NAB Rewards Classic Card

19.99% p.a.

0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)


NAB Rewards Classic Card Review

Rates and fees information correct as at 24 June 2018.

Review published: 1 February 2017

What's hot:

  • 30,000 bonus points when you spend $1,500 on purchases in the first 60 days

  • Earn triple points on overseas purchases

What's not:

  • $95 annual fee

Mozo snapshot:

The NAB Rewards Classic Card is a low maintenance piece of plastic offering up plenty of rewards points, and a tonne of options for redeeming them, including for travel, tech and as a donation to over 80 partner charities. So if you’re after a rewards credit card packing great value and redemption variety, this one is definitely worth a look.

Key features:

The new offering from NAB is a rewards card option with plenty of flexibility. With a 19.99% interest rate attached, it’s affordable as far as rewards plastic goes, especially if you’re regularly cashing in on all the bonuses and freebies on offer.

As far as points go, there are three earning tiers. You’ll earn:

 - 0.75 points for every $1 spent on regular eligible purchases

 - Double points on spends at major department and hardware stores

 - Triple points on spends through Webjet, or on overseas purchases made either while travelling or here in Australia

Points are uncapped and never expire, and when it comes time to redeem, you have a heap of options at your fingertips. Through the NAB rewards program, you can cash in points for a seat on any airline through Webjet, donate to over 80 charities, pick up a range of homewares, tech or other retail products, or trade in your hard earned points for a gift card.

Other bonuses that come with this piece of plastic include purchase protection cover and special entertainment offers through Visa Entertainment. Looking for more complimentary insurance covers with your plastic? Check out the NAB Rewards Platinum card.

Who it's good for:

If you’ve been searching for a rewards credit card with a wide range of useful redemption options, then this might be the match for you - especially if you’re a traveller who will not only cash in on great rewards, but also be able to earn triple points when buying flights, accommodation or spending on your trips.

Any catches?

Here’s something to keep in mind - even though you’ll be snagging triple rewards points on overseas spends, remember to weigh up that extra value against the fact that you’ll be paying a 3% foreign exchange margin. Want to avoid that cost? Head over to our travel money section to find a travel credit card.

The Mozo community has not yet rated NAB for this credit card.

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 Australia Saver including baggage and Jetstar Starter 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, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, 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 NAB Rewards Program.
  • Redeem points via Webjet to book any flight you want.
  • Bonus points on overseas purchases and purchases made online with Webjet.


  • Purchase Protection

Special offers

  • Receive 30,000 Bonus Points when you spend $1,500 on purchases in the first 60 days.

Value of rewards points

  • Need to spend $33,333 (Visa)

  • Need to spend $25,640 (Visa)

  • Need to spend $20,800 (Visa)

  • Need to spend $318,933 (Visa)

  • Uncapped

  • Never

Details behind our 'value of rewards' calculations

  • 0.75 points per dollar on Visa, uncapped

  • 40000 points buys a $160 credit

  • 19230 points buys a Myer $100 Gift Card

  • 1 points buys 0.5 Velocity Points; 7800 Velocity Points buys a Virgin Australia Sydney-Melbourne flight

  • 1 points buys 0.5 Velocity Points; 119600 Velocity Points buys a Velocity partner Sydney-London flight

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


  • 19.99% p.a.

  • none

  • 0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)

  • yes

  • 21.74% p.a.

  • 44


  • $95.00

  • none

  • none

  • none

  • $15.00

  • 2%, Min $2.50

  • 3.00%

  • $7.00

  • $2.50

  • $0.00

Other financial bits

  • $25.00

  • 2.0


  • 1

  • none

  • Redeem NAB Rewards points via Webjet to book flights with any airline.

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.

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

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