- 0% p.a. on purchases for the first 12 months
- Low ongoing purchase rate of 13.25% p.a.
- No annual fee first year
- Low annual card fee of $60 thereafter
- Complimentary Unauthorised Transaction Insurance
- Set individual credit limits under one facility
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NAB Credit Cards
NAB Low Rate Business Credit Card
Updated 26 February 2020
Special offer on a new NAB Low Rate Business Card. 0% interest on business purchases for the first 12 months and $0 annual card fee for the first year. Low standard annual card fee of $60 thereafter. Set individual credit limits under one facility.
Purchase Rate (p.a)
0% p.a.
for 12 months. Reverts to 13.25% p.a.
Balance Transfer (p.a)
N/A
Annual Fee (p.a)
$0 first year. Then $60 p.a.
Pros and cons
- No rewards program
Creditcard.com.au review
Editor Review
NAB Low Rate Business Credit Card
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.
The NAB Low Rate Business Credit Card
A very appealing option for business owners searching for a simple low cost credit card, the NAB Low Rate Business Credit Card makes it easier to manage cashflow, while offering fast and easy application and several no frills features. Want more? You can enjoy more money-saving benefits if you apply today, with two very attractive introductory offers on the table.
What we love...
With up to 55 days interest free on purchases, the NAB Low Rate Business Credit Card is designed to help business owners manage their cashflow, while keeping costs low. To sweeten the deal, NAB is currently offering two enticing introductory offers to help keep costs even lower, with 0% p.a. on purchases and no annual fee for the first year.
To be eligible for the card’s interest free offer, simply apply and be approved before the offer is withdrawn. You will pay no interest on purchases made during the first 12 months, after which point, any purchase amounts still owing will attract the card’s current purchase rate. Happily, this rate should remain relatively low, given the card’s ‘low rate’ status.
As for the no annual fee offer, as long as you apply and are approved before NAB withdraws the offer, you will have your annual fee waived for the first year. One year from the first use of the card, the standard annual fee will be charged. Bearing in mind the card’s low cost credentials, you know the standard annual fee for the NAB Low Rate Business Credit Card is not too steep.
Aside from its introductory offers, the card also features a few tempting extras. While they are not likely to blow you away with their magnificence, you may still find them useful – and therefore valuable. Want to find out what’s on offer in the way of extras? Read on, we’ll come back to them shortly.
What’s not so great...
As long as all you’re looking for is a low cost credit card, there’s not much to complain about with the NAB Low Rate Business Credit Card in your wallet. It has a low ongoing purchase rate and a relatively low annual fee, and it has some useful additions. But, if you’re longing for fancy features and exciting extras, know that this card simply doesn’t have them.
Why should you choose this card?
If you are a business owner who wants a low cost credit card option, the NAB Low Rate Business Credit Card may well be for you.
As a cardholder, you will benefit from Unauthorised Transaction Insurance, providing cover for up to $20,000 per individual cardholder, or up to $150,000 per accountholder in any 12 month period. You may also choose to personalise your cards with your business name, helping to advertise your business whenever one of your cards is used.
Controlling your expenses is simple with the NAB Low Rate Business Credit Card, as you have the option to attach multiple cards to one account, setting individual credit limits under one facility. Monthly statements are available for each cardholder, as well as a convenient summary table of your total account.
When it comes to credit card application, NAB makes this super easy. Upload your financial data from any accounting package software – such as Xero or MYOB – and you can enjoy 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.
Of course, you also have access to all the usual features offered on most credit cards nowadays. These include fraud protection with NAB Defence, online security through Verified by Visa, 24/7 emergency assistance if your card is lost or stolen, and contactless payments for purchases under $100.
Overall Rating
A simple business credit card with a low ongoing purchase rate, low annual fee and useful extras, currently offering 0% p.a. on purchases and no annual fee for the first year.
User reviews
Rates and fees
Interest rates
Purchase rate 13.25% p.a.
Introductory purchase rate 0% p.a. for 12 months
Cash advance rate 13.25% p.a.
Interest free period on purchases up to 55 days
Credit limits
Minimum credit limt $5,000
Maximum credit limit N/A
Fees & repayments
Annual fee $60 p.a.
Additional card holder fee $60 p.a.
Foreign transaction fee 3%
Minimum repayment
Annual fee the first year $0
Cash advance fee 2% or $2.50 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
Unauthorised transaction insurance
Overview
NAB Low Rate Business Credit Card
The NAB Low Rate Business Card lets you get 0% p.a. on purchases for the first 12 months. This reverts to a low interest rate of 13.25% p.a. on purchases and cash advances. Another great saving is you pay no annual fee the first year. The annual fee from the second year is $60.
Key features
- 0% on eligible business purchases for the first 12 months
- Low ongoing purchase rate of 13.25% p.a.
- Up to 55 interest free days on purchases if you pay the account in full by the due date each month
- No annual card fee for the first year
- Low annual card fee of $60 thereafter
- Complimentary Unauthorised Transaction Insurance
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
-
Australian citizen or a permanent resident. Have a valid ABN and your business must be registered for GST.
-
Minimum income of $75,000. That is, have an annual turnover of at least $75,000 p.a.
You have your personal details ready to complete the online application
Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.
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