125,000 Qantas Points and reduced first-year annual card fee with the NAB Qantas Rewards Signature (Point Hacks)

[Daver6]

@Daver6 , are you sure about that? T&Cs indicate I should get full 120k w/in 60 days after spend.

tbh, when I first applied, the staggered 100k pts (and then extra if I stuck around one yr) was what I was expecting - and I'd ditch before then - but the fine print makes it look even better.


View attachment 251932

Sorry, I must have been thinking of a different offer. This is what I was thinking of

 

[Lynda2475]

I got this card in April 2021, as there was no annual fee in first year it was an easy 100k points.

I meant to cancel in March, but there was a lot going on and I forgot so it renewed in April and I only noticed when the 25k bonus points hit QFF on 1st May. At that point I stopped using the card and once the points for May spend had posted on 1st June, I cancelled the card.

Much to my surprise NAB refunded $362 of the $395 annual fee, meaing those 25k bonus points cost $33, not a bad earn rate.

So depending on what else is on offer, it may be worth others also waiting for the renewal to go through, and then cancel after the bonus points post as most of the annual fee will then be refunded.

 

[Ktan89]

Do you guys know if the $3,000 spend within 60 days includes spend from the supplementary card too?

 

[NoName]

I got this card in April 2021, as there was no annual fee in first year it was an easy 100k points.

I meant to cancel in March, but there was a lot going on and I forgot so it renewed in April and I only noticed when the 25k bonus points hit QFF on 1st May. At that point I stopped using the card and once the points for May spend had posted on 1st June, I cancelled the card.

Much to my surprise NAB refunded $362 of the $395 annual fee, meaing those 25k bonus points cost $33, not a bad earn rate.

So depending on what else is on offer, it may be worth others also waiting for the renewal to go through, and then cancel after the bonus points post as most of the annual fee will then be refunded.

My experience with NAB has been that they are willing to refund the annual fee so I’m not surprised you got most back. The past 3 times I have held a NAB card I have cancelled immediately the bonus points hit and each time have receive either a full or pro-rated refund.

 

[bullerdude]

Signed up for the 120k bonus points offer associated with the card (need to be a customer), met spend requirements and points already depositied.

That a big change from previous cards i've had with NAB!

 

[aleaf]

Apologies - I know I just saw this asked somewhere here but can't find it now.

- Does annual fee count towards minimum spend? And if so, any impact if that annual fee is then partially refunded (pro-rated due to early acct closure)?

- I suppose the follow-on question to that is how a refund due to returning a purchase could impact the min spend requirement. I'm an indecisive shopper, notorious for buying then returning items. Could a return (genuine, not trying to game the system) impact those bonus points awarded?

Just want to make sure I don't shoot myself in the foot by not paying attention to the details here.

 

[Daver6]

Apologies - I know I just saw this asked somewhere here but can't find it now.

- Does annual fee count towards minimum spend? And if so, any impact if that annual fee is then partially refunded (pro-rated due to early acct closure)?

- I suppose the follow-on question to that is how a refund due to returning a purchase could impact the min spend requirement. I'm an indecisive shopper, notorious for buying then returning items. Could a return (genuine, not trying to game the system) impact those bonus points awarded?

Just want to make sure I don't shoot myself in the foot by not paying attention to the details here.

Annual fee does not count towards minimum spend.

 

[aleaf]

Thanks @Daver6 good to know. Bummer though - I sometimes have to scramble to meet my min spend so this means will need to be that much more creative.

Do you have insights into other question re possible refunds?

 

[Daver6]

Thanks @Daver6 good to know. Bummer though - I sometimes have to scramble to meet my min spend so this means will need to be that much more creative.

Do you have insights into other question re possible refunds?

I don't really know. Regarding meeting minimum spend, I saw this article last week which might be of help to you Ideas to meet a minimum spend target on a credit card - Point Hacks

 

[aleaf]

Some good ideas there and definitely hits the spot in terms of trying to hit the spend. Thanks @Daver6

 

[MooTime]

 

[Aus ATC]

A question regarding annual fee refunds when cancelling the card. How are these processed? Do NAB send a cheque, or do I need a savings account with them for a deposit? Thanks.

 

[NoName]

The 2 or 3 times I have done this they have refunded it back onto the closed card then I rang up and had it transferred to my bank account.

 

[Aus ATC]

The 2 or 3 times I have done this they have refunded it back onto the closed card then I rang up and had it transferred to my bank account.

Thanks - was that a NAB account? I don't have one yet, but will set one up if needed.

 

[NoName]

No was transferred to a different bank.

 

[Lynda2475]

As the credit happens after closure, I just used the chat feature and asked them to deposit into the non-nab account i was using to pay the bills.

 

[CaptainCurtis]

How long does it generally take for points to post to QF once a statement has been issued? My first statement was issued 3 days ago, but still no points in my QF account.

 

[ZMan]

I’m looking to apply for the existing NAB customer offer of 120k points for $295.

I just cancelled a Citibank Premier card which had a $15k credit limit via their online portal. I haven’t received confirmation that it’s been closed yet.

I currently have a $6k limit on my Coles MasterCard as the only other credit Card. I’m on $200k plus pre-tax salary.

Just want to see what your opinions are about when I should apply? Should I even wait for the confirmation that the Citibank card is closed before I apply, considering that this might not show up as closed on my credit check history until a month or more later?

 

[aleaf]

Based on my experience, no need to wait, ZMan. Go ahead and apply now.

On application, you'll be asked about and other cards. Can specify then which active cards you hold. They'll contact you for further details and if they are still seeing an open Citi card, you can explain.

In the meantime, you can be proactive and ask Citi to supply your with a letter confirming date cards was closed.

 

[ZMan]

So I just applied for this earlier today and I can see my application in my NAB online portal.

I also uploaded payslips/bank statements etc.

How long does the approval usually take?