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Canberra, Australian Capital Territory

  • 5 reviews
  • 4 helpful votes
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NAB have gone downhill baaaad!

1 out of 5, reviewed on Jun 15, 2017

Out of the big four banks, NAB had been the only one I ever had a positive experience with. I usually avoid the big banks, but on occasion there are reasons to use them. At the beginning of this year, I happily went back to NAB for a new credit card because they were offering a few bonus Velocity points and a decent rate. That was a mistake.

I requested secondary cards for my partner, and when my cards arrived in the post, there was a letter telling us to pick the secondary cards up from our branch. When we attended the branch, however, the
y were not available, and we were told to return after three more days.

Returning nine days later (we were on holiday), they were still not there, and as we were returning then to our other residence (in another state), we requested that the cards be delivered to a branch local to us there, and were told that they should be available within a week, and we'd get a call when they arrived.

A month later, we rang to see what had happened, and were told that they had been delivered and were ready for us to pick up, so we went along to the branch. They didn't have them, and apparently had no way of finding out what happened to them. So we went home and called again. The person on the phone was concerned that they may have fallen into the wrong hands, so he proceeded to cancel them and ordered another set.

Later on the same day, I went to buy milk and my card was rejected, with a worrying error message. So I rang again, and found out that the sod had cancelled the primary cards, rather than the secondary cards. So the secondary cards were cancelled also, and a reissue was ordered on all four cards.

The primary cards arrived by post a week later, and two days later we got a phone call to say that the secondary cards were now at the branch. So, after three months of nonsense, we finally had all four cards.

Four months after this, I realised that no Velocity points were being credited to my Velocity account. Calling, I was told that a random Velocity number had been assigned to my account, despite me providing my account number at application. They had to initiate an investigation, and said they would contact me with a result.

A month later, I called to see what was happening, and was told that the error had been corrected, and points would be transferred with my next statement.

At no point in all this nonsense did any member of staff even bother to apologise for these mistakes or the incompetence of their colleagues or systems. In the past, I had found NAB's customer service to be almost as good as the small banks, but clearly that's a thing of the past.

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Grafton

  • 8 reviews
  • 1 question
  • 4 helpful votes
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poor

1 out of 5, reviewed on Sep 18, 2016

Really disappointed in this....we were meant to receive 250,000 points as part of taking a home loan with NAB and we are still waiting for these points after 10 months and numerous phone calls. A complete waste of time considering we will be slogged with the annual fee again soon!

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high annual fees

2 out of 5, reviewed on Aug 22, 2016

Received this as part of my home loan. However, NAB did fail to mention the $95 annual fee that came with it. After talking with reps to have the card linked to my existing Velocity membership with no luck and still not receiving the points that were part of the home loan deal, I am currently looking at canceling the card.
It would be good for an individual who would acquire enough points throughout the year to cover the annual fee, otherwise it would be beneficial to go elsewhere with a lower annual rate. The points also take a long time to accrue.

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Geelong, VIC

  • 7 reviews
  • 9 comments
  • 38 helpful votes
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$95 for what ???

1 out of 5, reviewed on Jun 28, 2015

I am a little perplexed at this card. I have had it for a few years and have enjoyed the benefits from it. However this year the yearly membership fee has increased from $65 to $95 with no increase in service or program benefits.

Not only have the yearly fees increased 68% but there is also now an additional surcharge when using Paypal (Aust).

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Bell, NSW, NSW

  • 47 reviews
  • 3 answers
  • 34 helpful votes
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Credit Card Review

4 out of 5, reviewed on Feb 02, 2014

It's a good card for earning Velocity points on. A way to make it more value for money would be to spend so many thousand dollars a year and get the annual fee waved. I got the card when there was a promotion for 10k bonus points which will help out the balance a bit. 2 cards however the shops I go to AMEX acceptance is quite high (85% or so of the time). I am very happy with this card, would recommend it.

+ Bonus points for sigining up

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Jumping through hoops

1 out of 5, reviewed on Jun 17, 2013

I've spent the last three weeks trying to get one of these NAB Velocity cards but they keep putting-up so many road-blocks! I'm not sure why - I have no mortgage, no loans and I'm a director of an Australian company? So I've decided to stay with my Westpac Velocity Card that I've had for 11 years and upgrade it to "Black" instead, it's just easier.

+ Velocity

- Too many hoops to jump through to get one

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  • 251 reviews
  • 85 helpful votes
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OK

3 out of 5, reviewed on Oct 12, 2009

not a bad system. you get both a visa and an amex card and they link to the one statement. points earnt are part of the virgin velocity program. annual fee is quite high - probably due to getting two cards with one account. service from nab was excellent when i had a problem. card has a reduced interest program for balance transfers - a good way to reduce the interest you are paying on an exsiting cc debt

+ comes with both a amex card and a visa card. part of the virgin velocity points program

- amex not accepted many places. high annual fee. takes ages to earn rewards

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  • 116 reviews
  • 1 comment
  • 30 helpful votes
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OK

3 out of 5, reviewed on May 26, 2009

We got this card as it was part of our package when we got our home loan through the NAB but I am considering returning to our CBA mastercard as the rewards have a much better return. If you do earn enough with the NAB credit card, there are some really good rewards to chose from.

+ The NAB are pretty easy to deal with and I love having a pin number for my card.

- It takes ages to accrue enough points to get anything decent. We put about $2500 onto our card each month and have only just earned a $100 card for Coles. Not one of the better cards as far as getting a return for your points goes.

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  • 7 reviews
  • 3 helpful votes
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Good

4 out of 5, reviewed on Dec 18, 2008

Earning Velocity points is the major attraction of having this credit card, as you can spend your points on a lot of stuff, not just Virgin Blue flights.
I am already with NAB, so paying off my debts is easy and quick.
I enjoy using this card, until I have to pay the annual fee, when I probably will cancel it.

+ The ability to earn points to spend on flights. I joined when they had a special 10,000 points reward and enjoy watching my points accumulate.

- High interest rates when paying late, the annual fee and being charged for you spend over your limit.

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  • 16 reviews
  • 28 helpful votes
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OK

3 out of 5, reviewed on Jan 20, 2008

I have had my Velocity card for over a year now and have enjoyed the use of it. When I applied it came with a bonus 15000 points which I used to travel to Melbourne and Adelaide. I have found now though, I am only earning about 80 points per month. NAB service is quite good I have never had a problem with this bank.

+ Earn Velocity Points

- Not earning many points

1 person found this helpful, do you? Yes

  • 12 reviews
  • 4 comments
  • 2 answers
  • 53 helpful votes
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OK

3 out of 5, reviewed on Jan 20, 2008

Was easy to sign up on the internet and to cancel the card all i had to do was go into the local branch. It gave a good boost to my velocity points, i was flying a bit at the time so i would book flights with the card and that way i was getting points for paying with the card and points for flying virgin!

+ No annual fee for 1st 12 months so I signed up, used it for 12 months collected velocity points then cancelled it before paying a fee and went to a card with a better rewards program.

- Takes a while to accumulate points but so do most of them!

1 person found this helpful, do you? Yes

  • 2 reviews
  • 3 helpful votes
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Terrible

1 out of 5, reviewed on Jun 17, 2007

Overall this is a good credit card, but if you are getting it for the reward points for virgin blue don't bother. The card gets you all the points when you spend, but when you go to book your flights you end up paying a fortune in taxes and quite frankly I believe the whole card, points, rewards thing is a waste of time and a bit of a scam. Good credit card, Bad partnership with Virgin Blue.

+ Reward Points

- Annual Fee. You may as well save it, ditch the card and put it towards paying full price for a flight.

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  • 3 reviews
  • 7 helpful votes
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OK

3 out of 5, reviewed on Jun 11, 2007

I'll be upfront, the only reason I got this card was for the Velocity Reward program which is a good one. Points are easily earned and can be redeemed for flights or products and services. Unfortunately that's about all I can say about it.
Whenever there is a problem on my statement I have to deal with NAB and their service isn't the best - on hold for long periods then get given conflicting information from different consultants. If it wasn't for the Reward program I'd rate this card a two.

+ Velocity points earned

- Sadly typical sub standard NAB service

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Brisbane, QLD

  • 20 reviews
  • 2 helpful votes
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Good

4 out of 5, reviewed on Jun 09, 2007

Best credit card on the market, as it contains a loyalty program called Velocity, which is partnered with Virgin Airlines. With the rewards points, you can redeem it on Virgin flights around Australia.
You can also use your points on electrical products, giftcards, etc...
There is no annual card fee for the first 12 months, after that it's $65.
For every $2 you spend on purchases, you are credited with 1 Velocity point.
The minimum credit limit you can have is $500, which helps to curb overspending.
A great card with super rewards.

+ Using the rewards points for flights

- Paying off the debts

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