHoltisDad on 23/02/2024 - 16:40
      +1

      Had the same question and called them up to check. Confirmed that Qantas and Rewards are treated separately in the exclusion period.

    • mkowarkski on 23/02/2024 - 16:41
      +1

      You mentioned that: existing NAB Rewards Signature or NAB Rewards Platinum Credit Card.
      Qantas cards are separate :)

      Apply and enjoy the reward!

    • mrdng on 26/02/2024 - 21:04

      I've just closed my NAB Qantas Signature 2 days ago. Upon reading the comments of Autonomic, I submitted an application for NAB Rewards Signature, I received approved SMS literally less than 30 second. Will see how it goes

  • mkowarkski on 23/02/2024 - 16:43
    +4

    I currently have the platinum card. I should admit this is one of the best rewards credit cards I have had. There are alwasy some ways to earn extra bonus points. Also, redemption to flybuys points or velocity points arew without any fee, which is great!

  • cbalsill on 23/02/2024 - 17:15

    This, or Westpac Altitude Platinum — 100k for $174 fees when spend $4k in 90 days, inc the 30k bonus from Velocity…
    40k more points for extra $79 fee and higher but still easy ($1350/month) spend?

    • tunzafun001 on 23/02/2024 - 17:30
      +1

      Might be a reduced fee there for being an existing customer.

      I closed my card a couple of years ago..BUT…my old login still worked, and I applied as an existing customer.

      If not, when I wasn't a customer at all, I did my first application using someone elses (a customers) URL link (It just had a few extra promo letters on the end). Worked perfect and I got the discount.

      • SenorQuack on 23/02/2024 - 19:19

        There is. $49 reduced annual fee for existing customers. In fact, they waived mine completely. Not sure how that happened, but my card paperwork only says $75 Velocity fee, and $0 annual fee first year.

        • denserham on 23/02/2024 - 23:02

          What is a customer? Any NAB transaction account? or a NAB credit card holder?

        • tunzafun001 on 23/02/2024 - 23:36

          Yeah, the platinum had the annual fee waived completely in the first year. Just pay for QF or V if you want, or Altitude is completely free.

    • Autonomic on 23/02/2024 - 17:38
      +1
      1. Virgin Money
      2. Westpac Velocity Platinum (become a customer first to get annual fee reduce to $124)
      3. This card.

      That being said, if you can meet the min spend fast enough on this card you can get the points and close the card before you even get charged the fee.

      • tunzafun001 on 23/02/2024 - 23:38

        I thought they removed that (annual fee waiver if bail out early) this year?

      • gardezee on 24/02/2024 - 10:33

        When do you get charged for the fee?

      • Jav79 on 05/03/2024 - 23:37

        So they dont make you wait until the end of 1 month to transfer the points to your Velocity account?

      • jm888 on 21/04/2024 - 14:16

        What's the conversion rate from Westpac Altitude points to velocity points, if I were to get the normal Westpac Altitude? Is the $75 velocity program fee worth it for the altitude velocity card?

  • Ricey1212 on 23/02/2024 - 18:05

    Please forgive my ignorance but i havent owned a credit card for years. Just wanted to confirm, i can apply for this card and if approved, i can purchase say a new mobile phone in excess of $1000, pay it off month to month and have it completely paid off within the 12 months and i could get full benefit from this offer?

    • timhn on 23/02/2024 - 18:36
      +1

      If you happy with paying 20% or so interest rate per month, then yes.

      • Ricey1212 on 23/02/2024 - 18:40
        -2

        So they apply interest even if you pay prior to the monthly due date? I thought interest only applied if payments were late?
        "4 Interest free days on purchases
        You will be able to receive interest free days on purchases, if you pay your account in full, or if your statement displays an interest free days payment, that amount in full, by the due date each month."

        • highwind on 23/02/2024 - 19:00
          +5

          You will be able to receive interest free days on purchases, if you pay your account in full

          You spend $1000, then you have up to 55 days of interest free days to pay it off fully. If you don't, then whatever you don't pay is no longer interest free.
          E.g. $1000 spend, pay $100 on the first bill, then you owe $900 which will start accumulating interest.
          If you pay off all $1000 on the first bill, then you will never be charged interest for that purchase. This is how to ensure you never pay interest but still get all the perks of a credit card.

  • vegemite2008 on 23/02/2024 - 18:10
    +1

    I have a good credit rating.

    How many cards can I open and close in a year before it starts to affect my credit rating?

    • Herbs on 23/02/2024 - 18:35
      +1

      about tree-fiddy

    • timhn on 23/02/2024 - 18:37
      +1

      Every single one

  • Paulz on 23/02/2024 - 18:21
    -3

    Note NAB and ANZ don't accept Airbnb income unless it's managed by a property manager. Very annoying to get refused despite a 200k tax return for the last 5 years. They also don't accept any income support ie being on tac work cover etc despite an acceptance of said covers of X amount till X year.

    • [Deactivated] on 23/02/2024 - 18:25

      Last year, they didn't even ask me for a Payslip?

    • ripoffmerchant on 01/03/2024 - 20:28

      Yes they had difficulty with investment property income because I had 50% ownership and 50% liability. They said I didn’t nominate that on the application and I said there was nowhere to nominate that on the application. A five minute phone call and 24hrs later it was approved.

  • ee380 on 23/02/2024 - 19:29

    If I hold an NAB Business Rewards card will I be able to open this personal card and still receive the sign up bonus? Looks like I can?

    • mkowarkski on 24/02/2024 - 23:45

      I think so. Business cards and normal cards are separate

  • serpserpserp on 23/02/2024 - 21:35

    Anyone had any success getting the annual fee waived?

  • tess1988 on 25/02/2024 - 11:43

    Is there a special Qantas deal like this one with reduce spend like this deal and the normal rewards deal

    Normal rewards offer
    100,000 bonus NAB Rewards Points

    80,000 bonus points when you spend $1,000 on everyday purchases within the first 60 days of account opening and 20,000 bonus points when you keep your card for over 12 months

    This velocity deal
    60,000 Bonus Velocity Points with $1,000

    There was a special Qantas one I think as well

  • gardezee on 26/02/2024 - 13:56

    Can anyone confirm if I need to enter my Velocity number to get the bonus points?

    Can I just get the NAB points and get gift cards from em?

    • Micky14 on 26/02/2024 - 15:12
      +1

      You don't need to enter Velocity number at all. I already got my 120k points and just ignore the auto sent mail to tell you set up auto redeem.
      You can swap your points to any gift cards or partners you want.

      • gardezee on 26/02/2024 - 17:12

        Thanks for confirming!

      • gardezee on 27/02/2024 - 09:22

        Can you use the points to pay for your credit statement? This is my first credit card so just wondering what's the best way to use the points

        • Micky14 on 27/02/2024 - 09:33
          +2

          Yes you can. But ratio of cashback to card is the worst. So if you are not after frequent flyer points you better swap for gift card.
          Cashback rate 12500pts:$50
          Gift card rate 10210pts:$50

          • Utsav23 on 27/02/2024 - 10:47

            @Micky14: I just submitted an application for this CC yesterday. There is no where to input velocity frequent flyer number. I prefer NAB points for redeeming gift cards. How long does it take for full approval?

            • Heybargain on 27/02/2024 - 12:08

              @Utsav23: I submitted yesterday as well, approved today.

              • Utsav23 on 27/02/2024 - 19:07

                @Heybargain: I got a message from NAB Loans. They will contact me if they need any further details. Not approved yet.

                • Heybargain on 28/02/2024 - 07:48

                  @Utsav23: I got a text from them too yesterday at 945 saying they have my application and will call if more info is needed. Half an hour later I got another text saying it’s been approved.

                  • [Deactivated] on 28/02/2024 - 22:34

                    @Heybargain: Are they asking for payslips now? It keeps changing.

                    • Heybargain on 29/02/2024 - 07:52

                      @[Deactivated]: The payslips were requested immediately after my application. I uploaded them and that was it.

                      • Utsav23 on 29/02/2024 - 12:47

                        @Heybargain: I did the same too. Still no formal approval. Maybe I have 2 CCs plus a mortgage. Let's see whether they are approving.

                        • Heybargain on 29/02/2024 - 14:12

                          @Utsav23: Maybe. But I have a couple more CC's than you + mortgage too. Otherwise call them to follow up.

                          • Utsav23 on 29/02/2024 - 15:05

                            @Heybargain: All good now. Approved. Took 3 days for me to finalize this outcome. Is there any way to add this CC to Google Wallet before receiving the card?
                            Edit: Found a way to add. Done :)

  • Squidmcsproggen on 27/02/2024 - 14:36

    if i have a NAB credit card in my name and the wife is just a card holder, could she open her own CC account and get the points?

    • timhn on 27/02/2024 - 20:38
      +1

      Yes.

  • gondar on 03/03/2024 - 18:08

    I have applied and was conditionally approved. However on the applications page it says 'You have actions on the next page to complete your application', but when I click through it says my identity is verified. Do I just need to wait?

    • freestyle18 on 07/03/2024 - 11:28

      you almost always need to supply income verification

  • nomnomnom on 09/03/2024 - 14:05

    I assume you need the physical card before you can use it (unlike the Westpac cards which allow you to add to Google Pay and use it immediately?)

    Also any idea if 60,000 velocity points be enough for return economy to South East Asia?

    Cheers

    • Micky14 on 09/03/2024 - 14:28
      +1

      You can add it to Google Pay and use it immediately.

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