NAB Rewards Signature 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.

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.

* 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. You can also transfer points to NAB's partner airline programs like flybuys, Velocity Frequent Flyer, KrisFlyer, Cathay Pacific and Airpoints.

Giving this card even more travel perks, NAB is also waiving foreign transaction fees on overseas purchases and offering a Flight Delay Lounge Pass if your flight is delayed by more than 60 minutes at selected airports.

So, with all those perks in mind, let’s look a little closer at this prestige card to find out if it’s got what it takes to keep you happy as a cardholder.

What we love...

As for your everyday earn rate, this card allows you to earn 1.5 NAB Rewards Points per $1 spent on everyday purchases, but once you've spent $15,000 on the card in a statement period the rate drops to 0.5 points. As a bonus, you'll earn 3 points when you spend with Webjet. You can buy any seat on any airline at any time.

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.

⚠ NAB allows transfers from most non-NAB cards, but also lists several brands that aren’t compatible with its transfer process. These include Bendigo Bank, ING, Latitude Finance, Great Southern Bank, Heritage Bank, Adelaide Bank, credit unions and Amex.

Adding more to the awesome offers of this card is the potential to waive the monthly fee. If you spend $5000 or more in a statement period, your monthly fee is reversed. That's a great perk if you think you'll spend more than the minimum each month.

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 high minimum credit limit of $15,000 and relatively high interest rate on purchases and cash advances.

What’s also also worth bearing in mind is that once the 0% p.a. balance transfer period ends, you'll be charged the variable cash advance rate of 21.74% p.a., so it's best to try to pay off the balance transfer before the 12 months is up.

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.

On top of that, you have a raft of complimentary insurances covering you, including domestic and international travel insurances, rental vehicle excess cover in Australia, and mobile phone insurance. You'll also get purchase protection insurance and extended warranty insurance .

Overall Rating

A prestige card that earns points on the NAB Rewards program, offering 0% p.a. for 12 months on balance transfers, and the opportunity to waive the monthly fee and a swag of convenient features and benefits.