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NAB StraightUp Card
NAB StraightUp Card

NAB Credit Cards

NAB StraightUp Card

Updated 19 October 2020

With the NAB StraightUp Credit Card, you’ll pay no interest or late payment fees - just a simple monthly fee. The card comes with no foreign currency fees on international purchases, online or overseas.

Purchase Rate (p.a)

0%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$0

$0

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Pay no interest or late payment fees – just a simple monthly fee.
  • Monthly fee of $10 – gives you access to a credit limit of up to $1,000
  • Monthly fee of $15 – gives you access to a credit limit of up to $2,000
  • Monthly fee of $20 – gives you access to a credit limit of up to $3,000
  • No foreign currency fees on international purchases, online or overseas
  • No Use, No Pay. If you don't make any purchases and have an outstanding balance of $0 during the whole statement period we'll reverse your monthly fee.
  • Predictable Payments. Your minimum payment is fixed based on your credit limit, giving you certainty of what to pay each month.

  • Fixed low credit limits

Creditcard.com.au review

Editor Review

NAB StraightUp Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The NAB StraightUp Credit Card Review

Looking for a credit card that works a little bit differently to the rest? The NAB StraightUp Credit Card may be just what you’re looking for. Keeping things simple in terms of extras, this card charges no interest on purchases. Instead, it charges a monthly fee, with predictable payments depending on your credit limit and how much you spend. And if you don’t use the card? You don’t pay the monthly fee.

How It Works

As the NAB StraightUp Credit Card works in a different way to other credit cards, we’re going to change the way our review is set out, so that we can explain the ins and outs of this new offering from NAB. From there, we’ll get into who the card will work best for, and how to make it work for you.

First up, interest. Unlike other credit cards, the NAB StraightUp Credit Card does not charge interest when you carry a balance. The annual interest rate is 0%, which essentially means there will be no interest charged to your account ever.

Instead, this card works on a fee system. With no annual fee, the card charges a monthly fee, which varies according to your credit limit.

  • If you have a credit limit up to $1000, your monthly fee will be $10
  • If you have a credit limit up to $2,000, your monthly fee will be $15
  • If you have a credit limit up to $3,000, your monthly fee will be $20

Now to your payments. Your minimum payment is fixed, and it is also based on your credit limit. This gives you predictable payments, with no surprises. As an example, here’s how much you could have to pay each month, if you were to only make the minimum payment (note, the monthly fee is included in the minimum monthly payment).

  • If you have a $1,000 credit limit, you'll need to pay at least $35 towards any balance owing by the due date each month.
  • If you have a $2,000 credit limit, you'll need to pay at least $75 towards any balance owing by the due date each month.
  • If you have a $3,000 credit limit, you'll need to pay at least $110 towards any balance owing by the due date each month.

And if you don’t use the card at all during the month? Then you don’t pay the monthly fee. How does that work exactly? As long as you have an outstanding balance of $0 during the whole statement period and you don't make any purchases, your monthly fee will be charged on the due date and then reversed.

 

What’s not so great...

So then, why might this card not suit you? As the name suggests, the NAB StraightUp Credit Card is indeed a straight-up credit card. That means no rewards, no fancy extras, no balance transfers. This card is for purchases only, and cannot be used for cash advance transactions, including gambling, foreign currency purchases or lottery tickets.

For some users, this may not suit the way they typically use their credit card. For others, however, the differences on offer may be entirely refreshing.

Why should you choose this card?

If you want to change the way you use your credit card – or you are new to credit cards and think this type of card would work well for you – the NAB StraightUp Credit Card may be a great fit. Not only is there no interest, there are no foreign currency fees or late payment fees, which could help to keep costs down over the long term.

Instead of paying interest, you will have predictable payments each month, with a monthly fee that is dependent on your credit limit. Want to lower your monthly fee? You have the option to lower your credit limit if that suits your spending style. The card also provides a no use, no pay policy, allowing you to keep costs to a minimum when you don’t use the card.

What we would say though is that before you start using the card – preferably before you even apply – you should read more about how it works in NAB’s easy-to-understand terms. This will ensure you fully understand how the card works, to then allow you to make it work for you as you use the card day to day.

Overall Rating

In this new offering, NAB aims to simplify the way in which users interact with their credit card, taking interest out of the equation, while creating predictable payments with a monthly fee system in place. As long as you understand how the card works – and you’re happy with a simple, no frills option – this card could be a game changer.

User reviews

NAB StraightUp Card ( based on 3 Creditcard.com.au user reviews )

43% rating based on 3 reviews

Rates
Fees
Rewards
Customer Service
Value
36%

David I

1 December 2020

Its crazy that with a balance of only say 110 dollars, you have a fee of 20 dollars for just a month. This card is meant to compete with payday lenders and take advantage of the young and vulnerable, but then again. ALL credit cards in 2020 are a ripoff and a debit card is the ONLY way to go.

Does not recommend this card
0%

Pingu

19 November 2020

Great card if you need an afterpay substitute as the card has no interest fees and only a set minimum repayment charge per month Only thing to watch out for is the monthly fee...$20 per month is $240 per year if you use it every month. A plus is that if you don't use it you don't pay the fee for that month.

Recommends this card

Rates and fees

Interest rates



Purchase rate 0% p.a.

Cash advance rate N/A

Interest free period on purchases up to n/a days

Credit limits

Minimum credit limt $1,000

Maximum credit limit $3,000

Fees & repayments

Annual fee $0 p.a.

Additional card holder fee N/A

Foreign transaction fee 0%

Minimum repayment

Cash advance fee N/A

Late payment fee $0

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

Overview

NAB StraightUp Card

Your minimum payment is fixed based on your credit limit, giving you certainty of what to pay each month.

  • Put simply, if you have a $1,000 credit limit you’ll need to pay at least $35 towards any balance owing by the due date each month ($10 monthly fee is included in your balance)
  • If you have a $2,000 credit limit you’ll need to pay at least $75 towards any balance owing by the due date each month ($15 monthly fee is included in your balance)
  • If you have a $3,000 credit limit you’ll need to pay at least $110 towards any balance owing by the due date each month ($20 monthly fee is included in your balance)

 

Key features

  • Pay no interest or late payment fees – just a simple monthly fee.
  • Monthly fee of $10 – gives you access to a credit limit of up to $1,000
  • Monthly fee of $15 – gives you access to a credit limit of up to $2,000
  • Monthly fee of $20 – gives you access to a credit limit of up to $3,000
  • No foreign currency fees on international purchases, online or overseas
  • No Use, No Pay. If you don't make any purchases and have an outstanding balance of $0 during the whole statement period we'll reverse your monthly fee.
  • Your minimum payment is fixed based on your credit limit, giving you certainty of what to pay each month.

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

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.

2 questions (showing the latest 10 Q&As)

AK

AK

17 November 2020
for credit limit 3000 suppose the total purchase is $2800. If I pay the total amount due($2800) by due date then do I have to pay monthly fee as the balance will be 0 before new month cycle
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    17 November 2020
    Hi AK, if you use the card during the cycle, it sounds like they charge the monthly fee. I have grabbed, If you don't make any purchases and have an outstanding balance of $0 during the whole statement period, we'll reverse your monthly fee. So its a bit tricky from NAB. Bottom line, if you have a no annual fee card. Then pay it off in full each month. You don't pay interest or any monthly fee. So this may be a better option. I do like the no foreign fees though. The ME Frank no annual fee card is pretty sweet.
jess

jess

21 September 2020
I am looking at the NAB Straightup card, however I am a full-time student and only have a government income?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    22 September 2020
    Hi Jess, NAB are not clear on what, if any, the minimum requirements are for income. How much income do you get from the government?
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