NAB Rewards Signature Credit 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 NAB Rewards Signature Credit Card with up to 140,000 NAB Rewards bonus Points

If you want something more from your credit card, perhaps the NAB Rewards Signature Credit Card is for you. Designed to offer prestige perks, this rewards card lets you earn as you spend on NAB’s own rewards program while enjoying a number of excellent features and benefits.

Still want more? To sway your decision, NAB is currently offering a pretty sweet deal as an introductory offer, providing new cardholders with up to 140,000 NAB Rewards bonus Points to spend on all sorts of lovely stuff within the NAB Rewards Store.

So, without further ado, let’s look a little closer at this prestige piece of plastic to find out if it’s got what it takes to keep you happy as a cardholder.

What we love...

Before we get into anything else, we really have to talk about that introductory offer. Providing you with a nice chunk of points to get you started, the NAB Rewards Signature Credit Card is currently offering - 100,000 bonus Points when you spend $3,000 on everyday purchases in the first 60 days (credited to your points balance within 3 months of meeting the spend criteria) and 40,000 bonus Points after 12 months (credited to your points balance within the 13th month).

What does 140,000 NAB Rewards bonus Points mean for you? Well, as a guide, that would equate to $680 in gift cards. If you’re not keen on gift cards, also available within the NAB Rewards Store is a range of homewares and technology as well as travel-related purchases through Webjet.

As for your everyday earn rate, this card allows you to earn 1.25 NAB Rewards Points per $1 spent on everyday purchases, double points boost on purchases made in major department and hardware stores, and triple points boost with Webjet when traveling overseas or on overseas purchases made here in Australia.

And, while it may not be the big headliner here, there is a balance transfer offer available as well. If you want to pay down existing credit card debt, you could transfer it to the NAB Rewards Signature Credit Card to benefit from 0% p.a. on balance transfers for 12 months with a 3% balance transfer fee.

Adding more to the awesome offers of this card is the reduced annual fee which new cardholders will enjoy. You will save $100 for the first year on the annual fee, currently $295.

What’s not so great...

What should you know before you apply for the NAB Rewards Signature Credit Card? Well, as you would expect from a prestige card, there is a significant annual fee to cover, as well as a relatively high interest rate on purchases and cash advances.

However, you may find that you’re getting enough back from the card to make the annual fee worthwhile, while avoiding interest by paying off the balance month-to-month. What’s also worth bearing in mind though is that the minimum credit limit is $15,000 and any unpaid balance transfers revert to the variable cash advance rate of 21.74% p.a. when the intro period ends.

Why should you choose this card?

If you love the bonus Points on offer and the earn rate available, you may be interested in some of the other features this card could provide. With the NAB Concierge Service, you have your own personal assistant available 24/7 for travel and lifestyle services, as well as ticket reservation assistance from Visa Front Line Access.

On top of that, you have a raft of complimentary insurances covering you, including several international travel insurances (including COVID-19 coverage effective 30 June 2022, T&Cs apply), purchase protection insurance, and extended warranty insurance .

Overall Rating

A prestige card that earns points on the NAB Rewards program, offering up to 140,000 NAB Rewards bonus Points, 0% p.a. for 12 months on balance transfers, reduced annual fee for the first year, and a host of convenient features and benefits.