NAB enhances™ points earn on their cards

[Nutcase]

Busy day today in Card product land.

Im sure there will be tears.

Awaiting WBC to roll though shortly.

https://www.ausbt.com.au/nab-next-in-line-to-cut-credit-card-frequent-flyer-points

 

[deejo77]

From 1 July 2017 we’re making some changes to the points earn rates and cap on some of our rewards credit cards in response to new regulations being introduced by the Reserve Bank of Australia.
These new earn rates and caps will apply to eligible purchases that appear on your statements issued on or after 1 July 2017. There is no change to the way total purchases are calculated during a statement period.
You’ll find everything you need to know, including the new rates and caps, below.



[h=3]NAB Qantas Rewards Card[/h]

• Visa or MasterCard: No change- remaining at 0.5 Qantas Points per $1 spent
• American Express: Change - from 1 Qantas Point per $1 spent to 0.75 Qantas Points per $1 spent
• Points Cap: Change - the points cap per statement period will change from $20,000 to $3,000 per statement period

[h=3][/h] [h=3]NAB Qantas Rewards Premium Card[/h]

• Visa: No change- remaining at 0.5 Qantas Points per $1 spent
• American Express: Change- from 1.5 Qantas Points per $1 spent to 1 Qantas Point per $1 spent
• Points Cap: Change - the points cap per statement period will change from $25,000 to $5,000 per statement period

[h=3][/h] [h=3]NAB Qantas Rewards Plus Card (no longer for sale)[/h]

• Visa or MasterCard: Change - from 1 Qantas Point per $1.50 spent up to $3,000 and then 1 Qantas Point per $3 spent until $25,000, to 1 Qantas Point per $1.50 spent up to $3,000 and then 1 Qantas Point per $3 spent until $6,000
• American Express: Change - from 1 Qantas Point per $1 spent up to $3,000 and then 0.5 Qantas Points per $1 spent until $25,000, to 1 Qantas Point per $1 spent up to $3,000 and then 0.5 Qantas Points per $1 spent until $6,000
• Points Cap: Change - the points cap per statement period will change from $25,000 to $6,000 per statement period

[h=3]NAB Velocity Rewards Card[/h]

• Visa: No change - remaining at 0.5 Velocity Points per $1 spent
• American Express: Change - from 1 Velocity Point per $1 spent to 0.75 Velocity Points per $1 spent
• Points Cap: Change - the points cap per statement period will change from $20,000 to $3,000 per statement period

[h=3]NAB Velocity Rewards Premium Card[/h]

• Visa: No change - remaining at 0.5 Velocity Points per $1 spent
• American Express: Change - from 1.5 Velocity Points per $1 spent to 1 Velocity Point per $1 spent
• Points Cap: Change - the points cap per statement period will change from $20,000 to $5,000 per statement period

[h=3]NAB Qantas Business Card[/h]

• Earn rate: No change - remaining at 1 Qantas Point per $1.50 spent
• Points Cap: Change - the points cap per card per statement period will change from $100,000 to $50,000 per card per statement period

[h=3]NAB Qantas Business Signature Card[/h]

• Earn rate: Change - from 1 Qantas Point per $1.25 spent to 1 Qantas Point per $1.50 spent
• Points Cap: Change - the points cap per card per statement period will change from $100,000 to $50,000 per card per statement period

 

[deka2]

It's all looking very sick and sorry

 

[lovetravellingoz]

Im sure there will be tears.

Nup. So far I will actually be earn more points per $ than last year.

 

[Buzzard]

Just rang to cancel my card stating that the points earn doesn't justify the annual fee. Fee has been waived for this year so I'll keep the card for now.

 

[ChrisFlyer]

Good to see that at least NAB is retaining AMEX... when they first announced the NAB Rewards cards sans AMEX it looked like the beginning of the end for NAB+AMEX. At least this way, cardholders with the Qantas/Velocity cards can still take advantage of Shop Small and AMEX Offers!

NAB is still missing a Black card though, but whether there's much point in having one (if you'll pardon the pun ) after the RBA regs kick in is another matter...

 

[Nutcase]

NAB is still missing a Black card though, but whether there's much point in having one (if you'll pardon the pun ) after the RBA regs kick in is another matter...

They have had super premium interchange for a while but just never issued a card.

They did a BIN flip at the back end so that the Platinum card was actually earning higher interchange because reasons. Its an old Jedi mind trick that card companies do to play games with interchange.

 

[Nutcase]

Nup. So far I will actually be earn more points per $ than last year.

There are no words.

 

[Daver6]

All this reduction in earning points is going to have to hurt QF Loyalty with a huge reduction in points banks are going to purchase.

 

[Dr Ralph]

All these changes should indicate to people that the best way to earn points is to churn cards.

 

[ChrisFlyer]

They have had super premium interchange for a while but just never issued a card.

They did a BIN flip at the back end so that the Platinum card was actually earning higher interchange because reasons. Its an old Jedi mind trick that card companies do to play games with interchange.

Interesting! I know that most banks had been edging towards Platinum instead of Gold and Signature/World/Infinite instead of Platinum to maximise their revenues (plus 'free upgrades' for existing customers), but that's a new one!

 

[lovetravellingoz]

There are no words.

However the fact of the matter is that my overall average credit card point earn per $ purely on expenditure is substantially up on last year. And indeed has been the best it has been since the point promo days of quite a number of years back.

Sign-on bonii has also been excellent.

WOW has also returned to FF Fold in a useful way and indeed has by itself more than offset my small point loss on VISA/MC earn.

For the time being Pointy End is not just safe, but easier to achieve.

Trick is to play the game the way that benefits oneself, and not how it benefits the corporations.

 

[burmans]

All these changes should indicate to people that the best way to earn points is to churn cards.

That was my conclusion too, I have a CBA card but never use it, the Westpac Altitude I had just cancelled anyway and the only reason I'd apply for a NAB card would be to get a signup bonus.

 

[andyhui01]

Nup. So far I will actually be earn more points per $ than last year.

I am trying to work out how. Would you mind explaining?

 

[samh004]

Not surprised, but unhappy nonetheless, right when I am travelling and spending too...

Might be time I finally looked at an AMEX of my own, and a downgrade of my current NAB Premium because that new earn rate is certainly not worth the annual fee. Luckily I have another 6 months to mull it over.

 

[Pleb Status]

The reduction in points earn to a maximum of only 5000pts/mth would rule these cards out for most medium to high spenders.

Once my triple bonus points credit, the Velocity Premium card will be cancelled even though I do not pay an annual fee....

 

[defurax]

Not surprised, but unhappy nonetheless, right when I am travelling and spending too...

Might be time I finally looked at an AMEX of my own, and a downgrade of my current NAB Premium because that new earn rate is certainly not worth the annual fee. Luckily I have another 6 months to mull it over.

I was thinking about cancelling my NAB premium cards today and get a premium card directly from AMEX, but I then realised that AMEX cards don't offer travel insurance to the additional cardholder. So with NAB for $250/year SWMBO and I both have travel insurance even if we don't travel together. Just that for me is worth the annual fee. So I think my solution is I will keep the NAB premium cards to buy flights/hotel up to 5K and then move to a basic free QF/AMEX card to get points over 5K/month.

 

[andyhui01]

Should I bother with AMEX branded cards or would they be enhanced pretty soon anyway?

 

[Dr Ralph]

Should I bother with AMEX branded cards or would they be enhanced pretty soon anyway?

These have been a very good source of points for me recently. I'd certainly recommend churning them.

 

[lovetravellingoz]

These have been a very good source of points for me recently. I'd certainly recommend churning them.

"Churning" Amex issued cards now is more problematic as it seems that Amex may be enforcing their new 18 month rule. Whether they make one actually wait the full 18 months remains to be seen...

There have been some reports of still gaining sign on bonii, but in general from what I have recently read most have not gained them (unless Amex is waiting the 8 week period to post them now).