NAB

Terms and Conditions

1. Minimum redemption amount = 3,000 NAB Rewards Points. 1 Velocity Point will be earned for every 2 NAB Rewards Points transferred. All Velocity Points redemptions with Velocity Frequent Flyer are subject to availability which may be limited and are subject to Velocity Membership Terms & Conditions. The earning and redemption of NAB Rewards Points is subject to the NAB Rewards Program Terms and conditions. To redeem NAB Rewards Points for Velocity Points, individuals must be a Velocity Member. Membership of Velocity is the account holder’s responsibility and is subject to the Velocity Membership Terms & Conditions as amended from time to time. The redemption of NAB Rewards Points will be administered solely by NAB Rewards and can take up to 10 business days to transfer into the Velocity Membership Account. Once NAB Rewards Points have been redeemed for Velocity Points, they are governed by the Velocity Membership Terms & Conditions and cannot be reversed.

©2024 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686.

Applications for credit are subject to National Australia Bank Limited's (NAB) credit approval criteria. Terms and conditions and fees and charges apply. Refer to NAB's website for details. You should consider if the credit card is suitable for you before applying.

*NAB Rewards Platinum Offer
Offer commences on 16 February 2024 and ends 29 November 2024. To be eligible for the up to 80,000 bonus Velocity Points offer (converted from 160,000 NAB Rewards bonus Points), you must be a Velocity Frequent Flyer member, apply for a new personal NAB Rewards Platinum Credit Card before the offer  is withdrawn, have your application approved, provide your Velocity membership number to NAB to enrol in Auto Redemption, spend $1,000 on everyday purchases using your new card within 60 days of opening account and keep your card for over 12 months. You’ll receive an email from NAB after your application has been approved with information on how to provide your Velocity membership number to NAB. Redemption of Velocity Points and the Velocity membership is subject to the Velocity membership Terms and Conditions.

Points will be awarded on a tiered basis – You will be eligible to receive 120,000 NAB Rewards bonus Points when you spend $1,000 on everyday purchases in the first 60 days of opening your account (credited to your NAB Rewards Points balance within 3 months of meeting the spend criteria, and will be automatically redeemed for 60,000 Velocity Points within 10 days thereafter) and 40,000 NAB Rewards bonus Points after you have had your card for over 12 months (credited to your NAB Rewards Points balance within the 13th month and will be automatically redeemed for 20,000 Velocity Points within 10 days thereafter). The name of the cardholder must match the name of the Velocity membership number. Offer limited to one total allocation of 160,000 NAB Rewards bonus Points per Velocity account.

Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purposes. You must provide your Velocity Frequent Flyer membership number to NAB in order to have your NAB Rewards points automatically redeemed for Velocity Points. Each week the NAB Rewards Points that you've earned will be transferred to Velocity Points with 2 NAB Rewards Points = 1 Velocity Point, provided your Velocity Frequently Flyer membership is linked to your account.

Your NAB Rewards Platinum Credit Card must remain open and in good standing, and you must be enrolled in Auto Redemption to receive the Velocity Points.

This offer is not available to existing NAB Rewards Signature or NAB Rewards Platinum Credit Card customers or customers who have had a NAB Rewards Signature or NAB Rewards Platinum Credit Card within 18 months prior to applying for a new NAB Rewards Platinum Credit Card. Offer is not available when closing or transferring from another NAB credit card account or in conjunction with any other NAB credit card offer.

A reduced annual card fee of $95 will be charged when the card is opened and applies for the first 12 months. You will be charged the standard $195 annual card fee in the 13th month of your card account.