NAB Rewards Platinum Card with Velocity
Churn value: $514 in flights.
You pay $195 in first-year fees.Spend $4,000 in 90 days.You get 41,680 Velocity points, worth about $709 in flights.
The recorded minimum requirements are that you can take a credit limit of at least $3,000. Meeting them does not guarantee approval.
It is only worth it if you pay in full each month and close the card before the next $195 fee.
Available
This page is my best effort to summarise the card's terms from the information I found. Read the bank's terms for full details, or contact the bank if you have questions.
I'd like to use my bonus for:
Can I get this?
This offer is advertised to the public. Bonus conditions and the bank’s approval requirements still apply.
Can I get this bonus if I have held a card before?
You are not eligible for Bonus Points if you currently hold, or have held, a personal NAB Rewards Credit Card in the last 24 months. The wait is 24 months, from the last date you held one of these cards. If you hold one now, you cannot get this bonus.
See the waiting rules for every Australian bank →What must I spend?
$4,000 within 90 days — about $1,333 per month.
Can I get the card?
The minimum credit limit is $3,000. This is the least the bank may let you borrow.
I do not have a minimum income for this card.
Meeting the bonus rules does not mean the bank will approve your application. The bank must assess and approve the card separately.
How long is this available?
I do not have an end date for this offer.
What do I do, step by step?
- Apply. Check the income and waiting rules in “Can I get this?” first. If you do not pass those, the bonus does not come.
- Spend $4,000 in 90 days on bills and shopping you had to pay anyway. Do not buy extra things just to hit the number.
- Pay in full each month. Interest can eat the whole bonus. The churn value at the top assumes you never pay interest.
- Use the points for flights. Points you never use are worth zero.
- Close the card before the next fee — keeping it costs $195 a year. The next section helps you decide if keeping it is worth it.
When this is not worth it
- You pay interest, or you cannot pay in full each month.
- You buy things you do not need to hit the spend target.
- You have no trip or use in mind for the points.
- You keep the card into year two out of habit and pay the fee again.
Should I keep it after the first year?
Keeping the card costs $195 each year ($195 annual fee) — the first year was $195.
The year-two bonus is 40,000 Velocity points.
Ongoing earn: 0.42x Velocity points per $1.
Keeping pays off only if you meet the second-year conditions and use the points and benefits enough to cover $195/yr.
What else makes the card useful?
Reward use
Ways to turn points into value.
- Points Transfer Benefits Compare across cards →NAB Rewards Points automatically redeemed and transferred to Velocity each month at 2 NAB Rewards Points = 1 Velocity Point; requires providing Velocity membership number to enrol in Auto Redemption
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NAB Rewards Points automatically redeemed and transferred to Velocity each month at 2 NAB Rewards Points = 1 Velocity Point; requires providing Velocity membership number to enrol in Auto Redemption
Purchase protection
Cover on things you buy with the card. Limits, excesses, and activation conditions apply.
- Mobile Phone Insurance Compare across cards →Complimentary mobile phone insurance covering accidental damage and theft to an eligible mobile phone for NAB Rewards Platinum cardholders; phone must be on a monthly billing plan paid using the eligible NAB card; underwritten by AIG Australia
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Complimentary mobile phone insurance covering accidental damage and theft to an eligible mobile phone for NAB Rewards Platinum cardholders; phone must be on a monthly billing plan paid using the eligible NAB card; underwritten by AIG Australia
Travel
Travel cover and perks. Most need qualifying bookings or payment with the card.
- Travel Insurance Compare across cards →Complimentary international travel insurance included with NAB Rewards Platinum and Signature Cards.
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Complimentary international travel insurance included with NAB Rewards Platinum and Signature Cards.
- Lounge Access Compare across cards →LoungeKey
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Complimentary Delayed Flight Lounge Pass: when a registered flight is delayed more than 60 minutes, a lounge access voucher is emailed for the cardholder plus up to 4 travel companions at select LoungeKey airport lounges (or a dollar credit off dining where no lounge is available); flights must be registered in advance via the NAB service website
Everyday savings
Discounts and cashback on spending. Activation and caps vary.
- Entertainment Benefits Compare across cards →Special offers with Visa Premium Access and Visa Entertainment including pre-sale tickets and member promotions for NAB Rewards Signature Cardholders.
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Special offers with Visa Premium Access and Visa Entertainment including pre-sale tickets and member promotions for NAB Rewards Signature Cardholders.
Account management
Tools for running the account — repayment helpers, not reward value.
- No International Transaction Fee Compare across cards →Fee-free international transactions on NAB Rewards Signature Card.
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Fee-free international transactions on NAB Rewards Signature Card.
- Rewards Program Elite Status Compare across cards →Automatic monthly transfer of NAB Rewards Points to Velocity Points at a rate of 2 NAB Rewards Points = 1 Velocity Point for both NAB Rewards Platinum and Signature Cards.
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Automatic monthly transfer of NAB Rewards Points to Velocity Points at a rate of 2 NAB Rewards Points = 1 Velocity Point for both NAB Rewards Platinum and Signature Cards.
- Concierge Service Compare across cards →NAB Concierge Service available to Platinum cardholders on 1300 730 213, 24 hours a day 7 days a week; provided by Visa Worldwide or International SOS
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NAB Concierge Service available to Platinum cardholders on 1300 730 213, 24 hours a day 7 days a week; provided by Visa Worldwide or International SOS
- No Additional Cardholder Fee Compare across cards →Add an additional cardholder at no extra cost; additional cardholder must be 16 years or older
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Add an additional cardholder at no extra cost; additional cardholder must be 16 years or older
- Interest Free Periods Compare across cards →Up to 44 interest free days on purchases when the account is paid in full (or the interest free days payment) by the monthly due date
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Up to 44 interest free days on purchases when the account is paid in full (or the interest free days payment) by the monthly due date
- Balance Transfer Offers Compare across cards →0% p.a. for 12 months on standard balance transfers, 3% balance transfer fee; unpaid balance transfers revert to the variable cash advance rate after 12 months
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0% p.a. for 12 months on standard balance transfers, 3% balance transfer fee; unpaid balance transfers revert to the variable cash advance rate after 12 months
41,680 Velocity points at 1.7¢ a point − $195 in first-year fees. This is flight value, not cash. It assumes you earn the bonus and pay in full.
This offer is open now (terms from 11 Oct 2026).
What this calculation assumes
- You make the required purchases and the bonus is paid.
- You pay the balance in full — any interest changes the outcome.
- The required spend is ordinary planned spending, not extra cost.
- You close the card before the next annual fee, or you decide keeping it is worth that fee.
Did this help you make a decision?
Terms and evidence
Full current terms
Offer terms
First Year Points
40,000 points
Velocity
Second Year Points
40,000 points
With $195 annual fee
Minimum Spend
$4,000
within 90 days (about 3 months)
Ongoing Earn Rate
0.42x points per $1 spent
Fees
First Year Annual Fee
$195
Ongoing Annual Fee
$195
From year 2 onwards
Purchase Interest Rate
22.49% p.a.
The value above assumes you pay in full and never pay this. Any interest changes the outcome.
Benefit history (6 changes)
- Lounge AccessUpdated May 2026
Now LoungeKey.
- Interest Free PeriodsUpdated May 2026
- Concierge ServiceUpdated May 2026
- No Additional Cardholder FeeUpdated May 2026
- Balance Transfer OffersUpdated May 2026
- Mobile Phone InsuranceUpdated May 2026
Offer terms history (14 versions — old terms, for checking)
These are published versions of this offer's terms. Each version preserves the conditions available at that time.
Published 11 Oct 2026
Availability changed from ended to available; conditions unchanged.
Changes from terms version 12
Changes from terms version 11
Changes from terms version 10
No recorded term changes from the previous version.
No recorded term changes from the previous version.
Changes from terms version 7
No recorded term changes from the previous version.
Changes from terms version 5
Changes from terms version 4
Changes from terms version 3
Changes from terms version 2
Changes from terms version 1
First recorded terms
Captures behind the selected terms record — evidence for these terms, not a complete history of the named offer.
Archived notes
Earlier notes about this offer, kept as an archive — not current terms. Note dates are separate from terms publication dates.
- Expiration changed from 31/07/24 to 31/10/24, Second Year Bonus from 10K to 20K2 years ago
- Expiration changed from no expiration to 31/07/24, Bonus from 40K to 60K, Annual Fee from $45 to $953 years ago
- Expiration changed from 31/01/24 to no expiration, Bonus from 60K to 40K, Annual Fee changed from $95 to $453 years ago
Discussion
About the current terms (published 11 Oct 2026).
Community and personal tools
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