- 0% p.a. for 32 months on balance transfers. No balance transfer fee applies. Reverts to Cash Advance Rate.
- No annual fee for the first year ($59 thereafter)
- Low purchase rate of 12.99% 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, NAB Pay, Fitbit Pay, Garmin Pay and Samsung Pay
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NAB Credit Cards
NAB Low Rate Credit Card
Updated 29 July 2021
Enjoy 0% p.a. on balance transfers for 32 months with no balance transfer fee. Plus, save with $0 annual fee for the first year ($59 thereafter), low interest rate of 12.99%, and up to 55 interest-free days. Other benefits include free additional cardholder and special offers on events with Visa Entertainment.
New card members only. T&Cs apply.
Purchase Rate (p.a)
12.99%
Balance Transfer (p.a)
0% for 32 months No balance transfer fee.
Reverts to 21.74% p.a.
Annual Fee (p.a)
$0 first year. Then $59 p.a.
Pros and cons
- No rewards program
- No complimentary insurance covers
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 about 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 low purchase rate. Funnily enough, that’s exactly what the NAB Low Rate Credit Card has to offer cardholders.
In terms of balance transfers, the card offers 0% p.a. for 32 months, with no balance transfer fee. This could allow you to save on interest paid out on your existing credit card debt at card application.
It is worth pointing out that any balance left unpaid will revert to the card’s high cash advance rate.
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 existing credit card debt with 0% p.a. to pay for the first 32 months with no balance transfer fee. You could also save with a low purchase rate day-to-day, 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 0% p.a. for 32 months balance transfer offer, with some handy features thrown in as well.
User reviews
Rates and fees
Interest rates
Purchase rate 12.99% 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 32 months
Balance transfer revert rate 21.74% p.a.
Balance transfer from personal loan No
Balance transfer fee No fee
Balance transfer limit 90% of approved credit limit
Banks you can't balance transfer from NAB
Credit limits
Minimum credit limit $1,000
Maximum credit limit N/A
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 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
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
- Low purchase rate of 12.99% p.a.
- No annual fee for the first year ($59 thereafter).
- 0% p.a. for 32 months on balance transfers. No balance transfer fee applies. Reverts to Cash Advance Rate.
- 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.
- 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 question139 questions (showing the latest 10 Q&As)
I’m on an aged pension can I get a credit card for emergencies say $1000
Hi Dorothea, thank you for your question. If you’re certain that you meet all the eligibility criteria, then there is nothing stopping you from applying for a credit card. If you’d like to learn more and compare a range of cards, we have created a list of Pensioner Credit Cards that you may want to check out. Hope this helps!
I am a senior, I have a NAB credit card that is charging me $95 per annum for fees, plus monthly interest fee & administration fees. Can I change my credit card to a lower cost card. But staying with NAB. Thanks.
Hi Dana, thanks for your question! NAB has different promotions for each of their credit cards - from low interest rates, to $0 annual fee to name a few. I suggest checking on the list of NAB credit cards we have compiled to see the different promotions they offer.
Hi, I am confused on the difference between balance transfer and cash advance rate. Could you please clarify them a little bit? 0% p.a. for 20 months on balance transfers means there is no interest rate charged if I transfer any amount of money from my credit card to any of my bank account isnt it???
Hi Niraj, not quite. So for the first 20 months you don't have to pay interest on any debt you move TO the new card from another card. If you move money from a credit card to a bank account it will be considered a cash advance and will be charged the 21.74% p.a. cash advance rate as well as the 2% cash advance fee. It's wise to not make cash advances on credit cards unless it is an absolute emergency and you have no other option.
I can see 'go to offer' on screen but it doesn't take me through after clicking. I would like to apply for balance transfer (from a CBA credit card). thx Raquiba
Hi, Im new to this: here goes, If I purchase something, pay it back before the 55days, will I be charged anything? - what is the 12.99% per annum fee mean? If I don't pay the amount within 55 days, say $500, then I will be charged 12.99% of the $500? or will all my transactions through he whole year be added up and I'll be charged 12.99%? which card will give me frequent flyer points?
Hi Patick, with standard interest free days on credit cards, its an up to period. With the NAB low rate as an example, you have a 55 day billing cycle. When you make the purchase will affect how many interest free days. If you purchase 20 days in, then you will have up to 35 days. Though if you are holding a balance. Not paying off your card in full. Then will receive no interest free days on your next billing cycle. Some cards have long 0% purchase offers which will overwrite this standard period. Now in regards to interest. This amount is p.a. or over 12 months. So the rate a month effectively becomes 1.0825%. You are only charged interest on any outstanding amount. Not on any total amount you have spent. For Qantas points earning with a reasonable annual fee. Have a look at the Qantas Premier Everyday.
Now that I've done my head in trying to figure out which CC is best for me, I need you help. I am retired, use a CC for all my purchases and pay it off every month. Recently, I've become somewhat confused about all the fees and charges I am paying. Can you give me clear, basic advice that's not going to tip me over the edge? My current CC card charges 20.24% interest and after 40 years with the ANZ bank I think I should pursue other options.
Hi Neil, I would speak to ANZ directly. See if they can move you to the ANZ Low Rate. This way you get a lower interest and annual fee card. I know they did this for my mum with CBA. So it is possible. It can be hard to get approval for a new card once your are retired. Depending on whether you have extra income from super etc.
Hello there G'Day I am here writing to request you regarding providing me with information on eligibility criteria for the credit card. I am an International Student (a temporary resident), doing PhD at the University of Tasmania and I have been awarded living allowance scholarship ($28,092 per annum). Therefore, I want to know that would I be eligible to apply for a credit card from any bank. Many thanks Kind regards Ramandeep
Hi Ramandeep, if you have more than 9 months left on your Visa. Have a look at the ANZ Low Rate. To apply for an ANZ Low Rate credit card, you need to: Be 18 years of age or over, and Be a permanent Australian resident or a non-permanent resident with more than 9 months remaining on your visa. Have a good credit rating. Find out more about Credit Reporting
Does 0% on purchases include purchases made whilst overseas? You would just pay the 3% fee?
Hi Kel, yes any purchases would be at the 0% during the intro period. Yes you would get hit with foreign transaction fees on the purchases.
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.
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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