Balance Transfer Rate
for 6 months then 21.74%
Max Free Days
- Balance Transfers Available
- Free domestic travel insurance
- Free international travel insurance
- Free supplementary cards
- Purchase protection insurance
- Price guarantee
- Extended warranty
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
No set max
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Balance Transfer Rate
Balance Transfer Rate
for 6 months then 21.74%
of the approved credit limit
Balance Transfer Fee
Foreign Exchange Fee
3% on Visa
Estimated ATM Cost
for AU $300 withdrawal
|3 points for $1 spent||Visa||uncapped||Webjet, overseas purchases|
|2 points for $1 spent||Visa||uncapped||major department and hardware stores|
|1 point for $1 spent||Visa||uncapped||eligible everyday purchases|
- FREE DOMESTIC TRAVEL INSURANCE A qualifying purchase is required.
- FREE INTERNATIONAL TRAVEL INSURANCE A qualifying purchase is required.
- FREE SUPPLEMENTARY CARDS Supplementary cardholder must be over 16 years of age
- PURCHASE PROTECTION INSURANCE Cover lasts for 90 days per year
- PRICE GUARANTEE If you purchase personal goods in Australia and then find the same product advertised later in a printed catalogue at a cheaper price within 21 days of purchase, from a store within 25km of the store where the item was purchased, you can claim back the difference if it is more than $75.
- EXTENDED WARRANTY
- Bonus Points Receive 60,000 NAB Rewards Points if you spend $1000 on everyday purchases within 60 days of account opening.*Offer commenced 12 November 2018. To be eligible for the 60,000 bonus points offer, you must apply for a new NAB Rewards Platinum Card, be approved, and spend $1,000 on everyday purchases within 60 days of opening your account. Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purposes. Points will be credited to your points balance within 3 months of meeting the spend criteria. NAB may vary or end this offer at any time. 1. Interest-free days on purchases applies if you pay your account in full by the due date each month. You won’t receive interest free days on purchases if you have a balance transfer. However, from 30 March 2020 you may still receive the benefit of interest-free days on purchases if you have an outstanding balance transfer, if you pay the ‘interest-free days payment’ specified on your monthly statement in full by the due date each month. For more information visit nab.com.au/btchange. 2. Points are earned and redeemed in accordance with the NAB Rewards Terms and Conditions available at rewards.nab.com.au. These terms describe the purchases not eligible to earn points. You must have an open and active NAB Rewards credit card account to earn points. Everyday purchases exclude transactions NAB decides are wholly or partly for gambling or gaming purposes. 3. Standard Balance Transfer Rate - After 6 months, any unpaid balance transfers will attract the standard cash advance rate (currently 21.74% p.a. as at 12 November 2018). Interest rates are subject to change and available at nab.com.au. Interest free days on purchases do not apply while you have a balance transfer. However, from 30 March 2020 you may still receive the benefit of interest-free days on purchases if you have an outstanding balance transfer, if you pay the ‘interest-free days payment’ specified on your monthly statement in full by the due date each month. For more information visit nab.com.au/btchange. Minimum monthly repayments must be made by the due date each month. The one-off balance transfer fee of 2% is calculated on the amount transferred and is charged to your NAB credit card account when your balance transfer is processed. Standard balance transfer rate and term may be varied or withdrawn at any time. Not available in conjunction with the Balance Transfer Special Offer. 4. A qualifying purchase is required to get the benefits of the complimentary insurance. Terms, conditions and exclusions of the complimentary insurances are specified in the NAB Card Insurance Policy Information booklet (PDF, 391KB) and in the NAB Purchase Protection Insurance policy information booklet (PDF, 924KB) and may be amended. The complimentary insurances are issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 to NAB. 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). 5. This service is provided by Visa Worldwide Pte Ltd or International SOS (Australasia) Pty Ltd. Your concierge is available on 1300 730 213, 24 hours a day, 7 days a week. See the NAB Concierge terms and conditions (PDF, 234KB) for full details. Offer is not available when closing/transferring from another NAB credit card account. This Bonus Points offer is not available to existing customers who have received or are entitled to receive NAB Rewards Bonus Points for a new personal NAB Rewards Credit Card or NAB Home Loan in the twelve months prior to the opening of the NAB Rewards Platinum Card account. Credit card terms and conditions available here. Fees and charges are payable. Approval and credit limit are subject to NAB's credit assessment criteria. Information, including interest rates and fees are subject to change. NAB Rewards Terms and Conditions apply. Correct as at 12 November 2018. ©2020 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686.
Compare and review credit cards with similar features
ANZ Rewards Platinum
Bonus PointsEarn 60,000 bonus Reward Points and your 1st year annual fee waived with your new ANZ Rewards Platinum credit card when you spend $2,500 on eligible purchases in the first 3 months from approval
National Australia Bank, more commonly known as NAB, is one of the big four banks in Australia. NAB is headquartered in Melbourne and has more than 900 locations across the country. NAB has over 30,000 employees who serve over 9 million customers.
NAB customers can reach out to customer support by contacting them via:
- Customer service (phone, email, branch)
- Mobile app
- Online banking
- Live Chat
- Mobile banking staff
NAB offers a wide range of credit cards, as well as home loans, personal loans, savings accounts, term deposits and much more.
The NAB Rewards Platinum Card comes with a moderately high interest rate and annual fee, and a moderately low number of interest-free days. It also has a moderate minimum credit limit.
Cardholders have the ability to earn one NAB Rewards Point per $1 spent on eligible purchases, as well as double and triple points on certain purchases (conditions apply). Points earned can be redeemed for a range of products and experiences at the NAB Rewards Store.
This card comes with a range of complimentary insurances, such as overseas travel insurance and purchase protection insurance, among others. New customers transferring debt from another card can also take advantage of an introductory balance transfer offer.
If you connect to NAB Pay for Android or Apple Pay for iPhone, you can make contactless payments using your smartphone. Security-wise, NAB Defence also monitors transactions to protect against fraudulent activity.
- Rewards program
- Complimentary insurance
- Free additional cardholder
- Moderately high interest rate
- Moderately high annual fee
- International spending fees
Who is it good for?
People looking for a card with a general rewards program may find that this card offers a good variety of rewards-earning potential. Couples or other shared account holders may also benefit from being able to add an additional cardholder with no fee.
Additionally, the NAB Rewards Platinum Card is good for regular travellers and those wanting added protection when making purchases, thanks to its suite of complimentary insurances. However, its high international spending fees mean it’s not particularly suitable for overseas spending.
The introductory balance transfer deal on this card may be an incentive to those wanting to transfer existing debt, though it's important ot keep the balance transfer fee in mind.
And because this card comes with a moderately high interest rate and annual fee, it isn’t especially good for people wanting to minimise unnecessary debt and expenses.
What RateCity says
The NAB Rewards Platinum Card offers a good amount of flexibility in terms of rewards that can be redeemed for earned points. The potential to earn double or triple points on certain purchases is also an added incentive.
The interest rate and annual fee on this card are both moderately high, and although this is typical for a rewards card, it also means debt can quickly be accrued if you don’t pay off your balance in full each month. With this in mind, it’s worth considering whether the rewards-earning potential of this card outweighs the potential for added debt.
The balance transfer deal and allowance for additional cardholders could be valuable to the right person, though it's important to confirm that the card's other features and benefits will also suit your needs before thinking about applying.
To be eligible for the NAB Rewards Platinum Card, you need to be at least 18 years old and meet the serviceability criteria set by the bank. To apply, you can fill in a form online at the bank’s website or visit a NAB branch in person if preferred. When applying, you will need to provide proof of identification, personal details and proof of steady income, such as bank statements and payslips.
National Australia Bank (NAB) was founded in 1893, and since then has grown to employ 30,000 staff at more than 900 locations in Australia, New Zealand and around the world. It is one of Australia’s big four banks, providing over 9 million customers personal finance products like credit cards, bank accounts, personal loans and home loans. Customers can manage their banking needs at branches around Australia, via NAB’s online banking portal or through the NAB mobile app.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A credit card can be a useful financial tool, provided you understand the risks and can meet repayment obligations.
If you’re a credit card first-timer, review your options. Think about what kind of credit card would suit your lifestyle, and compare providers by fees, perks and repayments.
Once you’ve selected a card, it’s time to apply. Credit card applications can generally be completed in store, online or over the phone.
When you apply for a credit card for the first time, you must meet age, residency and income requirements. As proof, you must also provide documentation such as bank account statements.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
Think of credit cards as a short-term loan where you use the bank’s money to buy something up front and then pay for it later. Unlike a debit card which uses your own money to pay, a credit card essentially borrows the bank’s money to fund the purchase. When you apply for a credit card, the bank assesses your income and assigns you a credit limit based on what you can afford to pay back. At the end of each billing cycle, which is usually monthly, the bank will send you a statement showing the minimum amount you have to pay back, including any interest payable on the balance.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.
Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.
Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.