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:
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:
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.
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:
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:
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:
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.
|Cash advances||1.81%||21.74% p.a.|