Your Credit Card Travel Insurance Is Being Removed in May 2026
If you have been relying on the travel insurance bundled with your credit card, check your inbox. From 15 May 2026, several major banks are removing complimentary travel insurance from their credit cards entirely.
The changes are concentrated within the NAB Group — which now includes NAB, Citi Australia, Virgin Money, and MyCard (formerly Suncorp) — plus Bank of Queensland. Combined, these banks cover millions of Australian cardholders.
There is no grandfathering. If your trip falls on or after 15 May, your card no longer covers you. Here is exactly which cards are affected, which still have travel insurance, and what to do before you travel.
Which Cards Are Losing Travel Insurance?
NAB — effective 15 May 2026
Full removal (all travel insurance gone):
- NAB Rewards Platinum Credit Card
- NAB Flybuys Rewards Credit Card
- NAB Low Rate Platinum Credit Card
- NAB Velocity Rewards Premium Credit Card
- NAB Premium Credit Card
- NAB Low Fee Platinum Credit Card
Reduced coverage (international cover cut from 3 months to 30 days):
- NAB Platinum Visa Debit Card
- NAB Qantas Rewards Premium Card
- NAB Qantas Plus Card
MyCard (formerly Suncorp, NAB-owned) — effective 15 May 2026
Full removal:
- MyCard Rewards Card
- MyCard Platinum Card
- MyCard Platinum Qantas Card
- MyCard Clear Card
Citi Australia (NAB-owned) — effective 16 May 2026
Full removal (travel and rental vehicle excess insurance):
- Citi Rewards Credit Card
Citi Premier and Prestige cards appear to retain coverage with modifications.
Bank of Queensland — effective 15 May 2026
Full removal:
- BOQ Platinum Rewards Credit Card
- BOQ Blue Visa Credit Card
Sources: NAB policy changes, MyCard insurance changes, BOQ insurance update.
Which Cards Still Have Travel Insurance?
Not all banks are making changes. As of April 2026:
Still offering travel insurance (no announced changes)
| Bank | Cards with travel insurance | Trip duration |
|---|---|---|
| Westpac | Altitude Black, Earth Black, Altitude Platinum Plus, Earth Platinum Plus | Up to 6 months (Signature) / 3 months (Platinum) |
| Commonwealth Bank | Gold Awards, Platinum Awards, Diamond Awards, Ultimate Awards, World Debit Mastercard | Up to 6 months (requires $500 spend on travel) |
| ANZ | Frequent Flyer Black, premium/platinum cards | Varies by card |
| Bankwest (CBA-owned) | Breeze Platinum, Qantas Platinum, Qantas World, More Platinum, More World | 31 days (Platinum) / 6 months (World) |
| American Express | Platinum, Explorer, Velocity cards | Varies; Platinum Business requiring card booking from 8 July 2026 |
NAB Group cards retaining coverage
| Card | Coverage |
|---|---|
| NAB Qantas Rewards Signature | Full travel insurance retained |
| NAB Rewards Signature | Full travel insurance retained |
The pattern is clear: Signature-tier (high annual fee) cards are keeping travel insurance. Platinum and below are losing it. If you hold a mid-tier NAB Group card, you are affected.
Why Are Banks Doing This?
No bank has cited a single regulatory mandate. But the writing has been on the wall:
- ASIC found credit card insurance returned just 11 cents in claims for every dollar of premiums paid between 2011–2018, leading to over $250 million in remediation for approximately 434,000 consumers (source: ASIC)
- Design and Distribution Obligations (from October 2021) require products to be designed for appropriate target markets — a compliance burden for blanket insurance attached to credit cards
- The NAB Group consolidation (acquiring Suncorp’s banking arm and Citi’s consumer business) likely triggered a portfolio-wide review of insurance offerings
The short version: bundled credit card insurance was low-value for consumers and increasingly risky for banks. The regulatory environment made maintaining it commercially unappealing.
Credit Card Insurance vs Standalone: What You Were Actually Getting
If you relied on your card’s travel insurance, you may have had less cover than you assumed:
| Feature | Credit card insurance (typical) | Standalone insurance (typical) |
|---|---|---|
| Medical cover | Often capped at $250,000 | $10 million to unlimited |
| Pre-existing conditions | Generally excluded, cannot add | Can often be assessed and added |
| Trip duration | 30–90 days | Customisable, up to 12 months |
| Activation | Required $500+ spend on card for travel | Active from purchase |
| Excess | $400–$600 | Often $0–$200 options |
| Adventure activities | Usually excluded | Available as add-on |
| Customisation | None — group policy | Tailored to destination and health |
The most significant gap is medical cover. A serious illness or injury overseas can easily exceed $250,000 — the US, for example, regularly produces medical bills of $500,000+ for hospital stays. Standalone policies with $10 million or unlimited medical cover close this gap.
What To Do Before You Travel
1. Check if your card is affected
If you hold any card listed in the removal section above, your travel insurance ends on 15 May 2026. Check your bank’s insurance page or call them directly.
2. Buy standalone travel insurance
Standalone travel insurance is available from multiple Australian providers. Approximate costs:
| Trip type | Estimated cost |
|---|---|
| 2-week international trip (single) | $80–$250 |
| Annual multi-trip (single) | $200–$700/year |
| Annual multi-trip (family) | $600–$1,200/year |
Providers to compare include Fast Cover, InsureandGo, Southern Cross, 1Cover, World2Cover, Cover-More, Budget Direct, and Allianz.
If you travel internationally 3+ times per year, an annual multi-trip policy is usually cheaper than buying per-trip. Most annual policies cover trips of up to 30–60 days each.
3. Check trips already booked
There is no grandfathering for the May 15 changes. If you have a trip booked for after 15 May and were counting on your card’s insurance, you need to arrange standalone cover.
For claimable events that occurred before 15 May, claims are assessed under the existing policy in effect on the date of the event.
4. Consider upgrading your card
If your bank offers a Signature-tier card that retains travel insurance, the cost difference may be worth it — particularly if you travel frequently and the annual fee is offset by the insurance and other benefits. Run the numbers: an annual multi-trip standalone policy at $400–$700 versus the additional annual fee for a Signature card.
5. Do not assume other cards are safe
Westpac, CBA, ANZ, and Amex have not announced changes — but the industry trend is moving in one direction. If you rely on credit card travel insurance from any bank, check your policy terms before every trip.
The Numbers That Matter
- 28% of the Australian travel insurance market is credit card-based (source: HelloSafe Travel Insurance Barometer 2026)
- 39% of Australians trust their credit card travel insurance is sufficient
- 15% do not know whether their card includes travel insurance
- 11 cents per dollar was the claims-to-premium ratio ASIC found for credit card insurance
That 28% market share means millions of Australians may need to arrange standalone cover for the first time. If you are one of them, the transition is straightforward — standalone insurance is typically more comprehensive and, for the level of cover provided, often better value.
Compare insurance options at internest.com.au/insurance.
Reviewing your insurance? See our guide on the April 2026 health insurance premium increases.
Frequently Asked Questions
When exactly does the coverage end?
For most affected cards: 15 May 2026 (16 May for Citi). Any claimable event on or after that date is not covered by your card’s insurance, regardless of when you booked the trip.
Do I get any notice?
Yes. Banks have provided approximately six months’ advance notice (announcements from late 2025). Check your email and your bank’s website for specific details about your card.
What if I have a trip booked that spans the 15 May cut-off?
If your trip starts before 15 May but extends past it, check with your bank’s insurer about how coverage applies during the overlap. For any new claimable event occurring after 15 May, you will likely need standalone cover. The safest approach: buy standalone insurance for the entire trip.
Can I still claim for something that happened before 15 May?
Yes. Events that occur before the cut-off date are assessed under the policy in effect at the time.
Is Westpac / CBA / ANZ going to remove theirs too?
No announcements as of April 2026. However, the trend — driven by ASIC regulatory pressure, compliance costs, and low claims ratios — suggests mid-tier card travel insurance across the industry is declining. Do not assume it will be available indefinitely.
What about rental vehicle excess insurance?
Several of the affected cards also lose rental vehicle excess insurance on the same date. If you regularly rent cars when travelling, check whether your card still covers this or whether you need separate cover.
General information only, not personal financial advice. Card features and insurance coverage details sourced from bank websites and policy documents as of April 2026, subject to change. Always confirm current policy terms directly with your card issuer and insurer before travelling. Sources: NAB, MyCard, ASIC, privatehealth.gov.au.