- Low annual fee of $59
- 0% p.a. on purchases for 6 months
- A low standard purchase rate of 13.99% p.a.
- 0% p.a. for 6 months on balance transfers. One off 2% balance transfer fee applies. Reverts to Cash Advance Rate.
- Up to 55 interest-free days on purchases. Interest-free days on purchases applies if you pay your account in full by the due date each month. You won't receive interest free days if you have a balance transfer. However, from 30 March 2020 you may still receive the benefit of interest-free days on purchases if you have an outstanding balance transfer, if you pay the ‘interest-free days payment’ specified on your monthly statement in full by the due date each month.
- Visa Pay Wave
- Free additional cardholder
- Tap and pay your way. Enabled for Apple Pay, Google Pay, NAB Pay, Fitbit Pay, Garmin Pay and Samsung Pay
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NAB Credit Cards
NAB Low Rate Credit Card
Updated 24 February 2020
With the NAB Low Rate Visa, if you sign up now, you can also take advantage of 0% p.a. on purchases for 6 months. This introductory offer reverts to the low purchase rate of 13.99% p.a. Other benefits include a low $59 annual fee, one free additional cardholder, Visa PayWave and 24/7 emergency travel assistance with Visa Customer Assistance Services plus special offers on events and entertainment with Visa Entertainment.
Purchase Rate (p.a)
0% p.a.
for 6 months. Reverts to 13.99% p.a.
Balance Transfer (p.a)
0% for 6 months 2% BT fee applies. reverts to 21.74% p.a.
Annual Fee (p.a)
$59
Pros and cons
- 2% balance transfer fee
Creditcard.com.au review
Editor Review
NAB Low Rate 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 Credit Card
Saving money can be a wonderful thing, especially when you’re talking credit cards. While some folks seem happy paying out more in annual fees and interest for feature-packed credit cards, others prefer to save money where they can, saying no to extras they don’t actually need.
With the NAB Low Rate Credit Card, it’s all about money-saving. While it does have some nice introductory deals and features on offer, it also has an affordable annual fee and NAB’s lowest everyday purchase rate.
Sound like something you’d like to get your hands on? Let’s look closer at this money-saving card to see exactly what it has to offer.
What we love...
One way to save money when using credit is to pay using a credit card with a purchase offer. Funnily enough, that’s exactly what the NAB Low Rate Credit Card has to offer new cardholders right now.
If you’re approved for this card, you can enjoy 0% p.a. on purchases for six months. So, if you had to make a big purchase, for example, you could put it on your card, and then pay off the balance before the introductory period ends to avoid paying interest.
It is worth pointing out that any balance left unpaid will revert to the card’s low purchase rate rather than the significantly higher cash advance rate, but still, it’s a better idea to clear the balance to avoid paying any interest at all.
In terms of balance transfers, the card also offers 0% p.a. for six months, with a 2% balance transfer fee. While this isn’t the best balance transfer deal on the market at the moment, it could still allow you to save on interest paid out on your existing credit card debt.
Take note, you can now balance transfer up to 90% of your approved credit limit, which could definitely come in handy.
What’s not so great...
Before applying for a credit card, it’s generally a good idea to check out the small print. Not exciting, we know, but necessary nonetheless. With the NAB Low Rate Credit Card, be aware that any balance transfers left unpaid at the end of the intro period revert to the cash advance rate.
Anything else not to love? The main thing to bear in mind with this card is that it is a low rate, low annual fee card. Don’t expect flashy features and rewards, because it ain’t got them. However, as a money-saver, it does exactly as you would expect. It can help you save money.
Why should you choose this card?
As we said, the main reason to choose this card is for its money-saving capabilities. You could save heaps on purchases with 0% p.a. to pay for the first six months, then you can enjoy NAB’s lowest everyday purchase rate day-to-day. You could also save on balance transfers, while enjoying a very reasonable annual fee.
In terms of features, you can benefit from up to 55 days interest free on purchases after that intro period ends, one free additional cardholder, 24/7 emergency travel assistance with Visa Customer Assistance Services, and special offers on events and entertainment with Visa Entertainment.
Overall Rating
A low rate, low annual fee card with a great six-month 0% p.a. purchase offer and 0% p.a. balance transfer offer, with some handy features thrown in as well.
User reviews
Rates and fees
Interest rates
Purchase rate 13.99% p.a.
Introductory purchase rate 0% p.a. for 6 months
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 6 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
Banks you can't balance transfer from NAB
Credit limits
Minimum credit limt $500
Maximum credit limit N/A
Fees & repayments
Annual fee $59 p.a.
Additional card holder fee $0 p.a.
Foreign transaction fee 3%
Minimum repayment
Cash advance fee 2%
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, NAB Pay, Fitbit Pay, Garmin Pay and Samsung Pay
Overview
NAB Low Rate Credit Card
Key features
- 0% p.a. on purchases for 6 months
- Low ongoing purchase rate of 13.99% p.a.
- Low annual fee of $59
- Up to 55 interest-free days on purchases. Interest-free days on purchases applies if you pay your account in full by the due date each month. You won't receive interest free days if you have a balance transfer. However, from 30 March 2020 you may still receive the benefit of interest-free days on purchases if you have an outstanding balance transfer, if you pay the ‘interest-free days payment’ specified on your monthly statement in full by the due date each month.
- 0% p.a. for 6 months. One off 2% balance transfer fee applies. Reverts to Cash Advance Rate.
- Visa Pay Wave
- Free additional cardholder
- Tap and pay your way. Enabled for Apple Pay, Google Pay, NAB 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
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.
Recently Asked Questions
Something you need to know about this card? Ask a our credit card expert a question.
Ask a question131 questions (showing the latest 10 Q&As)
Am not sure if i still am a national bank holder
Hi Nelson, I would suggest you go in branch and try and find out. You don't need to be a NAB customer to apply for a NAB credit card.
What are the fees to use the NAB Lor Rate Credit Card overseas?
Hi Isaac, with NAB the Foreign transaction fee is 3%. So you will get hit with a 3% fee on everything you purchase O/S at the time you buy it. If possible, depending on the amount you will spend. It could make sense to get a card with no foreign fees like the 28 Degrees.
what crexit card u can apply and get approved if you started a good paid job for 2 months only. what requirements are deemed to satisfy an approval.
thanks
Hi Jimmy, approval depends on a range of factors. Key indicators are you income v expenses, assets v liabilities and your credit history. Being 2 months into a job can mean that it is harder to get a credit card. Though it will depend on your employment previously as well. You can have a go and apply for this NAB low rate offer if you like. Though best practice would say wait until you are employed for 6 months to apply.
Can I do balance transfer to my credit card
Hi Veronica, NAB accept non-NAB credit card or store debt to transfer to one of there balance transfer offers. Therefore if you want to transfer non-NAB debt then you can apply for this offer. If your debt is NAB then you will need to look outside of NAB for a balance transfer deal that suits.
i m not a resident of australia, however i ve a cr card with COM Wealth bank and was looking for a Balance Transfer card to save on interest.
i work full time and part time, 2 jobs.
can you advise me if possible? i
Hi Praveen, depending on your income I would look at the HSBC Platinum credit card. HSBC do seem to be flexible for non-permanent residents. The HSBC Low Rate has a much lower income requirement. Though they typically want to see more income if you are non-permanent than standard so maybe the low rate is a better option.
hi iam entitled to do this please
Hi Liz, you can apply online in around 15 minutes and get a response in 60 seconds. NAB may ask you for payslips or bank statements. If you are new to NAB, you will need to get identified online. You need to be at least 18 years old to apply and have good credit.
How much it should be minimum income to apply this credit card?
Hi Padmini, there is no set minimum to apply though in the past it has been 15k a year. You can use this as a guide. Best of luck with your application.
I have a personal loan with Citibank, balance owing is $13510.79. Can you please advise if I am able to transfer this balance to the NAB Low Rate Credit Card on 0% balance transfer for 16 months.
Hi Pauline, unfortunately this is a no. Citi are the only bank that accept personal loan debt as part or all of the transfer. No other bank will do this and your debt needs to be non-Citi. A longer way around could be for you to get another personal loan (non-Citi). Pay out your current Citi personal loan. Then look to transfer that debt at a later time to a Citi balance transfer offer. There is a risk of approval with each stage.
I have a nab low rate cc owing $4600 payintg12.99 % and no annual fee should I stay at NAB or balance transfer ? or do you have a suggestion to get it paid off I will be travelling to Italy June / july this year as well concerned about international fees and charges.
Please help
Hi Salli, I would look to balance transfer that NAB debt but as its no annual fee you could still keep the card open, even if you balance transfer the whole amount.
Yes the international fees can really add up on most cards. When travelling it is best to use a card that has no FX charges. If you can combine this with overseas travel insurance then it can pay for itself. Have a look at ANZ Travel Adventure Card. A range of practice features that work for people travelling. You also get a free flight which can be even Sydney to Perth return inc taxes. If the card doesn't suit you after the trip you can cancel it. Though this does not have any balance transfer offer.
If you want to transfer the NAB debt you could look at something like the HSBC Low Rate card.
I am on a disability pension does that mean I cannot apply
Hi Lilly, the Disability Pension is considered income when applying for a NAB credit card. Therefore if you meet the minimum income and have good credit you can apply for this card.
Is this offer available to existing nab credit card customers?
Hi Helen, it is but you cannot transfer NAB credit card debt to a NAB balance transfer offer. A balance transfer needs to be between different banks. Therefore if you are looking to transfer NAB debt then you can look at e.g. Virgin Flyer.
Creditcard.com.au Visitor
3 November 2016Card was paid off on the 10th. Got charged late payment fees on the 4th of the following month...
Does not recommend this cardCreditcard.com.au Visitor
28 January 2013Low 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 cardAoife McLennan
28 January 2013I 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