NAB Business Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

The NAB Business Card

A basic option for business owners who want to streamline their expenses, the NAB Business Card allows accountholders to monitor and control business spending, as they provide their employees with cards set with individual spending limits. Accountholders can benefit from a low monthly card fee, a reasonable purchase rate, and up to 35 days interest free on purchases.

What we love...

Keeping it simple, the NAB Business Card offers a no frills option that makes it easier for business owners to manage business spending. In terms of ongoing interest, the card has the same rate on both purchases and cash advances. This rate is lower than average, which could help accountholders who carry a balance to save on interest month to month.

However, the card does allow accountholders to keep interest costs at zero with its interest free feature. This card provides up to 35 days interest free on purchases to accountholders who pay the closing balance on their monthly statement in full by the due date each month. Note, there are no interest free days on cash advances.

The NAB Business card is simple but efficient. You can provide employees with a card and control their spending by setting individual credit limits. You can also blocking certain transactions and temporarily switch cards off. Each month you'll be able to access a statement for each cardholder, so you can track their transactions and use the statements at tax time.

NAB Business credit cards also sync with Xero, MYOB and Quickbooks, so you can upload your statements quickly and easily. This card comes with unauthorised transaction insurance.

What about cost? As you would expect from a basic business card, the NAB Business Card works to keep costs down with a low monthly card fee. So, instead of paying more for a card that perhaps offers features that accountholders don’t need, or rewards that accountholders don’t want, this card simply focuses on providing access to credit at a low cost.

What’s not so great...

Some business owners may want more from their credit card. Some cards allow business owners to earn rewards or frequent flyer points on their spending, while others provide extras that can come in handy for frequent travellers, such as airport lounge access and hotel upgrades. The key is to weigh up the value of these features, to work out whether they are worth the extra cost in typically higher annual fees.

Why should you choose this card?

If all you need is a basic business card, the NAB Business Card could be the ideal option for your business. For a low cost, you can enjoy access to credit, with full accountholder control, backed by complimentary business liability insurance.

You could also take advantage of special travel and retail privileges through Visa Commercial Offers. This allows all Visa Commercial Card customers to access a comprehensive suite of benefits across a variety of business services, including accounting software, marketing solutions and productivity tools.

On top of that, the card offers easy application, allowing accountholders to upload their financial data from any accounting package software for a quick online decision. You can apply online if you are:

• A sole trader, a partnership with up to two partners, a company with up to five directors, or a trustee of an eligible trust.
• Registered for GST, have a valid ABN and turnover of at least $75,000 per year.
• Over 18 years old and an Australian citizen or permanent resident.
• Have all ATO payments and loan repayments up to date.

Overall Rating

Allowing business owners to manage their business expenses more effectively, the NAB Business Card offers a low cost option that can ease cash flow with up to 35 days interest free on purchases.