NAB Velocity Rewards Card

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  • NAB

  • 19.99%

  • 4.99% for 6 months

  • $65

  • 44

Rewards scheme

  • Points are automatically credited to the Velocity program.
  • All rewards are redeemed via Velocity.
  • Bonus Points offers from Velocity Partners including airlines, hotels, hire cars and more.

Special offers

  • 7,500 bonus Points when you apply by 30 June 2013 and make a purchase

Value of rewards points

  • Example reward
  • You'd need to spend
  •  
  • Visa
  • Amex
  • Flight: Sydney-London
  • $250,000
  • $125,000
  • $100 gift card
  • $27,000
  • $13,500
  • Flight: Sydney-Melbourne
  • $20,800
  • $10,400
  • Points are capped?
  • at $1,200,000 pa
  • Points expire?
  • Never

Details behind our 'value of rewards' calculations

  • Points earning 1 points per dollar on Amex, 0.5 points per dollar on Visa, up to $100,000 per month
  • Flight: Sydney-London 125000 points buys a Velocity partner London flight
  • $100 gift card 13500 points buys a Myer $100 Gift Card
  • Flight: Sydney-Melbourne 10400 points buys a Virgin Australia Syd-Mel flight

(how did we do it? find out...)

Rates

Purchase rate
19.99%
Intro purchase rate
none
Balance transfer rate
4.99% for 6 months
Balance transfer term
6 Months
Balance transfer revert to cash
no
Cash advance rate
21.74%
Interest free days
44

Other financial bits

Minimum repayment amount
$10.00
Minimum repayment percent
2.50%

Fees

Annual card fee
$65.00
Introductory fee
none
Annual fee spend threshold
none
Reward program fee
$
Late payment fee
$5.00
Overlimit fee
$0.00
Cash advance fee
1.75%, Min $1.75
Foreign exchange margin
2.50%
Duplicate statement fee
$7.00
Transaction verification fee
$5.00
Additional card fee
$0.00
Establishment fee
$

Features

Additional cardholders
1
Other restrictions
none
Other benefits
none

About NAB

National Australia Bank is one of the big four banks who provide a large variety of financial products to the Australian Community. In recent times NAB has set itself apart from the other big four banks; by expanding their ATM network, removing many fees and maintaining low standard variable home loan rates. NAB’s changes to its financial products have made their home loan, credit card, loans, savings accounts and personal loans more competitive within the banking industry.

How are NAB credit cards rated by the Mozo community?

Product Type Overall Price Features Service Convenience Trust
NAB credit cards 6.7 Based on 432
NAB credit card reviews 		5.9 5.8 6.8 7.5 7.0

Read NAB credit card reviews by the Mozo community

Latest reviews of NAB Velocity Rewards Card

    • Show Rates

      Willing to make the customer happy

        11. Overall customer rating
        12. (Reviewed about 1 month ago)

      Once I was thinking of cancelling this credit card as the interest rates were increasing and it was becoming unmanageable, however when I rang NAB and told the person why I wanted to close the account, she offered to decrease the interest rate whi...       Full review 

      Once I was thinking of cancelling this credit card as the interest rates were increasing and it was becoming unmanageable, however when I rang NAB and told the person why I wanted to close the account, she offered to decrease the interest rate which was a more competitive rate to other banks. I was happy that they were willing to make the customer happy.


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      NAB Velocity Rewards Card credit card review by Megan from Queensland

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    • Show Rates

      Ok

        11. Overall customer rating
        12. (Reviewed about 1 month ago)

      The rates are high and you are given little time to pay each month which can be a pain.       Full review 

      The rates are high and you are given little time to pay each month which can be a pain.


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      NAB Velocity Rewards Card credit card review by Felicity from Queensland

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      Yes
    • Show Rates

      Go Velocity!

        11. Overall customer rating
        12. (Reviewed 3 months ago)

      Definitely linking it to the Velocity Account is worthwhile.       Full review 

      Definitely linking it to the Velocity Account is worthwhile.


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      NAB Velocity Card credit card review by Paul from Queensland

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    • Show Rates

      POOR CUSTERMER SERVICE

        11. Overall customer rating
        12. (Reviewed 3 months ago)

      They called and harassed me! Tried to get me to find a cheaper place, tried to say I should sell my car.       Full review 

      They called and harassed me! Tried to get me to find a cheaper place, tried to say I should sell my car.


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      NAB Velocity Card credit card review by Ray from Queensland

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    • Show Rates

      Great rewards programme

        11. Overall customer rating
        12. (Reviewed 6 months ago)

      I love the velocity rewards. They are paying for most of my family flights to NZ to introduce my baby to my extended family. So this rewards programme has really worked for my family.       Full review 

      I love the velocity rewards. They are paying for most of my family flights to NZ to introduce my baby to my extended family. So this rewards programme has really worked for my family.


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      NAB Velocity Card credit card review by Carla from New South Wales

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    • Show Rates

      Great rates and service need to improve the detail

        11. Overall customer rating
        12. (Reviewed 10 months ago)

      The process in applying for the card was very easy, very simple, the velocity rewards program has been great I have had the card over 12 momths now and have flown for free 3 times, the only slight down side to the card is that when you purchase an...       Full review 

      The process in applying for the card was very easy, very simple, the velocity rewards program has been great I have had the card over 12 momths now and have flown for free 3 times, the only slight down side to the card is that when you purchase an item it takes about 2-3 days to have the detail show on your acccount (eg: if i purchase a dress for $100 the transaction will show on the account but no details of the transaction)


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      NAB Velocity Card credit card review by Michelle from New South Wales

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    • Show Rates

      Individual care and service

        11. Overall customer rating
        12. (Reviewed 11 months ago)

      My husband died a few weeks ago from a terminal cancer, and had been a platinum mastercard member with myself as subsidiary for over 30 years. He requested I be the main cardholder and we were told it could not happen. My history for credit was no...       Full review 

      My husband died a few weeks ago from a terminal cancer, and had been a platinum mastercard member with myself as subsidiary for over 30 years. He requested I be the main cardholder and we were told it could not happen. My history for credit was now zero. NAB said a new application would mean any history from the current card would not be viewed. I applied with St George Bank and Westpac where I hold investments and was rejected for a credit card. I applied with the NAB and although it took a long time I was successful for a low amount of credit which I am grateful for. I do not have an income only a centrelink newstart allowance as I am not pension age yet. (age 61) I have never been late in paying our cards. I believe women should be aware of the pitfalls in being the subsidiary card holder, I was devastated as too my husband. I was the one who paid all the bills and managed funds yet I felt like I didn't exist. I will be moving my bank accounts to NAB now.


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      NAB Velocity Card credit card review by Deidre from New South Wales

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      Yes
    • Show Rates

      Great rewards!

        11. Overall customer rating
        12. (Reviewed about 1 year ago)

      The points add up so quickly and I love being able to cash them in for movie tickets! As a single mum its nice to treat myself without feeling guilty for spending cash on me!       Full review 

      The points add up so quickly and I love being able to cash them in for movie tickets! As a single mum its nice to treat myself without feeling guilty for spending cash on me!


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      NAB Velocity Card credit card review by Louise from South Australia

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      Yes
    • Show Rates

      Bad

        11. Overall customer rating
        12. (Reviewed about 1 year ago)

      When we transfered over we were told a cheaper interest rate and the customer service doesn't even exist. Nothing we were told existed, not impressed       Full review 

      When we transfered over we were told a cheaper interest rate and the customer service doesn't even exist. Nothing we were told existed, not impressed


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      NAB Velocity Card credit card review by Ann from New South Wales

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      Yes
    • Show Rates

      Such potential! But dissapointing in practice

        11. Overall customer rating
        12. (Reviewed about 1 year ago)

      Other people have had great experiences with NAB, unfortunately, I have had some terrible customer service mistakes. I got the wrong cards, I have not been able to access the accounts on the cards, and when ai added a joint account to my card, one...       Full review 

      Other people have had great experiences with NAB, unfortunately, I have had some terrible customer service mistakes. I got the wrong cards, I have not been able to access the accounts on the cards, and when ai added a joint account to my card, one of the account owns is only able to access it at a time. It means that I have been into the branch at least 7 times and the issues are still ongoing. I'll probably end up going back to the commonwealth bank even though they are not much better. Very sad that one person who sets up the account set a bad standard.


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      NAB Velocity Card credit card review by Brydie from New South Wales

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    • Show Rates

      Competitive rates with a friendly smile

        11. Overall customer rating
        12. (Reviewed about 1 year ago)

      NAB have clearly stepped up to the plate since the class action over their fee charges for overdrawn credit cards. Their ad campaign was quite good and I am always met with a friendly smile at my local branch. Well done NAB!!       Full review 

      NAB have clearly stepped up to the plate since the class action over their fee charges for overdrawn credit cards. Their ad campaign was quite good and I am always met with a friendly smile at my local branch. Well done NAB!!


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      NAB Velocity Card credit card review by Dave from South Australia

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    • Show Rates

      Good rates, good rewards, bad customer service

        11. Overall customer rating
        12. (Reviewed about 1 year ago)

      Up until last Wednesday I would say this was the best credit card in the world. I would still say that EXCEPT for the operators at Card Services made an error when I deposited a cheque into my Visa account. Instead of waiting for the cheque to cl...       Full review 

      Up until last Wednesday I would say this was the best credit card in the world. I would still say that EXCEPT for the operators at Card Services made an error when I deposited a cheque into my Visa account. Instead of waiting for the cheque to clear they DEBITED the cheque to my account making my account overdrawn hence stopping me using my card without even notifying me. It took four days and a lot of constant contacting consumer service to even convince them they had made an error until finally on the fourth day I found somebody senior enough to see the error and work through how to correct it. I am ready to cancel this account


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      NAB Velocity Card credit card review by Carol from Queensland

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      Yes

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