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.

One of the main attractions of the NAB Business Card is its simplicity. Accountholders can choose which employees to provide with a card, to then monitor and track spending online via NAB Internet Banking or NAB Connect. Accountholders can also set individual spending limits for each cardholder according to requirement.

And while it may not offer much in the way of fancy features, the card does protect accountholders against unauthorised transactions, with access to complimentary business liability insurance. Another nice feature on the card provides accountholders with the ability to personalise their cards with their business name.

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, created by Visa for business. 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/ACN and turnover of at least $75,000 per year.
• Over 18 years old and an Australian citizen or permanent resident.
• Have 12 months of business financial data from your accounting software.

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.