NAB Low Rate Credit Card – Rates & Fees

Information verified correct on May 30th, 2016
NAB Low Rate Credit Card Find out more Go to site

Don't worry, by clicking "Go to site" this won't leave a mark on your credit file. An enquiry will only appear on your file once you have submitted a credit card application.

What happens when I click Go to site?
  • Clicking Go to site will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>
  • One of few cards currently offering a special interest rate on purchases
  • Choose from a silver or pink credit card design - it's always cool when they give you the choice of colour!
  • Low annual fee
  • No rewards program

The NAB Low Rate is currently one of the most competitive introductory offers available. Another core benefit of this card is the fact that once the balance transfer period is over, it reverts to the low purchase rate, not the cash advance rate. This card also features one of the lowest annual fees in the market

Repay your debt faster with 0% p.a. for 15 months on purchases and balance transfers and keep interest costs low with the NAB Low Rate Card.

The NAB Low Rate Credit Card is a low-cost credit card, that offers a 0% introductory rate for 15 months on purchases, as well as balance transfers if you’re looking to consolidate your debts. The card also comes with a competitive annual fee that’ll help keep credit card costs to a minimum. As a Visa card, you’ll enjoy worldwide access and a number of extra features.

Product NameNAB Low Rate Credit Card
Balance transfer rate (p.a.)0% p.a. for 15 months with a one off 2% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (13.99% p.a.)
Purchase rate (p.a.)0% p.a. for 15 months (reverts to 13.99% p.a.)
Annual fee$59 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you dont have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Minimum Monthly Repayment2% or $25 which ever is greater
Card TypeVisa
Late Payment Fee$9
Foreign Currency Conversion Fee (VISA)3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Annual Fee$59 p.a.
Minimum Repayment2% or $25 which ever is greater
Late Payment Fee$9
Over Limit Fee$0
Cash Advance Fee2% or $2.50, whichever is greater
Overseas Cash Advance Fee2% or $2.50, whichever is greater
Overseas Emergency Replacement$100
Overseas ATM Balance check$1
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (VISA)3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Fee
Additional Cardholder Fee$0 p.a.
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
  • This card offers a 0% p.a. for 15 months on balance transfers and purchases.
  • This card offers a low annual fee of $59
  • This card has no rewards program which means there's no incentives for spending.
  • The annual fee could be lower consider what's on offer with 'no annual fee' credit cards.
  • 55 days interest-free days do not apply with an outstanding balance transfer

NAB Low Rate Credit Card review

The NAB Low Rate offers competitive rates, a low annual fee and other additional features that set it apart from other generic low rate cards. If you’re looking to repay your debts faster and cheaper, you can take advantage of a balance transfer offer of 0% p.a. for 15 months with a one off 2% balance transfer fee. If you wish to use the card for purchases, you could also benefit a purchase offer of 0% p.a. for 15 months and up to 55 interest-free days. With a low annual fee, this card offers cardholders a number of ways to keep their credit card costs low.

If you prefer a premium credit card, there is a premium version of the card available.

Benefits of NAB Low Rate Credit Card

  • Purchase offer. Pay no interest on purchases for the first 15 months from opening your account. Once the promotional period ends, any balances left unpaid will start attracting the standard rate of 13.99% p.a.
  • Balance transfer. With the NAB Low Rate Credit Card, you will receive a balance transfer rate of 0% p.a. for 15 months with a one off 2% balance transfer fee. With NAB, you can transfer 90% of your approved credit limit and there is a minimum transfer balance amount of $200. You can only transfer from a non-NAB credit card issued in Australia.
  • Interest-free period. The interest-free period for purchases on the NAB Low Rate Credit Card is 55 days. This allows you up to 55 days to pay off your balance and avoid paying interest. Interest-free days do not apply if the account has an outstanding balance.
  • Emergency travel assistance. As a Visa customer, you will receive emergency travel assistance from Visa Global Customer Assistance Services. This is an emergency service you can access 24/7 while you’re travelling.
  • Additional cardholders. With the NAB Low Rate Credit Card, you can add an additional cardholder at no extra cost. As this is your account, you decide how to use the account and are responsible for its use.

Features of the NAB Low Rate Credit Card

  • Interest rate. The standard interest rate on purchases is 13.99% p.a. and the cash advance rate is 21.74% p.a.
  • Annual fee. The NAB Low Rate Credit Card has a competitive annual fee of $59 to cover the service and maintenance of your account.
  • Special offers. As this is a Visa Card, you get access to special offers for shows, events and experiences with Visa Entertainment. You will also access special Visa offers and exclusive access.
  • Worldwide acceptance. Visa cards are accepted in 22 million locations all over the world.
  • Choice of card colour. This card comes in two different colours: silver and pink. You can select which card colour you would prefer.
  • Minimum repayment. You will have to pay at least 2% of the full outstanding balance every month
Back to top

How to apply for the NAB Low Rate Credit Card

Applying for the NAB Low Rate Credit Card is easy and can be done online with a response within 60 seconds. The application should take around 10 minutes to complete.

Eligibility criteria:

  • Be at least 18 years of age
  • Be an Australian permanent resident
  • Have a good credit history

Required documents:

  • Drivers licence
  • Financial details
  • Expenditure details
  • Employer details
  • Details of your assets

The NAB Low Rate Credit Card could be a worthwhile option for cardholders who wish to consolidate their debt while keeping costs low. As there are other low rate cards on the market, cardholders would do best to compare their options first.

If the low rate option is not for you, NAB offers a range of other credit cards including credit cards that are linked to reward programs for a more rewarding credit card experience.

Back to top
Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

239 Responses to NAB Low Rate Credit Card – Rates & Fees

  1. Default Gravatar
    Jenni | May 19, 2016


    I read something on the NAB website and would like to clarify:
    If you have a balance transfer on the card, there are no interest-free days. I’m not sure if I’m reading it right.

    E.g.: if I have a $2k balance transfer, then go and purchase $150 worth of goods, do I not get the 55 days interest-free on the goods purchased?

    It is a little confusing.

    Kind regards

    • Staff
      May | May 20, 2016

      Hi Jenni,

      Thanks for your question.

      Yes, you’re correct, with NAB Low Rate Card, you won’t receive interest-free days while you have a balance transfer – to take advantage of the 0% interest for a promo period of 15 months.

      Interest-free days is actually a permanent feature of the card, unlike the 0% interest on BT for 15 months. This interest-free days period gives you the time of purchasing without interest. However, this benefit will only work if you pay your outstanding balance in full by the payment due date.

      Given that requirement, the interest-free days period will not work because of the “concurrent balance transfer” you have on the card. To know more about the interest-free days and how it works, please feel free to visit this page.

      I hope this clarifies your confusion.


    • Default Gravatar
      Jenni | May 20, 2016

      Ok, so I just find it a little misleading. It says 15 months 0% on balance transfers, AND 15 months 0% on purchases.

      But from what you said you can’t have both at the same time? But this is what they advertise!

      Sorry if its sounds like a silly question, but it just doesn’t make sense!


    • Staff
      May | May 20, 2016

      Hi Jenni,

      Thanks for replying back and I’m sorry if I haven’t mentioned the 0% interest rate on purchases in my first reply.

      For this card, you can enjoy the 0% interest rate on balance transfers and purchases for a promotional period of 15 months only. This means that you can take advantage of using your card on purchases without incurring interest (i.e. also while you’re having the BT on the same card). As this 0% interest offer concurrently run for BT and purchases, while on this promo period, the 55 interest-free days will not work.

      So, after 15 months, your card will revert back in attracting interest which is 13.99% for both BT and purchases. This is the only time that the 55 interest-free days will take effect. In order for this benefit to work, you must pay off your outstanding balance in full every end of the billing cycle.

      I hope this has answered your question.


  2. Default Gravatar
    Kerri | May 5, 2016

    Just wondering about the 2% balance transfer rate. Is this only charged once at balance transfer date or charged at the end of every month if the original balance has not been paid off?

    • Staff
      May | May 5, 2016

      Hi Kerri,

      Thanks for your question.

      The balance transfer fee is just a “one-time fee”. You may also check the relevant product disclosure statement (PDS) of the NAB Low Rate Credit Card and you should be able to find more information under the ‘fees and rates’ section.


  3. Default Gravatar
    Allan | April 15, 2016

    Hi Just enquiring if you have a personal loan /car is it possible to do a balance transfer for a less interest rate? Thank you.

    • Staff
      Anndy | April 15, 2016

      Hi Allan,

      Thanks for your question.

      Citi and Virgin Money credit cards allow balance transfers from personal loans. You can check this page for a range of credit cards that they offer, some of which have 0% balance transfer rate for up to 18 months.

      I hope this helps.


  4. Default Gravatar
    Jodie | March 28, 2016

    If I can only transfer 90% of my credit card limit, what happens about the other 10%? Does it stay on my original credit card and I just continue to pay that off with my current bank, or do I need to reduce my debt below the 90% first to be able to do the transfer?

    • Staff
      Sharon | March 28, 2016

      Hi Jodie, thanks for your inquiry.

      The balance will remain on your card. However, it’s your responsibility to contact the bank or credit card company to close the account yourself if you don’t want to continue paying maintenance fees on it. If you fail to close your old account after you’ve transferred your balance to a new card, this can have a negative impact on your credit score unless you’re making regularly repayments on both accounts.

      I hope this helps.


  5. Default Gravatar
    that-guy | March 21, 2016


    I want to transfer my wifes CC which are currently earning interest which is killing us.

    am I able to transfer her cards onto one card (balance of 2500) but have the card have a limit of say 5000?

    thank you

    • Default Gravatar
      lisa | March 27, 2016

      Hi their this is the first time that i am use credit card i am going to use the card for a emergency for my kids

    • Staff
      Sharon | March 27, 2016

      Hi Lisa,

      Thanks for your inquiry.

      You may check our guide for first-time credit card owners. This page will explain how a credit card works and how it can be a valuable source of funds in times of emergencies.

      I hope this has helped.


    • Staff
      Ally | March 22, 2016

      Hi there,

      Thanks for your inquiry.

      We’ve confirmed with NAB on your behalf that you can balance transfer over up to two credit cards onto a NAB credit card, as long as the account which the balance is transferred from is being held with another institution or another bank that is not affiliated with NAB, and the balance transfer amount must be 90% of the approved limit.

      I hope this answers your question.


  6. Default Gravatar
    Beizam | March 19, 2016

    I’m a long time NAB member. Current rate on my Platinum card as well as a couple of other competitor cards are killing me! I’d like to consolidate all cards including current NAB card to this one. If the answer is no I’ll just find someone else. Are you willing to keep my business?

    • Staff
      Ally | March 21, 2016

      Hi Beizam,

      Thanks for reaching out.

      Kindly note that is an online comparison service that does not represent any credit card issuer such as NAB.

      As this is something a NAB specialist would need to go through in more detail, it would be best to contact them through the number that I sent to your email for direct assistance.

      I hope this has helped.


  7. Default Gravatar
    Grub | March 17, 2016

    Can I transfer my business credit card balance

    • Staff
      Jonathan | March 18, 2016

      Hi Grub, thanks for your inquiry!

      You can transfer your business credit card balance to this NAB balance transfer offer. It is important to note that NAB only allows you to balance transfer 90% of your approved credit limit. For the full guide on balance transfers please see this page.



  8. Default Gravatar
    Alan | March 17, 2016

    Is there a “lock in” or fixed term?

    • Staff
      Jonathan | March 17, 2016

      Hi Alan, thanks for your inquiry!

      There is no fixed term required with this credit card.



  9. Default Gravatar
    Jodie | March 16, 2016

    when does the 2.5% BT fee get paid?

    • Staff
      Ally | March 16, 2016

      Hi Jodie,

      Thanks for your inquiry.

      Kindly note that is an online comparison service that does not represent any credit card issuer such as NAB.

      Nonetheless, we have checked with their agent on your behalf and they’ve confirmed that the balance transfer fee is a one off payment which is added on the first monthly payment.

      I hope this answers your question.


  10. Default Gravatar
    darren | March 15, 2016

    hi how do I pay my monthly fees. with the card I have I get a statement monthly I go to the bank to pay as I don’t have internet banking and don’t want that

    • Staff
      Debbie | March 15, 2016

      Hi Darren,

      Thanks for your inquiry.

      You can pay via the following options if you do not have internet banking:
      - using the Direct debit from an account of your choice
      - using BPAY, biller code is 1008 and your credit card number is your customer reference number
      - by post and using the reply paid envelope sent from the credit card statement
      - via Australia Post outlet with Bank@Post sign

      I hope these helps.


Credit Cards Comparison

Rates last updated May 30th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 20 months and an introductory purchase offer of 0.99% p.a. for 4 months with a low annual fee.
0.99% p.a. for 4 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
14.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
ANZ Frequent Flyer Black
Earn up to 75,000 bonus Qantas Points when you spend $2,500 within the first three months and 1.5 points per $1 spent. Get complimentary airport lounge access, 24/7 concierge with $0 annual fee in the first year.
19.99% p.a. $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question

Exciting news! is now part of the family.

Read more about what this means

Win $200!

Tell us about your health insurance and you could win.

Take our quick survey