NAB has announced that it will cease issuing American Express card as from November 17. In an announcement on its website, it has stated that

  • From November 13, 2017, no new applicants will receive a companion American Express card
  • From February 21, 2018, existing American Express cards issued by NAB will cease to work.

The changes affect the following accounts:

  • Qantas Rewards Card
  • Qantas Rewards Premium Card
  • Velocity Rewards Card
  • Velocity Rewards Premium Card

Other NAB credit card accounts are unaffected, as they don’t offer the companion card.

In removing the American Express card, NAB joins ANZ in no longer offering a companion card. This will leave Commonwealth and Westpac as the only two banks offering an American Express companion card.

Earn Rate changes

Holders of the Premium cards will also find that their earn rate is changing. NAB has published the following tables.

NAB Qantas Rewards Premium Card earn rate
Net Purchases American Express
(until 20 February 2018)
Visa
(from 13 November 2017)
First $3000 per statement period 1 point per $1 1 point per $1.50
Next $3000 ($3001 – $6000) per statement period 1 point per $1 1 point per $3

 

NAB Velocity Rewards Premium Card earn rate
Net Purchases American Express
(until 20 February 2018)
Visa
(from 13 November 2017)
First $3000 per statement period 1 point per $1 1 point per $1.50
Next $3000 ($3001 – $6000) per statement period 1 point per $1 1 point per $3

 

These changes only affect the specific cards mentioned. Other cards that have been issued without the American Express companion card are not affected by these changes.

 

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