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NAB Velocity Rewards Premium Card 75,000 Velocity Points after $1500 Spend ($150 Annual Fee)

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NAB Velocity Rewards Premium Card 75,000 Velocity Points after $1500 Spend ($150 Annual Fee)
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applejack on 24/06/2016 - 01:57 nab.com.au (5432 clicks)
Last edited 23/08/2016 - 19:25 by 1 other user

I got an email from velocity (not sure if targeted) and looks like a slightly improved deal as per previous: https://www.ozbargain.com.au/node/214906

Discover the additional benefits of a NAB Velocity Rewards Premium Card

Earn Velocity Points2 on everyday purchases
Two cards on one account – the NAB Velocity Rewards Premium American Express ® maximises your points earning and the NAB Velocity Rewards Premium Visa Card gives you added worldwide acceptance
Seven complimentary insurances, including overseas travel insurance when you meet eligibility criteria and spend $500 or more on your pre-booked travel using your card3
Platinum Concierge Service4 – your own 24 hour, 7 day personal assistant
Access to our 24/7 NAB Service Centre
NAB Pay - Tap & Pay with your compatible android phone using your NAB Velocity Rewards Premium Visa Card.

American Express: 1.5 Points per $1 spent on eligible purchases
Visa 0.5 Points per $1 spent on eligible purchases

I'm not sure if I'm eligible as I cancelled a NAB Qantas card about 12 months ago but this looks to be a solid deal.

Financial Credit Card Reward Points

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)

closed Comments

  • Coops1 on 24/06/2016 - 06:18

    Glad I waited this out….75k Velcity for $150 is one of the better deals at present. I closed NAB Qantas a few months ago, and was advised verbally by NAB that I was eligible for 60k offer, they even suggested applying straight away for it…eg reason for closure was don't need QF pts anymore.

    • carlJack on 24/06/2016 - 10:15
      +3

      yeah… Velocity Points are better than QFF points

    • megamilinda on 24/06/2016 - 12:25

      I had a Velocity card from NAB cancelled it and reapplied for the same card to get the bonus points on the previous promotion, no issues with the bonus points.

      • ozbargainer2 on 24/06/2016 - 13:12

        How long ago did you do this? I've got a NAB Velocity card and would love to get the points again!

        • megamilinda on 24/06/2016 - 14:37

          It was Nov/Dec last year

  • Schumi5 on 24/06/2016 - 06:24

    Fantastic deal, i signed up when it was 60k, then only in the last month or so they changed it back to 20k, so the new 75k points is probably one of the better rewards going round at the moment.

  • datzed on 24/06/2016 - 06:25

    Can you cash out velocity points once they are earned?

    • rmh on 24/06/2016 - 07:28
      +1

      The transfer of points happens automatically each month. The 75k will come through about 3 months after sign up in my experience.

      • datzed on 24/06/2016 - 10:11

        My question was more related to can you cash out 75k worth of points into actual cash (instead of gift cards/flights etc). I was just interested in working out of points could effectively cover the annual fee.

        • carlJack on 24/06/2016 - 10:17
          +1

          yes you can. Its worth around 380$ worth of giftcards.

        • datzed on 24/06/2016 - 10:22

          But what about straight cash? Can you convert the points into actual money like most other rewards points in other credit cards?

          A $100 cash reward isn't quite the same as a $100 Myer voucher.

        • Duram on 24/06/2016 - 10:25
          +1

          @datzed: No.

        • datzed on 24/06/2016 - 10:26

          @Duram: Ah ok. Thanks!

        • Rodo on 24/06/2016 - 11:42
          +1

          @carlJack: A $100 Westfield gift card is 18000 points so you could get 4 * $100 Westfield gift cards with 3000 points left. With an annual fee of $150 the effective return would be $250.

    • WatermelonJuice on 24/06/2016 - 16:45

      Yes. Search on Ozbargain.

  • Coops1 on 24/06/2016 - 06:50

    Concerned this might be targeted……can't find it thru NAB or VFF generic links……?

  • leeroys_dad on 24/06/2016 - 07:06
    +2

    it's not targeted - generic link here
    http://www.nab.com.au/sites/personal/credit-cards/cards/velo…

    • warney on 24/06/2016 - 08:16
      +1

      Could be targeted given that it changes to 20K bonus points for me as well once I go thru and click apply.

      • octagonalman on 24/06/2016 - 08:21

        I think the page that has 20k bonus points just hasn't been updated yet. See the dates at the bottom of the screen. At that stage you haven't submitted any more info for them to determine whether you've been correctly targeted or not, coming from the 75k bonus points page.

  • deva22 on 24/06/2016 - 07:16

    dang it, I just signed up for the 60K points bonus :(

  • Schumi5 on 24/06/2016 - 07:52
    +1

    Strange, soon as you click apply, the details change to 20,000 bonus points

  • pitufon on 24/06/2016 - 07:57
    -3

    This would be nice on top on my current 160k points!

    • Bargain Hunter 007 on 25/06/2016 - 10:22
      +2

      No one cares how many points you have.

      "Bargain Hunter 007 - 460,000 points"

      • pitufon on 25/06/2016 - 20:42
        -1

        Then why comment?

  • brazen00 on 24/06/2016 - 08:04
    +1

    I'm not sure if I'm eligible as I cancelled a NAB Qantas card about 12 months ago but this looks to be a solid deal.

    NAB don't usually worry about 12 month waiting periods. Pretty much as long as it's a new card and not a transfer, all deals are good.

    • takis on 24/06/2016 - 10:45

      From experience, the 12 month period doesn't apply with NAB like many AMEX cards. In fact I know someone who closed their existing NAB Velocity Premimum Card and re-signed up for the 60k bonus the same week.

      The only thing worth noting in the terms which I haven't seen before:

      '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.'

      Not sure how strict they would be. You do have til 31st August till apply.

  • wildstone on 24/06/2016 - 08:42

    How much is 75K in the world of gift cards?

    • twocsies on 24/06/2016 - 08:54
      +2

      Gift cards are the least efficient use of Velocity Points. Most efficient is business class flights (13 times more efficient).

      According to http://www.ausbt.com.au/what-is-a-virgin-australia-velocity-…, they are 0.5 cents each for a gift card so my calculator says $375.

      • wildstone on 24/06/2016 - 09:03
        +4

        Thanks for that article.

        That's true it's more value when redeeming to fly than to shop, but as noted in one of the comments in that link, when we weigh up of redeeming something we should look at the amount of what we would otherwise willing to spend in cash, not by merely looking at the asking price.

      • ocoolio on 24/06/2016 - 09:24

        Can anyone please who has access to the points site how many points would be a Europe return flight?

        • hellwolf on 24/06/2016 - 09:34
          +1

          Return economy Sydney to London, Manchester or Paris on Ethihad using Virgin Velocity points was 150,000 when I looked recently.

        • nickyd84 on 24/06/2016 - 10:19

          @hellwolf:

          Was that before or after the Etihad change? they now have extra charges and are in Table 2, so the points aren't as good value. Looking recently I struggled to find anything under 180k return to Europe..

      • tunzafun001 on 24/06/2016 - 14:39
        +1

        That's if you normally fly Business class. But for us cattle class plebs, $375 I save spending on groceries could net me almost 2 x return tickets to Bali. Will the points get me to Bali twice? or even once? (from Melb, Adl)?

    • WatermelonJuice on 24/06/2016 - 16:46

      You can get better than gift cards. Search on Ozbargain.

      • romaau on 24/06/2016 - 20:51
        +1

        Can you elaborate please

  • madseason on 24/06/2016 - 08:48
    +1

    I may be blind but does it say what the minimum income is for this card? I've got a fistful of credit cards and was hoping my gf could apply for it.

    • Paul Atreides on 24/06/2016 - 10:12

      NAB don't state for this card, but theres a tread on whingepool regarding this (which i cant seem to find atm)

  • strikerzebra on 24/06/2016 - 09:33

    Damn I got it at 60k, this is a great deal

  • Bellpop on 24/06/2016 - 09:54

    any way to swap these points for QFF? Anyone wanna trade?

    • baz123 on 24/06/2016 - 10:26

      You're nuts to swap them for QFF, unless you need the QFF for a specific redemption. Velocity points are harder to acquire than QFF. But if you wanna swap I'll happily do so

      • bozbargain on 24/06/2016 - 10:41
        +1

        Really depends on your travel needs and current balance. It's very normal to do 1:1 swaps between the two currencies.

        • castaway on 24/06/2016 - 11:09

          Its true. I prefere QFF too, better service for longhaul flight. But i dont mind both. I would like American express than Visa.

      • Bellpop on 24/06/2016 - 11:16

        Righto Baz, let's do it. I'll contact you when i get my velocity points. Cheers mate

        • baz123 on 24/06/2016 - 12:50

          Good stuff

    • jeppetto367 on 24/06/2016 - 14:12

      I'd swap. I always fly Virgin but have 95,000 Qantas points to get rid of.

  • ingster on 24/06/2016 - 10:30

    spewing, i just signed up a couple of weeks ago for the 20 0000 bonus points :(

    • hashtagbargain on 24/06/2016 - 14:55
      +4

      20 0000 points is not bad!

    • Utopian on 04/07/2016 - 12:31

      So this is a great deal!

  • lilkid28 on 24/06/2016 - 10:55

    Hmm on my email it says for new NAB customers… but in the website it says for new NAB Velocity premium credit card customers.. I assume the latter is the one that matters?

    • OldKing on 24/06/2016 - 15:06

      Are you able to share a screenshot of the email (deleting any personal details of course)?

      • lilkid28 on 24/06/2016 - 15:31
        +1

        I'll just copy paste here:

        "This offer is available only to new NAB customers and is not available in conjunction with any other card offer, including the NAB 250,000 Velocity Frequent Flyer Points offer. If you have applied for a NAB Home Loan between 21 September 2015 and 31 July 2016, please see below for important information."

  • justcallmeboss on 24/06/2016 - 11:09
    +1

    Question: how does signing up for multiple credit cards affect ones credit score?

    Great deal btw

    • snook on 24/06/2016 - 12:17

      If you want to get a housing loan, each credit card will be added to your debts and not just the amount - they take into account you not being able to pay it back etc and it reduces your loan amount significantly more than just the face value of the card. It's a PITA.

      And no, since the tightning of loan restrictions they are not the slightest bit interested that you pay off your cards every month.

      Recent information from St George Bank Newtown.

      • justcallmeboss on 24/06/2016 - 12:58

        Thanks snook!

      • cowiie on 24/06/2016 - 19:25

        What would happen if you cancelled all your credit cards before apply for a home loan??

        • snook on 24/06/2016 - 21:39
          +4

          You'd have no credit cards?

        • ely on 25/06/2016 - 09:21

          I share an office with several mortgage brokers (although I'm not one myself) and have discussed this with them. Their advice is to not cancel your credit cards before applying, as on your credit history it just shows the credit access going away but doesn't explain why (e.g. they can't tell that you cancelled it, rather than the bank). The bank will ask you to cancel them if they want you to and it's safe to do it then, as the reason for the cancellation is then unambiguous.

          So, you will be able to cancel your cards to reduce their impact on your maximum loan size, but don't do it until they ask you to do it.

        • cowiie on 25/06/2016 - 17:34

          @elyobo: yes that's very smart! I will keep that in mind.

  • castaway on 24/06/2016 - 11:10

    Anyone know how is the fee for cancellation after 3 months ?

    • ely on 25/06/2016 - 09:24
      +1

      There is no cancellation fee, however you will have already had to pay the $150 annual fee by then. It may be worth holding it for a year (but cancelling it before the next fee is charged) in order to get more value out of the card (1.5 points/$ on the Amex is good for some things, e.g. utilities, where normal amex cards are generally only 0.5 points/$), but that will limit you a little in applying for future cards from NAB (because the promotions generally only apply to customers that haven't had a NAB card for at least 12 months).

  • blez77 on 24/06/2016 - 11:43

    Wondering if maybe I could call NAB and get the annual fee waived?

    If so, is this card comparable/better than the Westpac 55 day Platinum? If no one knows off the top of their head, I'll gladly do my own research :)

    • Block on 24/06/2016 - 11:46

      They will waive the annual fee if you have a loan with them, otherwise it might be worth a call.

  • Duram on 24/06/2016 - 11:52
    +1

    Can I get this if I already have a NAB Qantas cc?

    • lochlomond89 on 25/06/2016 - 21:33

      Yes you can. I've had both cards and points came through for both.

  • warney on 24/06/2016 - 11:53
    +3

    Got transcript from a "Credit Card Professional" on the NAB Live Chat and basically saying it is targeted. If you received an email you can access it however for the remainder it is 20K points.

    • castaway on 24/06/2016 - 12:13
      +2

      Thats true. I just chatted online with NAB and they said its only 75k point if you receive email from them, its targetted customers. If you dont receive email, you only can get 20k points. :(

      • Coops1 on 25/06/2016 - 22:55

        the OP said the original email came from VFF!?

  • nightelves on 24/06/2016 - 12:24
    +1

    Then use this link http://www.nab.com.au/sites/personal/credit-cards/cards/velo…

    I used the same one for the 70k Qantas points and Nab honoured it so it's definitely not targeted.

    Best thing to do is safe the URL and let them know that it is a generic link.

    • odysseus on 24/06/2016 - 13:52

      You don't seem to be able to get to that page from the public site though. The standard page for the card on the public site is different and only mentions 20k.

      Your page has "exclusive" in the URL, so it may well be for targeted clients only and they then link up with however they targeted them when you apply.

      • nightelves on 24/06/2016 - 14:00

        You may very well be right but when I applied for the last promo of 70k QFF points it was not listed in their website at all. I applied for it once approved called upto Nab and got them to verify that I was getting 70k points based on the URL that I supplied them.

        Got credited the points within that month without an issue.

    • hockysa on 24/06/2016 - 14:05

      I went through that page and will definitely be saving the page to make sure I get all my points

  • drjw7 on 24/06/2016 - 13:20

    Does anyone with access know how much domestic flights eg Syd-Melb cost with points?

    • robhung on 24/06/2016 - 13:31
      +1

      11k, or 7.8k + $20

      You can check it yourself ticking "Use Points + Pay" on Virgin's website.

      • drjw7 on 24/06/2016 - 13:54

        Ah yep thanks a lot, cheers!

  • noskich on 24/06/2016 - 14:02

    So how much are 70K points worth when used for Coles or Woolies giftcards (I know it is better value to use for flights, I just fly the cheapest Air Asia and Tiger and thus prefer the giftcards)?

  • OldKing on 24/06/2016 - 14:56
    +1

    Comments from Online Agent:
    You need to have received the email directly to your inbox from NAB to be eligible for this offer.
    This offer is only for selected customers.
    If you did receive the email, there will be instructions on how to apply.
    This offer is not available directly from our website and you would need to proceed from the steps of your email to apply.

    • nightelves on 24/06/2016 - 15:28
      +2

      so was this offer.
      https://www.ozbargain.com.au/node/242180

      How would they know if the offer was sent to your email or not.

      • OldKing on 24/06/2016 - 15:36

        Top stuff. I'll give it a go. Just sharing info.

        EDIT: email address is compulsory on the application. If they are aware of the addresses on their mail-out, couldn't this affect them honouring the full 75,000?

        • nightelves on 24/06/2016 - 15:55
          +1

          Now i'm a bit confuse because in the Important Information section it does not specify anything about the offer being targeted.

        • castaway on 24/06/2016 - 16:31

          I give it a go too. May I ask if they approve and doesnt give me 75k as what I thought, can I decline the card ?

    • rezok on 24/06/2016 - 22:10

      I don't think that's the case (targeting).

      There is a discussion on FF forums and link to this url which looks like it's for all and sundry:

      http://www.nab.com.au/sites/personal/credit-cards/cards/velo…

      The T&Cs look like they're for all too. I'd do it.

      • nightelves on 24/06/2016 - 22:31
        +1

        It is exactly what I thought as well given the last Qantas deal was not published on their website and I still received my points

  • busterau on 24/06/2016 - 16:02

    Does this card have a particular income requirement?

  • thydzik on 24/06/2016 - 17:27

    thanks

  • kent08 on 24/06/2016 - 17:27

    I've always wanted to know what do ozbargainers think is better this or the anz rewards cards?

  • perko87 on 24/06/2016 - 17:35

    Is it possible to sign up, buy $1500 worth of coles gift vouchers on the Amex credit card, then not use the card again??
    My logic says you avoid the Amex fees, meet the $1500 threshold and will get the Velocity FF points.

    • bigspike on 24/06/2016 - 18:01

      Sure, but I did it with a % off voucher for Woolies. I got this card at end of April, did the spend and it is now in a draw waiting for the points to sweep. If this deal is solid, my wife will sign up for this one.
      We did get the BP spend 40 get 10 back deal 12 times, so cards can work in your favour if you are careful with how you use it. We did the Dan Murphies deal quite a few times as well. YMMV.

      • knowwhat on 25/06/2016 - 21:22

        Did you buy any BP gift cards? Just curious how did you use it 12 times, when I have struggled to use twice :).
        Can BP fuel cards be bought and what is the process?
        Cheers

        • bigspike on 25/06/2016 - 22:55

          Yep. Gift cards and fuel combos.

  • kokoboko on 25/06/2016 - 00:17

    So its a targeted deal, you wont get the 70k points unless you received the promo via email. Is that correct?

    • ely on 25/06/2016 - 09:41

      It appears that it is targeted, but the URL is public so you can probably argue that they are required to give you the bonus points. Depends how much you feel like arguing with a bank. You can contact them to confirm beforehand if you like.

  • ezza on 25/06/2016 - 10:47

    I have it a crack. thx Op!

  • BlitzR on 25/06/2016 - 11:34

    Yes more points!

  • arcticmonkey on 26/06/2016 - 15:25

    Did anyone get a confirmation email after applying?

  • JakDac on 26/06/2016 - 18:32
    -3

    How many points to the States return ?

  • coolc on 28/06/2016 - 17:59
    -1

    Anyone got a confirmation email after apply ?

  • ezza on 28/06/2016 - 18:43
    +1

    No confirmation after applying but it came up with a reference number and a contact number of '1300 361 138from 8am-8pm Mon-Fri (AEST/AEDT).'
    I applied on Sunday morning, got the 'we are reviewing' response on the site, called on Monday morning and they said it was approved for a defined limit and that the card will be out in the mail.

    • coolc on 28/06/2016 - 19:45

      Have you ask about 75K offer ?
      I was asked to provide ID to verify. But no email. Will rimg tomorrow.

      • nightelves on 28/06/2016 - 21:22

        A few people in AFF have confirmed that they got the 75k points confirmed even after cancelling their credit card weeks before signing upto this deal. What's even better is you get a bonus 2000 pt for making 6 transaction on it and 6 x $1 transactions are allowed as well

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