In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.
NAB Low Rate Credit Card
Terms and conditions apply
Balance transfer rate for 28 months with 2% balance transfer fee
0% p.a.
Purchase rate
13.49% p.a.
Annual fee for the first year ($59 p.a. thereafter)
$0 p.a.
Interest-free on purchases
Up to 55 days

Our verdict

A no-frills card offering a $0 first-year annual fee and a competitive 28 month interest-free balance transfer, with a 2% balance transfer fee.

The NAB Low Rate credit card gives you a few ways to save on costs, including 0% p.a. on balance transfers for 28 months, a $0 first-year annual fee and a low variable interest rate on purchases. To give you an idea of your potential savings with the balance transfer offer, if you wanted to transfer $5,000 and were currently being charged 20.07% p.a. interest, you could save around $1,776.81 over 28 months. The $0 first-year annual fee could also help cut down on other card costs but you’ll have to pay the standard $59 annual fee after the first year.


  • 0% p.a. on balance transfers for 28 months
  • $0 annual fee for the first year ($59 p.a. thereafter)
  • Free additional cardholder


  • Charges a one-time 2% balance transfer fee
  • No rewards program or travel insurance

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

The NAB Low Rate credit card gives you a mix of low-cost and simple credit card features, with a low variable 13.49% p.a. interest rate for purchases and a $59 annual fee that’s waived in the first year.


Product details

Product Name NAB Low Rate Credit Card
Balance transfer rate p.a. 0% for 28 months with 2% balance transfer fee, then 21.74%
Balance transfer limit 90% of available limit
Purchase rate p.a. 13.49%
Interest-free period Up to 55 days on purchases
Cash advance rate p.a. 21.74%
Min credit limit $1,000
Max credit limit $30,000
Card type Visa


Available to temporary residents Yes - Conditions apply
Joint application No


Bonus points N/A


Annual fee $0 first year ($59 after)
Minimum monthly repayment 2% of the closing balance or $25, whichever is greater
Late payment fee $15
Foreign currency conversion fee 3%
Cash advance fee 3% or $3, whichever is greater
Overseas ATM withdrawal fee $5
Additional cardholder fee $0
Number of additional cardholders 1

Well done, NAB!

The NAB Low Rate Card offered a very competitive long-term 0% balance transfer offer for the period analysed. A previous winner in this category, it also scored highly for its low purchase rate and relatively low annual fee.

Full list of 2024 winners

How to apply

You can apply for the NAB Low Rate credit card in around 15 minutes and should receive a response within 60 seconds of submitting the secure application form. Get started by making sure you meet the following requirements and have the necessary details and documents on hand.

Eligibility criteria

  • Residency. You can apply if you're an Australian citizen or permanent resident. If you are not a citizen or permanent resident, you will need to have an acceptable visa. Many visas are acceptable but the following are not: Visitor Visa (exception, a Special Category Visa - NZ Citizen is acceptable), Working Holiday, Student, Exchange/gap year, Transit/short stay/seasonal, and Bridging.
  • Eligible balance transfer debt. With NAB, you can transfer up to 90% of your approved credit limit from non-NAB accounts.

Card benefits

  • 0% p.a. balance transfer offer. You can pay off existing debt with this card's long-term balance transfer offer of 0% p.a. for the first 28 months with a 2% balance transfer fee. At the end of the promotional period, any remaining charges will attract the card's variable cash advance rate of 21.74% p.a. and you must still make the minimum repayment.
  • First-year annual fee waiver. Save with a $0 annual fee for the first year, reverting to $59 p.a. thereafter.

Rates & fees

  • Annual fee. Outside of any promotions, the NAB Low Rate Card charges an annual fee of $59.
  • Foreign transaction fee. If you use this card overseas or shop online in a foreign currency, you'll be charged a fee worth 3% of the transaction value.

Your reviews

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October 17, 2023


My income s from the Australian pension and English govt pension and i have a good credit score who would give me a credit card


Amy Bradney-George Finder

October 19, 2023

Hi Brian,

You can compare options in Finder’s guide to credit cards for pensioners and learn more about the requirements to apply. As some lenders may not automatically consider pension payments from overseas, it’s also a good idea to contact the lender directly before you apply for a credit card so that you can check you meet the requirements. I hope this helps.

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July 06, 2023

Does the balance I wish to transfer have to come from a credit card, or can it be from a loan account?


Richard Whitten Finder

July 13, 2023

Hello Margaret,

This card seems to be for transferring credit card debts only, not loans.


Elizabeth Barry Finder

July 10, 2023

Hi Margaret,

Thanks for your question.

The debt has to come from another credit card, but you can find other providers that allow you transfer debt from a personal loan to a credit card on this page.

I hope this helps,


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June 08, 2023

Interest-free period. Receive up to 55 interest-free days on purchases when you pay your balance in full, or if your statement shows an interest free days amount, in full, by the statement due date. Does this mean that it will only apply once your balance transfer has been paid off after 32 months or it does not apply to the balance transfer and only to other purchases? Thank you

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Amy Bradney-George Finder

June 09, 2023

Hi Annie,

You can still get interest-free days on purchases when you have a balance transfer with this credit card. According to the NAB website, you need to pay the full amount listed as the “interest-free days payment” by the due date each month to be eligible. The balance transfer amount is treated separately and would still be eligible for the introductory balance transfer offer, providing repayment requirements are met. If you have more specific questions, you can contact NAB directly on 13 22 65. I hope that helps.

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May 25, 2023

How long before I should be hearing from NAB?

Maybe my application didn’t go through properly?


Amy Bradney-George Finder

May 29, 2023

Hi Jenny,

You can call NAB on 13 22 65 to check on your credit card application. I hope that helps.



May 04, 2023

Can I transfer a payment over to my mortgage account.

Will I be charge any interest or fees, before 32 weeks.


Amy Bradney-George Finder

May 05, 2023

Hi Christopher,

Thanks for your question. It isn’t possible to do a direct transfer from a credit card to a mortgage account, as mortgage repayments should be made with cash. Using a credit card to withdraw cash from an ATM or to transfer funds to a bank account would also be considered a cash advance transaction, which attracts interest and fees straight away. So any type of cash advance transaction would not be eligible for an interest-free purchase rate offer.

If you have questions about your mortgage payments or need help, contact your lender about different options. You can also speak to a financial counsellor for free by calling 1800 007 007 or using the National Debt Helpline’s online chat service. I hope that helps.

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