NAB Velocity Card- Enhancement

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blankman

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Jul 24, 2007
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Just received my cc statement today and there was a notice stating that as of 1 May 2015 NAB is cutting the monthly reward point limit from $100K spend each month to $20K on the NAB Velocity Card. ATO transactions will also be ineligible for points from this date.

I have the premium card and still received the update so it seems like both types will have the enhanced limit. They direct customers to the velocity card terms and conditions on the nab site but I can only find an old 2013 version.

Not sure if this is a sign that NAB plans to introduce a higher grade card by this date or if it's just a race to the bottom- disappointing though as it was great having a decent points limit with a reasonable annual fee.
 

smit0847

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Anyone been offered anything like an annual fee waiver when threatening to cancel the card? I'm wondering whether to keep it.
 

Grimace1

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Anyone been offered anything like an annual fee waiver when threatening to cancel the card? I'm wondering whether to keep it.

I have this years annual fee waived with my NAB Velocity Card when I called up and stated there were better p/p $ offers and got it waived :D
 

knasty

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I have this years annual fee waived with my NAB Velocity Card when I called up and stated there were better p/p $ offers and got it waived :D

Thanks. Gives me hope for my conversation in a few weeks.
 

psi999

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Thanks- i just called up and they waived the upcoming annual fee. Seems fairly standard in this environment now!

Interesting.

I called up to cancel a couple of days ago and was informed that being a rewards card they wouldn't able to waive the fee (i didn't push the point - asking for a comp).... but did mention the date at which the annual fee would be deducted (June 18th) so i could possibly hang onto the card for another month yet.

Given had i cancelled on the spot i would have lost this months points (4000 odd) i agreed to call back in the coming weeks. Hopefully calling back with a $0 balance might add some clout.

If you dont mind me asking how far out was your annual fee due? and what sort of $'s have you put through the card?... I'm somewhere around the ~$35000 mark in the past 10 months on the AMEX.

Edit - NAB Platinum Velocity
 
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smit0847

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Interesting.

I called up to cancel a couple of days ago and was informed that being a rewards card they wouldn't able to waive the fee (i didn't push the point - asking for a comp).... but did mention the date at which the annual fee would be deducted (June 18th) so i could possibly hang onto the card for another month yet.

Given had i cancelled on the spot i would have lost this months points (4000 odd) i agreed to call back in the coming weeks. Hopefully calling back with a $0 balance might add some clout.

If you dont mind me asking how far out was your annual fee due? and what sort of $'s have you put through the card?... I'm somewhere around the ~$35000 mark in the past 10 months on the AMEX.

Edit - NAB Platinum Velocity

1 month before annual fee, nab platinum velocity, about $2k per month spend
 

psi999

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Thanks, thats fantastic. Fingers crossed for similar treatment :)

Well called up again after monthly points posted yesterday.... nothing to lose this time round.

Stated id love to keep the card but can't justify the annual fee (given the AMEX platinum edge for $195 with free return flight and excellent earning etc) - Wasn't offered annual fee wave and was cancelled on the spot.

40,000 bonus points and 50,229 'spend' points (via $33,486 in amex purchases) over the past 12 months.... Bit of a loss (as quite liked NAB as a bank) but will move applicable 2 and 3 point spend over to platinum edge and the rest to citi signature... both citi and platinum edge also convert with velocity 15% bonus as well a few times a year so i'll be bugger all points behind :D

Will be interesting to see if others have better luck... NAB must be cancelling so many cards right now.
 
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knasty

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I got this during the 40k points $150 fee promo. Then got the QFF card during the 40k points no annual fee promo. About a month ago I asked to.cancel the QFF and roll the credit limit into my VFF which was done. My Vff annual fee posted so I rang today and asked for it to be waived or for.a 0% BT to make it worthwhile. They waived the.fee and gave me 12 months 0% on my full available balance of approx 20k. Pretty happy with that result. Fwiw I put about 30K through The Vff card last year. It's worth ringing and asking for a deal!
 

psi999

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Nov 19, 2009
Posts
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Incredibly hit and miss based on my reply above though.

However i suspect my call may have been handled by an operator who gave zero fu*ks.... certainly worth a shot though.
 

knasty

Active Member
Joined
Mar 11, 2010
Posts
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It may be operator specific but I do think they can also.differentiate between an offer churner and a disengaged customer. He knew I had insurance with Nab, he inquired about my home loan with another provider (as they do each time). I choose carefully those institutions which I treat 'mean' knowing I will never use them for anything other than bonus deals, and those such as Nab which I will use normally so long as the price is right...
 
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