NAB Velocity Rewards Card

My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
4.99% p.a. on balance transfers for 6 months.
Complimentary purchase protection insurance.
0.5 pts per $1 spent on visa card everyday purchases.
Add to comparison
Velocity Frequent Flyer
Velocity Frequent Flyer
0.5 pts
per $1 spent capped
-

Pros & cons

What's good?

What's not so good?

0.5 pts per $1 spent on visa card everyday purchases.
4.99% p.a. on balance transfers for 6 months.
Up to 44 days on purchases.
Complimentary purchase protection insurance.
Handy payWave technology to make contactless purchases.
After the balance transfer has ended any unpaid balances revert to the 21.74% p.a. cash advance rate.

User reviews

4.2 out of 5.0 based on 12 reviews100% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

It's like using your money twice

Reviewed and recommended by Rene on 21 Aug 2013

I love having the convenience of doing my shopping and earning flights quickly and easily, I have been able to fly between Geraldton and Port Hedland a few times now without having to pay a cent. It’s like being able to use your money twice. Not often you can do that.

Two convenient cards, one low fee

Reviewed and recommended by James on 05 Dec 2016

While two cards isn’t always ideal, it’s easy enough for me to have both in my wallet and use the AmEx when there’s no extra fee. Both support contactless payments, and the low fee with reasonable point rewards makes it a pretty easy card to choose.

NAB also give good customer service, with a simple app and online banking experience. I’ve never had any troubles in around 10 years using the card.

I like Virgin airline points

Reviewed and recommended by Penelope on 27 Jun 2016

I have been able to use this card all around the world without hassle, and was happy when someone noticed unusual transactions and temporarily blocked it. It was easily unblocked as well. I love getting the reward points, which I’m saving up to use for flights for myself, my husband, and our brand new son.

Helped finance my renovations

Reviewed and recommended by Karin on 30 Sep 2016

I have this card to pay off some renovations. I had paid it outright once and then used it again, so I’m now in the process of getting it paid off again.

I like the customer service of NAB and want to keep this card. It would be great if the interest rate was lower.

So easy to obtain

Reviewed and recommended by Ian on 26 Jun 2016

I was invited to apply for a Velocity Rewards card and after completing a very detailed application form and establishing my ID, I was accepted.

As soon as I receive my card I will write another review. As I am now retired, having access to emergency funds will be very reassuring. Since selling a property a few years ago, my wife and I have been debt-free for over three years now.

Velocity points for everyday purchases

Reviewed and recommended by Rochelle on 03 Nov 2016

You have the flexibility of using a credit card without going into debt for it. Plus you have the added bonus of being able to link your flybuys to your card to get more Velocity points to get to your destination even faster. Lots of opportunities to get extra points and actually be able to use them for something useful without going out of your way, all by using your card when you fuel up, do shopping or pay for your power bill.

This is a great card

Reviewed and recommended by Lyn on 04 Jul 2016

Love this card as Velocity points are easy to earn and the card is accepted everywhere. I got it as Virgin is one of the airlines that operates flights to our local airport, so the opportunity to use the points earned was advantageous. Great backup from NAB if there are security issues.

Decent rewards program

Reviewed and recommended by Sarah on 28 Jun 2016

This is a great rewards card. I have a low limit, which ensures I don’t spend too much. I usually use this card to make everyday purchases and do not incur interest. It’s a really smart choice. Also comes with a companion AmEx card for extra points and a Visa too. Would recommend.

Earn points on everyday spending

Reviewed and recommended by Oli on 25 Jul 2016

i love earning points with this card, and using them on the generous points allowance for flights that start from around 7000 points for domestic flights with Virgin. The fees are comparable to other cards, yet i can earn points on flights, shopping, car rental and any time i use my card.

Velocity view

Reviewed and recommended by J on 14 Jul 2015

I originally applied for the card to shop online as I live in a rural area. I bank online and have had no problems with navigating the website and credit/transaction information.

It has been smooth sailing with the card and its services, and I have enjoyed using the Velocity points system.

Show 2 more reviews
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Single
Card tier
Standard
Card type
Visa
Card use
Personal
Credit rating
Any
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
N/A
Minimum income for pensioners
$Same as standard
Pensioners
Rewards program
Velocity Frequent Flyer
Temporary residents
Yes

Cardholders

Additional cardholders
1
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$500
Maximum credit limit
N/A

Repayments

Interest charged from
Purchase date
Interest free period
Up to 44 days on purchases
Minimum repayment
N/A

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers4.99% p.a.6 monthsN/A90% of credit limit21.74% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
90% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the NAB Velocity Rewards Card at the promotional balance transfer rate from:

  • NAB

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers4.99% p.a.6 monthsN/A90% of credit limit 21.74% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.81% 21.74% p.a.
Purchases 1.67% 19.99% p.a.

Fees

Annual fee
$95 p.a.
Cash advance fee
2%
Dishonour fee
$5
Duplicate statement fee
$7
Foreign exchange fee
3%
Late payment fee
$9
Over limit fee
$0
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$4
Overseas emergency card replacement fee
$100
Transaction verification fee
$5

Rewards & points

Cool stuff you can get with your points

Disclaimer: Does not include taxes, fees, or charges. Accurate as of 25th January 2016.

Rewards program basics

First purchase bonus
N/A
Reward points expiry
Never as long as you keep your account active
Rewards program
Velocity Frequent Flyer
Sign up bonus
N/A
Spend required for bonus points
N/A

Earning points with this card

Frequent flyer points
0.5 pts per $1 spent
Overseas earn rate
Same as standard earn rate
Points cap per month
3,000
Points cap per year
36,000
Points earned on ATO payments
N/A
Reward points
0.5 pts per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Benefits

This card comes with benefits worth an estimated $40

ShoppingEstimated value
Purchase protection
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.
$40
Total estimated value$40
Annual fee$95
Net customer value$-55
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Temporary residents are eligible
Age Pension, Disability Pension, Overseas Pension, Veteran's Pension and Widower's Pension are acceptable.
Austudy, Carer's Allowance, Child Support Payments, Family Tax Benefits and Parenting Payments and Foster Care Allowance are acceptable.
Youth Allowance is not acceptable.
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

Similar cards

More cards like this one

This card is listed in these comparisons

as seen in
Compare these cards: