NAB Premium Rewards Card 40k bonus QFF Points with $0 annual fee first year

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Wow, just got mine in time then. Pleasant surprise after being rudely declined by ANZ.

Completed first spend and waiting for the 40,000 points to arrive.
 
I applied online Tuesday night under the 40k bonus and $0 first year annual fee, got approved and cards arrived yesterday.
Welcome pack and PIN will probably arrive Monday.

I called up and asked for my credit limit and was told it was a pitiful $6k. So they made the decision easy for me, I will definitely be cancelling this card once I bank the 40k. Needed to be $15k+ for me to consider keeping it.
 
bullerdude said:
Yes I believe when they don't approve you for a certain credit limit then they tend to auto-offer you a lower product that you don't qualify for - and that may end up as a credit check on your record as well.

Call up the local call centre (if possible?) and decline the offer, they might offer you the better one.
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burmans said:
There is definitely a credit check here, even if you get declined they have checked your credit record as part of doing so.
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Thanks. I rang the local centre and the guy was unable to offer me the better one, but said that I was offered the basic card, no annual fee for the first year and 20k bonus. I asked if I was eligible for it again, given that I had just received the same 20k offer and cancelled my basic card. He said yes - it is treated as a new application.
Another thing which was mentioned was that if you sign up for cards for the bonus and spend very little on them and then cancel, it doesn't look good on your "NAB history".
He also mentioned that the offer is still held for 3 months - I still have that time to let them know that I "accept" it. There is the option to have the decision reviewed but the reviewing team have the option to reduce the current offer or even decline it outright.
If that is done within 30 days then they would use the current credit report, if longer then it is possible they can order a new one if needed and not inform me of it.
I might just get this one, spend a reasonable amount, then cancel it and not bother with NAB again - doesn't look like they want my (future) business.
 
Nizar said:
I applied online Tuesday night under the 40k bonus and $0 first year annual fee, got approved and cards arrived yesterday.
Welcome pack and PIN will probably arrive Monday.

I called up and asked for my credit limit and was told it was a pitiful $6k. So they made the decision easy for me, I will definitely be cancelling this card once I bank the 40k. Needed to be $15k+ for me to consider keeping it.
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Interesting. It's usually the earn rate that makes we want to keep a card. If I'm not using it regularly I just see a high limit as a weight round my neck when applying for the next card
 
I grabbed the NAB Premium Rewards through the prior promotion (20k bonus) and was pleasantly surprised to have received an extra 20k bonus just now! Very impressed :D
 
I have more AMEX cards than I need, but I'd like the Visa card. Do I have to take the AMEX too or can I get the 40K points just on Visa?
 
get me outta here said:
I have more AMEX cards than I need, but I'd like the Visa card. Do I have to take the AMEX too or can I get the 40K points just on Visa?
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Have to take both cards. The limit is combined. The visa earn is not very good.

As a bank issued Amex it is useful for insurance, utilities etc.


It's ATO days must be numbered. Once ATO is gone I wouldn't keep one if I had to pay a fee (comes free with some NAB mortgages and in that case 0% balance transfers are useful).
 
Yes, the Amex card comes with it but of course you don't have to use it, so just use the VISA. Your credit limit remains the same and applies to both cards jointly, so just put the Amex card aside and forget it, presuming your other Amex cards give you more points per dollar than the NAB Amex.
 
If you're after a Visa card this seems to be a particularly poor choice at 0.5 points per dollar. ANZ black visa earns 0.75 points per dollar and St George is the same. Perhaps look at them
 
Nizar said:
If you're after a Visa card this seems to be a particularly poor choice at 0.5 points per dollar. ANZ black visa earns 0.75 points per dollar and St George is the same. Perhaps look at them
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Better still is the HSBC Platinum for $199 that gives you 20,000 points plus two lounge passes and is the only card I know that gives you 1 point per dollar for VISA. Compare this with the hefty cost of an ANZ Black for fewer points (although you can get 50,000 points as a bonus.
 
It all depends on whether you really want to use the card or just to get the bonus and then churn, really!
 
Thanks for the comments. I do have the ANZ Black, but am closing that before the 12 months up, unless they waiver the fee. Have the WOW card for another 12 months free (but 2500 points limit per month). Now looking for a good Visa or M/C. Maybe I can morph the HSBC WOW card into the HSBC Platinum that borsa mentioned without going through a tiresome application. ;) I'd like 1:1 and no fee.


burmans said:
It all depends on whether you really want to use the card or just to get the bonus and then churn, really!
Click to expand...
 
Anyone know how long after I cancel my earlier NAB Card (whereby I paid the annual fee) could I then apply for this one for the same bonus of 40k pts?

TIA.
 
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