Rewards Platinum Card card image

NAB Rewards Platinum Card

Advertiser disclosure
Purchase rate
19.99% p.a.
Balance transfer rate
0% p.a. for 12 months and then 21.74% p.a. (3.00% balance transfer fee)
Annual fees
$195 $95 in the first year
Interest free days on purchases

Mozo editorial review NAB Rewards Platinum Card - last updated: 9 August 2022

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What's hot
  • Earn up to 80,000 bonus points when you spend $1,000 on purchases in the first 60 days + keep the card for over a year
  • Use rewards points to book flights with any airline
  • 0% p.a. balance transfer rate for first 12 months (3.00% balance transfer fee)
What's not
  • $195 annual fee
Mozo snapshot

Want a straightforward rewards card with plenty of redemption options, plus the added benefit of no less than six complimentary insurances? The NAB Rewards Platinum card delivers all this, plus up to 80,000 bonus points on signup (conditions apply) and a 19.99% p.a. variable interest rate. They also have 0% p.a. balance transfer rate (3.00% balance transfer fee) for the first 12 months (and then 21.74% p.a.) if you're keen to transfer and clear some debts. There is also a $195 annual fee.

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Key features

To start off, let’s cover the need-to-know basics: the NAB Rewards Platinum card comes with a 19.99% p.a. variable interest rate and a $195 annual fee, making it pretty affordable as far as premium rewards cards go. The cash advance rate is a little higher at 21.74% p.a. (variable), and you’ll also pay fees for hitting the ATM as well as a foreign exchange margin.

Ok, with that out of the way, here’s what you really want to know about: the rewards. Like the NAB Rewards Classic Card, the flexible rewards program is the star of this plastic.

Points are uncapped and don’t expire, and you’ll earn 1 point for every $1 on regular spends. Not good enough? You can also pick up double points at major department and hardware stores or triple points when you spend through Webjet, or on overseas purchases. And don’t forget you can snag up to 80,000 bonus points (60,000 when $1,000 is spent within 60 days and then 20,000 points in the 13th month). Plus you get $100 off your first year annual fee.

As for redemption options, there’s plenty of variety on offer, from gift cards and retail products, through to charitable donations and flights on any airline through Webjet.

What sets this card apart from its non-platinum counterpart is the six complimentary insurance covers on offer. These include:

  • Interstate flight insurance
  • Domestic hotel burglary insurance
  • Transport accident insurance
  • Extended warranty
  • Purchase protection
  • Price protection

Not to mention there is COVID-19 medical cover available under selected benefits for their travel insurance policy, but T&Cs apply so be sure to read the product disclosure statement.

So whether you’re spending at home or off on an overseas trip, this card has plenty of bonuses to tempt you.

Who is it good for

Because it comes with extra protection for your spending and travel, this platinum plastic could be suited to big spenders and jetsetters who will get plenty of value from the flexible rewards program year after year, in order to justify the annual fee.

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Any catches

For travellers or online shoppers, remember that while you’ll earn triple rewards points on overseas spending, you’ll also be paying a 3% foreign exchange margin that may cancel out some of that extra value.

Rewards program details

Rates and fees information correct as at 17 August 2022. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
What your points get you

Fly Sydney to London return

239,200 points

Fly Sydney to Melbourne one-way

15,600 points

$100 Giftcard

20,410 points

$100 Cash

25,000 points

Points earning

1 point per dollar on Visa, uncapped

Rewards scheme

Points are automatically credited to the NAB Rewards Program.

Redeem points via Webjet to book any flight you want.

Special offers

Receive up to 80,000 Bonus Points. Get 60,000 Points when you spend $1,000 on purchases in the first 60 days, 20,000 Points in the 13th month.

Value of rewards points

Spend $25,000 (Visa)

Spend $20,410 (Visa)

Spend $15,600 (Visa)

Spend $239,200 (Visa)



How do we calculate these points?
How do we calculate the rewards?

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.


Rate and fee details


19.99% p.a.


0% p.a. for 12 months and then 21.74% p.a. (3.00% balance transfer fee)


21.74% p.a.




$95 in the first year




2%, Min $2.50









From 30 June, 2022, some COVID-19 travel insurance cover may be available under selected benefits of the International Travel Insurance section.

Payment options

Apple Pay, Google Pay, Samsung Pay, Garmin, Fitbit

Rewards privileges

Extended Warranty,
Purchase Protection,
International Travel Insurance,
Transit Accident Insurance,
Interstate Flight Inconvenience Insurance,
Rental Vehicle Excess in Australia Insurance

Other benefits

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

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