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NAB Velocity Rewards Premium Credit Card

The NAB Velocity Premium credit card combines generous earn rates for Velocity Points with a plethora of premium travel and lifestyle services.

Introductory offer: 4.99% p.a on Balance Transfers for 6 months with $0 balance transfer fee

Offer conditions: Offer not available in conjunction with any other offer. Balance Transfer rate reverts to cash advance rate after 6 months. Offer available to new customers only. Minimum monthly repayments are required. 

The NAB Velocity Premium Credit Card is a linked American Express (for maximum point earning opportunities) and Visa, (for worldwide acceptance), account. So you will hold 2 cards, referred to as “companion cards”, but they’ll be managed on a single account with one monthly statement, one annual fee and a single credit limit covering both cards.

Points earned per $1 spent on purchases are in the mid range, they are capped at $6,000 spend per statement period, earn rates are:

  • Earn 1 Velocity Point per $1.50 spent up to $3,000
  • 1 Velocity Point per $3 from $3,001 to $6,000.
  • Points are capped at $6,000 spend per month.

The Velocity Reward program is both flexible and rich with choices, points can be redeemed for a ever increasing range of goods and services and of course Virgin Flights.

In conjunction with the Velocity Rewards Program the card comes packaged with a premium range of features that include:

  • Up to 44 interest free days on purchases - providing you pay off your balance in full every month including any balance transfer amount.
  • 1 Additional Card Holder - Add an additional card holders for $0
  • Card Security - Verified by Visa to protect your online payments.
  • 7 complimentary insurances including Extended Warranty, Overseas Travel, Interstate Flight Inconvenience and Purchase protection. Full details below the table.
  • Visa payWave - provides the convenience of tap and go quick payments on transactions up to $100.
  • Platinum Concierge Service - your own 24/7 personal assistant.
  • Visa Front Line Access - Access to concert tickets before pre-sales and before they go on sale to the general public
Credit Card Details
Provider NAB
Prestige Level Platinum
Credit Card Type Visa
Instant Approval Yes in 60 seconds
Standard Rates
Purchase Rate 19.99% p.a.
Cash Advance Rate 21.74% p.a.
Interest Charged From Purchase date
Interest Free Period Up to 44 days
Balance Transfer
Balance Transfer Rate 4.99%
Balance Transfer Period 6 months
Balance Transfer Fee 0%
Balance Transfer Processing Time 10 - 14 days
Max. Balance Transfer 90% of credit limit
Revert rate 21.74% p.a.
Benefits
Intro Offer 4.99% p.a on Balance Transfers for 6 months* with $0 balance transfer fee
Offer end date -
Rewards Program Velocity Rewards
Rewards Points Earn 1 Velocity Point per $1.50 spent up to $3,000 and 1 Velocity Point per $3 from $3,001 to $6,000. Points are capped at $6,000 spend per month.
Acceptance Criteria
Age to Apply 18
Min. Income -
Residency Australia
Temporary residents Yes with 457 Visa and $50,000 p.a. income
Min. Credit Limit $6,000
Joint applicants No
Fees & Terms
Min. Monthly Repayment -
Annual Fee $150
Over Limit Fee $0.00
Duplicate Statement fee $7
Late Payment Fee $9
Min. Monthly Repayment % -
Max. Credit Limit -
Cash advance fee 2% of the cash advance amount or minimum fee of $2.50, whichever is greater
Additional card holder fee -
Travel & Insurance
Foreign currency conversion fee 2.5% of transaction value
Overseas atm withdrawal fee $4
Complimentary travel insurance Complimentary Insurances 7 complimentary insurances when you meet eligibility criteria, including Overseas Travel Insurance. Spend at least $500 of your prepaid transportation, accommodation, and/or land tour costs on your NAB VELOCITY REWARDS PREMIUM CARD prior to commencing your trip and you could be covered for travel cancellation, overseas medical expenses, lost luggage or travel

What happens when I click "Go to site"?

  • 1

    Clicking Go to site will direct you to the providers web site

  • 2

    Complete the online application on the providers web site

  • 3

    Once approved the provider will issue your new product, delivery times will vary by provider.