NAB Rewards Platinum Credit Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

⚠ Personal credit card changes: From 18 April 2024, NAB is changing the way reward points will be earned on some transactions and Points Boosters and some updates to the terms and conditions. A summary of the changes can be found here.

The NAB Rewards Platinum Credit Card

Allowing you to earn NAB Rewards on your credit card spending, the NAB Rewards Platinum Credit Card is a rewards card packed with extras and some very enticing introductory offers as well. If you apply today, you can earn 100,000 bonus NAB Rewards Points - 80,000 bonus Points when you spend $1,000 on everyday purchases within the first 60 days of account opening and 20,000 bonus Points when you keep your card open for over 12 months (worth $480 in gift cards). Plus benefit from 0% p.a. on balance transfers for 12 months.

* Just be aware that to be eligible for the bonus points, you can’t be an existing NAB customer who has already applied for or is currently entitled to NAB Rewards Bonus points for a new home loan or personal credit card within 18 months of applying for the NAB Rewards Platinum credit card.

NAB has also partnered with Accor, giving you the chance to convert your NAB Rewards points into Accor Live Limitless (ALL) points and redeem them for hotel stays. 6 NAB Rewards points equals 1 ALL point, which you can set up as an automatic transfer for convert manually in batches of 3000 NAB Rewards points. Your bonus points can be converted into ALL points, too.

ALL Reward points can be used toward a hotel stay (as long as you meet the bonus point criteria. When you use your ALL points for an eligible one-night stay, you'll be fast-tracked to ALL Silver status, which gives you early or late check-in and a welcome drink.

What we love...

What do we love? It’s hard to go past that bonus points offer. If you apply for the NAB Rewards Platinum Credit Card today, you can take home 100,000 bonus NAB Rewards Points - 80,000 bonus Points when you spend $1,000 on everyday purchases within the first 60 days of account opening and 20,000 bonus Points when you keep your card open for over 12 months (worth $480 in gift cards). So, what does 100,000 NAB Rewards Points actually give you?

The NAB Rewards Program offers plenty of diversity. Having teamed up with Air New Zealand’s Airpoints, Cathay Pacific’s Asia Miles, Singapore Airlines’ Kris Flyer, and Virgin’s Velocity Frequent Flyer, NAB Rewards lets members transfer points to their chosen frequent flyer programs. So if you want to earn Airpoints Dollars, that 100,000 Points bonus would equate to $400 to spend on Air New Zealand flights.

Alongside a host of frequent flyer redemption options, NAB Rewards also lets members redeem points within the NAB Rewards Store. You can redeem your NAB Rewards Points for a wide range of gift cards, vouchers, homewares, technology, products and travel with Webjet. And that bonus? 100,000 NAB Rewards Points could give you $480 in gift cards.

Point calculations are accurate as of 16 July 2024 but may be subject to change without notice. All routes may have additional taxes and charges. Check on the official NAB page for the updated calculations.

You can earn NAB Rewards Points for everyday spending and Bonus Points for shopping with certain retailers:

• Earn 1 NAB Rewards Point for every $1 spent on everyday purchases
• Earn Bonus Points at eligible grocery stores: you'll get 1 NAB Rewards Point plus 0.5 additional bonus point when you spend at eligible grocery stores.
• Earn Bonus Points with Webjet: you'll earn 1 NAB Rewards point plus 1 additional bonus NAB Rewards Point for purchases made online with Webjet. Purchases must be made via Webjet's website or the NAB Rewards Store (Webjet booking terms and conditions apply).

Just note that an eligible grocery store is one with a 5411 Merchant Category Code, and you won't earn Bonus Points if you use a third-party payment service such as PayPal or Uber Eats.

In terms of points redemption on frequent flyer programs, here’s how that stacks up:

• 3,000 NAB Rewards Points equals 15 Airpoints Dollars
• 3,000 NAB Rewards Points equals 1,000 Asia Miles
• 3,000 NAB Rewards Points equals 1,000 KrisFlyer Miles
• 3,000 NAB Rewards Points equals 1,500 Velocity Frequent Flyer Points

And, remember you can now opt to convert your NAB Reward points into Accor Live Limitless points, which can be used towards travel costs and experiences.

What’s not so great...

Now for the not-so-fun stuff. If you choose to take advantage of the 0% p.a. balance transfer offer, be aware that there is a 3% balance transfer fee and any transferred balance left unpaid at the end of the six month introductory period will revert to the card’s variable cash advance rate of 21.74% p.a.

In terms of interest in general, both the card’s variable purchase rate and cash advance rate are relatively high, so try to avoid carrying a balance whenever possible. The card also has a fairly significant standard annual fee of $195, but as long as you find value in the card, then the annual fee should pay for itself.

Why should you choose this card?

If you want to earn rewards on your credit card spending – and you’re not bothered about earning on the Qantas program – then the NAB Rewards Platinum Credit Card could be a fantastic option. NAB seems to have put a lot of work into the NAB Rewards Program, allowing members to choose between three very popular frequent flyer options, and a well-stocked NAB Rewards Store.

You'll also enjoy a reduced annual card fee of $45 for the first year, saving you $150. Plus, you can choose to add one additional cardholder at no extra cost, allowing you to earn points faster. And, if you have existing credit card debt, you can take advantage of the card’s balance transfer offer of 0% p.a. on balance transfers for 12 months.

In terms of extras, you can benefit from the assistance of the NAB Concierge Service, and advanced ticket sales with Visa Front Line access.

Overall Rating

An excellent rewards card, the NAB Rewards Platinum Credit Card is perfect for cardholders looking to earn points on the NAB Rewards Program while enjoying an array of extras, plus 100,000 bonus NAB Rewards Points, 0% p.a. on balance transfers for 12 months, plus a reduced annual fee for the first year.