NAB Signature prorated annual fee refund

[http_x92]

oh @http_x92 , you are surely jinxing me. I've just reached my min spend.
Do points credit only after the next billing cycle has ended? Once I see the points, I'll close card. (and then try for next one)

Qantas Points are only credited at the next statement. So wait for that, and then close the card if you wish.

 

[Bugman]

Just to update on my experience. I used online chat to close the account. Had to wait 15 mins for the chat to get through the queue. They were proactive about telling me there would be a pro-rata annual fee refund. Asked for my bank account details and said the money would be transfered overnight. Told me that they would send an account cancellation letter.

Couldn't be much easier.

And I get 100,00 QFF points for just $16.24 once the annual fee refund is processed!

Are you talking about canceling in the first or 2nd month of holding the card or in the 13th/14th month? do they also refund the annual fee pro rata in the first year? the replies before yours all seem to be referencing the 2nd year.

 

[Dr Ralph]

Are you talking about canceling in the first or 2nd month of holding the card or in the 13th/14th month? do they also refund the annual fee pro rata in the first year? the replies before yours all seem to be referencing the 2nd year.

I cancelled my card as soon as the points had posted. This was about 6 weeks after receiving the card.

 

[levelnine]

This is an excellent tip. Thanks for sharing. Ended up paying about $30 for 100K QFF points. Completely changed my view on the value proposition of NAB cards.

 

[Bugman]

Awesome. I just applied for the ANZ card. anyone know if they have the same policy?

 

[Kangol]

You will I just did this recently (as posted on the other thread).

I got the NAB Signature Black in April 2021, as there was no annual fee in first year it was an easy 100k points.

I meant to cancel in March 2021, but there was a lot going on and I forgot so it auto-renewed in April and I only noticed when the 25k bonus points hit QFF on 1st May. At that point I stopped using the card and once the points for May spend had posted on 1st June, I cancelled the card.

Much to my surprise NAB refunded $362 of the $395 annual fee, meaning those 25k bonus points cost $33, not a bad earn rate.

Was the no annual fee offer through the NAB public website or through another avenue like Pointhacks?
I'm guessing you meant April 2020..

 

[Lynda2475]

Was the no annual fee offer through the NAB public website or through another avenue like Pointhacks?
I'm guessing you meant April 2020..

Oops yes 2020, offer was a public one.

 

[Kangol]

Oops yes 2020, offer was a public one.

Thanks, the no annual fee offers are probably a thing of the past now...

 

[Dr Ralph]

Thanks, the no annual fee offers are probably a thing of the past now...

They do still exist. Greatly reduced of course. But the game is always changing.

 

[http_x92]

Thanks, the no annual fee offers are probably a thing of the past now...

ANZ still has its Rewards (not frequent flyer) cards being first year free, but yes no Qantas Card with first year free as of now (except Qantas Business Rewards Amex). It might be around the corner though.

 

[woodyren]

Had my NAB Qantas Signature card for less than two months. Points awarded on second statement. Called today to request a final payout figure and mentioned that I wished to pay in full in order to cancel the card. The consultant without me requesting them to do so removed the pro rata value of the unused portion of the AF from my final payout figure. 90K pts for around $50 is great value.

 

[MooTime]

I'll cancel after 2nd year to get the 2nd tranche of points, the extra 20k plus the full year of Qantas points on everyday purchases. To me that works out about extra total ~65k in points including bonus for the 2nd year fee then cancel & get Pro rata on 2nd year fee.
If that makes sense, does to me!

 

[sudoer]

If that makes sense, does to me!

It makes sense if you intend to use it as an everyday card. But you would also come out ahead if you cancelled and signed up again in 12 months for another 90-100k (whatever the promo is at that time)

Really depends on your appetite for effort/hassle.

 

[MooTime]

It makes sense if you intend to use it as an everyday card. But you would also come out ahead if you cancelled and signed up again in 12 months for another 90-100k (whatever the promo is at that time)

Really depends on your appetite for effort/hassle.

That's true, but I'll more than likely cancel in 12 months & sign up for another then & there.

I still can't believe nab Pro rata the fee.

 

[woodyren]

That's true, but I'll more than likely cancel in 12 months & sign up for another then & there.

I still can't believe nab Pro rata the fee.

But if you do that you are not eligible for a NAB sign up bonus so you are forgoing the opportunity to gain 90K or so points and also paying the full first years AF. Cancelling and moving on to the next card(s) is worth the effort for me. I can still earn Qantas points on other cards as I work my way through each one.

As sudoer said......It's whether you can be bothered with the effort to do the changes.

 

[woodyren]

They do still exist. Greatly reduced of course. But the game is always changing.

With the consistent pro rata refunds of AF that currently seems to be happening this NAB card is almost a zero AF offer. Particularly in how quickly the points are also posting.

 

[MooTime]

But if you do that you are not eligible for a NAB sign up bonus so you are forgoing the opportunity to gain 90K or so points and also paying the full first years AF. Cancelling and moving on to the next card(s) is worth the effort for me. I can still earn Qantas points on other cards as I work my way through each one.

As sudoer said......It's whether you can be bothered with the effort to do the changes.

Ok I see what you & Sudoer are saying.

The next offer / card I apply for won't necessarily be NAB though. If it was to be then yes your correct I'd be ineligible.

But yes I can be bothered with the effort to apply for new card.

 

[Dr Ralph]

With the consistent pro rata refunds of AF that currently seems to be happening this NAB card is almost a zero AF offer. Particularly in how quickly the points are also posting.

Yep, $16.24 for me for 100,000 QFF points using this approach. Whole process over within two months. 12 month waiting period starts again for NAB.

Churn and burn forever!

 

[Captain Halliday]

Data point as at 25/06/22: This remains a very low fee card.

 

[sudoer]

Data point as at 25/06/22: This remains a very low fee card.

Confirming this as at 12/07/22. $24.57 for 100k - yes thanks.