Velocity Rewards NAB Premium Card – Details & Application
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The Velocity Rewards NAB Premium Card is a unique premium credit card that offers card holders great rewards through the Velocity Rewards program. In addition, this credit card offer comes with low annual fees and competitive interest rates.
Understanding the Velocity Rewards NAB Premium Card will be much easier after you have read our overview of this handy credit card. Once you do, you can make the most out of your rewards with targeted spending and points redemption.
The Velocity Rewards NAB Premium Card is a unique credit card that is available to Australian consumers. This card offers an exclusive blend of features. Not only does the Velocity Rewards NAB Premium Card offer a great rewards program, it also comes with low fees and a very competitive annual interest rate.
| Product Name | NAB Velocity Rewards Premium Card | |
|---|---|---|
| Balance Transfer Rate | 4.99% p.a. for 6 months | |
| Interest Rate on Purchases | 19.99% p.a. | |
| Offer end date | 30 June 2013 | |
| Annual Fee | $150 p.a. | |
| Interest Free Period | up to 44 days | |
| Interest Rate on Cash Advances | 21.74% p.a. | |
| Minimum Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|
$5,000 | |
| Max Credit Limit | $50,000 | |
| Minimum Monthly Repayment | 2.5% | |
| Credit Card Type | American Express/Visa | |
| Late Payment Fee | $5 | |
| Complimentary Travel Insurance | Yes | |
| Available to Temporary Residents | No | |
| Joint Application | No |
Details of the Velocity Rewards NAB Premium Card offer
The National Australia Bank is one of the four largest financial institutions in Australia. The Velocity Rewards NAB Premium Card is widely accepted as a premium credit card and consumers who happen to own one of these little beauties can enjoy a wide range of rewards as you’ll learn in this review.
When you make an application for a Velocity Rewards NAB Premium Card you will receive two different cards – the Velocity NAB Gold Visa Card and the Velocity NAB Gold American Express Card. Both cards have a single monthly fee and a single credit card statement. They also have a single annual fee. Additional card holders can also enrol for free.
You can collect Velocity points on these cards – there’s no expiry date for the points and you can redeem them any time. Additional card holders can also enrol without any fees.
Features of the Velocity Rewards NAB Premium Card
- Purchase interest rates of only 19.99% p.a.
- Purchases made using this card are interest free for up to 44 days
- The late payment fee is $5
- Annual card fee is $150
- The cash advance fee is
- The duplicate statement fee is $7
- Receive 17,000 bonus points if you apply by 30 June 2013
You can use the Internet to sign up for a Velocity Rewards NAB Premium Card or visit a local bank branch. With every purchase made using this card, you will be eligible to earn Velocity points. These points can then be redeemed for a range of rewards. There is no expiry date on Velocity points, and you can redeem them at any time.
The Velocity NAB Gold Credit Card Rewards program is unique and offers a wide range of rewards. Any points that you earn from your Velocity NAB Card purchases are automatically credited to your Velocity Rewards Account. These points can be redeemed for a range of Velocity Rewards.
Consumers using the Velocity Rewards NAB Premium Card enjoy a wide range of rewards and security features. For example, when you fly abroad with any Velocity Partner Airline, you can obtain better seats. The Velocity Domestic Airline Partner is Virgin Australia, and the International Airline Partners are Virgin Atlantic, Pacific Blue and Polynesian Blue. Card holders also enjoy a range of special benefits when they need emergency travel services. Card holders can also obtain NAB Gold Overseas Travel Insurance as well as Purchase Protection Insurance.
Airline points are earned automatically with purchases. Customers earn 1.5 point per dollar spent using the American Express Card, and 0.5 points per dollar spent using the Visa card. There is also a $100,000 points cap.
At the moment, NAB offers a special promotional offer of 4.99% p.a. for 6 months interest on all balance transfers. This is the perfect time for you to take charge of your credit card debt and start the next year hopefully debt free.
You can sign up for the Velocity Rewards NAB Premium Card online. With every purchase that you make using this card, you will earn rewards points which you can redeem.
The Velocity Rewards NAB Premium Card offers consumers the best of both worlds: low interest rates and competitive fees, along with a comprehensive rewards program.
Read the NAB Velocity Rewards Premium Card terms and conditions.
| Minimum Age | 18 years of age | |
|---|---|---|
| Available to Temporary Residents | No | |
| Credit Rating Requirement | Good | |
| Min Credit Limit This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure. | $5,000 | |
| Max Credit Limit | $50,000 |
| Annual Fee | $150 p.a. | |
|---|---|---|
| Minimum Repayment | 2.5% | |
| Late Payment Fee | $5 | |
| Over Limit Fee | $0 | |
| Overseas Cash Advance Fee | $1.50 | |
| Overseas Emergency Replacement | $0 | |
| Overseas ATM Balance check | $0 | |
| Overseas ATM Withdrawal | $4 | |
| Gambling Transactions Allowed | No | |
| Additional Cardholder Fee | $0 |
Pros
- A low balance transfer rate of 4.99% for the first 6 months.
Cons
- This card has an interest free period of up to 44 days only. This is low compared with other bank's interest free periods of up to 55 days.
- You can only earn 0.50 Velocity points on Visa card per $1 spent. Which, is much less than the average ratio offered with other cards of 1:1.
Read the NAB Velocity Rewards Premium Card terms and conditions.
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