A NEW WAY TO RECEIVE VELOCITY POINTS

We’re discontinuing the NAB Velocity Rewards Card and will be replacing yours with a NAB Rewards Classic Card with no change to your annual fee.1 Your new card will continue to let you receive Velocity Points.

INTRODUCING NAB REWARDS

Get ready for even more chances to receive Velocity Points. With access to the NAB Rewards program, you can earn uncapped NAB Rewards Points for everyday purchases,2 and double and triple points with our Points Booster program.3

NAB Rewards Points per $1

Earn 0.75 NAB Rewards Points for every $1 you spend on everyday purchases.

Earn double points

Earn double points on purchases in major department and hardware stores such as Myer, David Jones, Kmart, Bunnings and more.

Earn triple points

Earn triple points when making purchases overseas, or on overseas purchases made here in Australia.

HOW DO I RECEIVE VELOCITY POINTS?

Once a month, we’ll automatically transfer the NAB Rewards Points you’ve earned to Velocity Points and apply them to your Velocity account. You’ll receive 1 Velocity Point for every 2 NAB Rewards Points.4

We recognise the conversion rate to Velocity Points may not reflect your previous rewards earning. However, you can take advantage of Points Booster and uncapped points.

To kick start your new way of earning Velocity Points, you’ll receive a 15% Velocity Points bonus for three automatic transfers. This won’t apply to your first automatic transfer, but for the next three automatic transfers when you receive Velocity Points.5

What’s changing?

  • You’ll start earning NAB Rewards Points for every dollar you spend on everyday purchases once we issue your new card(s).
  • Your points earning rate will change, your points will no longer be capped and you’ll be able to earn bonus NAB Rewards Points when shopping at certain stores.
  • Your NAB Rewards Points will be automatically transferred to Velocity Points and applied to your Velocity account once a month.
  • Your Velocity Points will no longer be shown on your credit card statement and you will receive a monthly NAB Rewards Points statement instead.

What’s staying the same?

  • Your new card(s) will have the same card number, expiry date and Card Verification Value (CVV).
  • Your annual card fee and interest rates remain the same.6
  • Up to 44 days interest free on purchases.7
  • Any existing direct debits or automatic payments will be transferred to your new card.
  • Any linked accounts – like your savings or cheque account – will stay linked.
  • Your card will have complimentary Purchase Protection Insurance.8
  • Any NAB Credit Card Cover arrangements you have on your account will remain.9

Want to learn more?

Receiving your new NAB Rewards Classic Card

Updating your address details

If you need to change the address where your new card(s) will be delivered, just call our dedicated team on 13 37 68 from 8am-7pm Monday-Friday, or 9am-6pm Saturday-Sunday (AEST/AEDT). You can also update your details using the NAB app10 or via NAB Internet Banking.

If you're not around to receive your card

If you or any additional cardholder are away for an extended period, just call our dedicated team on 13 37 68 to chat about your options.

Getting a new PIN

If you need a new PIN, we'll provide you with instructions on how to set your PIN when you receive your new NAB Rewards Classic Card.

Using your NAB Rewards Classic Card

The change will happen automatically, so just start using your new card when it arrives.11 If you feel that the NAB Rewards Classic Card is not suitable for your needs, please contact us on 13 37 68 to discuss other options.

Using your old NAB Velocity Rewards Card

Primary cardholder

Your existing NAB Velocity Rewards Card will work for 60 days after your new NAB Rewards Classic Card arrives, or until you use your new card in-store – whichever happens first.

Additional cardholder

Any additional cardholder’s existing card will still work for 60 days after their new card arrives, unless they use their new card in-store or their NAB Velocity Rewards Card expires – whichever happens first.

During the 60-day period, any eligible purchases made on your or any additional cardholder’s NAB Velocity Rewards Card will earn NAB Rewards Points. When you and any additional cardholder receive your new NAB Rewards Classic Card(s), we recommend that you destroy your NAB Velocity Rewards Card(s) by cutting through the strip and the chip.

Existing direct debits, automatic payments and transfers

Any existing direct debits or automatic payments you have set up will continue on the primary cardholder’s account. Any additional cardholder can set up direct debits or automatic payments on their new card once they receive it.

Your annual card fee and monthly statement payment dates

  • There's no change to the date your annual card fee is charged.
  • There’s no change to your monthly repayment due date.

Accessing your historical NAB Velocity Rewards Card statements

You'll receive a final account statement for your NAB Velocity Rewards Card account, in line with your existing statement cycle.

Any statements from your NAB Velocity Rewards Card will remain available in NAB Internet Banking and can be accessed, by selecting Accounts from the menu bar, then ‘Statements’. You can also view the last two years of statements in the NAB app by selecting Accounts, selecting your NAB Rewards Classic Card and then selecting ‘Statements’.

Viewing your new transactions

To view transactions, simply select Account summary under your new NAB Rewards Classic Card account number in the NAB app or NAB Internet Banking.

All your NAB Velocity Rewards Card and NAB Rewards Classic Card transactions will be listed up to the most current statement issued.

If you need more information, call our dedicated team on 13 37 68.

Rewards Points

To keep you updated on how many points you’ve earned, we’ll regularly email you a NAB Rewards Points statement. If you haven’t already provided us with your email address you can do so in the NAB app or via NAB Internet Banking.

You can also check your points balance anytime by following these steps:

  1. Log into the NAB app or NAB Internet Banking.
  2. Select Cards in the NAB app or My cards in NAB Internet Banking.
  3. Choose your NAB Rewards Card to see your total points balance displayed under My NAB Rewards Points.

Setting up your new card

Ways to pay with your smartphone or wearable

You can use many payment methods to make purchases, including with a smartphone or wearable device. Visit ways to bank to learn more.

Credit card controls

Choose to switch on or off the ability to make contactless payments, ATM cash advances, or online and overseas transactions. As the primary cardholder, you can do this easily in the NAB app or via NAB Internet Banking.

NAB Alerts

If you’ve set up NAB Alerts for payment reminders or balance updates, they’ll continue onto your new NAB Rewards Classic Card. Any additional cardholder will now also be able to set up NAB Alerts, which can be set up in NAB Internet Banking under the Settings/Mailbox heading.

Opting out of the Velocity Points automatic transfer

If you’d prefer to use your NAB Rewards Points for a range of other rewards from the NAB Rewards Store, you can opt out of the automatic transfer once your new card is issued. To opt out, visit the NAB Rewards Store or call us on 13 22 65 – we’re available weekdays 8am-8pm AEST/AEDT.

Important Information

1You were selected for the NAB Rewards Classic Card because your credit limit is $500 or higher. If you lower (or have lowered) your credit limit to below $500 before your NAB Rewards Classic Card is issued to you, then you may not be eligible for this new NAB Rewards Classic Card. Please call 13 37 68 to discuss.

2Earning Points:

Points are earned and redeemed in accordance with the NAB Rewards Terms and Conditions available at nab.com.au/cardinfo. These terms describe the purchases that are not eligible to earn points. You must have an active and open NAB Rewards credit card account to earn points. Everyday purchases exclude any transactions that NAB decides are wholly or partly for gambling purposes. NAB Rewards Bonus Points Special Offers are not available when closing/transferring from another NAB credit card account, or in conjunction with any other NAB credit card offer. Check rewards.nab.com.au for more details.

3Points Booster

This is how Points Booster works for your NAB Rewards Classic Card:

  • Double points 0.75 NAB Rewards Points + 0.75 additional NAB Rewards Points (bonus point):
    On purchases made at major department and hardware stores (in-store and online): Myer, David Jones, Kmart, Target, Big W, Bunnings, Mitre 10, Home Timber and Hardware, Stratco and Total Tools.
  • Triple points 0.75 NAB Rewards Points + 1.5 additional NAB Rewards Points (bonus points):
    Overseas purchases – purchases (in-store and online) where the merchant, financial institution or entity processing the transaction is located outside Australia. International transaction fees continue to apply.
    Webjet – Purchases made online with Webjet via NAB Rewards Store or on webjet.com.au. Webjet Booking Terms and Conditions apply.

Points Booster is subject to the NAB Rewards Terms and Conditions available at nab.com.au/cardinfo. Only eligible transactions under those terms and conditions earn points and bonus points. Points are credited to your points balance after the eligible transaction is credited to your NAB Rewards credit card account: for standard points within 10 business days of processing and for bonus points within three business days of the standard points being processed. Details are correct as at 31 July 2020 and are subject to change by NAB.

4Automatic Velocity Points Transfer Terms and Conditions:

These terms operate and are to be read in conjunction with the NAB Rewards Terms and Conditions.

When Velocity Points are credited to your Velocity account:

  • If an automatic transfer applies to your NAB Rewards Card Account and you’re a current member of the Velocity Frequent Flyer program, NAB Rewards Points earned in an automatic transfer statement period will be automatically transferred to Velocity Points and applied to your Velocity account on the third Wednesday of each month, at the applicable conversion rate. You’ll receive a monthly NAB Rewards Automatic Transfer Statement. Note that this timing differs from your current credit card statement. Velocity Points may take up to 10 business days to be credited to your Velocity account.
  • The use of Velocity Points is subject to the Velocity Frequent Flyer membership Terms and Conditions, available at velocityfrequentflyer.com.

When Velocity Points are not credited to your Velocity account:

  • If you’re no longer a member of the Velocity Frequent Flyer program, your NAB Rewards Points won’t be transferred to Velocity Points.
  • NAB Rewards Points will only be transferred to Velocity Points at the specified conversion rate for your NAB Rewards Credit Card. You must have the minimum amount of NAB Rewards Points (currently 2 for 1 as at 31 July 2020) before they will be transferred to Velocity Points.

5Velocity Points bonus:

Available to NAB Rewards customers who have their NAB Rewards Points automatically transferred once a month to their Velocity account. The 15% bonus Velocity Points are calculated on the total number of base Velocity Points automatically transferred to the primary cardholder’s Velocity account for each of the 2nd, 3rd and 4th automatic transfers completed monthly between 1 August 2020 and 30 June 2021. If you choose to opt out of automatic transfers of NAB Rewards Points to be converted to Velocity Points, the bonus Points will be forfeited. If you hold multiple NAB Rewards Cards, the offer is only available once on one card. Bonus Points awarded will be rounded to the nearest whole Point. Standard conversion rate is 1 Velocity Point for every 2 NAB Rewards Points. A minimum of 2 NAB Reward Points is required for an automatic transfer, and then additional multiples of 2 NAB Reward Points. Velocity Points will be available in your Velocity account in accordance with NAB’s standard points transfer timeframes. Points are earned and redeemed in accordance with the NAB Rewards Terms and Conditions, available at nab.com.au/cardinfo. Once NAB Rewards Points have been transferred, they are governed by the Velocity membership Terms and Conditions and cannot be reversed. Velocity membership Terms and Conditions apply, available at velocityfrequentflyer.com.

6Annual card fee and interest rates:

The same purchase interest rate and cash advance interest rate will apply to the NAB Rewards Classic Card as that which applied to your NAB Velocity Rewards Card. Information, including interest rates and annual card fee are subject to change and available at nab.com.au. The annual card fee for the NAB Rewards Classic Card usually costs $95 p.a. Correct as at 31 July 2020.

7Interest free days on purchases:

Interest free days on purchases if you pay the closing balance in full by the due date each month. If you have an outstanding balance transfer, you will be able to receive interest free days on purchases if you pay the ‘interest free days payment’ in full by the due date each month.

8Purchase Protection Insurance:

AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 has issued an insurance group policy to National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB) which allows eligible NAB account holders and cardholders to claim under it as third party beneficiaries. Access to the benefit of cover under the NAB card insurances is provided to eligible NAB cardholders by operation of s48 of the Insurance Contracts Act 1984 (Cth). Any advice on insurance is general advice only and not based on any consideration of your objectives, financial situation or needs. You must check whether or not it is appropriate, in light of your own circumstances, to act on this advice. The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the NAB Purchase Protection Insurance Policy Information Booklet (PDF, 280KB) which may be amended from time to time. NAB does not guarantee this insurance.

9NAB Credit Card Cover:

MLC Limited ABN 90 000 000 402, AFSL 230694 is the insurer and issuer of NAB Credit Card Cover which has been branded and distributed by National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB). MLC Limited may pay benefits to NAB and its related bodies corporate for the distribution of this product. This insurance is not a deposit with, a liability of, or guaranteed by NAB. MLC Limited is part of the Nippon Life Insurance Group and not a part of the NAB Group of Companies. Any financial advice in this notice is general only and has not been prepared having regard to your personal circumstances. You should consider your personal circumstances before acting on any advice in this notice. You should obtain a copy of the NAB Credit Card Cover Product Disclosure Statement & Policy Document (PDF, 470KB) and consider it before making a decision whether to acquire this insurance. The PDS also contains full details of the cover provided by this insurance, including conditions, exclusions and important definitions. You should read it carefully. NAB recommends you obtain financial advice specific to your situation before making any financial investment or insurance decision.

10NAB app:

NAB recommends you consider the Internet Banking terms and conditions document before making any decisions regarding this product. This product is issued by National Australia Bank Limited. The NAB Mobile Banking app is compatible with Android and iOS, minimum platform requirements apply. Apple, iPhone, iPad, Touch ID, Face ID and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google and the Google Play logo are registered trademarks of Google LLC. Android is a trademark of Google LLC. IOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license. Selecting our optional Quick Balances feature may disable your SMS account balance notifications if you currently receive these.

11Previously earned Velocity Points:

Any Velocity Points earned before your new card is issued will be transferred to your Velocity account.

Card Terms and Conditions:
Please remember that your new card continues to be governed by the Terms and Conditions of your previous credit card product, these are available at nab.com.au/cardinfo.

Credit cards issued by National Australia Bank Limited.

We're here to help

Talk to our specialist team

Monday to Friday 8am to 7pm
Saturday to Sunday 9am to 6pm (AEST/AEDT)