NAB Rewards Business Signature Card | Review & Apply Online

NAB Rewards Business Signature Card

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rewards program
interest free days
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NAB Rewards Business Signature Card
NAB Rewards Business Signature Card
100,000 points when you spend $4,000 on everyday purchases in 60 days.
Earn triple points when travelling overseas or overseas purchases made here in Australia.
Earn double points on purchases made in major department and hardware stores.
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NAB Rewards
NAB Rewards
44 days
interest free
(up to)
$175
ongoing

Pros & cons

What's good?

What's not so good?

100,000 points when you spend $4,000 on everyday purchases in 60 days.
Earn triple points when travelling overseas or overseas purchases made here in Australia.
Earn double points on purchases made in major department and hardware stores.
Earn 1.25 pts per $1 spent on everyday business purchases.
Fast 60 second instant approval process.
$175 p.a. annual fee.
Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the NAB Rewards Business Signature CardReviewed by Yvonne Taylor

Running your own business is rewarding. Having a business credit card like the NAB Rewards Business Signature Card is not just doubly rewarding. It can be triply rewarding, delivering NAB Rewards points at up to triple the normal rate on selected business purchases, as well as providing substantial bonus points upfront.

Make your high business turnover even more profitable

Your business has to spend money in order to earn it, but you can extract extra mileage from your business expenses by making them earn rewards points, which in turn can be used to reduce your costs. Here’s how it works for this card:

  • 1.25 NAB Rewards points per dollar spent on everyday business purchases, except
  • 2.50 NAB Rewards points per dollar spent at major department and hardware stores (Myer, David Jones, Bunnings, Mitre 10 and more), and
  • 3.75 NAB Rewards points per dollar spent with Webjet, and
  • 3.75 NAB Rewards points per dollar spent on overseas transactions, either while travelling or online

That’s lots of ways to earn lots of points, which can be used to reduce your business expenses (e.g. by exchanging them for office supplies or travel) or to reward employees. More good news: there’s no monthly or annual points cap.

‘Everyday business purchases’ excludes payments to the ATO, cash advances, balance transfers, interest charges and account fees, and purchases of foreign exchange.

Kickstart your NAB Rewards balance with 100,000 bonus points

You won’t need to spend much to see those points start rolling in, big time. Spend just $4,000 using the card in the first 60 days (not such a big target for a business account) to get a 100,000 points boost.

Earn points faster while controlling expenses with multiple cards

You can issue cards on the same account to other business partners (such as your spouse) as well as trusted employees. Each card can have an individual, and different, credit limit. Since you’ll get a monthly statement for each card, and a summary statement for the total account, you can not only control expenses but also quickly transfer the data into your business accounting records.

Additional security comes in the form of complimentary NAB Commercial Cards Unauthorised Transaction Insurance.

Ways to spend NAB Rewards points for the benefit of your business

There’s no shortage of ways to make those points work for your business. You could:

  • Reduce business travel costs by redeeming points for flights and accommodation via webjet.com.au
  • Reduce travel costs by exchanging points for frequent flyer points with Virgin Australia, Air New Zealand, Singapore Airlines and Cathay Pacific
  • Use points to buy office supplies, technology, other office equipment, and staff lunchroom items
  • Convert points into a cashback on your card account or other NAB accounts
  • Swap points for merchandise to use as gifts for your best customers, including AFL gift cards and memberships
  • Boost your business image by using points for a charity donation

If you don’t have quite enough points for your chosen business reward, you can use Points + Pay to cover the balance with cash or with your card (thus earning more points).

Ways to use NAB Rewards points for the benefit of employees

If you want to use points to reward employees (including the business owner) rather than reduce business costs, there are still plenty of options.

  • Holiday travel and accommodation booked through Webjet
  • Holiday flights booked via frequent flyer points as a result of points conversion
  • Gift cards to use at major retailers
  • Movie tickets
  • An extensive range of other entertainment and sporting experiences, Australia-wide
  • Merchandise from an online catalogue

You can also choose to reduce the burden of business travel on your employees and their families, by transferring to them any points accrued from their individual business card expenditure. That is, points could be transferred to an employee’s personal NAB Rewards account.

Additional security for business and employees

Complimentary NAB Commercial Transport Accident Insurance is activated when travel fares are paid using the card. It provides cash compensation for serious injury sustained when travelling on a plane, train, bus or ferry, and has the potential to not only protect the business principal and employees, but also reduce business liability and insurance costs.

Visa concierge service

Business travellers and business entertainment hosts are more likely than the average person to make good use of Visa’s global concierge service. Booking assistance and advice is available for travel, restaurants, entertainment events and cultural, shopping and tourist activities.

Special Visa benefits for business

Just as it does with personal cards, Visa offers benefits to its business cardholders, tailored to meet their special needs. Benefits can vary over time, but could include:

  • Waiver or reduction of some fees associated with car rental
  • Access to booking services for accommodation
  • Special offers and discounts on airport lounge access and traveller assistance
  • Duty-free shopping discounts

Card’s interest rates not a viable alternative to standard bank finance

This is not a low-interest credit card, although its 18.50 percent p.a. purchases interest rate is lower than that of some competing cards. The cash advance interest rate is a high 21.74 percent p.a. To get the best out of it for your business you’ll want to:

  • Make the most of the up to 44 interest-free days, possibly by timing your regular payments to occur close to the beginning of the billing cycle
  • Pay off the purchases balance in full on the due date every month, to avoid interest charges
  • Steer clear of cash advances, to avoid immediate interest charges

Annual fee is substantial but justifiable

The $175 annual fee is quite a big commitment, but one that is easily justified in the first year, where the bonus points alone are worth over $500 in retail gift cards.

In subsequent years you would need to spend around $34,000 using the card (slightly less if there were department store or overseas purchases in the mix) to recover the cost of the annual fee in gift card value.

Check to see if you’re eligible

Most business owners will have no problems with the eligibility hurdles for this card. You need to be:

  • An Australian citizen or permanent resident aged over 18
  • A sole trader, partnership, trustee or company
  • Have an ABN
  • Be registered for GST
  • Have a business turnover of $100,000 or more
  • Able to provide at least 12 months business financial data

Fast online application

When applying, you can upload your financials from any accounting software. Better still, if you use MYOB or Xero you can grant NAB access to your financial reports via a secure login. Both of these methods will result in a speedy decision.

Not the only business rewards card around

Most other card issuers offer at least one kind of business rewards card. Visit our Business Credit Cards page to check out offers from American Express, ANZ and others.

A card to control and reduce your business costs

Being able to issue credit cards to employees, while limiting the amount they can spend and receiving both detailed and summary monthly statements, is a useful management tool. But even if you are a sole trader who needs just one card, you can still receive the same advantages as a company by reducing your business costs through generous rewards points, free insurance and other business-oriented benefits.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

The basics

About this card

Card setup
Single
Card tier
Signature
Card type
Visa
Card use
Business
Credit rating
Any
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$100,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
NAB Rewards
Temporary residents
Yes

Cardholders

Additional cardholders
4
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$5,000
Maximum credit limit
$55,000

Repayments

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

Rates & fees

Ongoing interest rates

MonthlyAnnually
Cash advances 1.81% 21.74% p.a.
Purchases 1.54% 18.50% p.a.

Fees

Annual fee
$175 p.a.
Cash advance fee
whichever is greater, $2.50 or 2%
Dishonour fee
$5
Duplicate statement fee
$7
Foreign exchange fee
3%
Late payment fee
$15
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: Points required accurate as of the 31st March 2018.

Rewards program basics

First purchase bonus
100,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
NAB Rewards
Spend required for bonus points
$4,000 in 60 days

Earning points with this card

Frequent flyer points
1.25 pts per $1 spent
Overseas earn rate
Same as standard earn rate
Points cap per month
20,000
Points cap per year
240,000
Points earned on ATO payments
N/A
Reward points
1.25 pts per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $100,000 per year
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
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.
Joint applications are not allowed
Youth Allowance is not acceptable.
Disclaimer: The minimum criteria 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.

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