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NAB Rewards Platinum Card – Velocity Points
Bonus Point
Interest Rates
80000
20.99
Reward Point
1
Annual fee
$95 first year ($195 after)
Pros.
Earn up to 80,000 bonus Velocity Points
Enjoy a discounted $95 annual fee for the first year
Earn an additional 0.5 NAB Rewards Points per $1 spent at eligible grocery stores
Access Visa Premium benefits and 24/7 NAB Platinum Concierge Services
Benefit from a 0% p.a. interest rate on balance transfers for the first 12 months
Cons.
You must keep the card for at least 12 months to earn all the bonus points, which means paying the annual fee for the second year
3.5% international transaction fee
A 3% fee applies to the balance transfer offer
Details
Product Details
Product Name
NAB Rewards Platinum Card – Velocity Points
Balance transfer rate p.a.
0% for 12 months with 3% balance transfer fee, then 21.74%
Balance transfer limit
90% of available limit
Purchase rate p.a.
20.99
Interest-free days
Up to 44 days on purchases
Cash advance rate p.a.
21.74%
Min credit limit
$6,000
Card type
Visa
Fees & Charges
Annual fee
$95 first year ($195 after)
Minimum monthly repayment
0% for 12 months with 3% balance transfer fee, then 21.74%
Late payment fee
$15
Foreign currency conversion fee
3.5%
Cash advance fee
3% or $3, whichever is greater
Overseas cash advance fee
$5
Additional cardholder fee
$0
Number of additional cardholders
1
Eligibility
Available to temporary residents
Yes with conditions
Minimum income
N/A
Joint application
No
Rewards
Rewards program
1
Bonus points
80000
Rewards points per $ spent
1
Rewards points cap
N/A
How to Apply
Eligibility Criteria:
New Customer: The bonus Velocity Points offer is available exclusively to new NAB customers, meaning you must not have held a NAB Rewards card in the past 18 months.
Velocity Member: You need to be a member of the Velocity Frequent Flyer program.
Residency: You can apply if you're an Australian citizen or permanent resident. If you're not a citizen or permanent resident, you must hold an acceptable visa. Many visa types are eligible, but the following are not: Visitor Visa (except for Special Category Visa – NZ Citizen), Working Holiday, Student, Exchange/Gap Year, Transit/Short Stay/Seasonal, and Bridging.
Eligible Balance Transfer Debt: You can transfer up to 90% of your approved credit limit from non-NAB accounts.
Age: You must be at least 18 years old to apply.
Required Documents:
Personal Information: This includes your full name, date of birth, marital status, residential address, email address, and contact number. You’ll also need to provide identification, such as your driver’s license number.
Employment Information: This includes your employer’s name and contact details, your role, the duration of your employment, and salary details. You may be asked to submit recent payslips or bank statements.
Financial Information: This includes details of your income, assets (such as savings, shares, or investments), as well as any existing cards, loans, debts, and ongoing financial obligations (e.g., groceries, fuel).
Balance Transfer Details: If you’re completing a balance transfer, you’ll need to provide the transfer amount and your previous account details.
Card benefits
Eligibility Criteria:
New Customer: The bonus Velocity Points offer is available exclusively to new NAB customers, meaning you must not have held a NAB Rewards card in the past 18 months.
Velocity Member: You need to be a member of the Velocity Frequent Flyer program.
Residency: You can apply if you're an Australian citizen or permanent resident. If you're not a citizen or permanent resident, you must hold an acceptable visa. Many visa types are eligible, but the following are not: Visitor Visa (except for Special Category Visa – NZ Citizen), Working Holiday, Student, Exchange/Gap Year, Transit/Short Stay/Seasonal, and Bridging.
Eligible Balance Transfer Debt: You can transfer up to 90% of your approved credit limit from non-NAB accounts.
Age: You must be at least 18 years old to apply.
Required Documents:
Personal Information: This includes your full name, date of birth, marital status, residential address, email address, and contact number. You’ll also need to provide identification, such as your driver’s license number.
Employment Information: This includes your employer’s name and contact details, your role, the duration of your employment, and salary details. You may be asked to submit recent payslips or bank statements.
Financial Information: This includes details of your income, assets (such as savings, shares, or investments), as well as any existing cards, loans, debts, and ongoing financial obligations (e.g., groceries, fuel).
Balance Transfer Details: If you’re completing a balance transfer, you’ll need to provide the transfer amount and your previous account details.
Rates & fees
Annual Fee: Outside of promotional offers, this card has an annual fee of $195.
Purchase Rate: A variable interest rate of 20.99% p.a. applies to purchases made with this card.
Interest-Free Days: Enjoy up to 44 interest-free days on purchases, provided you pay your balance in full or, if applicable, the interest-free days amount by the statement due date.
Cash Advance Rate: Cash advances attract a variable interest rate of 21.74% p.a.
Cash Advance Fee: A fee of 3% of the transaction amount or $3 (whichever is greater) applies when withdrawing cash or making cash-equivalent transactions.
Credit Limits: The minimum credit limit for this card is $6,000, while the maximum is $30,000.
International Transaction Fee: A fee of 3.5% of the total transaction amount in Australian dollars applies to foreign currency transactions, including purchases made overseas or online with international merchants.