Your NAB Velocity Credit Card is being replaced

The NAB Velocity Credit Card is changing, and we’ll be replacing it with a NAB Rewards Platinum Credit Card.

What else is changing

  • Currently, under your NAB Velocity Credit Card you and your additional cardholder are eligible to earn Velocity Points. Under the NAB Rewards Platinum Credit Card, you and your additional cardholder will be eligible to earn NAB Rewards Points, which will be automatically redeemed for Velocity Points. For more details on how this works, see ‘NAB Rewards Points and auto redemption’ below. 
  • With your NAB Rewards Platinum Credit Cards, your NAB Rewards Points will be uncapped.
  • Your Velocity Points earning rate will change. You currently earn 0.67 Velocity Points per $1 spent for the first $3,000, and 0.33 Velocity Points for the next $3,000 (capped at $6,000 spend per statement). With the NAB Rewards Platinum Card, you’ll earn 1 NAB Rewards Point per $1 spent with no capping. When converting NAB Rewards Points to Velocity Points you will need 2 NAB Rewards Points to receive 1 Velocity Point. You can also earn additional points with Points Booster.

What’s staying the same

  • Your new cards will have the same card number, expiry date, CVV, credit limit and daily transaction limits.
  • The annual card fee and interest rates  remain unchanged.
  • Your credit card terms and conditions remain the same.
  • You’ll still receive up to 44 days interest free on purchases.
  • You will both have the same NAB Credit Card Cover arrangements you have on your account now (if applicable).
  • Any linked accounts – like your transaction or savings account – will stay linked.
  • Any existing direct debits, recurring or automatic payments will continue unless you change them.
  • Your Velocity account remains linked.
  • You will still have access to the NAB Concierge Service 24/7.
  • You’ll continue to have access to the following complimentary insurances:
    • Complimentary Purchase Protection Insurance
    • Extended Warranty Insurance
    • Rental Vehicle excess Insurance in Australia
    • International Travel Insurance
    • Domestic Travel Insurance

For full details of your complimentary insurance cover, please read our NAB Card Insurance Policy Information Booklet dated 1 July 2025.

NAB Rewards Points and auto redemption

  • All rewards points earned on your NAB Rewards Platinum Credit Card will be NAB Rewards Points . There’s no limit to the number of NAB Rewards Points you can earn each month.
  • To ensure you still earn Velocity points, we’ll enrol you in the auto redemption program so that your NAB Rewards points will be automatically converted to Velocity Points  monthly.
  • You’ll earn 1 NAB Rewards Point on everyday purchases, 1.5 NAB Rewards Points at eligible grocery stores, and 2 NAB Rewards Points at Webjet, per $1 spent , which will be auto redeemed for Velocity Points.
  • You’ll no longer be capped as to the number of Velocity Points you can earn in a statement period.
  • Your Velocity Points will no longer be listed on your NAB credit card statement. You’ll receive a new monthly NAB Rewards Automatic Transfer Statement, which will include the total NAB Rewards Points earned and number of Velocity Points automatically transferred to your Velocity account.

Changes to our agreement with you

The following changes will happen 60 days after we send you both the NAB Rewards Platinum Credit Cards, or when you first use the NAB Rewards Platinum Credit Cards, whichever is first:

  1. Your NAB Velocity cards will be deactivated and can no longer be used, and the NAB Velocity Terms & Conditions dated 18 April 2024 will no longer apply.
  2. The rewards terms and conditions applicable to both NAB Rewards Platinum Credit Cards will be the NAB Rewards Terms and Conditions available at nab.com.au/nabrewardstc (PDF, 740KB) and you will be eligible to earn NAB Rewards Points.
  3. We’ll enrol you in auto redemption of the NAB Rewards Points for Velocity Points. You can opt out of the auto redemption of the NAB Rewards Points for Velocity Points at any time by notifying us. The following terms and conditions will apply to your enrolment in auto redemption:
  • 1 Velocity Point will be earned for every 2 NAB Rewards Points redeemed. All Velocity Points redemptions with Velocity are subject to availability and are subject to the Velocity Terms & Conditions. The earning and redemption of NAB Rewards Points is subject to the NAB Rewards Terms and Conditions.
  • To redeem NAB Rewards Points for Velocity Points, individuals must be a Velocity member. The redemption of NAB Rewards Points will be administered solely by NAB Rewards and can take up to 10 business days to transfer into the Velocity membership account. Once NAB Rewards Points have been redeemed for Velocity Points, they are governed by the Velocity Terms & Conditions and cannot be reversed.

Complimentary insurance changes in May 2026

From 15 May 2026 onwards, there will be additional complimentary insurance changes:

  • We’re adding complimentary Mobile Phone insurance , so you’ll be covered against accidental damage and theft, if you pay your monthly mobile phone bill using your NAB credit card. If the monthly payment on your card is missed, your complimentary Mobile Phone insurance cover will be suspended on the first day of the following month. Terms, conditions and exclusions apply. See the Policy for full details at nab.com.au/mobilephoneinsurance.
  • Travel Insurances will be removed so you’ll no longer be eligible for complimentary International, Domestic Travel insurance and Rental Vehicle Excess Insurance in Australia . This means you’ll need to make your own alternative insurance arrangements to be covered on or after 15 May 2026.

There will be no changes to Extended Warranty and Purchase Protection complimentary insurances, and you’ll continue to be covered for this.

We’ll communicate further details of these changes, along with the new Insurance Policy Information Booklet dated 15 May 2026, closer to the time. In the meantime, for details of these insurance changes, please read the summary of changes.

Receiving and using your new NAB Rewards Platinum Card

  • You’ll be notified via SMS when the new cards are being sent. At this time, you will also see the new card displayed in the NAB app and NAB Internet Banking . If either of you use Apple Pay or Google Pay, you’ll receive another SMS when the new card/s can be added to your digital wallet/s.

    Please ensure the new cards are signed when received.

  • You don’t need to do anything, as we’ve set it up so that your NAB Rewards Points are automatically converted to Velocity Points and transferred to your linked Velocity account monthly . This is called auto redemption .

  • Please ensure you and your additional cardholder’s new cards are signed when received.

    The new card is sent activated, which means you can start using the new card once it arrives. Once you receive the new card, you should destroy the existing card by cutting it in half, making sure to cut through the card number, expiry date, microchip, magnetic strip, and security code (CVV).

    The existing card will continue to work for 60 days after the new card arrives, or until you first use your new NAB Rewards Platinum Credit Card (whichever comes first).

  • If you need to change the address where your new card will be delivered, you can update your details using the NAB app or NAB Internet Banking as soon as possible.

  • Your new card will be sent to the address we have on your Profile in the NAB app or NAB Internet Banking. Please ensure your address and contact information are up to date. You can update your details using the NAB app or NAB Internet Banking.

    If you're planning to travel and are concerned you might not receive your new card in time, you can let us know by calling us on 13 22 65, Monday to Friday, 8:00am to 7:00pm (AEST/AEDT), Saturday to Sunday, 9:00am to 6:00pm (AEST/AEDT).

    Your existing card will continue to work for 60 days after the new card arrives or until you first use your new NAB Rewards Platinum Credit Card (whichever happens first).

  • You can change your card’s PIN at any time using the NAB app or NAB Internet Banking or at selected NAB ATMs.

  • All you need to do is start using your new card when it arrives.

    Once we issue you the new card and before you receive it, you’ll see the new card displayed in the NAB app and NAB Internet Banking . If you use Apple Pay or Google Pay, you’ll receive an SMS when the new card can be added to your digital wallet.

    The existing card will continue to work for 60 days after the new card arrives or until you first use your new NAB Rewards Platinum Credit Card (whichever happens first).

  • Your existing NAB Velocity Credit Card will continue to work for 60 days after the new NAB Rewards Platinum Credit Card arrives or until you first use your new NAB Rewards Platinum Credit Card (whichever happens first). 

    If you still have the physical card, you should destroy the card by cutting it in half, making sure you cut through the card number, expiry date, microchip, magnetic strip, and security code (CVV).

  • As you will now be earning NAB Rewards Points, your Velocity Points will no longer be listed on your NAB credit card statement. You’ll receive a new monthly NAB Rewards Automatic Transfer Statement, which will include the total NAB Rewards Points earned and number of Velocity Points automatically transferred to your Velocity account.

    If you have registered for online statements, you’ll have access to your NAB Velocity Credit Card statement for the last seven years.

  • Your existing Velocity Points will not be impacted as part of this change.

  • You’ll earn 1 NAB Rewards Point for every $1 spent on everyday purchases. You can also earn 1.5 NAB Rewards Points at eligible grocery stores and 2 NAB Rewards Points at Webjet per $1 spent.

    For every 2 NAB Rewards Points you earn, you’ll receive 1 Velocity Point.

  • To keep you updated on how many Points you’ve earned, we’ll email you a new monthly NAB Rewards Automatic Transfer Statement, which will include the total NAB Rewards Points and number of Velocity Points automatically transferred to your Velocity account.

    If you need to update your email address you can update your details using the NAB app or NAB Internet Banking.

    You can also check your NAB Rewards 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 in NAB Internet Banking.
    3. Choose your NAB Rewards Card to see your total Points balance displayed under NAB Rewards Points balance.

  • You can view your NAB Rewards Transaction history with the following steps:

    1. Log in to NAB Internet Banking or the NAB app, go to the Cards menu and select your NAB Rewards Card.
    2. Click on Redeem your Points to access the NAB Rewards Store.
    3. Go to My Account (person icon) and select Transaction history.

  • You can turn this option off at any time from the NAB Rewards Store. If you’ve been advised to activate your card, you’ll need to activate before you turn the automatic redemption off. You can then choose to use your NAB Rewards Points to redeem other Rewards or you set up to transfer your NAB Rewards Points automatically to another partner program .

  • Any existing direct debits, recurring payments or automatic payments will continue unless you change them.

  • Any linked accounts – like your savings or cheque account – will stay linked.

  • If you feel that the NAB Rewards Platinum Credit Card is not suitable for your needs, you can chat with us using NAB Messaging in the NAB app or clicking on the message icon on nab.com.au. Alternatively, you can call us on 13 22 65, Monday to Friday, 8:00am to 7:00pm (AEST/AEDT), Saturday to Sunday, 9:00am to 6:00pm (AEST/AEDT).

  • Your new card will have the same credit limit and daily transaction limit.

  • Velocity Points

    To see when Velocity Points expire please refer to Velocity Membership Terms and Conditions (Clause 3.4)

    NAB Rewards Points

    To see when NAB Rewards Points expire please refer to NAB Rewards Terms & Conditions (Clause 12) (PDF, 740KB)

Terms and Conditions

Card Terms and Conditions

Please remember that you and your additional cardholder’s new card continues to be governed by the Personal NAB Credit Card Terms and Conditions available at nab.com.au/cardinfo (being the terms which governed your previous credit card product).