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If you’re hooked on the flybuys rewards program – like 10 million other Australians, in more than five million households – your choices of credit card are unfortunately rather limited. It’s basically Coles, Coles, Coles – and NAB. Yes, Coles has three different credit cards offering flybuys rewards points, while NAB, a flybuys partner, has just one, the NAB Flybuys Card. Luckily, if you are clever about where you shop, you can earn points with the NAB card at a fast rate. There’s a useful zero-interest introductory offer on balance transfers to make your decision even easier, and you’ll also qualify for a heap of complimentary benefits.
Coles assumed 100% ownership of flybuys in 2011, when it acquired NAB’s 50% share. Coles and NAB, which remained as a program partner, are the only issuers of flybuys credit cards. Coles supermarkets, where purchases earn one point per dollar (regardless of how you pay, as long as you present your flybuys membership card) are the main source of flybuys points for many consumers.
However, points earning can be supplemented by shopping at other major retailers, including Target, Kmart, Liquorland, First Choice Liquor and Adidas. Other organisations offering flybuys points (in some cases at considerably more than one point per dollar) include Medibank, Etihad Airways, OPSM, AGL, Budget, Coles Express, Kleenheat, flybuys e-shops and several fitness groups (including Weight Watchers from 1st July 2017). So it’s relatively easy to acquire flybuys points on everyday spending.
Using a credit card like the NAB Flybuys Card allows you to double-dip on points when you shop with partner businesses, earning flybuys from them and flybuys from NAB as well. But even when you use your NAB Flybuys Card to shop elsewhere, you will still earn flybuys from NAB.
Earn 1 pt per $1 spent, (almost) everywhere
All normal purchases made with this card earn one point per dollar, even if you shop at Woolworths and Big W. However, your points account can obviously be maximised by shopping at Coles, Target and Kmart, where you will collect one point from the retailer plus one point from NAB for every dollar you spend.
The flybuys points you can earn from the card are capped at 20,000 per month, but if you are churning more than 240,000 per year through your credit card you are probably not going to be worried about missing out on a few flybuys points.
You won’t earn flybuys points on everything you put through your card. Cash advances, the purchase of travellers cheques, account fees, interest charges and gambling transactions are excluded. So are over-the-counter bill payments, and payments to the ATO. (Some credit cards let you earn loyalty points on your tax payments, but this one doesn’t.)
Ways to spend flybuys points
If you directed most of your shopping to flybuys partners, you would earn points at a rate of at least two flybuys per dollar. So $10,000 of purchases would earn you 20,000. Here are the many ways you could use them:
Balance transfer offer: 0% p.a. interest for 6 months months
Zero-interest periods are a good way to start your relationship with a new credit card, provided you adopt a smart strategy. Instead of using the offer as an excuse to spend more than you normally would, ignoring the fact that there must be an inevitable day of reckoning, take advantage of this opportunity to earn a little interest.
The best approach would be to deposit each month (preferably into your mortgage offset account if you have one) a sum equivalent to one-sixth of your balance transfer amount. Your mortgage interest expense will be reduced, and when the introductory offer expires you will have cash on hand to repay your card balance in full.
This will help you to avoid the revert rate – the interest rate you’ll start paying on any uncleared balance transfer after six months – which is the ongoing cash advance interest rate of 21.74% p.a. This rate, and the purchase interest rate of 19.99% p.a., are both at the high end of credit card interest rates, making this card unsuitable for anyone who expects to have frequent or prolonged unpaid balances.
Up to 44 days on purchases interest free each month
Most NAB cards come with Up to 44 days on purchases interest free each month. What this means is that when the monthly billing cycle has ended, you will be given an additional 14 days to pay for the past month’s purchases before they start accruing interest charges. Pay the balance on time and in full, and you need never pay any interest.
However, this is not quite as generous as many other cards offering up to 55 interest-free days each month. That 11-day difference means that your cash must leave your bank deposit or mortgage offset account a total of 132 days earlier each year, when compared with a card offering 55 interest-free days.
Seven complimentary insurance policies
NAB has left nothing out and even added more, when compared with the vast majority of credit cards with complimentary insurance. The seven policies which are built into this card are:
Clearly, NAB wants its card to be your first choice when travelling or shopping, and making you feel secure is an effective way to make that happen.
More benefits: Visa Platinum and NAB Defence
Since this is a Visa Platinum card, there are plenty of built-in benefits courtesy of Visa. These include the Visa Platinum Concierge Service (a virtual personal assistant for travel and entertainment needs), Visa Entertainment (access to exclusive ticket pre-sales offers), Visa Global Customer Assistance Service (worldwide emergency telephone numbers if your card is lost or stolen) and Verified by Visa (a system of passwords and one-time SMS-delivered PINs for extra protection when shopping online).
An extra layer of security is provided by NAB Defence, an account monitoring and fraud investigation service, with a guarantee of 100% reimbursement of any fraudulent transactions which were not your fault.
Save time at the checkout with NAB Pay for Android
If you want to earn your flybuys on the run, your best option would be to install the NAB app and NAB Pay for Android on your smartphone. Your phone then becomes an even easier tap and pay option than your contactless card (which you could leave at home). And the NAB app gives you one-swipe control over many of your card account’s features (such as card blocking, payWave, online and overseas transactions, which you can turn on and off).
Very reasonable $95 p.a. annual fee
For an annual fee of $95 p.a., with no charge for supplementary cardholders, the NAB Flybuys Card justifies its moderate cost many times over, delivering a wide range of complimentary benefits plus flybuys rewards.
If you are like the 24% of Australians who spend more than $2,000 per month on a credit card, you could earn at least 24,000 flybuys points a year, and up to double that amount if you spend with flybuys partners. Those 24,000 points are worth $120 – more than the annual fee – in flybuys dollars as a shopping discount.
The best 'card with benefits’ for serious flybuys collectors
NAB has neatly positioned its flybuys card in the middle of the points earning range, and sweetened the deal with a moderate balance transfer offer, wide-ranging and valuable insurance cover, extra card security and platinum benefits. So, if you want to travel and shop with ease and confidence while collecting flybuys, this could be your card.
Balance Transfer Special Offer
Special promotion balance transfer must be applied for at the point of full card application. Interest free days on purchases do not apply while you have a balance transfer. Minimum monthly repayments must be made by the due date each month. Offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB credit card offer.
^ Balance transfer standard rate – ^ After 6 months, any unpaid balance transfers will attract the standard cash advance rate (currently 21.74%p.a as at 1 June 2017). Interest rates are subject to change and available at nab.com.au. Interest free days on purchases do not apply while you have a balance transfer. Minimum monthly repayments must be made by the due date each month. The one off balance transfer fee of 2% is calculated on the amount transferred and is charged to your NAB credit card account when your balance transfer is processed. Standard balance transfer rate and term may be varied or withdrawn at any time. Not available in conjunction with the Balance transfer Special offer.
1. Interest free days on purchases applies if you pay your account in full by the due date each month. You won’t receive interest free days while you have a balance transfer.
2. To earn points using your NAB flybuys Rewards Card, you must be a member of the flybuys program and have provided your valid membership number to NAB. Points are capped at $20,000 spend per statement period. Standard flybuys terms and conditions apply. Visit flybuys.com.au for details. The flybuys program is operated by Loyalty Pacific Pty Ltd ABN 82 057 931 334.
3. A qualifying purchase is required to get the benefits of the complimentary insurance. Terms, conditions and exclusions of the complimentary insurances are specified in the NAB Card Insurance Policy Information booklet (PDF, 391KB) and in the NAB Purchase Protection Insurance policy information booklet (PDF, 924KB) and may be amended. The complimentary insurances are issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 to NAB. Access to the benefit of cover under the NAB card insurances is provided to eligible NAB cardholders by operation of s48 of the Insurance Contracts Act 1984 (Cth).
Credit Card Terms and Conditions available here. Fees and charges are payable. Approval and credit limit are subject to NAB’s credit assessment criteria. Information, including interest rates and fees are subject to change.Credit cards issued by National Australia Bank Limited. Correct as at 1 June 2017. ©2017 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686.
The card fee is nothing compared to the number of points we have earned with all our monthly purchases. We earned $500 in flybuys points – enough to buy an iPad. It is amazing!
We can use the card for purchases from any shop and we earn points. I love it.
As I am a NAB home loan customer, I am able to get the card with no yearly fees. This is great as the yearly fee is high.
I got a good deal to get 30,000 flybuys points after spending a certain amount for three months in a row. This was easy for our family as we use the card for everyday expenses. My only issue was the points had to be chased up and NAB and flybuys were not communicating well. We have managed to save enough points now for $500 to spend on our holiday this year.
Another issue when we had to apply for this new card was that we were unable to transfer our existing NAB Visa balance or direct debits to the new card, and it did not arrive in time for our end-of-year holiday, even though we signed up three weeks prior.
With this flybuys credit card, I am able to earn ample points which I can use on future flights overseas. I have had many different credit cards before, however none of them have even come close to the amazing NAB flybuys rewards card that I have now. I highly recommend it to anyone who wishes to earn more from the money they spend.
This credit card is a great asset to me as it is very handy and the fees and rates are quite low compared to other cards. It is convenient and helps me gain rewards at almost any place I use it. I love my fly buys points, so to have a card that works with that is great.
I found the administration officers to be more than helpful when I was having difficulties with fraudulent purchases appearing on my statement. I check the statement each month against purchase dockets and I have always found it to be accurate, excluding my previous comment. When I lost my card, they replaced it without difficulty and most promptly.
Flybuys rewards are generous.
I have used this card in excess of 25 years
Interest rates need to be around 10%, not 20%, but otherwise the interest-free period is good as long as you pay off the due amount by the due date. A payment due date of 14 days after the end of the billing period is a bit short, but OK once you get used to it.
MasterCard is accepted anywhere, almost, and the flybuys points are great. You get 1 point per $1, so double the normal number of points.
I have had the flybuys credit card since its release. The collection of flybuys points is good. It is a great way to boost your points, especially if doubled up with purchases from flybuys participants like Coles.
The card is good overall. The main area where it is lacking is in customer service.
The yearly fee has just risen, but all purchases give flybuys points regardless of whether it’s used at a place that gives flybuys or not. I convert them back to cash so the yearly fee is paid for, as well as getting money back, for using it through the rewards.
I always pay the card off each month. If you can afford to pay the card off each month it gives the convenience of a credit card, and when used for all purchases it can pay its own fees and charges if worked the right way.
NAB was very quick to pick up on fraudulent activity and refund the full amount, which is very reassuring.
It’s great to have a card like this if you want to earn flybuys points faster. You can earn wherever you want and whenever you want to — online or in store, in person.
Transactions are simple with no fuss. It’s easy to use without concerns. I would recommend anyone to use this card if they want to earn flybuys faster.
I have had this card for a few years now. I use it for all my shopping, whether it be at the supermarket, veggie shop or Airline Tour checkout. The only limit is some shops need you to spend over $10 to use a card (but this applies to any card). I have also diverted payments for electricity, gas, and anything else you are able to. This way the flybuys points add up fast.
The annual fee is $95, but I have recovered that in points easily in a few weeks. The points can be spent anywhere that accepts flybuys — Coles, Kmart, Officeworks etc.
Recently I went on an overseas trip, using it for the flight (immediately providing me with platinum travel insurance), and for the hotel and all shopping whilst in Japan. So, of course, I racked up the points there too.
All in all, very good.
|Interest rate||Period||Fee||Limit||Revert rate|
|Balance transfers||0% p.a.||6 months||2%||90% of credit limit||21.74% p.a.|
You can't balance transfer to the NAB Flybuys Card at the promotional balance transfer rate from:
|Interest rate||Period||Fee||Limit||Revert rate|
|Balance transfers||0% p.a.||6 months||2%||90% of credit limit||21.74% p.a.|
|Cash advances||1.81%||21.74% p.a.|
Secure Sentinel lost or stolen card service
Valuation based on Secure Sentinel's membership fee spread over 5 years.
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
Guaranteed pricing / price protection insurance
Valuation based on the assumption of making a $100 claim once every 10 years. Extensive conditions apply. There is no retail market for this type of insurance, so no premium saving.
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
Domestic hotel burglary insurance
Valuation based on making a $500 claim once every 5 years. Limited to a maximum claim of $2,500. There is no retail market for this type of insurance, so no premium saving.
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
|Total estimated value||$1,458|
|Net customer value||$1,363|