Start here: NAB Rewards — how points are earned, what they can be redeemed for, transfers and expiry

Step 1: What NAB Rewards is and who it suits

You will learn: what the terms cover, when they start to apply, and which cardholders the programme is built for.

The terms explain how you can earn Points using your Rewards Card Account and how you can claim Rewards [1]. You are taken to have agreed to them when you or a Cardholder first use a Card or a Rewards Card Account [1], and the NAB Credit Card Terms and Conditions may also contain provisions about what happens if a rewards programme like NAB Rewards is terminated [1].

NAB promises to act reasonably and fairly towards you, taking into account your and its respective interests, including when considering a request, deciding whether to give consent or exercise a right, setting conditions, or making changes [1]. NAB may terminate NAB Rewards at any time acting reasonably, and where possible will give at least 90 days' prior notice [1]. Points continue to be credited for transactions made before termination if NAB received notice of the transaction within 90 days after the termination date, and Points are available for use for at least three months from the date you are told NAB Rewards is discontinued [1].

Changes follow a published table. The way you earn Points can change at any time without prior notice, although NAB will try to publish details before an unfavourable change takes effect where it can [1]. Changes to the allocation of Points per dollar spent or to the expiry period for Points require at least 30 days' prior written notice, and introducing any fee or charge at least 30 days' written notice [1]. Removing Rewards, adding or removing Reward providers and changing the number of Points required to redeem a Reward can happen without prior notice, and changing the format and frequency of Reward Statements without notice [1].

NAB Rewards is used through a Personal Rewards Card Account or a Business Rewards Card Account [1]. These terms describe no status tiers: the Points allocated per $1.00 depend on your type of Card, with the rate given separately, and they list Rewards on the NAB Rewards Store, without a tier structure [1].

Go deeper: Start here: cards and transfers.

Step 2: How you join and who earns

You will learn: how membership begins, what Points are and are not, and how NAB contacts you.

You earn Points once these terms apply and for as long as your Rewards Card Account is Open and Active [1]. Points and Bonus Points are not property and have no monetary value except to the extent a Reward provides, they cannot be redeemed for cash except as the terms set out, and they can only be redeemed for Rewards under the terms [1].

Cardholders other than you do not earn Points in their own right, but may accumulate Points to your Points Balance [1]. You cannot sell Points, though a Business Rewards Card Account can transfer them [1]. Your Points Balance includes Points awarded for eligible transactions and Bonus Points awarded under special promotions [1].

NAB sends notices about NAB Rewards electronically, including by email, SMS, a message in your Rewards Statement, or through NAB Internet Banking or the NAB app [1]. To contact NAB, Call Us on 13 22 65 for Personal Rewards Card Accounts or 13 10 12 for Business Rewards Card Accounts [1].

Go deeper: NAB Rewards programme hub.

Step 3: How earning works

You will learn: how Points are calculated, which transactions do not earn, and where to track them.

Points are earned for each whole $1.00 of the value of each eligible transaction, including GST, rounded down to the nearest dollar and shown on your Monthly Card Statement [1]. The number of Points allocated per $1.00 depends on the type of Card you have; NAB provides that information in writing with the terms and publishes it on nab.com.au, including the FAQs available on the NAB Rewards Store [1]. Special promotions offered by NAB or a Bonus Points Provider may also earn Bonus Points, on the conditions provided at the time of the promotion [1].

Some transactions do not earn Points: cash advances, including bills paid over the counter at a bank, financial institution or post office and the purchase of travellers cheques; bank fees, charges and interest; for a Personal Rewards Card Account, government-related payments and payments to the Australian Taxation Office; balance transfers, except where a special promotion for balance transfers allows Bonus Points; use of a Card to access linked transaction accounts; purchases of foreign exchange, travellers cheques and money orders; for a Personal Rewards Card Account, transactions NAB decides are wholly or partly for business purposes; transactions where the account is, or is reasonably believed by NAB to be, operated fraudulently, unless you reasonably demonstrate it was not; unauthorised purchases for which you are not liable; purchases made through BPAY; and gambling and gaming [1].

Your Points Balance is also reduced for refunds and reimbursements credited to the same account, chargebacks, unauthorised transactions for which you are not liable, Points incorrectly allocated and fraud [1]. NAB may reduce Points or not award them where an otherwise eligible transaction exceeds the credit limit or is debited against credit funds [1]. Track your balance and any Points due to expire in the next three months on the NAB Rewards Store, or check the monthly Rewards Statement, which also shows Points due to expire in the following month; Points earned may take up to 10 Business Days to appear [1].

Go deeper: earning rate.

Step 4: How to redeem NAB Rewards points

You will learn: what you can claim, who can claim it, and what happens after a request.

The Rewards available and the number of Points required are set out on the NAB Rewards Store, and different Rewards may be available for different Card types [1]. Rewards are subject to availability, substitution or cancellation, and NAB may withdraw, limit, modify or cancel them at any time without prior notice; where possible it will give reasonable notice and a genuine opportunity to redeem before a change that may materially lower the value of Rewards [1]. A return or exchange needs the supplier's approval, and the supplier need not accept a change of mind; after a request you cannot receive a Points credit unless a return is accepted, exchange the Reward for consideration including cash, or replace a Reward lost, stolen or destroyed after delivery, including e-vouchers and gift cards [1]. Physical Rewards are delivered only to an address in Australia and not to a PO Box [1].

Points can be claimed by you when you Call Us, or by you and any person able to access the NAB Rewards Store who is authorised to operate your Rewards Card Account through NAB Internet Banking or NAB Connect using an additional NAB ID issued under that service [1]. You need sufficient Points, you cannot pool Points with another person's Points Balance, selected Rewards allow Points Plus Pay, and your account must not be blocked to activity — for example through arrears, suspension, closure or default [1]. NAB may periodically invite you to set up automatic redemption arrangements [1].

• Loyalty programme rewards: you must be a member of that programme, hold any required minimum number of Points, redeem in any required multiples and only in whole Points, at a rate set by NAB and shown on the NAB Rewards Store; Points normally appear within 14 Business Days and cannot be converted back [1].
• Gift cards and e-vouchers: allow 1 hour for an e-voucher and 10 Business Days for a physical gift card; they cannot be exchanged for cash or travellers cheques, or used to earn Points [1].
• Cashback: a credit to the Rewards Card Account arrives within 10 Business Days, the minimum payment is still due and the credit is non-refundable; a credit to a nominated NAB account also arrives within 10 Business Days and is non-refundable [1].
• Travel Rewards: the travel Rewards Provider's standard terms apply [1].

NAB gives no warranty about any Reward, which normally comes with a warranty from its supplier or manufacturer; NAB's liability is limited as the terms describe, and nothing prevents a consumer from relying on non-excludable warranties under consumer protection laws [1].

Go deeper: transfer ratio and the transfer ratio calculator.

Step 5: Expiry, transfers and keeping your points

You will learn: when Points expire, how transfers work, and how to raise a complaint.

Points must be used within 36 months from the date the transaction earning them was processed to your Rewards Card Account, and unused Points then expire and are forfeited [1]. If you ask NAB to cancel or close your Rewards Card Account, you have up to 60 days from the date of the request to use your Points, and you must Call Us to redeem them [1]. Points re-credited after an approved return must be used within 30 days from the date they are credited to your account [1]. On your death, your executor or administrator, on reasonable supporting documentation of their appointment, may redeem Points within 60 days of notifying NAB of your death, and no other person, including a Cardholder, can redeem once that notice is given [1].

Transfers apply only to Points earned using a Business Rewards Card Account, and are requested by phone to the Points Balance of another Related Body Corporate or of a Cardholder [1]. You provide the recipient's full name and address; both accounts must be Open and Active; the transfer cannot be reversed or cancelled by either party; transferred Points keep their expiry period, which the recipient is told about on their Monthly Card Statement; and you must not require or receive any payment or other value for a transfer [1]. A transfer may have tax implications, and NAB recommends checking with an accountant or tax adviser [1].

Complaints about NAB Rewards, your allocation of Points or your Points Balance start with a call to NAB; if you are not satisfied with the outcome you may contact the Australian Financial Complaints Authority, a free external dispute resolution scheme, on 1800 931 678 [1]. NAB also recommends independent tax advice about the consequences of using the account, NAB Rewards or a Reward [1].

Go deeper: card points expiry and the points value calculator.

Step 6: Your first concrete action

You will learn: five checks to make on your own account today.

1. Look up the current Points rate for your card in the FAQs on the NAB Rewards Store [1].
2. Note the transactions that do not earn Points so you do not count on them [1].
3. Check the Points due to expire in the next three months on the NAB Rewards Store [1].
4. Join the loyalty programme you want to use before you transfer Points, because you must be a member of it [1].
5. Redeem any Points you want to keep before you ask to close the account, because you have up to 60 days from the request [1].

Next: NAB Rewards credit cards for the card side, Westpac Altitude Rewards vs NAB Rewards for a side-by-side reading, and Start here for the rest of the courses.