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NAB Low Rate Credit Card – Balance Transfer Offer
NAB Low Rate Credit Card – Balance Transfer Offer

NAB Credit Cards

NAB Low Rate Credit Card – Balance Transfer Offer

Updated 15 March 2024

Get back on track with 0% p.a. on balance transfers for a massive 28 months with a 2% balance transfer fee. Plus, save more with $0 annual fee the first year, and a low $59 p.a. after that. This card comes with a low variable interest of 13.49% p.a. on everyday purchases, one free additional cardholder and special offers with Visa Offers + Perks. The NAB Low Rate card is a good match if you're looking for a way to get on top of debt and save on card costs.

New NAB Low Rate card members only. T&Cs apply.

Purchase Rate (p.a)

13.49%

Balance Transfer (p.a)

0% for 28 months 2% balance transfer fee applies.
Reverts to 21.74% p.a.

Annual Fee (p.a)

$0 first year. Then $59 p.a.

$0 over 28 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. for 28 months on balance transfers. 2% balance transfer fee applies. Reverts to variable Cash Advance Rate.
  • No annual fee for the first year ($59 thereafter)
  • Low variable purchase rate of 13.49% p.a.
  • Up to 55 interest-free days on purchases
  • Visa payWave
  • Free additional cardholder
  • Tap and pay your way. Enabled for Apple Pay, Google Pay, Fitbit Pay, Garmin Pay and Samsung Pay

  • No rewards program
  • No complimentary insurance covers

Creditcard.com.au review

Editor Review

NAB Low Rate Credit Card – Balance Transfer Offer

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

The NAB Low Rate Credit Card - 0% Balance Transfer Offer

The NAB Low Rate Credit Card focuses on being a low-cost, money-saving card. It has an affordable annual fee and NAB’s lowest everyday purchase rate, as well as some good introductory offers. The balance transfer offer has one of the longest interest-free periods out there at 28 months, which makes it very effective for stopping the debt snowball if that's your goal.

Let’s have a look at the pros and cons of NAB's low-rate card.

What we love...

0% p.a. on balance transfers for 28 months. You can transfer up to 90% of your credit limit, and you won't pay interest for 28 months on the amount transferred (that is an epic timeframe for paying off tricky debt). A one-off balance transfer fee of 2% applies which is based on the transferred amount and charged to your NAB credit card account when the balance transfer is completed. But, any unpaid amount after the 28 months ends will be charged the cash advance rate, which is very, very high at 21.74%. Moral of the story: make a plan to pay off your debt before the 28 months end, and bask in the relief of being debt-free.

No annual fee the first year. The annual fee is very competitive at $59 per year (other cards with similar offers can be around $80+ per year) but NAB is giving you the first year free, which is a nice extra.

The low minimum credit limit. Having a lower credit limit helps keep a cap on your spending, and looks better to lenders if you're in the market for a loan. The low credit limit is a good bonus if you're a first time credit card user, and want to set a 'safety limit' while you're working out how to use the card and build your credit score.

Visa Offers + Perks. You can sign up to Visa Offers + Perks to get personalised discounts on retail, dining and experiences. For instance, you can get 10% cashback on Booking.com.

You'll also get:

  • 55 days interest-free on purchases after the intro period ends
  • One free additional cardholder over 16 years old
  • 24/7 emergency travel assistance with Visa Customer Assistance Services
  • A wide range of digital wallets to choose from

What’s not so great...

First, be aware that any balance transfers left unpaid at the end of the 28 months will revert to the variable cash advance rate. Having a high rate of interest applied to your balance can quickly take you backwards, so do your best to pay it off before the cash advance rate kicks in.

Also, bear in mind this card is a low-rate, low-annual fee card. Don’t expect flashy features and rewards, because it just doesn't have them (as is the case for most cards in the low-rate market). But, it does a good job of being a low-cost card that helps you get on top of debt using its balance transfer offer.

Overall Rating

The NAB Low Rate card with 0% p.a. balance transfer offer sits neatly in the low-rate space. Its purchase rate is one of the lowest and its annual fee is very competitive (and free for the first year). It's a card designed to keep costs down, but it also helps you save money. If you use the balance transfer offer wisely, you can use the generous period to pay off your debt without forking out interest. It's an excellent offer on a solid performer.

User reviews

NAB Low Rate Credit Card – Balance Transfer Offer ( based on 27 Creditcard.com.au user reviews )

84% rating based on 27 reviews

Rates
Fees
Rewards
Customer Service
Value
100%

JENNA WELLIP

19 October 2021

I need to be part of it too

Recommends this card
19%

Creditcard.com.au Visitor

3 November 2016

Card was paid off on the 10th. Got charged late payment fees on the 4th of the following month...

Does not recommend this card
86%

Creditcard.com.au Visitor

28 January 2013

Low rate, low annual fee. You get a balance transfer offer if you need it. But the best thing about this card is that its low rate is so cheap.

Recommends this card
88%

Aoife McLennan

28 January 2013

I signed up for a NAB card because I do all my other banking with NAB. It has a good low purchase rate so it works out fairly cheap month to month, and the annual fee is affordable.

Recommends this card

Rates and fees

Interest rates



Purchase rate 13.49% p.a.

Cash advance rate 21.74% p.a.

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 28 months

Balance transfer revert rate 21.74% p.a.

Balance transfer from personal loan No

Balance transfer fee 2% one off

Balance transfer limit 90% of approved credit limit

Brands you can't balance transfer from NAB

Credit limits

Minimum credit limit $1,000

Maximum credit limit $30,000

Fees & repayments

Annual fee $59 p.a.

Additional cardholder fee $0 p.a.

Foreign transaction fee 3%

Minimum repayment 2% or $25 whichever is greater

Annual fee the first year $0

Cash advance fee 3% or $3.00 whichever is greater

Late payment fee $15

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance No

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Extras

Tap and pay your way. Enabled for Apple Pay, Google Pay, Fitbit Pay, Garmin Pay and Samsung Pay

Overview

NAB Low Rate Credit Card – Balance Transfer Offer

Key features

  • 0% p.a. for 28 months on balance transfers. 2% balance transfer fee applies. Reverts to variable Cash Advance Rate
  • No annual fee for the first year ($59 thereafter).
  • 24/7 emergency travel assistance with Visa’s Global Customer Assistance Services (GCAS).
  • Fraud protection
  • Up to 55 interest-free days on purchases.
  • Visa payWave
  • Free additional cardholder.
  • Syncs with Apple Pay, Google Pay, Fitbit Pay, Garmin Pay and Samsung Pay.

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Resident or citizen of Australia. Temporary residents are eligible.

  • You have your personal details ready to complete the online application

Pauline

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger

Recently Asked Questions

Something you need to know about this card? Ask our credit card expert a question.

171 questions (showing the latest 10 Q&As)

Annie

Annie

18 March 2024
I have an existing NAB low rate mastercard. Can I do a balance transfer to this card as I want to close my David Jones AMEX card
    Pauline - CreditCard.com.au

    Pauline

    20 March 2024
    Hi Annie, technically, you can transfer non-NAB balance to your NAB Low Rate card. However, since you’re an existing NAB customer already, I suggest contacting NAB directly at 1800 033 103 to check this with them.
Jeremy

Jeremy

14 March 2024
Can I perform more than 1 Balance transfers within the first 28 months?
    Pauline - CreditCard.com.au

    Pauline

    20 March 2024
    Hi Jeremy, it doesn't state anywhere in NAB's PDS that you have to process the balance transfer during application. In its terms, it says "NAB will process each request for a balance transfer and debit your NAB card account in accordance with your request". There are some other terms too, like each transfer has to be at least $250. Here's the balance transfer PDS so you can see what the other requirements are, and I'd suggest giving NAB a call to double check. Thanks Jeremy!
Hayley

Hayley

12 March 2024
We have a NAB Platinum Card currently, are we eligible to roll over our balance from this card to a NAB low interest rate card?
    Pauline - CreditCard.com.au

    Pauline

    13 March 2024
    Hi Hayley! No, unfortunately you can't do a balance transfer within the same brand of credit card. You'd have to use a non-NAB card (but you can transfer to other brands issued by NAB, like Qantas Money, Virgin Money, Citi and Bank of Queensland). Just not NAB-to-NAB. Good luck!
Hayley

Hayley

9 March 2024
Hi, I would like to get a 0% transfer credit card for 5k. I wanted to pay out my mums credit card as I used it for my home renovations and I would like to take this debt into my own name. Is this something you can do for me?
    Pauline - CreditCard.com.au

    Pauline

    12 March 2024
    Hi Hayley, you've landed on Creditcard.com.au which is a comparison site and not NAB. But, I can tell you it's very uncommon to be able to transfer a credit card from one name to another. You could call NAB directly and ask, but typically it all has to be under the same name. Good luck!
JOHN

JOHN

23 February 2024
Is there any 100% balance transfer credit cards available?
    Pauline - CreditCard.com.au

    Pauline

    23 February 2024
    Hi John, no not many. NAB will do 100% of the credit limit if you're an existing cardholder, but if you're applying for a new card it's 90%. Bendigo Bank will do 100% of the credit limit as long as there's no promotional balance transfer offer on the card, otherwise it's 80%. Most banks need to secure their risk by keeping a little bit of buffer there. You could request a higher credit limit, but make sure you're keeping it all within your financial means. Thanks John!
Kotresh Aradyamath

Kotresh Aradyamath

20 December 2023
I am looking for a credit card which has option of 0% interest for 28-32 months on balance transfer to pay off my personal loan. Could you please help me to find a right credit card option? Thanks
    Pauline - CreditCard.com.au

    Pauline

    20 December 2023
    Hi Kotresh, the “right” credit card actually depends on your own personal circumstances. Fortunately there are a few providers who will accept personal loan debt with a balance transfer. These include Citi, Coles Mastercard, Virgin Money, Qantas Money and Kogan. You can click through to our reviews to see how the cards compare. Hope this helps you out!
Bee

Bee

13 December 2023
Can I transfer Zip Pay and Zip Money debt to this credit card?
Raina

Raina

24 June 2023
I would like to apply to do a credit card balance transfer
    Pauline - CreditCard.com.au

    Pauline

    26 June 2023
    Hi Raina, unfortunately, we don’t have an active partnership with the NAB Low Rate Balance Transfer card. You can visit their official website page to apply. Alternatively, you can view a range of the other credit cards that offer balance transfers for options.
justin

justin

6 June 2023
Regarding the NAB Low Rate Credit Card – Balance Transfer Offer. I have a credit card I would like to balance transfer and a personal loan with my parents I would like to settle. Can I use this BT to pay that personal family loan?
    Pauline - CreditCard.com.au

    Pauline

    8 June 2023
    Hi Justin, I checked NAB Low Rate Balance Transfer card however, this card does not allow transfers from personal loans. There are only a few providers who do. You can check Citi, Coles, Kogan Money, Qantas Money, and Virgin Money which allows transfers from a credit card and personal loan. Hope that helps!
Liz Hayes

Liz Hayes

31 May 2023
How do I apply for this balance transfer card?
    Pauline - CreditCard.com.au

    Pauline

    1 June 2023
    Hi Liz, you can click the green Go To Offer button at the top of this page if you’re confident you’ve met the eligibility criteria. You can also browse some of the other balance transfer credit cards we’ve listed for alternative options.
Marian

Marian

30 May 2023
what is the maximum you can do for a credit balance transfer and after the 0% what is the intereast rate
    Pauline - CreditCard.com.au

    Pauline

    31 May 2023
    Hi Marian, we’re Creditcard.com.au, Australia’s top credit card comparison site. Anyhow, about your question on balance transfers, such requests are still subject to review and approval by the credit card issuer. With the NAB Low Rate Balance Transfer card, the credit limit starts at $1000 and you have the option to transfer up to 90% of your approved credit limit. Any remaining balance after the promotional period will revert to an interest rate of 21.74% p.a. Hope this helps!

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NAB Low Rate Credit Card – Balance Transfer Offer

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