Why we like the NAB Rewards Platinum Card

The NAB Rewards Platinum credit card lets you earn uncapped NAB Rewards Points on your everyday purchases. Plus, earn double points at major department and hardware stores and triple points with Webjet and on overseas transactions. These points can be redeemed for rewards such as gift cards, or transferred to Velocity, Singapore Airlines KrisFlyer, Cathay, Air New Zealand Airports or Flybuys.

You can also earn a handy sign-up bonus of Velocity points or NAB Rewards Points and get a discounted annual fee in the first year.

This card also provides six complimentary insurances including international travel insurance, interstate flight inconvenience insurance and purchase insurances.

Sign-up bonus

Apply for a NAB Rewards Platinum credit card by 31 July 2024 to earn up to 80,000 Virgin Australia Velocity points, when you opt-in to Velocity automatic redemption.

The bonus points are allocated over two years. You’ll receive 60,000 Velocity Points (auto-converted from 120,000 NAB Rewards Points) after you spend $1,000 within 60 days of opening your card. You’ll get an additional 20,000 Velocity Points (auto-converted from 20,000 NAB Rewards Points) when renewing your card for a second year.

To give you an idea of the value of those points, you could book a return Virgin Australia Business Class flight from Brisbane to Sydney for 31,000 Velocity points plus around $79 in taxes & charges. So, with this offer, you could book a round-trip Virgin Australia Business Class flight for two people.

Alternatively, if you choose not to opt-in to Velocity automatic redemption, you could earn up to 100,000 bonus NAB Rewards Points! That’s equal to 50,000 Velocity Points, 33,333 Singapore Airlines KrisFlyer miles, 33,333 Cathay Asia Miles, $500 worth of Flybuys dollars or $480 worth of gift cards.

To learn more about converting NAB Rewards Points into other loyalty programs, see our Credit Card Points Transfer Assistant.

The sign-up bonus points are not available if you have participated in a NAB Rewards bonus points offer for a new personal NAB Rewards credit card or NAB home loan in the past 18 months.

Complimentary travel & other insurances

The NAB Rewards Platinum credit card comes with complimentary international travel insurance. This is underwritten by Allianz and is available when you charge at least $500 worth of prepaid travel costs to your card. Other eligibility criteria apply, including an age limit of 80, which you can review on the NAB Card Insurance eligibility online portal.

Other types of insurance offered with this card include:

• Interstate flight inconvenience insurance
• Rental vehicle excess insurance (within Australia)
• Transit accident insurance
• Purchase protection insurance
• Extended warranty insurance

Before using this insurance, we’d encourage you to read the PDS here.

Earning points

With the NAB Rewards Platinum card, you’ll earn 1 NAB Rewards Points per $1 spent on everyday transactions (excluding government payments and gambling transactions). That’s effectively 0.5 Velocity points or 0.33 KrisFlyer miles per dollar spent.

There is no monthly or annual point-earning cap. You can earn an unlimited number of points at the full rate.

Plus, you can earn bonus points on certain types of transactions! You’ll earn double points (that’s 2 NAB Rewards Points per dollar spent) with Webjet. You can also earn 1.5x points at eligible grocery stores.

Beware that NAB Rewards Points expire after 3 years. You can redeem them or transfer them out to a frequent flyer program such as Virgin Australia Velocity before the points expire, so that you don’t lose them.

Earning points for ATO & government payments

This card does not give points for payments made directly to the Australian Tax Office (ATO) or other government bodies.

However, you can use a payment service such as pay.com.au to pay tax and other bills with this card and still earn NAB Rewards Points at the full rate!

If you’d like a credit card that earns points on ATO payments, you could also consider a NAB business credit card.

Using NAB Rewards Points

NAB Rewards Points can be converted to points or miles in six other loyalty programs, with a minimum transfer of 3,000 NAB Rewards Points at a time. Here’s the full list of transfer partners:

Transfer partners	1 NAB Rewards Point equals…
Accor ALL	0.17 ALL points
Air New Zealand Airpoints	0.005 Airpoints Dollars
Cathay (Asia Miles)	0.33 miles
Flybuys	1 point
Singapore Airlines KrisFlyer	0.33 miles
Virgin Australia Velocity	0.5 points

If you opt-in to Velocity automatic redemption, your NAB Rewards points will be transferred at a 2:1 rate into your Velocity Frequent Flyer account each week.

See our Overview of NAB Rewards Transfer Partners for more information.

Alternatively, you could redeem your points through the NAB Rewards program for rewards including:

• Gift cards
• Cashback
• Retail products
• Donations
• DragonPass airport lounge passes
• Payment towards Webjet travel bookings

Note that according to the NAB Rewards terms & conditions, NAB can change the number of points required to redeem a reward “at any time and without prior notice”.

NAB Rewards Points cannot be converted into Qantas Frequent Flyer points. If you’d like to earn Qantas points, the NAB Qantas Rewards Premium card may be more suitable. Alternatively, you can view our guide to the best Qantas credit card offers, or browse other credit cards in Australia.

Summary

Frequently Asked Questions (FAQs)