80K NAB rewards points equates to 40K Velocity but annual fee is $45 in the first year. Never seen it this low before. It is very similar to this earlier deal giving 60K Velocity for $95 AF in the first year. Conditions are the same as always, to spend $1000 in 60 days and 18 month exclusion for prior customers. I don't believe Qantas card customers are blocked from applying as it is a different product.
Summary:
- first year for $45 giving 80K NAB Rewards (equals 40K Velocity)
- second year for $195 giving 20K NAB Rewards (equals 10K velocity)
Unless I'm reading the site wrong, the deal should be for 80k points with a $45 fee, or 100k points with a $240 fee (because you need to hold the card for over 12 months to get the full 100k).