NAB Rewards Platinum Credit Card: 60000 Velocity Pts with $1000 Spend in 60 Days (+ 20000 Pts after 1 Year), $95 1st Year Fee

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NAB Rewards Platinum Credit Card: 60000 Velocity Pts with $1000 Spend in 60 Days (+ 20000 Pts after 1 Year), $95 1st Year Fee
Go to Deal
Xentaq on 05/11/2024 - 10:59 nab.com.au (2146 clicks)
Last edited 05/11/2024 - 11:09 by 1 other user

Option 1 - 80,000 points total requires keeping the card for more than 12 months, which would mean paying a $195 annual fee in month 13 for a total $290 in fees.

Option 2 - 60,000 points total if you don't pay the fee for the second year. So, it's similar to the Virgin Money deal, but if you can get both deals you're getting 120,000 points plus a $129 voucher for only $95 + $74!!!

Note:

  • You only need to spend $1000 in the first 60 days.
  • WebJet bookings provide bonus 1 point for $1 spend.
  • Grocery shopping earns 0.75 points per $1 spend (1.5 NAB points auto-converted to Velocity). If you're converting Flybuys, you'd be earning 1.25 Velocity points for $1 spend.
  • This offer is not available to existing NAB Rewards Signature or NAB Rewards Platinum Credit Card customers or customers who have had a NAB Rewards Signature or NAB Rewards Platinum Credit Card within 18 months prior to applying for a new NAB Rewards Platinum Credit Card.
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Comments

  • jeppetto367 on 05/11/2024 - 11:18
    +6

    Thanks OP. Cancelling a card next week and need a new one to churn, this ones perfect.

    • starburstyellow on 05/11/2024 - 17:48

      Just out of curiosity, how soon do you normally wait before applying after closing? I churn about 3-4 a year but normally wait till next month so it clears off Equifax. Keen to know how lean I can be.

      • Craze on 05/11/2024 - 18:23

        I could be wrong, but thought I read somewhere in the past credit providers have access to shared database and can see more up to date information vs Equifax.

        • dnw213 on 20/11/2024 - 14:38

          I’ve been declined before because my equifax was not up to date even though I had cancelled a CC the previous month (cancelled near end of month)

      • OpulentLace on 05/11/2024 - 20:53
        +1

        You can just provide your closure letter to the bank when you submit income stuff and that’s enough for them.

        • starburstyellow on 05/11/2024 - 22:51

          Yeah I did that last few times. Just prefer to be a clean slate each time. Saves me forwarding.

  • Mugsy on 05/11/2024 - 11:21
    +1

    I'm still waiting for my Bendigo Ready to be approved. Need that to go travelling.

    It'll probably be time for another Velocity Flyer with extra 30k bonus points by the time i am ready to churn again

    • j1nx on 10/11/2024 - 08:17

      I’ve been waiting since the beginning of September for my Bendigo application to be assessed. Starting to become a bit of a joke now. Heck, it was a joke after waiting two weeks let alone two months.

  • Pikaloo on 05/11/2024 - 11:41
    +2

    One of the slower ones to get points for. Met $1,000 spend on the first day. Been over a month and still waiting.

    • gooner15 on 05/11/2024 - 13:47
      +1

      Same here. Maybe this is a tactic to stop people churning/cancelling the card asap as soon as they get their bonus points?

      • Jav79 on 07/11/2024 - 06:41

        My bonus points just arrived today, exactly one month after hitting the spend target.

  • cook99 on 05/11/2024 - 11:47
    +15

    Please nobody take option 1.

    Some other options
    Westpac 90,000 Velocity points $150 annual fee
    ANZ 90,000 Velocity points $225 annual fee
    St George 90,000 Velocity points $99 fee (high spend req)

    I recommend checking out this site for a nice list
    https://www.rwrds.com.au/frequent-flyer/velocity

    • Hinee on 05/11/2024 - 12:05

      You really can't go too wrong with those top few options right? I need to start using a high point yield CC - I'm already a Westpac customer so that one is looking good.

      • cook99 on 05/11/2024 - 12:16
        +1

        Depending on your situation you are better off churning bonus offers and not worrying about spend yield. It's a little more work but you can accumulate a lot more than just spending at a slightly better rate

    • iwatchfatpplsleep on 05/11/2024 - 13:22
      +2

      Rwrds is out of date for some credit cards. Check and compare on individual cards websites.

    • Hieu Le on 06/11/2024 - 05:59
      +6

      PSA Westpac recently changed their bonus points exclusion period to 24 months so keep this in mind when churning

      • mathematicalcoffee on 06/11/2024 - 08:11

        Ah when did this happen?! I recently got the westpac altitude platinum and I /thought/ it said 12months, but now I am not sure I checked before applying (or it changed between when I applied and when I was approved…)

      • alita_b_angel on 06/11/2024 - 09:52

        (profanity) I should've checked, I also just applied now only to be told I won't get the bonus

      • cook99 on 06/11/2024 - 11:13

        Oof that's rough, amazing PSA!

        Just checked their site, confirmed;
        Offer not available if you’ve held an Altitude Platinum or Altitude Black card with Altitude Rewards, Qantas or Velocity in the last 24 months. T&Cs apply.

      • mathematicalcoffee on 06/11/2024 - 18:58

        But does anyone know when it changed? Nab had changed to 18mo and this was on my mind when applying for cards so I thought I explicitly checked before I applied…

        • Hieu Le on 07/11/2024 - 05:32
          +1

          31 Oct

        • UrMumsOnlyFan on 07/11/2024 - 09:18
          +1

          31 Oct as Hieu Le linked.

          First rule of credit card applications - always screenshot the detailed T&Cs at the time of applying.

          Never leave yourself in the position of not being able to refer to the T&Cs should the bonus points not show up or you have to enter some other dispute with the bank.

      • Craze on 06/11/2024 - 19:33

        I'm 2 months shy of 24 months but have a few bills due end Nov/early Dec so I'll have to pick something else. They must be topping it at 24 months exclusion period (and I thought AMEX 18 months is long)

  • xiaozaocha on 05/11/2024 - 11:54

    Would I be eligible if I hold NAB qantas card this year.

    • cook99 on 05/11/2024 - 12:00

      This offer is not available to existing NAB Rewards Signature or NAB Rewards Platinum Credit Card customers or customers who have had a NAB Rewards Signature or NAB Rewards Platinum Credit Card within 18 months prior to applying for a new NAB Rewards Platinum Credit Card. Offer is not available when closing or transferring from another NAB credit card account or in conjunction with any other NAB credit card offer

      • xiaozaocha on 05/11/2024 - 13:03
        +4

        so from my understanding, held an NAB qantas rewards card is fine and able to get the bonus points.

  • LostyJai on 05/11/2024 - 13:18

    I keep hearing people getting the annual fee refunded when they cancel, anyone have luck with this or is it hit and miss?

    I recently cancelled Qantas Money CC and no luck on that one.

  • qwerty40777 on 05/11/2024 - 13:31
    +5

    The NAB signature card appears to be a better points/$ fee option.

    65k Velocity points with $24/month card fee. Assuming you cancel the card after the points land in your account on the 3rd month that would be $72 fees in total.

    • xvalkyria on 05/11/2024 - 14:06
      +4

      I went with the NAB Signature card recently - bit of a niche position though.

      The card offers $0 international ATM withdrawal fees or transaction fees, and I am going overseas for a month, so the majority of the spend will be on the card to meet the criteria to earn the velocity points, and then some.

      The $24 monthly card fee is reversed if you spend more than $5k in a statement period.

      Card will be cancelled right after the holiday - so if you're in a similar situation to me, you're basically getting 130,000 NAB Reward points, which converts to 65,000 velocity points, with no fees.

      • Craze on 05/11/2024 - 17:43
        +1

        I've just closed my HSBC Star Alliance Card and looking for another to churn- considering the Signature card also (or hoping AMEX will release a good offer)

        $0 International ATM withdrawal and transaction fees are a bonus- let us know how's the exchange rate like!

        • MikeSYD on 05/11/2024 - 20:53

          That was a great card!

          • Craze on 05/11/2024 - 22:28
            +1

            @MikeSYD: Assuming you meant Star Alliance Card? Yes Gold status was very handy during my OS trip earlier this year.

            Unfortunately there's no retention offer or fee reduction as I'd have considered continuing for another year.

            • MikeSYD on 05/11/2024 - 22:53

              @Craze: No annual fee for first 50k points and brought my air Canada points to 60k exactly and dumped the rest into United mileage plus. The gold status was very handy in crowded airports. The biggest issue for me was the points cap at 3k/month.

  • reddot12 on 05/11/2024 - 18:28

    I just found out I am getting charged with Cash.adv fees - and looks like its something to do with my other BPAY bills. Will call them this week to have them waived if I can. Read the T&Cs before you sign up

    • OhNoUShiz on 05/11/2024 - 18:41

      I thought BPAY bills through reward credit cards will not earn reward points that's all.

      I got charged $3 adv fee for a lottery ticket because of using wrong card no way they waived it for me no matter what I told them.

      • reddot12 on 05/11/2024 - 18:44

        They already charged extra $5.00 for my rent through Ailo plus the cash adv fees. Daylight robbery.

  • RogerSyd on 06/11/2024 - 07:49

    Are there any additional ongoing benefits of using NAB Platinum rewards card?

  • SnowDragon on 07/11/2024 - 10:28

    Anyone having trouble applying for this card? I've tried 2 browsers and 5 times but an "unknown error" keeps occurring.
    I even tried to submit feedback on their website but ironically an error occurred as well.

    My partner also tried applying on her iPad and couldn't.

    • SnowDragon on 08/11/2024 - 12:52

      Worked fine today thankfully.

  • dumkaze on 07/11/2024 - 14:20

    How can I get an update on the status of my credit card application?

  • greenslade on 08/11/2024 - 10:55
    +2

    This deal has been upgraded - Nab website now shows new customers get 80,000 bonus with a further 20,000 after 12 months
    Existing customers get 90,000 + 30,000 for 1k spend - a great deal.
    Offer commenced 1 November 2023
    So if you want this account, open a free NAB transaction account first to become an existing customer.

    https://www.nab.com.au/personal/credit-cards/nab-rewards-car…

  • caustic birch on 13/11/2024 - 09:54

    Almost forgot about their 18 month exclusion, sneaky buggers

    • CodeXD on 13/11/2024 - 10:23
      +1

      I use https://www.rwrds.com.au/ to keep track of cards and when I can reapply

      • caustic birch on 13/11/2024 - 12:08

        Didn't realise they had tracking functionality - I've been using a spreadsheet

  • archieduh on 13/11/2024 - 13:34

    HOW LONG does it take to transfer to complete it manually transferring points from NAB to Velocity account?
    The email says 10 days but realistically do they transfer in a day? Anyone with any experience?

  • xiaozaocha on 14/11/2024 - 11:20

    How to provide my velocity number? Anyone approved for this card?

    • Azro on 14/11/2024 - 20:03

      Register on NAB rewards portal.

      • xiaozaocha on 14/11/2024 - 21:59

        thx. wish they review my payslip and approve soon

        • Azro on 14/11/2024 - 22:17

          When did you apply? I sent them docs on Tuesday and haven't heard anything yet.

          • Craze on 14/11/2024 - 22:37

            @Azro: Very impressed so far I applied for the Signature card over the weekend. Uploaded documents on weekend + additional documents Monday, received e-mail on approval Tuesday and card arrived in the mail today!

          • xiaozaocha on 14/11/2024 - 23:19

            @Azro: I applied this morning and received the required docs email instantly. No response since then

  • quislor on 20/11/2024 - 14:46

    Process has been painfully slow so far. Applied Thursday morning and provided payslips immediately, application manager assigned Friday evening, received a call this morning (Wednesday) asking me to verify my identity at a branch, which I did within half an hour, and now back to waiting.

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