NAB Low Rate Credit Card - Balance Transfer Exclusive Offer

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Terms and conditions apply

Balance transfer rate for 36 months with no balance transfer fee: 5.99% 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

Save with a $0 first-year annual fee and a 5.99% balance transfer offer for the first 36 months.

Available exclusively through Finder, the NAB Low Rate credit card offers a few ways to save on costs, including a waived annual fee for the first year (reverts to $59 p.a. thereafter) and low variable interest rates on purchases and balance transfers. Right now, it offers a 5.99% p.a. interest rate on balance transfers for the first 36 months (with no balance transfer fee) when you apply through the link on Finder.

While some balance transfer offers give you 0% interest, this is still a competitive rate, and the lack of a balance transfer fee adds to its value. However, keep in mind that any unpaid balance at the end of the introductory period will attract a variable cash advance rate of 21.74% p.a. And while you have an outstanding balance transfer, you’ll only get the interest-free days on purchases if you pay the required amount listed on your statement in full by the due date.

Pros

$0 annual fee for the first year ($59 p.a. thereafter)
5.99% p.a. on balance transfers for the first 36 months, with no balance transfer fee
Competitive purchase rate

Cons

No rewards program or travel insurance

Details

Product details

Product Name	NAB Low Rate Credit Card - Balance Transfer Exclusive Offer
Balance transfer rate p.a.	5.99% for 36 months, then 21.74%
Balance transfer limit	90% of available limit
Purchase rate p.a.	Purchase rate p.a.13.49%
Interest-free days	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

Eligibility

Available to temporary residents	Yes - Conditions apply
Joint application	No

Rewards

Bonus points	N/A
Rewards points cap

Fees

Annual fee	$0 first year ($59 after)
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	3.5%
Cash advance fee	3.5% of transaction value or $3.50, whichever is greater
Overseas ATM withdrawal fee	$5
Additional cardholder fee	$0
Number of additional cardholders	1

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

Exclusive offer. This NAB Low Rate credit card offer is only available to new customers who apply through the link on Finder.
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 to your balance transfer credit card.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, date of birth, email address, phone number, residential address and number of dependents. If you're new to NAB, you also need to provide a valid form of ID, such as your driver's licence, passport or Medicare card.
Employment details. You need to provide your salary, current job title, length of employment and your employer's contact details. You may also be asked for recent payslips or bank statements to help verify these details.
Financial details. This covers any other forms of income, such as pensions or government payments, as well as savings or other assets. You also need to share details of existing debts, loans, credit cards and other liabilities, as well as an estimate of regular household expenses such as mortgage or rental payments, bills and groceries.
Balance transfer details. If you want to take advantage of the balance transfer, you must include your balance transfer request when you apply for this card by providing the amount of debt you want to transfer and the account/s details.

Go to NAB's site More info

Card benefits

Exclusive balance transfer offer. You'll get 5.99% p.a. interest rate on balance transfers for the first 36 months (with no balance transfer fee) when you apply through the link on Finder and are approved for this card. At the end of the promotional period, the unpaid balance transfer amount will attract the card's variable cash advance rate of 21.74% p.a. and you must still make the minimum repayment.
$0 annual fee for the first year. New cardholders can save with NAB Low Rate's waived annual fee for the first year. An annual fee of $59 p.a. applies, thereafter.

Low purchase rate. This card has a relatively low variable purchase rate of 13.49% p.a.
Interest-free period. You can get up to 55 days interest-free on purchases when you pay the interest-free days payment listed on your statement by the due date. This includes if you have a balance transfer, as long as you meet that repayment requirement.
Visa perks. Take advantage of promotions on shows, events, experiences and more with Visa Offers + Perks and enjoy a range of travel and retail offers listed on the Visa website. With a Visa card, you can also make purchases around the world and enjoy contactless payments.
Additional cardholder. With the NAB Low Rate credit card, you can add an additional cardholder at no extra cost. This can come in handy if you use the account for shared expenses, but remember that the primary cardholder is held accountable for all of the transactions made on this account.
Mobile contactless payments. You can link your NAB credit card with Samsung Pay, Apple Pay, Google Pay, Fitbit Pay or Garmin Pay to make contactless payments using your qualifying device at the checkout.

Rates & fees

Annual fee. Outside of any promotions, the NAB Low Rate credit 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 3.5% of the transaction value.

Cash advance rate. If you use this card to make a cash advance (such as an ATM withdrawal), you'll be charged the variable cash advance rate of 21.74% p.a.
Credit limit. This card has a minimum credit limit of $1,000 and a maximum credit limit of $30,000.

Go to NAB's site More info

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. NAB Low Rate Credit Card information PDF
2. NAB Low Rate Credit Card TMD

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NAB Low Rate Credit Card – Balance Transfer Exclusive Offer

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Sources

Sources

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