NAB Velocity Bonus

[Bagpuss]

Similarly I received the 60k points into my velocity this morning (clears NAB rewards 9am Eastern, into Velocity 20mins later). Card cancelled and managed to avoid the annual fee!

I’d be surprised if NAB let you get away without paying the annual fee if their systems are any good. If you didn’t pay it, they could take it up with Velocity and in term Velocity could cancel your account as they would be partners and allowed to data share as part of the T&C’s.

I’m not saying it would happen but it‘s always a consideration.

I applied for this card today. Though I noticed and took a screenshot of the page stating reduced annual fee of $45 for the first year.

With the current 20% Velocity auto redemption offer currently running means I should get 72,000 points (60,000 plus 12,000 as part of the Velocity offer).

My non AMEX credit card doesn’t earn points so this is a good card in the short term for me I think to earn points where AMEX isn’t accepted, plus can use ZIP pay and then pay using this NAB card and get points again as I used to have Bundll. Worth it for $45 or $95 (I’ll definitely challenge $95) but for $195 after the first year I doubt it as 10,000 Velocity points isn’t worth it.

I wonder if these credit cards will change the incentives so you stay with them longer in the future to prevent churn. IE 20,000 year 1, 30,000 year 2, 40,000 year 3.

 

[A321]

I’d be surprised if NAB let you get away without paying the annual fee if their systems are any good. If you didn’t pay it, they could take it up with Velocity and in term Velocity could cancel your account as they would be partners and allowed to data share as part of the T&C’s.

I’m not saying it would happen but it‘s always a consideration.

I applied for this card today. Though I noticed and took a screenshot of the page stating reduced annual fee of $45 for the first year.

With the current 20% Velocity auto redemption offer currently running means I should get 72,000 points (60,000 plus 12,000 as part of the Velocity offer).

My non AMEX credit card doesn’t earn points so this is a good card in the short term for me I think to earn points where AMEX isn’t accepted, plus can use ZIP pay and then pay using this NAB card and get points again as I used to have Bundll. Worth it for $45 or $95 (I’ll definitely challenge $95) but for $195 after the first year I doubt it as 10,000 Velocity points isn’t worth it.

I wonder if these credit cards will change the incentives so you stay with them longer in the future to prevent churn. IE 20,000 year 1, 30,000 year 2, 40,000 year 3.

Happy to pay their payout figure which didn't include the annual fee, but doubt it would get to velocity level. Others on OzB have the same experience.

 

[MELso]

I’d be surprised if NAB let you get away without paying the annual fee if their systems are any good.

[Narrator] 'NAB's systems were not very good.'

I closed my account on Tuesday after the pre-authorisation dropped off but before the annual fee hit (sadly missing the 20% automatic transfer bonus offered by Velocity, but c'est la vie). Applied for the NAB Qantas Platinum card on Wednesday and was approved Thursday. It should arrive early next week. I'll hopefully meet the minimum spend early the week after...