NAB Low Rate Visa Credit Card
Posted September 21st, 2009
and last modified March 28th, 2012
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What happens when I click Apply Now?
- Clicking Apply 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 receive your credit card in the mail within 1-2 weeks
Pros
- 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!
- Incredibly low annual fee
Cons
- No rewards program
Overall
The NAB Low Rate is currently one of the best 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
The NAB Low Rate Visa Credit Card has a low rate on purchases so you can get more out of life.
The NAB Low Interest Visa Card is also a great low rate credit card with a low annual fee.
Interest Rates, Fees & Charges
| Balance Transfer Rate |  |
4.99% p.a. for 6 months |
|---|---|---|
| Interest Rate on Purchases | |
12.99% p.a. |
| Annual Fee | |
$59 |
| Interest Free Period | |
up to 55 days |
| Cash Advance Rate | |
21.74% p.a. |
| Card Type | |
Standard |
| Credit Card Type | |
Visa |
| Rewards Program | |
No |
| Additional Cardholder Fee | |
$0 p.a. |
Product Features
- Get back to basics with a low 12.99% p.a. on purchases.
- Cash if you need it at 21.74% p.a.
- An additional cardholder at no extra cost.
- Worldwide acceptance at over 22 million locations.
- Up to 55 days interest free on purchases.
- Choose from groovy silver or hot pink card designs
- Take advantage of the low annual card fee of $59.
The savings on interest makes this credit card a great choice for everyday use provided you keep your balance as low as possible.
With the NAB Low Interest Visa Card you can benefit from more features such as:
- Convenient banking with NAB Internet and Telephone Banking
- Secure online shopping when you register for free with Verified by Visa
- Emergency travel assistance 24 hours a day, 7 days a week
What can I do to avoid or reduce my interest charges?
You can avoid or reduce interest charges by:
- using a credit card with an interest free period for purchases
- always paying off the full closing balance of your last statement by the payment due date (within cut off times)
- avoiding cash advance and cash equivalent transactions (as these generate interest as soon as they are assigned to your account)
Read the NAB Low Rate Visa Card terms and conditions.
| Minimum Age | 18 years of age | |
|---|---|---|
| Available to Temporary Residents | No | |
| Credit Rating Requirement | Good | |
| Min Credit Limit | $500 |
| Annual Fee | $59 p.a. | |
|---|---|---|
| Minimum Repayment | 2.50% | |
| Interest Charged From | Purchase Date | |
| Late Payment Fee | $5.00 | |
| Over Limit Fee | $0 | |
| Overseas Emergency Replacement | $100 | |
| Overseas ATM Balance check | $0 | |
| Overseas ATM Withdrawal | $4.00 | |
| Gambling Transactions Allowed | No | |
| Gambling Transactions Interest Rate | 0.00% |
I currently have a NAB visa card. Am I able to transfer the balance onto this new card/offer?
Thanks
Am I able to transfer the balance of my nab credit card to a nab low rate card or do I have to look at transferring to another bank.
Hi Chris
Thanks for your comment :)
The NAB Balance Transfer Terms & Conditions state that the balance transfer option is only available if the nominated accounts are non-NAB credit cards or store card accounts issued in Australia. So in your case, you would not be able to transfer the balance of your existing NAB credit card to the NAB Low Rate.
I hope this helps
Cheers
Jeremy
Hi If i balance transfer to one of your credit cards for more than the low interest offer period will the balance be charge at a purchase rate or a cash advanced rate
Hi Damien
Thanks for your question
NAB Credit Cards have been revamped and they now revert to the purchase interest rate at the end of the balance transfer period.
Cheers,
Jeremy
Hi,
Is the offer of 2.99% still going as there is conflicting information on this website. In one section it states the offer has expired already however under the low interest rate card section it states that the offer is on until December 2011. Can you please clarify this.
Thanks
Hi Linda
The NAB Low Rate currently offers 2.99% p.a. on purchases for your first year if you apply by 14 December 2011
Cheers
Jeremy
can you balance transfer a personal loan for $5000
Hi Will
I know that you can do a balance transfer of a personal loan with Citibank credit cards, but as far as I’m aware this is not available with NAB.
Cheers
Jeremy
Hi, I have applied for one of these cards and got a confirmation saying I would get an email with my reference number. I have written down the reference number which was lucky as I never received the email. How do I check my application to make sure I did not make a mistake with my email?
Thank you Kindly
Hi Keri
Thanks for your e-mail
You can give customer service a call and they should be able to check on your credit card application status for you
Cheers
Jeremy
Thanks Jeremy, I actually called them up last Friday and am just waiting on my paperwork now :-)
Hi Jeremy,
You mentioned that at the end of the balance transfer period, the balance will be charged at purchase rate. The purchase rate after the first 6 months, would it be 2.99% (special rate) or normal rate of 13.49%?
Cheers – Yati
does the special offer apply to cash advances or is cash advances always the set rate?
Hi Jodie
The special introductory purchase interest rate excludes cash advances and balance transfers.
Cheers
Jeremy
Can I change from current Nab platinum mastercard to this card as an existing customer? thanks Annabel
Hi Annabel
Thanks so much for your comment
You are unable to a balance transfer from your existing NAB credit card to a new NAB credit card, however, you are still able to apply for the credit card as an existing customer.
Cheers
Jeremy
Hi Yati
The rate will revert to the normal purchase rate
Cheers
Jeremy
At what rate are monthly repayments on the outstanding balance calculated? If my outstanding balance was $3000 how much would pay per month
Hi Anthony,
According to NAB, interest is calculated: “by applying the relevant daily percentage rates (the accounts annual % rate divided by 365) to the total aggregated balance of the account for that period. The aggregate balance includes purchase, cash advance and special balances and any interest charges shown on a statement which are outstanding.” Hope this helps.
Cheers
Jeremy
Is this offer of 2.99% for first 12 months still available?
Hi,
Yes it is, but only on applications approved before the 1st of April 2012. Cheers.
Jeremy