- Competitive mid-tier bonus: Up to 90,000 Velocity Points is strong for a $195 annual fee card (automatically redeemed from 180,000 NAB Rewards Bonus Points) - 70,000 Points when you spend $4,000 on everyday purchases within the first 90 days from account opening, plus 20,000 Points when you keep your card open and in good standing for over 12 months.
- Automatic Velocity transfer: Points convert monthly once Auto Redemption is activated.
- Bonus earn categories: 1.5 NAB Rewards Points per $1 at eligible grocery stores (MCC 5411) and 2 points per $1 on eligible Webjet bookings.
- Travel insurance included: International travel insurance and rental vehicle excess cover add practical value.
- Free additional cardholder: Useful for households looking to accelerate points earning.
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NAB Credit Cards
NAB Rewards Platinum Credit Card – Velocity
Updated 26 February 2026
The NAB Rewards Platinum – Velocity card currently offers up to 90,000 Velocity bonus Points offer (automatically redeemed from 180,000 NAB Rewards Bonus Points): 70,000 Points when you spend $4,000 in the first 90 days from account opening, plus 20,000 Points when you keep the card open for over 12 months.
Once Auto Redemption is activated, NAB Rewards Points are automatically redeemed at a rate of 2 NAB Rewards Points = 1 Velocity Point and transferred monthly to your Velocity account. This platinum card also includes complimentary international travel insurance, rental vehicle excess cover and purchase protection insurance, along with up to 44 interest-free days on purchases when paid in full.
Terms and conditions apply.
Points Earn Rate (per $1 spent)
1 point
VelocityRewards Program
Velocity Frequent Flyer
Bonus Points
up to 90k pts
70k points when you spend $4,000 within the first 90 days PLUS 20k points when you keep your card for over 12 months
Pros and cons
- The $195 annual fee is ongoing.
- The 20.99% p.a. purchase rate means it's best not to carry a balance.
- 3.5% foreign transaction fee applies to overseas spending.
- Bonus offer unavailable if you’ve held a personal NAB Rewards card in the last 24 months.
Creditcard.com.au review
Editor Review
NAB Rewards Platinum Credit Card – Velocity
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.
⚠️ Upcoming changes to NAB Complimentary Insurance
From 15 May 2026, certain NAB cards will no longer include International Travel, Domestic Travel, and Rental Vehicle Excess Insurance. For others, the duration of International Travel Insurance coverage will be reduced. A summary of the changes can be found here.
The Big Review: NAB Rewards Platinum Credit Card – Velocity
The NAB Rewards Platinum Credit Card – Velocity is a mid-tier frequent flyer card designed to help you earn Velocity Points through everyday spending. It currently offers up to 90,000 bonus Velocity Points (automatically redeemed from 180,000 NAB Rewards Bonus Points) — 70,000 Points when you spend $4,000 on everyday purchases within the first 90 days from account opening, plus 20,000 Points when you keep your card open and in good standing for over 12 months.
Beyond the bonus, you’ll earn NAB Rewards Points on eligible purchases, which convert automatically to Velocity Points at a rate of 2 NAB Rewards Points = 1 Velocity Point once Auto Redemption is activated.
- Up to 90,000 bonus Velocity Points on a new NAB Rewards Platinum Credit Card – Velocity (70,000 Points when you spend $4,000 within the first 90 days, and 20,000 Points when you keep your card open for over 12 months).
- Annual fee of $195 p.a.
- 0% p.a. on balance transfers for 12 months (a 3% balance transfer fee applies).
- Up to 44 days interest free on purchases (when you pay your statement balance in full by the due date).
- Earn 1 NAB Rewards Point per $1 on eligible everyday purchases.
- Earn 1.5 NAB Rewards Points per $1 at eligible grocery stores (MCC 5411).
- Earn 2 NAB Rewards Points per $1 on eligible Webjet bookings (via NAB Rewards Store or Webjet.com.au, per NAB eligibility rules).
- Complimentary international travel insurance (subject to eligibility criteria and policy terms).
- Rental vehicle excess cover, purchase protection insurance, extended warranty insurance and transit accident cover (subject to eligibility criteria and policy terms).
- $6,000 minimum credit limit.
- Variable purchase rate: 20.99% p.a.
- Variable cash advance rate: 21.74% p.a. (BT reverts to this rate after the promotional period).
- Foreign transaction fee: 3.5%.
- Bonus offer not available if you currently hold, or have held, any personal NAB Rewards Credit Card in the last 24 months.
This Card: The Lowdown
The NAB Rewards Platinum – Velocity strikes a balance between bonus points and ongoing earn, without moving into the higher annual fee tier of premium frequent flyer cards. If you meet the $4,000 spend requirement and keep the card beyond 12 months, the full 90,000 Velocity Points can deliver meaningful value — particularly for those who redeem for flights.
On day-to-day spending, the earn structure is simple, with boosted earning at eligible grocery stores and 1 Bonus Point on top of the normal 1 Rewards Point on eligible Webjet bookings. Once Auto Redemption is switched on, NAB Rewards Points are converted automatically and transferred into your Velocity account each month.
While rewards cards are best used for earning points and using the perks, this one also comes with a 0% p.a. offer on balance transfers for 12 months, with a 3% fee (which is added to your balance transfer total). Some credit card providers don't allow interest-free days on regular purchases while you have an active balance transfer, but NAB does - just make sure you pay off the full balance of your purchases each statement period. You'll also have to make the minimum balance transfer payment, and ideally more so you pay off your transfer within the 12-month promotional period.
This Card: As a Velocity Rewards Card
If you want Velocity Points without needing to manually manage conversions, this card is built to keep things straightforward:
- NAB Rewards Points convert automatically to Velocity at 2 points = 1 Velocity Point once Auto Redemption is activated.
- Bonus points are awarded in two stages (after meeting the 90-day spend requirement and again after holding the card for over 12 months).
Because it’s a Platinum-tier card, it also includes complimentary international travel insurance and rental vehicle excess cover on eligible trips. That can be useful if you travel occasionally and want cover included, provided you meet the eligibility criteria and your trip qualifies under the policy. NAB also offers 24/7 Concierge Services, which gives you access to round-the-clock lifestyle services like flight information, sourcing and purchasing tickets, making reservations, hiring cars, organising gift baskets and flowers, courier services and so much more.
It’s also worth factoring in the basics: the purchase rate is 20.99% p.a., so carrying a balance can quickly reduce the value of points earned. Interest free days only apply when you pay the required amount in full by the due date, and having an outstanding balance transfer can impact how interest free days apply to purchases.
Decision Time
If you can meet the $4,000 spend requirement within 90 days and keep the card open for over 12 months, the NAB Rewards Platinum – Velocity offers a competitive bonus and steady ongoing earn for a $195 annual fee.
This card is generally best for those who pay their balance in full each month, want automatic Velocity transfers, and travel occasionally with value in the included insurance cover. If you regularly carry a balance, want lounge access, or prefer a low-fee card, you may be better suited to a different option.
Terms and conditions apply.
User reviews
Rates and fees
Interest rates
Purchase rate 20.99% p.a.
Cash advance rate 21.74% p.a.
Interest free period on purchases up to 44 days
Balance transfer
Balance transfer rate 0% p.a. for 12 months
Balance transfer revert rate 21.74% p.a.
Balance transfer from personal loan No
Balance transfer fee 3% one off
Balance transfer limit 90% of approved credit limit
Brands you can't balance transfer from NAB
Credit limits
Minimum credit limit $6,000
Maximum credit limit $30,000
Fees & repayments
Annual fee $195 p.a.
Additional cardholder fee $0 p.a.
Foreign transaction fee 3.5%
Minimum repayment 2% or $25 whichever is greater
Cash advance fee 3.5% or $3.50 (personal); 3% or $3 (business) whichever is greater
Late payment fee $20
Rewards and points
Rewards program
Rewards Program
Velocity Frequent Flyer
Bonus points up to 90k points
Annual points cap uncapped
Bonus points spend criteria 70k points when you spend $4,000 within the first 90 days PLUS 20k points when you keep your card for over 12 months
Earning points with this card
Velocity Rewards points 1 point per $1 spent
Points cap per month N/A
Overseas earn rate same as standard earn rate
Additional features
Complimentary insurance
International Travel Insurance Yes
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance Yes
Extended Warranty Insurance Yes
Rental Vehicle Excess In Australia Insurance Yes
Extras
NAB Concierge Service
Global emergency card replacement
Fraud protection monitoring
Overview
NAB Rewards Platinum Credit Card – Velocity
The NAB Rewards Platinum Credit Card – Velocity card is currently offering up to 90,000 bonus Velocity Points (automatically redeemed from 180,000 NAB Rewards Bonus Points) — 70,000 Points when you spend $4,000 on everyday purchases within the first 90 days from account opening, plus 20,000 Points when you keep the card for over 12 months. If you’re looking to boost your Velocity balance through everyday spending, this mid-tier Platinum card delivers a strong sign-up incentive with automatic monthly Velocity transfers.
Key features
- Purchase rate: 20.99% p.a. (variable)
- Annual fee: $195 p.a.
- Cash advance rate: 21.74% p.a. (variable)
- Interest-free days: Up to 44 days on purchases when paid in full
- Minimum credit limit: $6,000
- Card type: Visa Platinum
- Additional cardholders: $0 p.a. (must be 16+ years old)
- Digital wallets: Apple Pay, Google Pay, Samsung Pay
- Extras: Complimentary travel and purchase insurances
- Foreign currency fee: 3.5%
- Accepted globally: Yes — anywhere Visa is accepted
- Late payment fee: $20
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
-
Permanent Australian resident or an acceptable visa holder
-
Minimum income of $35000 p.a.
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
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