NAB Velocity Credit Card Details
Take advantage of the special bonus Velocity Points available from NAB
The NAB bank has two Velocity cards on offer – the American Express and the Visa card. Using either of these cards you will collect Velocity points and they can be exchanged for discounts on goods from any of NAB’s shopping partners or you can redeem them for flights, accommodation, car hire, travel or entertainment. A plus for this card is that there is no limit to the number of points you can earn, nor do the points have a used by date.
Additional card holders can be added to either card at no extra cost. The fee of $65 covers both cards and is comparable to other similar cards with the standard of reward on offer with these cards. As with most credit cards, a monthly statement is produced and a monthly payment is required.
Interest Rates, Fees & Charges
| Balance Transfer Rate |  |
4.99% p.a. for 6 months |
|---|---|---|
| Interest Rate on Purchases | |
20.24% p.a. |
| Annual Fee | |
$65 |
| Interest Free Period | |
up to 44 days |
| Cash Advance Rate | |
21.74% p.a. |
| Card Type | |
Standard |
| Minimum Income Requirement | |
$30,000 p.a. |
| Credit Card Type | |
American Express/MasterCard |
| Rewards Program | |
Yes |
Competitive Interest Rate
The interest rate is 20.24% p.a. There is an interest free period of up to 44 days on purchases and another feature is the transfer balance interest rate of 4.99% p.a. for 6 months to pay it off.
Earning Points
Either card can be used and note should be taken that the American Express card does earn higher Velocity points. Not all points of payment accept American Express and that is why it is good having the option of the Visa card.
Convenience And Security
The NAB card includes internet banking service at all times and also telephone banking. NAB’s security service gives peace of mind because of the VerifiedbyVisa system. This service will verify whether or not the retailer you are dealing with is bona fide or not.
The Velocity NAB Credit Card Is Available In A Double-Edition
You can either choose the Velocity NAB Standard Card or the Velocity NAB Gold Card. With either card you can take your Velocity rewards points to another level.
NAB Velocity Credit Card Account Features:
One of the great benefits of having a double credit card pack is to be able to use the cards for optimum rewards while being able to shop worldwide. The American Express branded Velocity card gives you more bang for your buck while the Visa branded version is accepted worldwide.
- The Velocity NAB Credit Card can earn you Velocity Points on your everyday spend1
- Each Velocity NAB card account has 2 cards: a Velocity NAB American Express® Card and a Velocity NAB Visa card
- Available as a Gold card account or Standard card account
- Remember your two cards have different point earning rates. By using your Velocity NAB Gold American Express® Card you will earn maximum Velocity Points
- Add an additional cardholder at no extra cost5
- If you would like a credit card for business purchases, you can apply for the Velocity NAB Business Card
- Get two cards for one with one annual card fee, one monthly statement, one bill.
- Get two cards for one with Visa and American Express in each.
- Your Velocity points will not be capped.
- Enjoy a 4.99% p.a. for 6 months balance transfer rate. Terms apply.
- Get the same deal for a partner/spouse at no extra cost.
You can redeem your Velocity points for a large range of rewards, starting with flights, accommodation, car hire, shopping partners, in the online shop and much more.
Overview Of The NAB Velocity Standard Cards:
- Earn 1.5 Velocity Points per $2 spent on purchases with the American Express card and 1 Velocity Point per $2 spent on purchases with Visa.
- 19.74% p.a. interest rate.
- Get up to 44 interest free days on purchases.
- Annual card fee of $30.
- Credit limit is $500.
Velocity Program Features:
- Velocity is the loyalty program partnered by Virgin Australia Airlines
- Redeem from the online shop and an exciting range of Velocity Rewards with your Velocity Points
- Redeem on any available seat with any of the Velocity Partner Airlines7
- No Membership fee when joining online
With the NAB Velocity Credit Card you can design your own lifestyle and make the most of your ‘hip host’ in the process.
Which Card Is For You?
| Which card is more you? |
Velocity NAB Standard Card |
Velocity NAB Gold Card12 |
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A great way to keep your Velocity Points ticking over with extra features including a free supplementary cardholder. |
Accelerate your Velocity Points and enjoy the extra privileges of a Gold card. Special benefits for Gold cardholders including complimentary NAB Gold Overseas Travel Insurance, and VIP Lost Card Cover. |
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| Rewards Earning speed | ||
| American Express |
1.5 Velocity Points per $2 spent on purchases1 | 2 Velocity Points per $2 spent on purchases1 |
| Visa | 1 Velocity Point per $2 spent on purchases1 | 1 Velocity Point per $2 spent on purchases1 |
| Interest rate2 | 20.24% p.a. | 20.24% p.a. |
| Annual card fee2 | $65 | $150 |
| Interest-free days on purchases8 | up to 44 | up to 44 |
| Minimum credit limit | $500 | $5,000 |
| Balance transfers4 | When you apply for a Velocity NAB Credit Card, you can request to transfer balances from your non-NAB credit or store cards at a rate of 3.99% for up to 6 months. Remember, at the end of the period any unpaid amounts will attract the applicable cash advance interest rate. Have your non-NAB or store card details ready when you apply online. |
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| Velocity Rewards Your Velocity NAB Credit Card makes it easy to earn and redeem Velocity Points. |
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| What is a Velocity Point worth? Find out where your Velocity Points could take you. |
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More features
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| Not a Velocity member You can either join first, for free at Velocity Rewards, or you can apply for your Velocity NAB Credit Card first and supply us with your membership details later.Apply online now for a Velocity NAB Credit Card |
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Read the official terms and conditions
| Minimum Income | $30,000 | Minimum Age | 18 years of age |
| Residency | Permanent Australian Resident | Credit Rating Requirement | Good |
| Min Credit Limit | $500 | Max Credit Limit |
| Annual Fee | $65 | Balance Transfer Fee | |
| Minimum Repayment | 2.5% | Interest Charged From | Purchase Date |
| Late Payment Fee | $5 | Over Limit Fee | $0 |
| Overseas Emergency Replacement | $100 | Overseas ATM Balance check | $0 |
| Overseas ATM Withdrawal | $4 | Foreign Currency Conversion Fee |
| Rewards Points per Dollar | AMEX:0.75 VISA:0.5 Point(s) | Points needed for Syd/Mel Return Flight | 10500 |
| Points needed for $100 Voucher | 10125 |
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