NAB unveils new Qantas, NAB Rewards Visa Signature credit cards

NAB unveils new Qantas, NAB Rewards Visa Signature credit cards

NAB’s line-up of frequent flyer credit cards continues to expand with two new high-end Visa Signature cards joining the ranks this week: marking the bank’s first Black-level plastic.

This includes both the NAB Qantas Rewards Signature Card – delivering Qantas Points – and the NAB Rewards Signature Card, on which the points you earn can be converted into Virgin Australia Velocity points, Cathay Pacific Asia Miles or Air New Zealand Airpoints Dollars.

Here’s what you need to know about each card.

NAB Qantas Rewards Signature Card

Swipe the NAB Qantas Rewards Visa Signature credit card to earn one Qantas Point per dollar spent up to $5,000 per monthly statement period and 0.5 Qantas Points per dollar on spends of $5,001-$20,000 each month, with no points awarded thereafter.

However, you’ll also earn one bonus Qantas Point for every dollar spent on Qantas flights and Qantas Club membership without limits, even if you’ve exceeded that monthly $20,000 threshold.

New cardholders can currently pick-up 75,000 bonus Qantas Points after spending at least $4,000 within 60 days of approval and paying a $395 annual fee, with no defined minimum income requirement – although you’ll need to qualify for a credit limit of at least $15,000.

NAB Rewards Signature Card

The NAB Rewards Signature Card instead earns frequent flyer points based on where you shop rather than how much you spend each month, with 3.75 NAB Rewards points earned per dollar spent on purchases made overseas and with Webjet in Australia.

That’s equal to 1.875 Velocity points, 1.248 Asia Miles or $0.01875 in AirNZ Airpoints Dollar value, and comes with no monthly or yearly capping – although NAB’s usual 3% international transaction fee still applies when shopping abroad.

At major department and hardware stores such as Myer, David Jones, Bunnings and Mitre 10, you’ll instead pocket 2.5 NAB Rewards points per dollar spent – on-par with 1.25 Velocity points, 0.832 Asia Miles and $0.0125 Airpoints Dollars, while everywhere else, you’ll fetch 1.25 NAB Rewards points.

This means you’ll be earning the equivalent of 0.625 Velocity points, 0.416 Asia Miles or $0.00625 Airpoints Dollars for every dollar you spend everywhere else, with the card carrying a $295 annual fee and a $15,000 minimum credit limit.

As a sweetener for new customers, 75,000 bonus NAB Rewards points are also on the table when you spend $4,000 on everyday purchases within 60 days of opening the account: those points equalling 37,500 Velocity points, 25,000 Asia Miles or $375 Airpoints Dollars.

Double points are also offered on everyday purchases for the first six months, up to 60,000 bonus NAB Rewards points in total – earned after a $48,000 card spend – giving you a total haul of 67,500 Velocity points, 45,000 Asia Miles or $675 Airpoints Dollars including the sign-up bonus.

NAB Rewards points can be converted into Velocity Frequent Flyer points on a 2:1 basis, into Cathay Pacific Asia Miles on a 3:1 basis or into Air New Zealand Airpoints Dollars on a 200:$1 basis (2 NAB = $0.01 Airpoints value).

The bank first debuted its line of NAB Rewards credit cards in January 2017, in the lead-up to the Reserve Bank of Australia's cap on credit card 'interchange fees' which are reshaping Australia's credit card landscape.

Chris Chamberlin

Chris Chamberlin (ChrisCh)

[email protected] / @ChamberlinChris

Australian Business Traveller journalist Chris Chamberlin lives by the motto that a journey of a thousand miles begins with a single step, a great latte, a theatre ticket and a glass of wine!
 

4 Comments

  • Rohit

    Rohit

    6 Jul, 2017 09:22 am

    So the torrent of sign-up bonuses in Oz credit card space continues. The QF sign-up bonus is nice in this case, but the other card (NAB Rewards Signature) underwhelms to be honest. Well, at least there is more competition now so that should keep things hot hopefully.
    No member give thanks

  • elchriss0

    elchriss0

    6 Jul, 2017 12:28 pm

    $4k in 60 days is the steepest qualification i've seen on any card, especially for only 37500 velocity points...much easier to get amex and spend $1500 in 90days for 100k velocity points
    No member give thanks

  • Chris Chamberlin

    ChrisCh

    6 Jul, 2017 01:15 pm

    Hi elchriss0, we write about credit cards for the people that intend to use them for purchases on an ongoing basis, rather than those who simply apply to 'churn' them for bonus points (but we obviously still cover sign-on bonus points as it's a feature many people look for when choosing a new card, and is an easy way to earn extra points as part of that process). But certainly, in terms of the sign-up bonus alone, AMEX's offer of 100,000 bonus Velocity points is hard to beat!

    No member give thanks

  • elchriss0

    elchriss0

    7 Jul, 2017 11:03 am

    Of course.  Btw I didn't mean to sound like I was being critical of your article at all, just critical of NAB given the steep qualification spend plus expensive annual fee.  My main focus is krisflyer points anyway, which by extension includes velocity and I actually find the best card combination in terms of ongoing use rather than bonus points chern is the AMEX explorer at 1.5 krisflyer per $ and St George's Amplify Signature at 0.825 per $.
    No member give thanks

  • Chris Chamberlin

    ChrisCh

    7 Jul, 2017 11:21 am

    Not at all - didn't think you were being critical anyway (was just highlighting the angle from which we cover credit cards). KrisFlyer is a great program and has the most credit card partners in Australia behind Qantas and Velocity, so I'd love to see it join NAB Rewards also to give spenders even more choice (and points!).
    No member give thanks

  • Adam T

    AT

    6 Jul, 2017 10:09 pm

    Give me a break!!! All too hard. 
    Member who gave thanks

    brettepi

  • saf.mu

    saf.mu

    13 Jul, 2017 09:44 pm

    Anyone know whether an existing NAB card holder can get sign up bonus for applying a new card?

    No member give thanks

  • westie

    westie

    7 Sep, 2017 05:29 pm

    I gave NAB a call regarding this. They told me yes, existing cardholders are eligible, provided no bonus points have been awarded in the 12 months beforehand. 
    No member give thanks

Guest

18 Dec, 2017 08:27 am

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