NAB Credit Card Updates 1 October 2026

[SYD]

The crux of the argument is the wording “From 1 October 2026, eligible purchases processed by NAB on or after this date will earn points at the new rate, even if you made the purchase beforehand.” and that NAB statements write “Date Processed”. So to me, this indicates that transactions processed before 1st October should have points calculated under the old system.

I think the wording remains ambiguous in interpretation. The original is:

Can't a consumer reasonably interpret that as meaning the earn rate and cap in the part of the statement period preceding 1 Oct is unchanged? (And I think Bankwest, with similar changes, clarified that this interpretation did apply.)

Yes, I agree. It’s totally ambiguous if not misleading.

SYD+1 is going to complain. I’ll report back.

 

[Jacques Vert]

Wow they have updated transfer rate to SQ KF miles to 5:1. They didn't even announce it prior.

For completeness, 3:1 to Velocity, 12:1 to Accor, 330:1 to NZ Koru Airpoints.

Conversion Rates
NAB Rewards Personal credit cards
6,000 NAB Rewards Points = 2,000 Velocity Points
6,000 NAB Rewards Points = 1,200 KrisFlyer miles
6,000 NAB Rewards Points = 500 ALL Accor Reward points
6,600 NAB Rewards Points = 20 Airpoints

NAB Rewards Business Signature
credit cards
3,000 NAB Rewards Points
= 1,500 Velocity Poin
ts3,000 NAB Rewards Points = 1,000 KrisFlyer miles
3,000 NAB Rewards Points = 500 ALL Accor Reward points
3,000 NAB Rewards Points = 15 Airpoints

Travel Partners - NAB Rewards

Travel Partners

rewards.nab.com.au

Wow; that's pathetic.

So, if I'm reading this correctly, for the NAB Travel Card (formerly NAB Rewards Signature Visa), you earn 1.5 NAB points per $ which coverts to 0.3 SQ points per $ for the first 10k per statement period and then 0.5 NAB points converting to 0.1 SQ points per $ over 10k per statement period. And I get charged $395 per year for this?

I was thinking of keeping this card for the Nil overseas transaction fees and the rental car excess insurance in Australia but I dare say it's headed for the bin.

Of course, finding something to replace it will be the challenge.

 

[ramamba]

So, if I'm reading this correctly, for the NAB Travel Card (formerly NAB Rewards Signature Visa), you earn 1.5 NAB points per $ which coverts to 0.3 SQ points per $ for the first 10k per statement period and then 0.5 NAB points converting to 0.1 SQ points per $ over 10k per statement period. And I get charged $395 per year for this?

It would be more beneficial to transfer via VFF, more so when/if VFF has a transfer bonus to which nab has usually been a party. Then there's also a booster:

Bonus points on groceries, petrol, public transport and travel:
When you spend under $10,000 on eligible purchases in a Rewards Statement period (calendar month): 1.5 NAB Rewards Points + 1 additional NAB Rewards Point (Bonus Points).
When you spend over $10,000 on eligible purchases in a Rewards Statement period (calendar month): 0.5 NAB Rewards Point + 1 additional NAB Rewards Point (Bonus Points).

 

[PeterG]

Aren’t they doing an adjustment to the points balance as at 1 October?
Something like a 50% increase so all existing points keep a similar value to pre 1 October?

 

[HisHoliness]

Aren’t they doing an adjustment to the points balance as at 1 October?
Something like a 50% increase so all existing points keep a similar value to pre 1 October?

Yes I already received my adjustment

 

[PeterG]

Yes I already received my adjustment

Ah ok.
I’ve got the Business Rewards card so everything stays the same regarding redemption rates so no adjustments.