NAB Low Fee Card – Details and Application

Information verified correct on September 23rd, 2016
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Reduce your expenses with a low annual fee card and introductory offers on purchases and balance transfers with the NAB Low Fee Card.

NAB Low Fee Card provides an affordable option which keeps the overall card expense to a minimum for just a $30 annual fee. Cardholders can further reduce their cost by using up to 44 interest-free days on the card. If used prudently, this card can help in keeping the interest cost on the card to a minimum.

The 0% p.a. purchase and balance transfer offer are available to new NAB applicants who apply by 2 October 2016. This card does not provide any reward points, complimentary insurance or other premium benefits.

Product NameNAB Low Fee 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 (19.74% p.a.)
Balance Transfer Limit90% of available credit limit
Purchase rate (p.a.)0% p.a. for 15 months (reverts to 19.74% p.a.)
Offer end date2 October 2016
Annual fee$30 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not 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 44 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.
$500
Minimum Monthly Repayment2% or $25 whichever 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.
Good
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.
$500
Annual Fee$30 p.a.
Minimum Repayment2% or $25 whichever 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.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Pros
  • A low annual fee of $30
  • Additional cardholder at no extra cost
  • 0% p.a. on balance transfers and purchases for 15 months if you apply by 2 October 2016
  • Emergency travel assistance from Visa Global Customer Assistance Services
Cons
  • There is only an interest-free period of 44 days when you make a purchase on this card.

NAB Low Fee Card review

NAB Low Fee Card is customised to help reduce the additional costs on a credit card. It offers a competitive annual fee, and the interest rate offer on purchases and balance transfers can also help keep costs low. As low fee cards seldom have reward points or complimentary insurance, this card doesn’t offer such extras.

This card can be a good buffer card to use during emergencies. It also provides competitive benefits for customers looking for a basic card with low costs.

Benefits of using a NAB Low Fee Card

  • Purchase and balance transfer offer. This card offers 0% interest rate on purchases and balance transfers for 15 months. Do take note that a one off 2% balance transfer fee applies and offer ends on 2 October 2016.
  • Low annual fee. The annual fee on the card is $30.
  • Purchase Protection Insurance. NAB Purchase Protection Insurance provides cover for three months against theft, accidental loss or loss for goods purchased anywhere in the world. This insurance is limited to a maximum amount of $100,000 within a twelve-month period.
  • Free additional cards. A supplementary card for an additional member is provided at no extra charge.
  • Interest-free days. The card comes with up to 44 interest-free days. Using this option the cardholders can ensure they never pay a single cent in interest costs for any purchase.

Features of using a NAB Low Fee Card

  • Balance transfer rate. Customers can transfer balances from other cards at an interest rate of 0% p.a. for 15 months with a one off 2% balance transfer fee.
  • Purchase rate. The ongoing purchase rate on this card is 19.74% p.a. This is also the rate to which the balance transfer will revert after the lower rate period is over.
  • Minimum credit limit. The minimum credit limit on this card is $500.
  • Card type. Customers can use payWave with Visa and can also look forward to perks courtesy of Visa Entertainment.
  • Late payment fee. Cardholders are charged $9 for late payment if their statement is not paid by the requisite date, unless their balance is less than $50.
  • Cash advance rate. The cash advance rate on this card is 21.74% p.a.
  • Interest-free days. This card offers up to 44 interest-free days. The interest-free days do not apply with an outstanding balance transfer.

How to apply for NAB Low Fee Card

If this card is suitable for your needs you can apply for it today by completing the secure online application form:

Eligibility criteria

  • Applicant must be at least 18 years of age.
  • This card is available to Australian citizen and permanent residents.
  • The applicant must have good credit rating.

Required documents

  • Personal details are required while applying. This includes name, date of birth, marital status, contact details and more. Applicants also need to provide their email address which will be used for future communication.
  • Details about the income and expenses need to be provided.
  • Name, address and phone number of the employer are needed.
  • Driver’s license or other identity documents need to be submitted.
  • If the applicant is self-employed, the name and address of the accountant are required.

A response to the application is sent within 60 seconds. If the application is approved, you’ll receive the card within 5 business days.

NAB Low Fee Card provides the option to use a credit card at a competitive annual fee. Use of interest-free days helps in reducing the interest burden. This card gives you the option to limit credit card expenses while providing benefits like Purchase Protection Insurance, contactless purchasing options, free additional card and more.

Frequently asked questions

I am working in Australia on a temporary work visa. Can I get approval for this card?

This card is not available for temporary residents. You can look at other cards for temporary residents. There might be income and employment requirements for these cards.

I am a retired person with approximate income of $32,000. Is there a minimum income or employment requirement for this card?

There is no minimum income requirement for NAB Low Fee Card. They usually look at the repaying capability of the applicant. If you have sufficient and sustainable income source to service the debt, you should not have any issues in this case.

How much amount can I balance transfer?

Balance transfer is usually limited to a percentage of the maximum credit limit approved for the card. For a NAB card you can transfer up to 90% of your approved credit limit. The maximum credit limit is based on the financial situation of the applicant. You can also look at other balance transfer cards with high interest-free periods if you are specifically looking for balance transfer cards.

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66 Responses to NAB Low Fee Card – Details and Application

  1. Default Gravatar
    Marshel | September 13, 2016

    Hi,

    Can i also use this card overseas or in other countries?

    Regards,

    MR

    • Default Gravatar
      | September 13, 2016

      Hi Marshel,

      Thanks for your question.

      Yes, you can use NAB Low Fee Card overseas where VISA is accepted. However, please note that it charges foreign currency conversion fee as well as overseas ATM balance check and withdrawal fees.

      Cheers,
      Anndy

  2. Default Gravatar
    Matthew | September 12, 2016

    When applying for the card , do I have to give my employers details
    Thanks

    • Default Gravatar
      | September 13, 2016

      Hi Matthew,

      Thanks for your question.

      When you apply for NAB Low Fee Card, one of the requirements is for you to provide the name, address and phone number of your employer.

      Cheers,
      Anndy

  3. Default Gravatar
    Xyz | August 5, 2016

    I want to apply this card with balance transfer request. If i use this money will that be 15 months interest free too?? Also it says 45 days interest free thing but not on cash advances. what does that mean??? Also this thing which is written with the card with one time 2%off on cash advances ..what does that mean??

    • Staff
      May | August 7, 2016

      Hi Xyz,

      Thanks for your questions.

      44 days interest-free period
      For the NAB Low Fee Card, the 44 days interest-free period is not applied on cash advances, the same is true for all other credit cards. The 44 days interest-free period is applicable for purchases only. To receive interest-free days you must repay your account’s outstanding balance in full in the previous month. This feature will also not be in effect if the card still offers 0% interest on purchases.

      0% p.a. interest on purchases
      But since this NAB Low Fee Card offers 0% p.a. interest on purchases, you have 15 months to enjoy using this card on purchases without being charged interest. When the 15-month period ends, you’ll be charged 19.74% p.a. interest on all purchases you make if you can’t pay your card in full at the end of the payment cycle.

      2% one-time balance transfer fee
      Meantime, the one-time 2% fee is for applied for the balance transfer not on cash advances. A credit card balance transfer is the process where you transfer the balance (any money you owe on your current credit card) to a new credit card with another credit card institution. For instance, this NAB Low Fee Card, it offers 0% p.a. interest on balance transfer for 15 months with a one-off 2% balance transfer fee. This means that you have 15 months to pay down as much of the debt as possible before NAB begins to charge interest of 19.74% p.a. Please note that you have to pay a fee for conducting the BT, that is a one-time 2% of the total balance transfer amount.

      Cash advance fee and interest
      So, if you will use NAB Low Fee Card to get a cash advance, you’ll be charged interest of 21.74% p.a. and a cash advance fee of 2% or $2.50, whichever is greater.

      I hope this has answered your questions.

      Cheers,
      May

    • Default Gravatar
      Joan | August 26, 2016

      can I get a cash advance from an ATM or over the counter as soon as i receive my card. i am a new credit card holder thank you Joan

    • Staff
      May | August 26, 2016

      Hi Joan,

      Thank you for your question.

      Yes, you can get a cash advance from this NAB Low Fee Card through ATMs and/or over the counter. Please keep in mind though that you’ll be charged interest of 21.74% p.a. and a fee of 2% or $2.50, whichever is greater each time you make cash advances.

      Cheers,
      May

  4. Default Gravatar
    John | August 1, 2016

    Hi,
    If I applied for this card and was given a $10,000 credit limit could I buy one item at $10,000 and pay it off over 15 months and pay no interest?
    Thanks

    • Staff
      May | August 2, 2016

      Hi John,

      Thanks for your inquiry.

      Basically, you can do that. The 0% interest rate on purchases for a set period of time (or for 15 months for this NAB Low Fee Card) takes effect after the activation of the card.

      Just be mindful though that after 15 months, your NAB Low Fee card will revert to 19.74% p.a. interest rate on purchases.

      Cheers,
      May

  5. Default Gravatar
    | June 12, 2016

    For how long can I use the 0%purchase rate. Is it just a one off or can I use this option for the life of the card?

    • Staff
      Anndy | June 13, 2016

      Hi Andy,

      Thanks for your question.

      The 0% p.a. purchase rate for NAB Low Fee Card is only good for 15 months as a promotional offer by the bank. After 15 months, the purchase rate will revert to 19.74% p.a. And yes, it is just a one-time offer for new customers.

      Cheers,
      Anndy

  6. Default Gravatar
    | June 3, 2016

    Hi,
    Is it possible to only use the 0% purchases for 15 months without opting for the balance transfer option?
    Please advise
    Thanks
    Joseph

    • Staff
      Ysa | June 6, 2016

      Hi Joseph,

      Thanks for your question.

      Yes, it is possible. If you do not wish to do a balance transfer, all should be fine.
      You will still be entitled for the NAB’s promotional offers on purchases and balance transfers, as long as you are approved for the credit card.

      I hope this helps.

      Cheers,
      Ysa

  7. Default Gravatar
    Alexander | May 31, 2016

    If I do a balance transfer and don’t pay total amount off within the 15 months, will the higher interest rate be charged to total balance transfer or only what is remaining to be paid off?

    • Staff
      Anndy | May 31, 2016

      Hi Alexander,

      Thanks for your comment.

      After 15 months, only the remaining balance of the amount you transferred will attract an interest of 19.74% p.a. which is the balance transfer revert rate.

      I hope this helps.

      Cheers,
      Anndy

  8. Default Gravatar
    Julie | February 24, 2015

    I am after a credit card with 0% purchase and 0% balance transfer rate. NAB seems to have the best credit card on offer but wanted to check to see if there was another card you could recommend?

    Thanks,
    Julie

    • Staff
      Jonathan | February 25, 2015

      Hi Julie, thanks for your inquiry!

      Please note that we are only licensed to provide general advice regarding the products we display. Depending on the credit card usage needs the combination of interest rates and features will vary. Please see this page for more a list of Best Credit Cards. You can compare cards on attributes such as balance transfer rates, interest rate and annual fees.

      Cheers,

      Jonathan

  9. Default Gravatar
    Randeep | August 25, 2014

    I’m overseas student (573 subclass)earning 34,000 p.a. Can I apply for this card. ?

    • Staff
      Shirley | August 27, 2014

      Hi Randeep,

      Thanks for your question.

      Unfortunately this card is not available for temporary residents. Please see this page for providers that may be able to help.

      Cheers,
      Shirley

  10. Default Gravatar
    cynthia | November 15, 2013

    Hi. I just applied for a credit card and I exceeded the attempts to put my verification number in and I have now received a new number, its 2418. Would you please be able to tell me if I have been approved or not. Thank you.

    • Staff
      Jacob | November 15, 2013

      Hi Cynthia.

      We would love to be able to help, but you will need to contact the card issuer directly for an answer to your question.

      You can find contact numbers on this page.

      Thanks for your question.

Credit Cards Comparison

Rates last updated September 23rd, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 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

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au 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.

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