The Velocity NAB Standard credit card is a great way to keep your Velocity Points total ticking over. Velocity Rewards is the award winning loyalty program of Virgin Australia, V Australia, Pacific Blue & Polynesian Blue. Use the points you earn on the online shop and choose from an exciting range of rewards including domestic and international flights and a great range of travel, accommodation, entertainment, car hire, and shopping offers. Technically this may be an entry level rewards program, but it punches well above its weight with rewards not found on other entry level cards.

Benefit of the Card’s Best Features?

NAB‘s Velocity Standard credit card offers good earn rates and you’ll love the fact that points aren’t capped and don’t expire! This means you’re not under pressure and worrying about losing your hard-earned points or feeling pushed into buying things you don’t need so you don’t miss out!

As a Velocity NAB cardholder you get 2 cards on the one account – a Visa and an American Express. This means you can enjoy the simplicity of one account and one monthly statement, but benefit from the two cards. You can earn points on both as you do your daily spending and can earn extra anytime you use the Amex version. The earn rate for the cards works out at 1.5 Velocity Rewards points per $2 for purchases with the Amex card and 1 point per $2 on the Visa.

Amex gives you special offers on retail, dining, travel and entertainment and Visa will keep you protected with 24 hour emergency travel assistance as well as offer you the convenience of Visa payWave where no pin or signature is needed on purchases under $100. You can also add an additional cardholder at no extra cost. Security and fraud protection come as standard.

The balance transfer rate and period is highly competitive, especially if you make use of the introductory offer. You could save yourself a packet and get your debt paid down faster. For example, if you have a $1,000 balance on your existing account and you’re currently paying about 20% p.a to service it, just think how much you could save by switching to the Velocity NAB Standard card and paying 4.99% p.a. for 6 months! You’re looking at a very nice amount of money saved for doing very little. What that means is you can put that saved money towards paying your debt down! Interest rates on purchases (20.24% p.a.) are also competitive and the $65 p.a. annual fee is quite low, which is what you’d expect of an entry level no frills card.

Are There Any Drawbacks?

The main difference between this card and the Gold version is that you don’t get any complimentary insurances included like international travel insurance or transport accident insurance, etc. If you’re not a traveller this won’t be much of an issue for you, though the purchase protection and extended warranty are always nice to have.

Who Would be Suited?

This card would suit the higher earning individual who’d like to earn some points on their daily spending or perhaps make some headway on their debt by taking advantage of the cheap balance transfer offer.

Who is Eligible?

To be eligible for the card you need to be over 18, an Australian citizen, have a good credit rating and earn over $50,000.