NAB Changes Sign-Up Bonus Exclusion Period from 12 to 18 Months

[levelnine]

It is interesting to see that NAB is really starting to restrict credit card churning. First they removed the automatic pro rata refund of annual fees, though YMMV about the enforcement of this.

Now they have moved their exclusion period for a sign-up bonus from 12 to 18 months. It will be very interesting to see if the other big banks follow suit.

 

[jakeseven7]

Thanks! Just about to kill a nab card so will keep an eye on this

 

[Human]

It is interesting to see that NAB is really starting to restrict credit card churning. First they removed the automatic pro rata refund of annual fees, though YMMV about the enforcement of this.

Now they have moved their exclusion period for a sign-up bonus from 12 to 18 months. It will be very interesting to see if the other big banks follow suit.

At this point the 18-month restriction seems to apply to Qantas cards, but not NAB rewards cards (I always get the NAB Rewards cards and transfer the points to either KrisFlyer or Velocity).

One more thing: I took out an NAB Rewards credit card in September, but to my dismay I subsequently realised that I’d mistimed my application and that it was only 10-and-a-half months since I had cancelled my previous NAB Rewards card. I resigned myself to not receiving the sign-up bonus (which was no big deal, as due to my home loan with NAB I wasn’t paying an annual fee for the card).

I was pleasantly surprised a month or so later to receive the sign-up bonus anyway.

 

[Oubline]

Thank you for pointing this out!

I’m an existing NAB customer and applied through the ‘Products’ screen in desktop internet banking last week when my 12 months exclusion finished from last time I held the card.

I checked again just now and the text there remains a 12 month exclusion period for the Qantas cards. I didn’t realise that it was 18 months elsewhere.

Not sure if there are two different offers, for my own case I’m hoping I don’t need to follow up. I did take my normal precautions of screenshots throughout the application.

Like you said it’ll be interesting to see what other banks do.

 

[CaptainCurtis]

Good pick-up! The 18 months is definitely a bummer, but the highlighted part is interesting - appears to suggest the restriction doesn't apply to the NAB Rewards card range, or in other words, you can get bonus points on both. ANZ allow the same.

This bonus Qantas Points offer is not available to existing customers who have received or are entitled to receive NAB Qantas Rewards bonus points for a new personal NAB Qantas Rewards credit card in the 18 months prior to the opening of a NAB Qantas Rewards Signature Card or NAB Qantas Rewards Premium Card. This advertised offer of bonus points is not applicable or valid in conjunction with any other advertised or promotional offer.

 

[_TheTraveller_]

Does anyone know this will apply retrospectively? It sucks that this was a recent change but I'm at 16 months since my last NAB card and I'm looking for a new card.

 

[levelnine]

Does anyone know this will apply retrospectively? It sucks that this was a recent change but I'm at 16 months since my last NAB card and I'm looking for a new card.

There is no retrospectivity to speak of.

You're bound by the terms and conditions that apply on the offer you're looking to apply for.

If the offer says 18 months and it's been 16 months, you're not eligible for that offer.

 

[Bolt]

At this point the 18-month restriction seems to apply to Qantas cards, but not NAB rewards cards (I always get the NAB Rewards cards and transfer the points to either KrisFlyer or Velocity).

One more thing: I took out an NAB Rewards credit card in September, but to my dismay I subsequently realised that I’d mistimed my application and that it was only 10-and-a-half months since I had cancelled my previous NAB Rewards card. I resigned myself to not receiving the sign-up bonus (which was no big deal, as due to my home loan with NAB I wasn’t paying an annual fee for the card).

I was pleasantly surprised a month or so later to receive the sign-up bonus anyway.

Can confirm this. I had the same problem of accidentally applying too soon. However, I've recently received the bonus points.

 

[Kartz]

I recently closed my Qantas Rewards Signature after 2.5 months and subsequently found out that I won't get a pro rata refund of the annual fees. How disappointing

 

[oz_mark]

I recently closed my Qantas Rewards Signature after 2.5 months and subsequently found out that I won't get a pro rata refund of the annual fees. How disappointing

Yes, NAB stopped doing it in the first year.

 

[Seano987]

I called NAB when I realised I had only waited 14 months, not 18 months. I wasn't sure if the T&Cs had changed after my application so was just calling to enquire.
They offered (without me even asking) to give the points anyway as apparently they have a grace period for applications that were within 6 months of the rule change (which was in Nov 2022 as it turns out).
This only happened this week and they said it would take a week for points to arrive, so hopefully they come!
Worth a call to NAB for anyone who's in the same boat.

 

[yojohnny]

At this point the 18-month restriction seems to apply to Qantas cards, but not NAB rewards cards (I always get the NAB Rewards cards and transfer the points to either KrisFlyer or Velocity).

One more thing: I took out an NAB Rewards credit card in September, but to my dismay I subsequently realised that I’d mistimed my application and that it was only 10-and-a-half months since I had cancelled my previous NAB Rewards card. I resigned myself to not receiving the sign-up bonus (which was no big deal, as due to my home loan with NAB I wasn’t paying an annual fee for the card).

I was pleasantly surprised a month or so later to receive the sign-up bonus anyway.

Very lucky. I stuffed up a few years ago before getting on top of my spreadsheet with Westpac and didn't get the bonus, with a similar timeframe to yours!

 

[RooFlyer]

NAB were pretty kind to me. I called to change from my Qantas earning card to one where I can transfer to Virgin Velocity. It was simply done, over the phone, and the card arrived a week or so later.

Imagine my pleasant surprise when I found 90,000 points in my NAB account as a bonus for the new card!

 

[nightelves]

NAB were pretty kind to me. I called to change from my Qantas earning card to one where I can transfer to Virgin Velocity. It was simply done, over the phone, and the card arrived a week or so later.

Imagine my pleasant surprise when I found 90,000 points in my NAB account as a bonus for the new card!

Wait I didn't know Nab had a cc that earned Velocity points.

 

[oz_mark]

Wait I didn't know Nab had a cc that earned Velocity points.

Velocity is a transfer option from NAB Rewards,

 

[RooFlyer]

Wait I didn't know Nab had a cc that earned Velocity points.

NAB Rewards card earns NAB points, which can be transferred to Velocity. At some stage there was a promo on if you put 'auto transfer' on there was a bonus.

 

[Seano987]

I called NAB when I realised I had only waited 14 months, not 18 months. I wasn't sure if the T&Cs had changed after my application so was just calling to enquire.



They offered (without me even asking) to give the points anyway as apparently they have a grace period for applications that were within 6 months of the rule change (which was in Nov 2022 as it turns out).



This only happened this week and they said it would take a week for points to arrive, so hopefully they come!



Worth a call to NAB for anyone who's in the same boat.

*Update* Points arrived today.

 

[Oubline]

Thank you for pointing this out!

I’m an existing NAB customer and applied through the ‘Products’ screen in desktop internet banking last week when my 12 months exclusion finished from last time I held the card.

I checked again just now and the text there remains a 12 month exclusion period for the Qantas cards. I didn’t realise that it was 18 months elsewhere.

Not sure if there are two different offers, for my own case I’m hoping I don’t need to follow up. I did take my normal precautions of screenshots throughout the application.

Like you said it’ll be interesting to see what other banks do.

I got my points but they didn’t automatically post. I was initially deemed ineligible for having had a card within the last 18 months (it had been 13 months). As mentioned I’d 100% applied under terms that referred to a 12 month exclusion period still.

To their credit NAB was very reasonable and gave the points after a single phone call. But just for the record, it probably won’t be smooth sailing applying through internet banking as a NAB customer even though the terms there continue to reference 12 months.

 

[gidxg03]

If I go into my NAB online banking and select products/credit cards then the NAB Qantas Rewards Signature Card terms state:

This bonus Qantas Points offer is not available to existing customers who have received or are entitled to receive NAB Qantas Rewards bonus points for a new personal NAB Qantas Rewards credit card in the 12 months prior to the opening of a NAB Qantas Rewards Signature Card or NAB Qantas Rewards Premium Card. This advertised offer of bonus points is not applicable or valid in conjunction with any other advertised or promotional offer.

Wonder have they just forgotten to update this section?

 

[levelnine]

Wonder have they just forgotten to update this section?

If you do decide to apply, I'd be time dated taking screenshots of the application as you'll probably be in for a fight to get the bonus points.