NAB Velocity Rewards Premium (75,000 Velocity points $150 annual fee/$1500 spend)

[Dr Ralph]

It's now only 25k bonus Velocity Points for the same card

Yep, disappointing. I was looking at getting back onto the NAB teat.

 

[get me outta here]

The original link here still shows 75,000 sign on (on my iPad) .

 

[woodyren]

Are you serious.....?
I am presuming you applied for the card, got the points, and now want the annual fee refunded..? Ridiculous if that's the case

What T&C have they actually breached?

Fine if your at the start of a new year and your cancelling, but not in this case. Age of entitlement eh!

They breached their T&C's which state "bonus points will be awarded within 90 days of eligible purchase"

There are plenty of posts on here about other credit cards having annual fee pro rata reimbursed once bonus points have been awarded so its not actually so ridiculous after all.

Sorry Dr Ralph I didn't read the HSBC in you post. Will see what transpires with my on the phone dispute and then follow up in writing.

 

[Dr Ralph]

The original link here still shows 75,000 sign on (on my iPad) .

I assume you mean this link from the first page:

Velocity Premium Exclusive - nabcampaigns

If so, I get the following message when following that link:

'

Please note

Service unavailable The special invitation to apply for a NAB credit card has expired.'

 

[get me outta here]

Just tried it again on the iPad mini and it still shows 75K on the link in this post.

I assume you mean this link from the first page:

Velocity Premium Exclusive - nabcampaigns

If so, I get the following message when following that link:

'

Please note

Service unavailable The special invitation to apply for a NAB credit card has expired.'

 

[Dr Ralph]

Just tried it again on the iPad mini and it still shows 75K on the link in this post.

Follow the link and go to start an application and see what happens.

 

[get me outta here]

Yep, it is defunct.

Follow the link and go to start an application and see what happens.

 

[woodyren]

I called to close my card today. Asked for reimbursement of annual fee.....answer "no can do as you have received bonus points". I reminded them that NAB had breached their T&C's and also how others had been given pro rata or full AF refunds. "again no can do".

I then asked to speak to a manager but after the banker at the call centre put me on hold he then came back and said..." no can do. I can only raise a dispute and they will address the issue"

Dr Ralph. Did you have to jump through hoops like this.

Surely if a bank breaches it own T&C's I am entitled to some compensation.

Then again maybe they see that I got 3 lots of BP's and are playing hardball as a result.

Will keep trying.

Are you serious.....?
I am presuming you applied for the card, got the points, and now want the annual fee refunded..? Ridiculous if that's the case

What T&C have they actually breached?

Fine if your at the start of a new year and your cancelling, but not in this case. Age of entitlement eh!

If this is what has occurred for you I suggest you follow the approach that I described in detail in the HSBC thread. I've always advocated putting your concerns in writing. I almost never call a bank. Putting it in writing puts you in a superior position in my view - especially useful if they fail to respond or claim that they have no record of a conversation taking place (which in my experience happened every time I dealt with CitiBank before they received the lifetime DrRalph ban).

Happy to say I followed through on my bonus points being allocated outside the 90 days as per T&C's.

I asked for the annual fee to be reimbursed and received an email today apologising for the delay in BP's and telling me that they are going to refund me $250 (the annual fee was $150) into my nominated bank account.

Lets just say it now. I love you NAB. $150 + $150 + $150 - $250 = $200 for 60K + 75K + 75K points.

Thank you all who have provided advice.

Now for the next decent NAB offer

 

[MicoPico]

I got the 250k velocity home loan offer earlier this year. The loan was applied in Feb. Does anyone know if I can cancel the nab Velocity card and reapply for this 75k deal? If so, would they waive the $150 fee for being a home loan package customer?

The conditions of the current offer state:

"Important information if you apply for a NAB Home Loan between 2 May and 31 July 2016.

[FONT=&amp]This offer is not available in conjunction with any other offer, including the NAB 250,000 Velocity Frequent Flyer Points offer. If you apply for a new NAB Velocity Rewards Premium Card, your 75,000 NAB Velocity Rewards Premium Card bonus points will be awarded within 3 months of meeting the eligibility criteria. If you also apply for a NAB Home Loan between 11 April and 31 July 2016 and meet the eligibility criteria for the NAB 250,000 Velocity Frequent Flyer Points offer, you will only receive 175,000 bonus Velocity Points (meaning that in total you will receive 250,000 bonus Velocity Frequent Flyer Points). If you apply for a NAB Home Loan and are awarded the 250,000 Velocity Points, you will not receive the 75,000 bonus Velocity Points as part of the cards offer."

Given the loan was in Feb, according to these terms, you're fine. Still a risk, but I reckon you would get the poitns after a complaint if they didn't come through automatically.[/FONT]

i did apply for the card and successfully got my annual fee waived being a home loan package customer. Min spend achieved in Oct and I contacted them this month to see where my points are. They came back to say that I got the 250k points in June so I am not eligible this time. I am going to respond by quoting the terms above which mentions home loans *applied* between apr/may and jul, and my loan was applied in dec and approved in Jan. See how it goes.

if anyone saved the full terms and conds back around September, can you PM me please? Rookie error - I forgot to save this time.

 

[rforromeo]

I'm also waiting for NAB to give me my points on this offer, I've already complained using the secure messaging system in online banking, they haven't responded for 3 weeks.



Full terms and conditions for this offer below, from September 2016:

Important information



Offer commences 22 June 2016. Offer available online only, to approved applicants who apply for a new NAB Velocity Rewards Premium Card by 2 October 2016. Offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB card offer, including other Velocity bonus points offers. Terms, conditions, fees, charges and lending criteria apply.


* To be eligible for the Bonus points offer, you must apply for a new NAB Velocity Rewards Premium Card by 2 October 2016, be approved, and spend $1,500 on everyday purchases within 90 days of opening your account. Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purchases. NAB may vary or end this offer. Points will be credited to the qualifying members account within 3 months of meeting the spend criteria.


Important information if you apply for a NAB Home Loan between 2 May and 31 July 2016.


This offer is not available in conjunction with any other offer, including the NAB 250,000 Velocity Frequent Flyer Points offer. If you apply for a new NAB Velocity Rewards Premium Card, your 75,000 NAB Velocity Rewards Premium Card bonus points will be awarded within 3 months of meeting the eligibility criteria. If you also apply for a NAB Home Loan between 11 April and 31 July 2016 and meet the eligibility criteria for the NAB 250,000 Velocity Frequent Flyer Points offer, you will only receive 175,000 bonus Velocity Points (meaning that in total you will receive 250,000 bonus Velocity Frequent Flyer Points). If you apply for a NAB Home Loan and are awarded the 250,000 Velocity Points, you will not receive the 75,000 bonus Velocity Points as part of the cards offer.


1. If you pay your account in full by the due date each month. You won’t receive interest free days while you have a balance transfer.


2. To earn Points, you must be a member of the Velocity Frequent Flyer program and have provided your valid Velocity Membership Number to NAB. Velocity Membership and Points earn and redemption are subject to Velocity Terms and Conditions as amended from time to time, and available at velocityfrequentflyer.com. The Velocity Program is operated by Velocity Frequent Flyer Pty Ltd ACN 601 408 824 as trustee of the Loyalty Trust.


3. A qualifying purchase is required to get the benefits of the complimentary insurance. See terms, conditions and exclusions of the complimentary insurances are specified in the NAB Card Insurance Policy Information booklet and the NAB Purchase Protection Insurance Policy Information Booklet and may be amended. The complimentary insurances is issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 to NAB. Access to the benefit of cover under the NAB card insurances is provided to eligible NAB cardholders by operation of s48 of the Insurance Contracts Act 1984 (Cth).


4. This service is provided by International SOS (Australasia) Pty Ltd. Your concierge is available on 1300 730 213, 24 hours a day, 7 days a week. This is a brief overview of what your concierge offers—see the NAB Platinum Concierge Service terms and conditions (PDF, 234KB) for full details.


American Express is a registered trademark of American Express. The NAB Velocity Rewards Premium American Express Card is issued by National Australia Bank pursuant to a licence from American Express.


Terms and conditions available here. Fees and charges are payable. Approval and credit limit is subject to NAB's credit assessment criteria. Information, including interest rates and annual card fees subject to change. Correct as at 1 August 2016.


Credit cards issued by National Australia Bank Limited. ©2016 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686.

 

[woodyren]

If they don't give you the points within 90 days hit them up for compensation. I as I said asked for a refund of the annual fee. Have no idea why they got back to me and said they will refund me $250 but I'll take it.

In another bonus pts issue Westpac just ponied up 20,000 Qantas pts to my SIL because they were a few days over the bonus pts deadline. They offered 10K but I told him to ask for more.

 

[Gianni S]

For those that are interested, i called to close this card after having it 11 months after just recently signing up to the ANZ Adventure card.
They first offered to waive the annual fee for another year, after i declined and thanked them for the offer they then offered to waive the annual fee ongoing for however long i kept the card.

I would have accepted because it was a fantastic offer considering it is one of the highest point earning cards per $1, but i just couldn't justify having so many cards. If the ANZ points has already posted and i had redeemed my free flight, then it may have bee a different story

 

[Rich]

For those that are interested, i called to close this card after having it 11 months after just recently signing up to the ANZ Adventure card.
They first offered to waive the annual fee for another year, after i declined and thanked them for the offer they then offered to waive the annual fee ongoing for however long i kept the card......

It was a bit harder for me. I called about a week before the fee was due and they didn't offer anything. Maybe I was a bit too honest when he asked why I got the card. I was quite open that it was for the 60k bonus points (sadly I didn't get the 75k) and that got me a lot of domestic US travel recently for next to nothing. (Old tip I think but Delta rewards via Virgin are much better than American with QF points).
Then I waited until the due date and asked directly for a fee waiver given I spent over $40k for the year. (I would have asked for bonus points but I stood to lose a few thousand points without renewing so a fee waive would be enough.) It took a good 5 minutes for the waiver offer to come. I'll be a bit smarter about getting all my points first next year, but I'll just be happy to keep the card with a fee waive as at 1.5 points per $ it is the best earner I have.

 

[azza_1992]

NAB are dicking me around a bit with this one.

Signed up last year, and met the spend requirement by mid-December. Still haven't seen the bonus 75k Velocity points, despite prodding NAB over the phone. All they've offered is a callback after their Missing Points Investigation team look into it.

 

[davidj]

Is this card now closed to new customers? I can't seem to locate any velocity earning cards on the NAB site.

 

[kennyboi]

Is this card now closed to new customers? I can't seem to locate any velocity earning cards on the NAB site.

It does appear it is no longer available to new customers
NAB Velocity Rewards Premium Card

 

[DerekG]

This link appears to still work:

Credit cards