PSA: NAB Credit Card Fee Refund Policy Change

LzantaRay on 13/06/2025 - 09:19
Last edited 13/06/2025 - 10:33 by 1 other user

As I'm sure many ozbargainers are aware, NAB has for some time stopped offering pro rata refunds on their credit card yearly fees in the first year.

However when I went to cancel my card yesterday, the customer rep informed me that they quietly changed their policy in March this year to only offer pro rata refunds after 24 months. I lodged a complaint with them but legally speaking they're entitled to it because the pro rata refunds were never written into the contracts. Ce la vie.

Just hoping I can save others some needless cost if anyone else is holding onto a card and planning to cancel after they get the 12 month bonus points on their sign up offer.

Related Stores

National Australia Bank Group (NAB)

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  Drakesy on 13/06/2025 - 11:46

  I lodged a complaint with them but legally speaking they're entitled to it because the pro rata refunds were never written into the contracts.

  Pro rata refunds died a slow death in 2024.
  Pretty much across the board now.
  Even prior to this it was very hit and miss.

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  Craze on 13/06/2025 - 13:30

  +1

  I just cancelled my NAB Signature Rewards card last week- fee is charged monthly (and they also increased from $24 to $35!) so timed it so I cancel before the next billing/statement cycle started.

  For all other CC with yearly fee, I usually set reminders to cancel right after 12 months to not have to deal with hassle of pro rata refunds.