NAB Velocity Rewards Card

NAB

0% for 12 months then 19.99%

0% for 12 months

$65

Revealing rewards

How do we do it?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,
  • figure out how many flights or gift cards or cashback credits you could get for those points,
  • work out what that's actually worth to you,
  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.
  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.
  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.
  • In products that have more than one card, a different mix of spend between American Express / Visa / MasterCard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.
  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.
  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Blue Blue Saver including baggage and Jetstar Jetsaver including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Singapore, Virgin Atlantic and Malaysian, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.
  • Shopping rewards are based on $100 gift cards from a major national department store.
  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

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.

Privileges

  • Purchase Protection

Special offers

  • Apply by 19 April 2015 and make a purchase to receive 10,000 bonus Velocity Points.

Value of rewards points

  • Need to spend $36,000 (Visa) or $18,000 (Amex)

  • Need to spend $13,800 (Visa) or $6,900 (Amex)

  • Need to spend $250,000 (Visa) or $125,000 (Amex)

  • at $100,000 monthly

  • Never

Details behind our 'value of rewards' calculations

  • 1 point per dollar on Amex, 0.5 points per dollar on Visa, up to $100,000 per month

  • 18000 points buys a Myer $100 Gift Card

  • 6900 points buys a Virgin Australia Syd-Mel flight

  • 125000 points buys a Velocity partner London flight

* How did we do it? Find out...

Rates

  • 19.99%

  • 0% for 12 months

  • 0% for 12 months

  • no

  • 21.74%

  • 44

Fees

  • $65.00

  • none

  • none

  • none

  • $5.00

  • 1.75%, Min $1.75

  • 3.00%

  • $7.00

  • $5.00

  • $0.00

Other financial bits

  • $25.00

  • 2.0

Features

  • 1

  • none

  • 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 Rating Price Features Service Convenience Trust
7.2

Based on 631
NAB credit cards reviews

6.4 6.4 7.2 7.7 7.4

Read NAB credit card reviews by the Mozo community

Latest reviews of NAB Velocity Rewards Card

NAB

NAB Velocity Rewards Card credit card review

All cards are the same

Overall rating   5 / 10

Interest rates are too high and the additional cost to using overseas is excessive. Full review

Interest rates are too high and the additional cost to using overseas is excessive.

    Price rating   6 / 10

    Features rating   4 / 10

    Service rating   5 / 10

    Convenience rating   8 / 10

    Trust rating   4 / 10

Less

- Kevin (WA)

flag Was this review helpful? Yes

NAB

NAB Velocity Rewards Card credit card review

The best spend and earn credit card!

Overall rating   10 / 10

A great low-rate card + earning Velocity Points = a very happy shopper and world traveller! My husband and I have switched to NAB Velocity credit cards, and without changing our spending habits we have accumulated enough points to take a second... Full review

A great low-rate card + earning Velocity Points = a very happy shopper and world traveller! My husband and I have switched to NAB Velocity credit cards, and without changing our spending habits we have accumulated enough points to take a second honeymoon!

    Price rating   9 / 10

    Features rating   10 / 10

    Service rating   10 / 10

    Convenience rating   10 / 10

    Trust rating   10 / 10

Less

- Cendall (SA)

flag Was this review helpful? Yes

NAB

NAB Velocity Rewards Card credit card review

Convenient, reliable

Overall rating   6 / 10

Treated as a number even though a business banker has been allocated. It appears from my experience, that this bank prefers to deal with businesses and high income earners however has yet to succeed in simplifying products and services within the... Full review

Treated as a number even though a business banker has been allocated. It appears from my experience, that this bank prefers to deal with businesses and high income earners however has yet to succeed in simplifying products and services within the bank.

    Price rating   4 / 10

    Features rating   7 / 10

    Service rating   6 / 10

    Convenience rating   8 / 10

    Trust rating   7 / 10

Less

- Chris (VIC)

flag Was this review helpful? Yes

NAB

NAB Velocity Rewards Card credit card review

Competitive

Overall rating   9 / 10

I do have to pay an annual fee for my card but that is the price you pay with every organisation to be on a rewards scheme (frequent flyer points etc). NAB is the cheapest annual fee and their points system is fantastic. The interest rate is more... Full review

I do have to pay an annual fee for my card but that is the price you pay with every organisation to be on a rewards scheme (frequent flyer points etc). NAB is the cheapest annual fee and their points system is fantastic. The interest rate is more than reasonable and and the American Express feature that comes with the account is excellent.

    Price rating   9 / 10

    Features rating   9 / 10

    Service rating   9 / 10

    Convenience rating   10 / 10

    Trust rating   10 / 10

Less

- Kristian (NSW)

flag Was this review helpful? Yes

NAB

NAB Velocity Rewards Card credit card review

Handy Options

Overall rating   8 / 10

I really like the NAB Velocity Platinum Card. I love how I can use the Visa or American Express card from the same account. A lot of businesses don't accept American Express, but I use it when I can as it attracts extra points. Full review

I really like the NAB Velocity Platinum Card. I love how I can use the Visa or American Express card from the same account. A lot of businesses don't accept American Express, but I use it when I can as it attracts extra points.

    Price rating   5 / 10

    Features rating   7 / 10

    Service rating   6 / 10

    Convenience rating   7 / 10

    Trust rating   7 / 10

Less

- Katrina (VIC)

flag Was this review helpful? Yes

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