NAB Rewards Platinum Card | Review & Apply Online

NAB Rewards Platinum Card

What do you want this card for?
Save money
Earn points
Card features
balance transfer
purchase rate
annual fee
NAB Rewards Platinum Card
NAB Rewards Platinum Card
60,000 points when you spend $1,000 in 60 days of account opening.
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.
Add to comparison
6 months
0% p.a.
then 21.74%
with a 2% fee
19.99% p.a.

Pros & cons

What's good?

What's not so good?

60,000 points when you spend $1,000 in 60 days of account opening.
0% p.a. for 6 months on balance transfers. (2% balance transfer fee applies). Reverts to cash advance rate.
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.
Seven complimentary insurances when you make an eligible purchase.
Platinum Concierge Service-your own 24 hour, 7 day personal assistant.
Fast 60 second instant approval process.
Enable for Apple Pay and Visa PayWave for a contactless and faster transaction.
After the promotional period, the fallback is the cash advance rate. Which is a high 21.74% p.a.
$195 p.a. annual fee.

*NAB may vary or end this offer at any time.

Disclaimer (2): 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 Platinum CardReviewed by Yvonne Taylor

NAB now has the most comprehensive range of credit card rewards points available in Australia. Added to the existing options of Qantas Frequent Flyer, Velocity and flybuys cards comes the new NAB Rewards card range. Even seasoned points collectors may choose to migrate to the NAB Rewards Platinum Card, with its truly generous first-purchase bonus points and healthy ongoing points earning rate, a comprehensive array of redemption choices that leaves nothing out and all the usual complimentary insurance policies, for a much lower annual fee than the NAB Qantas Rewards Premium Card.

Earn both standard points and bonus points for everyday spending

While those first-purchase bonus points get you off to a flying start, it’s also relatively easy to keep on accumulating points without changing your spending pattern. There are extra points to be earned, on top of the standard rate of one NAB Rewards point per dollar, for shopping at the kinds of places you would be frequenting anyway. Here’s how it works:

  • 1 point per dollar for regular purchases and bill payments, except
  • 2 points per dollar for shopping at major department and hardware stores like David Jones, Myer, Bunnings, Mitre 10 and many more
  • 3 points per dollar when you use your card overseas
  • 3 points per dollar when you shop online with a merchant based outside Australia
  • 3 points per dollar for online purchases with Webjet (excluding bookings with some discount airlines)

Take note that you won’t earn any points for payments to the ATO, and the 3% fee applied to transactions outside Australia will take a bit of the shine off the high overseas earning rate.

Extremely wide range of points redemption options

Since NAB already has dedicated Qantas Frequent Flyer credit cards, there’s no option to convert NAB Rewards points to QFF points. But just about anything else that you might be looking for is available, for travellers, shoppers and entertainment seekers:

  • Convert points to Virgin Australia Velocity points. 3 NAB Rewards points = 1.5 Velocity points (so those 110,000 bonus points would be worth 55,000 Velocity points, more than enough for seven one-way flights between Sydney and Melbourne).
  • Redeem points for Cathay Pacific Asia Miles. 3 NAB Rewards points = 1.0 Asia Mile (110K bonus points = 36,666 Asia Miles, giving you access to Cathay Pacific, British Airways and Qantas flights, and more).
  • Transfer points to Air New Zealand Airpoints Dollars at the rate 3 NAB Rewards points = $0.015 Airpoints Dollars (110K bonus points = $550 in Airpoints Dollars, more than enough for a return flight between Sydney or Melbourne and Auckland).
  • To access other airlines, redeem your points at Webjet.
  • Retail gift cards are available. E.g. a $20 Coles card costs 3,850 points (110K points is worth $570 in gift cards).
  • Movie tickets for unrestricted screening times require 5,420 points. (You and a friend could see ten movies for 110K points.)
  • Exchange points for merchandise in the online rewards catalogue. (E.g. an Apple Watch Series 2 for 110,210 points.)
  • Feeling altruistic? Your 110,000 points are worth almost $720 in charity donations.
  • In need of cash? Your points can be exchanged for a cashback to your NAB credit card or bank account.
  • AFL club memberships and memorabilia are also offered.
  • Points + Pay is available with every redemption.

Seven complimentary insurance policies

Many premium cards give you six complimentary insurance policies, but NAB gives you seven:

  • Overseas travel insurance. Annual multi-trip family cover for trips of up to six months’ duration.
  • Interstate flight insurance. Family cover for delay, cancellation, luggage, and rental vehicle excess waiver, for trips up to 14 days in length.
  • Domestic hotel burglary insurance. Unique to NAB, covering personal goods left in a locked hotel room in Australia.
  • Transport accident insurance. Compensation for serious injury incurred through a public transport accident.
  • Extended warranty insurance. Manufacturer’s Australian warranty on personal and household appliances is doubled in length, up to a maximum of 12 extra months.
  • Purchase protection insurance. Three months cover against theft, loss or accidental damage for new personal items.
  • Price protection insurance. Refunds the price difference if you see your recently-purchased item (bought in a physical store, not online) advertised for sale locally at a substantially lower price.

NAB clearly hopes that this comprehensive cover will see you using your card without hesitation for all your travel and accommodation costs as well as consumer goods purchases, in order to activate the policies.

All the usual Visa benefits

Online shoppers can take advantage of an additional layer of password security with the Verified by Visa program.

And because this is a Visa Premium card, you’ll be able to use Visa Front Line Access to acquire hard-to-get event tickets before they go on general sale.

Add free NAB app and NAB Pay for Android to increase hi-tech functionality

With the NAB app and NAB Pay for Android you can:

  • Use your card account even before the physical card arrives in the mail
  • Tap and pay with your smartphone
  • Use One Touch ID to access your account
  • Turn payWave, overseas transactions and online transactions on and off
  • Block and unblock the card if you temporarily lose it

Unattractive interest rates, shorter interest-free days

While this card is loaded with benefits for anyone willing and able to spend fairly freely, it’s not going to appeal to anyone with existing credit card debt (unless they can repay it within the first 6 months) or potential future long-term debt. Its interest rates – 19.99% p.a. ongoing purchase rate, 21.74% p.a. for cash advances as well as being the balance transfer revert rate – are aimed at cardholders who have at least the intention of paying off their balance every month and avoiding interest altogether.

NAB’s two low rate credit cards are the only ones in its stable to enjoy up to 55 interest-free days each month. The rest – including this one – get only Up to 44 days on purchases. You’ll lose 132 interest-free days each year if you’re transferring from a 55-day card.

A lower-than-expected annual fee

Benefit-laden platinum rewards cards usually come at a price – a high one. But $195 p.a. per year, with no charge for additional cardholders, is not exorbitant when the value of the rewards points and complimentary insurance cover is taken into account. The bonus points alone are potentially worth $570 in the first year (or $350 for more moderate spenders), and if your average earning rate worked out at 1.5 points per dollar you’d need to spend around $25,000 on the card each year – less than $2,100 per month – to redeem a gift card value equivalent to the cost of the annual fee.

A card that delivers choice at a reasonable cost

For those who expect rewards in return for their sizeable card spending but don’t necessarily want to stick with the frequent flyer program of a single airline, the NAB Rewards Platinum Card could be a sensible option. Both domestic and international award flights can be accessed through the variety of airline programs on offer, but this card’s gift card redemptions deliver roughly the same return in dollar value as the flights do. So you can switch between flights and other forms of redemption without feeling that you are sacrificing value.

Either way, you should regularly be able to earn back the annual fee, and more, without changing your spending habits. Once the annual fee is covered, future rewards points and all other benefits are essentially free of charge.

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
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Same as standard
Rewards program
NAB Rewards
Temporary residents


Additional cardholders
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


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

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months2%90% of credit limit21.74% p.a.

Balance transfers to this card

Balance transfer earns rewards
Balance transfer fee payment due
First statement
Balance transfer from personal loan
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

Banks you can't balance transfer from

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

  • NAB Business
  • NAB

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months2%90% of credit limit 21.74% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

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


Annual fee
$195 p.a.
Cash advance fee
whichever is greater, $2.50 or 2%
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

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
60,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
NAB Rewards
Spend required for bonus points
$1,000 in 60 days

Earning points with this card

Frequent flyer points
Overseas earn rate
Same as standard earn rate
Points cap per month
Points cap per year
Points earned on ATO payments
Reward points
1 pt per $1 spent

Additional benefits

Airport lounge access
Complimentary flight voucher
Concierge service

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 any weekly income
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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