Changes to NAB Rewards Signature card: No forex fees + earn rate changes

I am looking at this as a replacement for the Coles Rewards MasterCard, being something with a decent miles conversion rate, and 0% FX. I have a NAB transaction account which was ported across from the Citi Plus, and as an existing customer I have a welcome offer slightly better than the public one:

130k on initial spend
50k on first anniversary
$195/yr for life ($16/mo under new structure)

vs

120k on initial spend
40k on first anniversary
$145 for first year reverting to $295/yr ($24/mo under new structure)

So: Does anyone have a sense as to whether there's likely to be a better welcome offer after the cutover on 12 June? Or am I better off locking it in now?
 
twiningb said:
I am looking at this as a replacement for the Coles Rewards MasterCard, being something with a decent miles conversion rate, and 0% FX. I have a NAB transaction account which was ported across from the Citi Plus, and as an existing customer I have a welcome offer slightly better than the public one:

130k on initial spend
50k on first anniversary
$195/yr for life ($16/mo under new structure)

vs

120k on initial spend
40k on first anniversary
$145 for first year reverting to $295/yr ($24/mo under new structure)

So: Does anyone have a sense as to whether there's likely to be a better welcome offer after the cutover on 12 June? Or am I better off locking it in now?
Click to expand...
I'm in the same boat but not sure where is this offer. Is it in the NAB app or email or somewhere else please?
 
Happy Dude said:
I'm in the same boat but not sure where is this offer. Is it in the NAB app or email or somewhere else please?
Click to expand...
For me, both: Once logged-in, navigate Products > Credit cards > NAB Rewards > NAB Rewards Signature, and the offer terms are shown there.
 
Happy Dude said:
I'm in the same boat but not sure where is this offer. Is it in the NAB app or email or somewhere else please?
Click to expand...
twiningb said:
For me, both: Once logged-in, navigate Products > Credit cards > NAB Rewards > NAB Rewards Signature, and the offer terms are shown there.
Click to expand...

Yes; you need to be logged in to see the offer for existing customers.
 
So after jumping through numerous hoops I've finally been approved for the NAB Signature Rewards card and have cancelled my Coles Credit Card. It's a pity that NAB have reduced the earn on overseas spend as I'm heading to EUR in a couple of days; however, the 0% fee for overseas transactions is the main reason for applying for this card: to replace my Coles Credit Card which I have now cancelled.

So only 0.75 pts per $ to VA or 0.5 pts per $ to Kris or CX but better than nothing. On my previous trips o/s I used my Citibank Plus account for no overseas transaction fees but, of course, didn't receive any points. The NAB card gives me the zero overseas transaction fee (which is my main requirement) and throws in a few points as well.

Throw in the sign-on bonus and I'm a happy camper...at least for the next 6 months.
 
Last edited:
No; from the T&Cs:

What transactions don’t earn Points?There are some transactions which can be madeusing your Card which won’t earn Points becausethey aren’t eligible. They are:
...
(k) for Personal Rewards Card Account,transactions where the Card is used to makepurchases through BPAY®;
 
can the nab points be converted to qantas points? all i could find it their site is for velocity
 
csgo said:
can the nab points be converted to qantas points? all i could find it their site is for velocity
Click to expand...

No, you need to get a co-brand Qantas card to earn Qantas points.

Here’s the list of airlines you can transfer NAB points to:

www.australianfrequentflyer.com.au

Overview of NAB Rewards Transfer Partners - Australian Frequent Flyer

You can transfer NAB Rewards points to 6 frequent flyer and loyalty programs, as listed below. Click on any airline logo to learn more about redeeming
www.australianfrequentflyer.com.au www.australianfrequentflyer.com.au
 
I've just received email from NAB today:

Thanks for banking with NAB. We’ve recently completed a review of our credit card fees. As a result, from 14 April 2025, the monthly credit card fee on your NAB Rewards Signature Credit Card will increase from $24 per month to $35 per month.

The monthly credit card fee will continue to be reversed if you spend $5,000 or more in a statement period5.

If you’re on a package that has your monthly card fee waived, it will continue to be waived. Fees may incur, when or if, your package ends. Please refer to the Terms and Conditions of your package for full details.
 
kamchatsky said:
I've just received email from NAB today:

Thanks for banking with NAB. We’ve recently completed a review of our credit card fees. As a result, from 14 April 2025, the monthly credit card fee on your NAB Rewards Signature Credit Card will increase from $24 per month to $35 per month.

The monthly credit card fee will continue to be reversed if you spend $5,000 or more in a statement period5.

If you’re on a package that has your monthly card fee waived, it will continue to be waived. Fees may incur, when or if, your package ends. Please refer to the Terms and Conditions of your package for full details.
Click to expand...
Looks like they're matching the fee with Commbank's Ultimate Awards Credit Card. Wonder if they'll follow Commbank and switch their other credit card products to monthly fees.
 
kamchatsky said:
I've just received email from NAB today:

Thanks for banking with NAB. We’ve recently completed a review of our credit card fees. As a result, from 14 April 2025, the monthly credit card fee on your NAB Rewards Signature Credit Card will increase from $24 per month to $35 per month.

The monthly credit card fee will continue to be reversed if you spend $5,000 or more in a statement period5.

If you’re on a package that has your monthly card fee waived, it will continue to be waived. Fees may incur, when or if, your package ends. Please refer to the Terms and Conditions of your package for full details.
Click to expand...
Got the same email. I only got this card last year before my trip to Europe so that I could get points without paying international transaction fees. But if they think I'm going to pay an annual fee of $420 they're dreaming.

So now I'll need to decide which new card to apply for and who to transfer my points to. There was a time that transferring to Kris would have been a no-brainer but the 3:1 transfer rate (together with the 3-year hard expiry) has made that unattractive, especially as I have no overseas travel planned for this year. Maybe I'll transfer to FlyBuys and wait for a bonus offer for VA.
 
Jacques Vert said:
Got the same email. I only got this card last year before my trip to Europe so that I could get points without paying international transaction fees. But if they think I'm going to pay an annual fee of $420 they're dreaming.

So now I'll need to decide which new card to apply for and who to transfer my points to. There was a time that transferring to Kris would have been a no-brainer but the 3:1 transfer rate (together with the 3-year hard expiry) has made that unattractive, especially as I have no overseas travel planned for this year. Maybe I'll transfer to FlyBuys and wait for a bonus offer for VA.
Click to expand...

But then if you spend >$5000 per month, you monthly fee is waived. I found that I have only paid for 2 month's worth of monthly fee since April last year. For me it is still a keeper for now, especially I can whack in upcoming travel costs to ensure that I get travel insurance from it. I churn other cards instead.

Also NAB has stopped providing bonus points for signing up of this card. I suspect that this card has been very popular so that the bonus point offer is not even required.
 

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