NAB Rewards Platinum Card with Velocity
Earn uncapped NAB Rewards Points and enjoy complimentary travel & purchase insurance with a NAB Rewards Platinum Card with Velocity.
Earn uncapped points including 1 NAB Rewards Point earned per $1 on eligible everyday spend and 1.5 NAB Rewards Points per $1 at eligible Grocery Stores
- Apple Pay and Google Pay support
Why we like the NAB Rewards Platinum Card with Velocity
The NAB Rewards Platinum Card with Velocity lets you earn uncapped NAB Rewards Points on your everyday purchases, bonus points on spend at eligible Grocery stores and double points with Webjet. These points can be redeemed for rewards such as gift cards, or transferred to Velocity, Singapore Airlines KrisFlyer, Cathay, Air New Zealand Airports or Flybuys.
You can also earn a handy sign-up bonus of Velocity points as a new cardholder.
This card also provides six complimentary insurances including international travel insurance, interstate flight inconvenience insurance and purchase insurances.
Key Information & How to Apply
Key facts about this cards
- Signup bonus
- Up to 80,000 bonus Velocity Points, receive 60,000 Velocity Points (auto-converted from 120,000 NAB Rewards Points) when you spend a minimum of $4,000 on eligible purchases within the first 90 days of account opening and an additional 20,000 Velocity Points (auto-converted from 40,000 NAB Rewards Points) when you keep your card open for over 12 months
- Annual fee
- $195 p.a. ongoing
- Interest rate
- 20.99% p.a
- Interest-free days
- Up to 44 days
- Minimum monthly repayment
- 2% of outstanding balance or $25, whichever is higher
- Minimum credit limit
- $6,000
- International transaction fee
- 3.5%
To apply for this card, you will need
- To be an Australian citizen, resident or long-term visa holder aged 18 or over
- Have a good credit history and no payment defaults
- Your Australian driver’s licence number and proof of income
- 10-15 minutes to complete your application
Contents
Sign-up bonus
Apply for a NAB Rewards Platinum Card with Velocity to earn up to 80,000 Virgin Australia Velocity points, when you opt-in to Velocity automatic redemption.¹
The bonus points are allocated over two years. You’ll receive 60,000 Velocity Points (auto-converted from 120,000 NAB Rewards Points) after you spend $4,000 within 90 days of opening your card. You’ll get an additional 20,000 Velocity Points (auto-converted from 40,000 NAB Rewards Points) when you keep your card open for over 12 months.
To give you an idea of the value of those points, you could book a return Virgin Australia Business Class flight from Brisbane to Sydney for 31,000 Velocity points plus around $79 in taxes & charges. So, with this offer, you could book a round-trip Virgin Australia Business Class flight for two people.
Alternatively, if you choose not to opt-in to Velocity automatic redemption, you could earn up to 160,000 bonus NAB Rewards Points! That’s equal to 80,000 Velocity Points, 53,333 Singapore Airlines KrisFlyer miles, 53,333 Cathay Asia Miles, $500 worth of Flybuys dollars or gift cards.
To learn more about converting NAB Rewards Points into other loyalty programs, see our Credit Card Points Transfer Assistant.
Bonus points are not available to customers who currently hold, or have held, any personal NAB Rewards Credit Card in the last 24 months or in conjunction with any other offer.
Complimentary travel & other insurances
The NAB Rewards Platinum Card with Velocity comes with complimentary international travel insurance. This is underwritten by Allianz and is available when you charge at least $500 worth of prepaid travel costs to your card. Other eligibility criteria apply, including an age limit of 80, which you can review on the NAB Card Insurance eligibility online portal.⁵
Other types of insurance offered with this card include:
- Interstate flight inconvenience insurance
- Rental vehicle excess insurance (within Australia)
- Transit accident insurance
- Purchase protection insurance
- Extended warranty insurance
Before using this insurance, we’d encourage you to read the PDS here.
Earning points
With the NAB Rewards Platinum Card with Velocity, you’ll earn 1 NAB Rewards Points per $1 spent on everyday transactions (excluding government payments and gambling transactions). That’s effectively 0.5 Velocity points or 0.33 KrisFlyer miles per dollar spent.²
There is no monthly or annual point-earning cap. You can earn an unlimited number of points at the full rate.
Plus, you can earn bonus points on certain types of transactions! You’ll earn double points (that’s 2 NAB Rewards Points per dollar spent) with Webjet. You can also earn 1.5x points at eligible grocery stores.³
Beware that NAB Rewards Points expire after 3 years. You can redeem them or transfer them out to a frequent flyer program such as Virgin Australia Velocity before the points expire, so that you don’t lose them.
Earning points for ATO & government payments
This card does not give points for payments made directly to the Australian Tax Office (ATO) or other government bodies.
However, you can use a payment service such as pay.com.au to pay tax and other bills with this card and still earn NAB Rewards Points at the full rate!
If you’d like a credit card that earns points on ATO payments, you could also consider a NAB business credit card.
Using NAB Rewards Points
NAB Rewards Points can be converted to points or miles in six other loyalty programs, with a minimum transfer of 3,000 NAB Rewards Points at a time. Here’s the full list of transfer partners:
| Transfer partners | 1 NAB Rewards Point equals… |
|---|---|
| Accor ALL | 0.17 ALL points |
| Air New Zealand Airpoints | 0.005 Airpoints Dollars |
| Cathay (Asia Miles) | 0.33 miles |
| Flybuys | 1 point |
| Singapore Airlines KrisFlyer | 0.33 miles |
| Virgin Australia Velocity | 0.5 points |
If you opt-in to Velocity automatic redemption, your NAB Rewards points will be transferred at a 2:1 rate into your Velocity Frequent Flyer account each week.
See our Overview of NAB Rewards Transfer Partners for more information.
Alternatively, you could redeem your points through the NAB Rewards program for rewards including:
- Gift cards
- Cashback
- Retail products
- Donations
- DragonPass airport lounge passes
- Payment towards Webjet travel bookings
Note that according to the NAB Rewards terms & conditions, NAB can change the number of points required to redeem a reward “at any time and without prior notice”.
NAB Rewards Points cannot be converted into Qantas Frequent Flyer points. If you’d like to earn Qantas points, the NAB Qantas Rewards Premium card may be more suitable. Alternatively, you can view our guide to the best Qantas credit card offers, or browse other credit cards in Australia.
Summary
Pros
- Earn uncapped NAB Rewards Points, which you can transfer to 5 frequent flyer & loyalty programs
- Earn bonus points with major department and hardware stores, Webjet and when shopping overseas
- Complimentary travel insurance
- Compatible with Apple Pay & Google Pay
Cons
- International transaction fees apply
- NAB Rewards Points expire
- Lower NAB Rewards Points earn rate than the NAB Rewards Signature card
- High interest rate (this could be a problem if you don’t think you’ll be able to repay your balance in full each month)
Earn uncapped points including 1 NAB Rewards Point earned per $1 on eligible everyday spend and 1.5 NAB Rewards Points per $1 at eligible Grocery Stores
- Apple Pay and Google Pay support
Frequently Asked Questions (FAQs)
To apply for a NAB Qantas Rewards Platinum credit card, you would need to be an Australian or New Zealand citizen, an Australian Permanent Resident or a non-resident holding an acceptable Temporary Residency Visa, aged 18 or over, and receive a regular income. Other criteria may apply.
The minimum credit limit is $6,000.
No, but you can redeem NAB Rewards Points for DragonPass airport lounge passes.
Yes, but you will not earn any points if you use a personal NAB credit card to pay the ATO or other government bodies directly. If you would like to earn points when paying tax using your credit card, you could use a bill payment service such as pay.com.au or consider a NAB business credit card.
Yes, NAB Rewards Points expire three years after they are earned if unredeemed.
You can transfer NAB Rewards Points to Flybuys, Velocity Frequent Flyer, KrisFlyer, Cathay, Airpoints and Accor Live Limitless (ALL). A minimum amount of 3,000 NAB Rewards Points applies per transfer.
Yes, this card supports Apple Pay and Google Pay.
Yes, you can add one additional cardholder at no extra cost. The supplementary cardholder must be at least 16 years old.
Terms & Conditions
Offer commenced on 1 October 2025 and ends upon withdrawal (Offer Period). NAB may vary or withdraw this offer at any time. If the offer is varied or withdrawn, reasonable notice will be given where possible. To be eligible for the up to 80,000 Velocity bonus Points offer (automatically redeemed from 160,000 NAB Rewards Bonus Points), you must be a Velocity Frequent Flyer member, apply for a new personal NAB Rewards Platinum Credit Card before the offer is withdrawn, have your application approved, provide your Velocity membership number to NAB to enrol in Auto Redemption, spend $4,000 on everyday purchases using your new card within 90 days of opening account and keep your account opened and in good standing for over 12 months. You’ll receive an email from NAB after your application has been approved with information on how to provide your Velocity membership number to NAB. You must provide your Velocity Frequent Flyer membership number in order to have your NAB Rewards points automatically redeemed for Velocity Points. Redemption of Velocity Points and the Velocity membership is subject to the Velocity membership Terms and Conditions, opens in new window.
Points will be awarded on a tiered basis – You will be eligible to receive 120,000 NAB Rewards Bonus Points when you spend $4,000 on everyday purchases in the first 90 days of opening your account (credited to your NAB Rewards Points balance and automatically redeemed for 60,000 Velocity Points within 90 days of meeting the spend criteria) and 40,000 NAB Rewards Bonus Points after you have had your card for over 12 months (credited to your NAB Rewards points balance within the 13th month and will be automatically redeemed for 20,000 Velocity Points within 60 days thereafter). The name of the cardholder must match the name on the Velocity membership number. Offer limited to one total allocation of 160,000 NAB Rewards Bonus Points per Velocity account.
Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purposes.
Bonus points are not available to customers who currently hold, or have held, any personal NAB Rewards Credit Card in the last 24 months. Offer is not available when closing or transferring from another NAB credit card account or in conjunction with any other NAB credit card offer.
Points are earned and redeemed in accordance with the NAB Rewards Terms and Conditions (PDF, 199KB), opens in new window available at rewards.nab.com.au, opens in new window. These terms describe the purchases not eligible to earn points. You must have an open and active NAB Rewards credit card account to earn points. Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purposes.
Bonus Points at eligible Grocery stores: 1 NAB Rewards Point + 0.5 additional NAB Rewards Points (Bonus Points).
Eligibility for additional points at Grocery stores is determined by a merchant’s Merchant Category Code (MCC). An eligible Grocery store is a merchant whose MCC is designated as 5411 Grocery stores. NAB is not responsible for designating MCCs and has no control over the same. You’re unable to get points if you use an intermediary platform such as PayPal or a delivery platform such as Uber Eats for these transactions.
Bonus points with Webjet: 1 NAB Rewards Point + 1 additional NAB Rewards Point (Bonus Points).
Purchases made online with Webjet via NAB Rewards Store or on Webjet.com.au, opens in new window. Webjet Booking Terms and Conditions apply.
Points Booster is subject to the NAB Rewards Terms and Conditions, opens in new window. Only eligible transactions under those terms and conditions earn points and bonus points. Points are credited to your points balance after the eligible transaction is credited to your NAB Rewards credit card account: for standard points within 10 business days of processing and for Bonus Points within 3 business days of the standard points being processed. Details are correct as at 18 April 2024 and are subject to change by NAB.
After 12 months, any unpaid balance transfers will attract the variable cash advance rate (currently 21.74% p.a. as at today). The one-off balance transfer fee of 3% is calculated on the amount transferred and is charged to your NAB credit card account when your balance transfer is processed. Interest rates are subject to change. While you have an outstanding balance transfer, interest free days on purchases only applies if you pay the interest free days payment in full by the due date each month. Minimum monthly repayments must be made by the due date each month. Standard balance transfer rate and term may be varied or withdrawn at any time. In addition to this acquisition rate, which is available only at card application, other balance transfer offers may be available on your card from time to time. You can find out more information about the ongoing balance transfer rates of your card.
AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631, trading as Allianz Global Assistance (AGA), under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz), has issued an insurance group policy to National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian credit licence 230686 (NAB) which allows eligible persons to claim under it as third-party beneficiaries.
Access to the benefit of cover under the NAB card insurances is available to eligible NAB cardholders and other eligible third-party beneficiaries by operation of s48 of the Insurance Contracts Act 1984 (Cth). Any advice on insurance is general advice only and not based on any consideration of your objectives, financial situation or needs. You must check whether or not it is appropriate, in light of your own circumstances, to act on this advice. This insurance is underwritten by Allianz. NAB is not the product issuer or insurer and neither it nor any of its related bodies corporate guarantee any of the benefits under this cover.
If an eligible person wishes to claim any of these benefits, they will be bound by the eligibility criteria, terms, conditions, exclusions, limits and applicable sub-limits contained in the insurance information booklet. The eligibility criteria, terms, conditions, exclusions, limits and applicable sub-limits of the group policy are set out in the NAB Card Insurance Policy Information Booklet effective 1 July 2025 (PDF, 474KB), which may be amended from time to time. For insurable events that occurred prior to 1 July 2025 please refer to the NAB Card Insurance Policy Information Booklet dated 1 November 2023 (PDF, 489KB).
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