Rewards Program changes | NAB Rewards - NAB

Your Rewards Program changes explained

From 1 October 2026, we’re making changes to the number of points you will need to redeem rewards. We’ll also be applying a one-off points increase to your points balance, so that your existing points hold a similar value once the changes take effect.

To help you understand what’s changing and what to expect, we’ve provided further information below including answers to common questions. 

What are the changes

The number of points you need to redeem rewards will change. You’ll be able to see the new points needed for each reward when you log in to the NAB app or NAB Internet Banking and visit the Rewards store. Please note, it may take a few days from 1 October 2026 for the changes to be reflected.

We’ve provided a few examples below to illustrate what the changes look like:

Number of points you need to redeem

RewardTodayFrom 1 October 2026
$100 Gift card
Today
20,410
From 1 October 2026
35,000
$10 Cashback
Today
2,500
From 1 October 2026
4,100
1,500 Velocity Points 
Today
3,000
From 1 October 2026
4,500

How the one-off points increase will work 

We want to make sure the points you’ve earned hold a similar value after this change, so we’ll apply a one off points increase to your points balance no later than 30 November 2026. The number of points included in your one-off points increase will depend on the NAB rewards card you hold.

Here’s what you else need to know about the one-off points increase:

  • It will be based on your points balance as at 1 October 2026.
  • We’ll automatically add them, so you don’t need to do anything.
  • It ensures your existing points deliver a similar value.

To help show you how the increase will be applied we’ve included an example below:

  • Jessica has a NAB Rewards Platinum Card with 20,000 points on 1 October 2026
  • She will receive a one-off points increase of +13,200 points 
  • Her new points balance will be 33,200 points so that her points hold a similar value after the change.

When you will receive your additional points

We will process your one-off points increase as soon as we can, and no later than 30 November 2026. 

Frequently asked questions

  • No, the changes to your redemption rates will apply automatically from 1 October 2026.

  • We will ensure bonus points offered before 1 October 2026 continue to provide a similar value to you:

    • Bonus points received before 1 October 2026 will be included as part of your one- off points increase.
    • Bonus points received on or after 1 October 2026 will be increased to ensure you receive a similar value.

  • There are many ways to redeem your points, and number of points varies depending on the reward you choose. For example, a $50 Gift Card uses 10,205 points, while $50 Cashback uses 12,500 points. We’ll adjust your points based on the average change across redemption options, which also considers which options are the most popular.

    If you applied for your NAB rewards card through an offer that included a specific number of Velocity Points when you set up Auto redemption, the points will be adjusted to ensure you still receive the same number of Velocity Points originally offered.

  • If you have zero or a negative points balance, there will be no changes to your balance. You must have a positive points balance on 1 October 2026 for us to apply the one-off points increase

  • Your one-off points increase will be applied to your points balance by 30 November 2026. If you haven’t received it by then, please get in touch with us so we can look into it for you.

  • From 1 October 2026, you can view the new number of points needed for a redemption by logging into the NAB app or NAB Internet Banking and go to Cards, select your NAB Rewards card and then under the card, select Redeem your points. This will open the NAB Rewards store where you can select your preferred redemption option.  Until this date there will be no changes to your current redemption rates.

  • Merchandise and charity redemptions will no longer be available from 1 October 2026, however all other redemption categories will remain the same. To visit the NAB Rewards store, you will need to log in to the NAB app or NAB Internet Banking then go to Cards, select your NAB Rewards card and then under your card, select Redeem your points.

  • For details on all upcoming changes, please read the email or letter we sent you which includes the Variation Notice applicable to your account. You can also find more details and answers to frequently asked questions, by visiting our dedicated credit card updates page. 

  • You only need to contact us if you need help understanding the changes, or to talk about your options. You can also find these changes on our dedicated credit card updates page.  If you have any questions, you can chat with us using NAB Messaging in the NAB app or NAB Internet Banking. We’re here to help.

Important information