NAB Rewards Business Signature Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

The Big Review: NAB Rewards Business Signature Card

Providing a flexible rewards program alongside a range of useful business tools, the NAB Rewards Business Signature Card makes it easy to earn points on business spending while benefiting from valuable extras. Cardholders can enjoy access to complimentary insurances, a concierge service and an array of exclusive Visa Premium benefits, with the option to add multiple cards to the account, each with individual credit limits and detailed monthly statements. And the big drawcard? Spend $4,000 on the card in the first 60 days and collect 100,000 bonus NAB Rewards Points to spend as you like.

• Collect 100,000 bonus NAB Rewards Points
• Earn up to 3.75 NAB Rewards Points per $1, using NAB’s Points Booster system.
• Flexible rewards options.
• Convert NAB Rewards Points to Air New Zealand’s Airpoints, Cathay Pacific’s Asia Miles, Singapore Airlines’ KrisFlyer or Virgin Australia’s Velocity Points.
• Access to Visa Premium benefits, which include special discounts and exclusive offers on travel, and the assistance of a personalised concierge service.
• Up to 44 days interest free on purchases.
• Access to Visa’s global service and support.
• NAB Expense Control. Full control over business spending, with individual credit limits for multiple cardholders and detailed monthly statements.
• Complimentary cover from NAB Commercial Cards Unauthorised Transaction Insurance and Transport Accident Insurance.
• Fast and easy application process, utilising your online accounting software for a quick online decision.

• To be eligible for the bonus points offer you must spend $4,000 on everyday business purchases within 60 days of account opening.
• Annual fee: $175
• Purchase rate: 18.50% p.a. (variable)
• Cash advance rate: 21.74% p.a. (variable)
• Minimum facility credit limit: $5,000

This Card: The Lowdown

If you’re a business owner looking for an easy way to earn rewards points on your business spending, the NAB Rewards Business Signature Card could be for you. Using NAB’s Points Booster, you could earn up to triple points on overseas spending, making this a valuable option for anyone who travels overseas regularly, or who spends internationally on a routine basis.

While it may not be overrun with prestige features, the NAB Rewards Business Signature Card has plenty to offer in the way of extras, providing access to Visa Premium’s exclusive benefits and discounts on travel and retail. And of course, 100,000 bonus NAB Rewards Points is nothing to be sniffed at either.

What could you do with 100,000 NAB Rewards Points?

• If you want to treat yourself – or someone else – to a bit of retail therapy, you could pick up a $500 Big W Digital Gift Card (5 x $100 gift cards) for 96,150 NAB Rewards Points, or a $500 David Jones Digital Gift Card (2 x $250 gift cards) for 96,160 NAB Rewards Points.
• Time for some new tech? Invest in an Apple iPad Wi-Fi 32GB Silver for 97,710 NAB Rewards Points.
• Something for the office? You could keep perfectly cool this summer with a Dyson AM06 300mm Desk Fan for 83,130 NAB Rewards Points.
• Fancy a treat? Enjoy some bubbles with a bottle of Dom Perignon Champagne Luminous 2006 750ml for 104,170 NAB Rewards Points.
• Need to get away? Convert your 100,000 NAB Rewards Points to 50,000 Velocity Points to fly from Sydney to Los Angeles, redeeming 44,800 Velocity Points, plus taxes, fees and surcharges.

[Points correct as of 7 August 2018]

Digging Deeper

With the basics covered, it’s time to dig a little deeper into what’s on offer with the NAB Rewards Business Signature Card, so you can decide whether this card is right for you.

This Card: As a Rewards Card

Surely one of the most appealing features on the NAB Rewards Business Signature Card is its bonus points offer. As a new cardholder, you could collect 100,000 NAB Rewards Points when you spend $4,000 on everyday business purchases within 60 days of account opening.

What is designated an eligible ‘everyday business purchase’ actually has a pretty wide scope, but be warned, any purchases NAB decides are wholly or partly for gambling or gaming purposes will not count towards that minimum spend. Once the minimum spend criteria has been met, 100,000 bonus points will be credited to the accountholder’s points balance within three months.

It is worth noting that if you currently have – or have held in the previous 12 months – a NAB Rewards Business Platinum credit card or any other NAB business credit card that included a special offer, you will not be eligible to collect the bonus points on application of this card.

Earning Points

Allowing you to earn uncapped points on your spending, the NAB Rewards Business Signature Card works on a Points Booster system. This gives you:

• 1.25 NAB Rewards Points per $1 ,
• Double points – or 2.5 NAB Rewards Points per $1 spent – at major department and hardware stores (including David Jones, Myer, Bunnings, Mitre 10, Big W, Target and Kmart),
• Triple points – or 3.75 NAB Rewards Points per $1 – with Webjet, when using your card when travelling overseas or on overseas purchases made here in Australia.

Redeeming Points

One of the great things about NAB Rewards is its flexibility as a rewards program. Redeeming your points in the NAB Rewards Store, you have more than 1,000 tempting options at your fingertips, including gift cards, homewares, technology and travel. And it’s up to you whether you choose to reward yourself, your employees or your business.

You may also choose to use your points to top up your frequent flyer balance. Having teamed up with several of the most popular frequent flyer programs, NAB Rewards allows you to convert your NAB Rewards Points to the following airline partner programs:

• Air New Zealand Airpoints: 3,000 NAB Rewards Points = 15 Airpoint Dollars
• Cathay Pacific Asia Miles: 3,000 NAB Rewards Points = 1,000 Asia Miles
• Singapore Airlines KrisFlyer: 3,000 NAB Rewards Points = 1,000 KrisFlyer Miles
• Velocity Frequent Flyer: 3,000 NAB Rewards Points = 1,500 Velocity Points

Other points redemption options include:

• Using your points to cover business expenses, allowing you to free up petty cash by using points to pay for anything from office supplies to office equipment.
• Rewarding your employees, by redeeming your points for gift cards or merchandise to recognise great work. Alternatively, you could transfer points to employees who have their own personal NAB Rewards Card.
• Booking business and personal travel through Webjet, allowing you to choose any seat with any airline, anytime.
• Accessing Points Plus Pay, letting you redeem your points for a portion of the reward to then pay for the remainder. If you use your NAB Rewards Business Signature Card to cover the remaining amount, you will earn additional points.

This Card: As a Travel Rewards Card

While the NAB Rewards Business Signature Card doesn’t have many of the high-end features often found on prestige travel rewards cards – such as complimentary airport lounge access, hotel stays and flights – it does have a nice selection of useful travel extras businesses may find valuable, on offer from Visa Premium.

Concierge Service

If you travel for business, Visa’s personalised global concierge service could save you time and hassle. On call 24/7, this tailored concierge service offers a wide range of travel and lifestyle services, including pre-trip information for major destinations worldwide, and assistance with restaurant reservations, event bookings, and cultural, sporting, shopping and tourist information.

Special Offers

Created by Visa for business owners, this service offers special travel and retail privileges. You could save on car rental, access accommodation booking services, receive special offers on VIP airport lounge access and travel assistance programs, and enjoy exclusive discounts and complimentary gift items at duty free retailers and shopping centres.

This Card: Extras on Offer

Happily, the extras don’t stop there. The NAB Rewards Business Signature Card offers a number of additional features, helping to make business spending more accountable, backed by two complimentary insurance covers.

Control over Business Spending

As you would expect from a business credit card that allows for multiple cardholders, the NAB Rewards Business Signature Card offers full control over business spending for the accountholder. You can add multiple cards with individual credit limits under a single facility, with detailed monthly statements provided for each cardholder, and one overall summary.

Having a systematic and convenient solution on the everyday operations is undeniably vital for a business to grow and succeed. Thus, NAB offers NAB Expense Control app which is designed to manage all the primary and supplementary cards' expenses and transactions in one dashboard. This cool integration has a growing list of features.

• Easy onboarding. Users will simply download the app and scan their card. Primary cardholder can see all supplementary cards on the app.
• Card control. You can set employee spending limit, track all expenses and get notified on every transactions.
• Expense capture. Users will receive a push notification to add a receipt within seconds of completing a payment.
• Dashboard integration. Primary user have full visibilty and control over all expenses and transactions made using the cards. It allows also to set alerts and notifications plus export all data for reporting purposes.
• Real-time notification and pre-approval. Users can easily request for pre-approved expenses which will be received instantly by the primary user to action.
• Coming soon feature. Issue virtual cards to staff for use online and over the phone.

Peace of Mind

As a NAB Rewards Business Signature Cardholder, you can benefit from complimentary cover from NAB Commercial Cards Unauthorised Transaction Insurance and Transport Accident Insurance.

Unauthorised Transaction Insurance insures you against unauthorised transactions made by cardholders, providing cover for up to $20,000 per individual cardholder, or up to $150,000 per accountholder in any 12 month period.

As for Transport Accident Insurance, this covers loss of life, or specific injuries suffered as a result of an accident while riding as a passenger on a conveyance during an authorised business trip. To be eligible, you must have used your NAB Rewards Business Signature Cardholder to pay for the entire conveyance cost during an authorised business trip (and does not include travel paid for using points).

Interest Free Days

While plenty of credit cards offer interest free days on purchases, that doesn’t make this feature any less valuable. The NAB Rewards Business Signature Card offers cardholders up to 44 days interest free on purchases, as long as the account is paid in full by the due date each month. This can make managing cashflow easier, but take note, it doesn’t cover cash advances or purchases relating to gambling or gaming.

Support

Another feature offered by Visa, this provides cardholders access to Visa’s global customer assistance wherever they happen to be in the world, at any time of the day or night.

Simple Application Process

Helping to save you time and stress, NAB offers a fast and easy application process on the NAB Rewards Business Signature Card. All you need to do is upload your financial data from any accounting package software, and you will get a quick online decision. To help the process run smoothly, be sure to have your financial reports at the ready before applying.

If you use Xero or MYOB online accounting software, application becomes even easier. Simply connect securely with your login credentials and NAB will do the rest.

The Usual Suspects

While they may not be any less important, these are the features you now expect on any new credit card. You can benefit from all of these common features with the NAB Rewards Business Signature Card in your wallet:

• Fraud protection: You will be reimbursed for any fraudulent transactions on your card, as long as you operate your account responsibly and contact NAB as soon as you detect a problem.
• Online security: By registering with Verified by Visa, you can help reduce the opportunity for online fraud by confirming your identity with a password when shopping online.
• Contactless payments: In-store purchases become even faster with Visa PayWave, as you ‘tap and go’ for all purchases under $100.
• Emergency assistance: If your card is lost or stolen, you will have access to support and assistance 24/7.

This Card: The Essentials

With all the extras covered, it’s now time to look at what the NAB Rewards Business Signature Card is going to cost you. In terms of interest, both the purchase rate and cash advance rate on this card is relatively high. It would be best to avoid interest charges altogether, by steering clear of cash advances and paying the account in full by the due date each month.

Doing this also allows you to take advantage of up to 44 days interest free on purchases. It could be said that you’d expect at least 55 days interest free on purchases on a card like this, but as that’s not on offer, you’ll just have to learn to make the 44-day limit work.

At $175, the annual fee is not cheap, but it’s what you would expect to pay for a business credit card of this calibre. What you may find difficult to swallow, however, is the additional cardholder fee. While some business cards allow for additional cardholders at no extra cost, or at a reduced rate, for every additional cardholder you add to the NAB Rewards Business Signature Card, you will pay the full $175 annual fee.

As for eligibility, you can apply for the NAB Rewards Business Signature Card online if you are:

• A sole trader, a partnership with up to two partners, a company with up to five directors, or a trustee of an eligible trust.
• Registered for GST, have a valid ABN/ACN and turnover of at least $75,000 per year.
• Over 18 years old and an Australian citizen or permanent resident
• Have 12 months of business financial data from your accounting software.

Decision Time

While it may have a relatively high annual fee for additional cardholders, the NAB Rewards Business Signature Card offers plenty of valuable additions and extras. Cardholders can earn points on a flexible rewards program, while enjoying access to business tools, travel benefits and 100,000 bonus NAB Rewards Points.