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NAB credit card balance transfer guide

A NAB balance transfer offer can help you save on interest by offering an introductory low or 0% p.a. rate when you move existing debt onto a new card.

This gives you a set period of time when little or no interest is added to your balance, which can help you pay it off faster. At the end of the introductory period, the standard variable cash advance rate for your NAB credit card will apply to any remaining debt from your balance transfer.

Use this guide to compare balance transfer offers across NAB’s range of credit cards and learn how this process works so you can decide if it’s right for you.

Exclusive to finder.com.au - NAB Credit Card Offer

NAB Low Fee Platinum Card - Exclusive Offer

0% p.a. for 25 months
on balance transfers
Exclusive to finder.com.au

Offer ends 16 December 2018

Eligibility criteria, terms and conditions, fees and charges apply

Exclusive to finder.com.au - NAB Credit Card Offer

The NAB Low Fee Platinum Card features a range of platinum benefits and a long-term, no fee balance transfer offer exclusive to finder.com.au.

  • 0% p.a. on balance transfers for 25 months on a new NAB Low Fee Platinum Card. Reverts to cash advance rate (currently 21.74% p.a.)
  • No balance transfer fee
  • Receive seven complimentary insurance covers including overseas travel insurance, plus, access to the 24/7 NAB Concierge Service.
  • Must apply through finder.com.au to take advantage of this offer. BT must be requested upon application.
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Compare NAB balance transfer credit cards

Rates last updated December 14th, 2018
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
NAB Low Fee Platinum Card - Exclusive Offer
0% p.a. for 25 months
19.74% p.a.
$90 p.a.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee. Ends 16 December 2018
More info
NAB Low Fee Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
NAB Low Rate Credit Card
0% p.a. for 6 months with 2% balance transfer fee
0% p.a. for 6 months (reverts to 13.99% p.a.)
$59 p.a.
Receive an introductory 0% p.a. interest rate for 6 months on purchases, Visa Entertainment offers and a competitive $59 ongoing annual fee.
NAB Low Rate Platinum Card
0% p.a. for 6 months with 2% balance transfer fee
0% p.a. for 9 months (reverts to 13.99% p.a.)
$100 p.a.
Enjoy a 0% p.a. interest rate offer on purchases for 9 months and the protection of 7 complimentary insurances including overseas travel insurance.
NAB Rewards Signature Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$295 p.a.
Receive 90,000 bonus NAB Rewards points, worth over $450 in gift cards or 45,000 Velocity points when you meet the spend requirement.
NAB Rewards Platinum Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$195 p.a.
Collect 60,000 bonus points when you spend $1,000 within 60 days of account opening. Plus, receive complimentary travel and purchase insurances.
NAB Qantas Rewards Signature Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect 90,000 bonus Qantas Points when you spend $4,000 within 60 days of account opening. Plus, a $295 annual fee in the first year.
NAB Rewards Classic Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$95 p.a.
Get 30,000 bonus points when you meet the spend requirement, 0.75 NAB Rewards Points per $1 spent and a 0% p.a. balance transfer offer.
NAB Qantas Rewards Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$95 p.a.
A Visa card that offers 0.5 Qantas points per $1 spent, complimentary purchase protection insurance and up to 44 interest-free days on purchases.
NAB Qantas Rewards Premium Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$250 p.a.
Offers 30,000 bonus points when you meet the spend requirements and Qantas Points for your everyday spending. Plus a 24/7 personal concierge.

Compare up to 4 providers

Rates last updated December 14th, 2018
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
NAB Low Fee Platinum Card - Exclusive Offer
0% p.a. for 25 months
19.74% p.a.
$90 p.a.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee. Ends 16 December 2018
More info
Citi Clear Platinum Credit Card
0% p.a. for 14 months
12.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
ANZ Low Rate
0% p.a. for 15 months
12.49% p.a.
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
Citi Platinum Credit Card - Exclusive Offer
0% p.a. for 13 months
0% p.a. for 13 months (reverts to 20.99% p.a.)
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
More info
Suncorp Clear Options Platinum Credit Card - Online Offer
0% p.a. for 18 months
20.74% p.a.
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a 0% balance transfer offer and earn up to 60,000 Bonus Rewards Points. Plus, a discounted first year annual fee when you apply online.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Offers a 0% p.a. for 22 months balance transfer and an annual fee refund each year when you spend $6,000. Plus, 2 airport lounge passes every year.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus points in the first 3 months and save with a $64 first year annual fee. Plus, a long-term balance transfer offer.
St.George Vertigo Platinum - Online Offer
0% p.a. for 24 months
12.74% p.a.
$99 p.a.
Save with 0% p.a. interest for up to 24 months on balance transfers with no BT fee. Plus, platinum perks. Ends 17 December 2018.
Citi Rewards Platinum Credit Card - Online Offer
0% p.a. for 24 months with 1.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 24 month balance transfer offer, plus complimentary international travel insurance.
ANZ First Visa Credit Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Get up to 18 months interest-free on balance transfers and save with a low $30 annual fee. Plus, up to 44 days interest-free on purchases.
Westpac Low Rate Card
0% p.a. for 24 months with 1% balance transfer fee
13.49% p.a.
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and 0% p.a. for 14 months on balance transfers.
Citi Simplicity Card
0% p.a. for 6 months
19.99% p.a.
$0 p.a.
Get 0% p.a. interest for up to 6 months on balance transfers with no BT fee. Plus, a $0 annual fee for life.
Qantas Premier Everyday
0% p.a. for 9 months
0% p.a. for 9 months (reverts to 19.99% p.a.)
$49 p.a.
Take advantage of 20,000 bonus Qantas Points, a 0% p.a. purchase and balance transfer offers. Plus, complimentary overseas travel insurance.
ANZ Platinum Credit Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Receive a 0% p.a. for 18 month balance transfer offer and a $0 first year annual fee. Plus, complimentary overseas travel and medical insurance.
Qantas Premier Platinum
0% p.a. for 18 months
19.99% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Get 70,000 bonus Qantas points when you meet the spend criteria and 30,000 more when you pay the second year's annual fee (100,000 total).
Virgin Australia Velocity Flyer Card - Exclusive Offer
0% p.a. for 6 months
0% p.a. for 14 months (reverts to 20.74% p.a.)
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Save on credit card costs with half the annual fee for the first year and a 0% p.a. interest rate on purchases for 14 months.
St.George Vertigo Classic
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitively low annual fee and purchase rate.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a $64 first year annual fee and 0% p.a. balance transfer offer. Plus, receive a $129 Virgin Australia Gift Voucher each year.
Bank of Melbourne Vertigo Platinum
0% p.a. for 26 months with 2% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers 26-month balance transfer, $0 annual fee for the first year, complimentary travel insurance and access to a 24/7 personal concierge service.

Compare up to 4 providers

What you'll find in this guide?

What are the benefits of getting a balance transfer with NAB?

Transferring your debt to a NAB credit card could help you get the following benefits:

  • Save on interest. The introductory balance transfer rate can give you some temporary relief from high interest charges. You can enter details of your debt and current interest rate in the table above to see how much you can save with current NAB balance transfer offers.
  • Consolidate debts. Moving balances from a few cards to a NAB credit card means you’ll only have to make one repayment each month. It could also save you money on fees and make it easier to track your progress.
  • Pay off debt faster. During the introductory period, all or most of your repayment will go towards the original debt, which can help you pay it off faster. If you want to make the most of the balance transfer offer, you can also use this repayment calculator to work out how much you’d need to pay to clear your debt before the introductory period ends.

Are there any risks to getting a balance transfer with NAB?

As with any balance transfer, one with NAB comes with the same potential risks:

  • High standard interest rates. If you don’t pay off all your debt in the introductory period, the higher cash advance rate could quickly add to your balance and derail your repayments.
  • Temptation to spend. The low or 0% interest rate only applies to your balance transfer, so any new purchases will be charged interest and make it harder to pay off your balance.
  • Impact on your credit score. When you apply for a balance transfer, a new enquiry is added to your credit history and could lower your credit score – especially if you have applied for a lot of other cards in the recent past. Keeping your old accounts open once the debt is transferred to your NAB card could also hurt your credit score.

Is a balance transfer the right option?

Balance transfer credit cards offer the most value when you can pay off your debt before the introductory period ends. If you think it will take you longer than that or want more structured repayments, you may want to compare other debt consolidation options.

What rates and features should I look at when choosing an offer?

  • The introductory interest rate and length of the offer. In general, a 0% balance transfer rate and long introductory period offer the most potential savings. But it’s important to look at other costs and features before making a decision – especially if you can pay off your debt in a shorter amount of time.
  • The balance transfer rate. Some balance transfer offers have a one-time fee that’s calculated as a percentage of the debt you move to the new card. This fee is typically around 2% but could be higher or lower depending on the offer. If a NAB credit card has a balance transfer fee, it will be charged to your account when the balance transfer is processed.
  • The annual fee. NAB credit card annual fees are charged when you first open your account and then each year on the anniversary of that date. Make sure you factor this into your repayments when choosing a card.
  • Eligible debts. You can request a balance transfer for Australian credit card or store card accounts held with a different issuer (not NAB), as long as they are not in default.
  • Transfer limits. You can transfer a minimum of $200 and up to 90% of your approved credit limit on a new NAB credit card. Note that you won’t know your credit limit until your NAB credit card application has been approved. If you’re approved for a credit limit that’s lower than the amount you want to balance transfer, check out this guide to weigh up your options.

Application requirements for a NAB balance transfer

Most NAB balance transfer offers are only available if you request the balance transfer at the time of your application. So, when you apply for your chosen NAB credit card, you’ll need to include the amount of debt you want to transfer and details of the account.

If you don’t include the balance transfer request when you apply, call NAB on 13 22 65 to discuss your options. In some cases, you may still be able to get a balance transfer – but make sure you check what rates and fees will apply.

Other details to keep in mind

  • How long the balance transfer takes. The balance transfer process with NAB can take around two to four weeks from when you apply for the card. During this time, you’ll need to continue making any payments due on your old account/s.
  • Balance transfer activation. Note that NAB will begin the balance transfer process around five days after your card is approved, even if you have not yet used the card. When this happens and the balance transfer is processed, NAB will consider it as your agreement to the card’s terms and conditions. https://www.nab.com.au/personal/banking/credit-cards/balance-transfers/balance-transfer-terms-and-conditions
  • Minimum repayments. You’ll still need to pay at least the minimum amount listed on each statement by the due date, even if the card has a 0% introductory rate.
  • No interest-free days. NAB does not offer interest-free days for purchases if you carry a balance, which means any new purchases will be charged interest straight away.
  • Closing your old account. If you want to cancel your old account, you’ll need to do that on your own.
  • No reward points. If you get a NAB credit card that earns points, be aware that points are only earned for new purchases, so you won’t get any for your balance transfer.
  • Payment allocation. Your credit card payments automatically go towards the part of your balance that attracts the highest interest rate first. This means if you make new purchases during the introductory period, they will be paid off before the debt you transferred. This could make it harder to pay off your debt, so it’s important to think about how to manage any new purchases before you make them.

What if I already have a NAB credit card? Can existing customers still balance transfer?

If you want to move debt onto an existing NAB credit card, you may be able to get a balance transfer offer designed especially for existing customers. These are listed on the NAB website and you can apply online, through mobile banking or by calling 13 22 65.

If you already have debt on a NAB credit card, you can look at balance transfer offers from other credit card companies to find one that works for you.

Image: Shutterstock

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Amy Bradney-George

Amy is a senior writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

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8 Responses

  1. Default Gravatar
    LisaApril 8, 2017

    Applied for a 2year interest free card/balance transfer with NAB, supplied card number and balance owing. Credit arrives approved same day. How does the balance transfer take place to enable nterest free?

    • finder Customer Care
      LouApril 10, 2017Staff

      Hi Lisa,

      Thanks for your question.

      If you have applied for a balance transfer during the application process, if approved, NAB will take care of paying your old credit card provider. It’s a bank-to-bank transaction.

      However, if you did not apply for a balance transfer during application, NAB allows you to transfer a balance to a NAB credit card under the promotional rate of interest provided that it is within a 30 day period of activating the card. If you elect to transfer a balance after this 30 period, you will receive NAB’s standard rate for balance transfer for existing customers.

      Cheers,
      Anndy

  2. Default Gravatar
    ColinFebruary 13, 2017

    Can I perform a credit card balance transfer to my NAB card, on line? Thank you.

    • finder Customer Care
      LouFebruary 14, 2017Staff

      Hi Colin,

      Thanks for your question.

      Balance transfer application can be done online. However, please note that to take advantage of the 0% balance transfer offer, generally, you’ll have to request a balance transfer at the time of credit card application.

      For more information how balance transfer works and to compare balance transfer cards, you can visit this page.

      Cheers,
      Anndy

  3. Default Gravatar
    SharonApril 17, 2016

    Can you use a balance transfer to pay off a personal loan?

    • finder Customer Care
      MayApril 18, 2016Staff

      Hi Sharon,

      Thanks for your inquiry.

      You can actually transfer your personal loan balance to a credit card and the Citi and Virgin Money credit cards allow you to do that. Please feel free to check this link to compare your options.

      Hope this helps.

      Cheers,
      May

  4. Default Gravatar
    HeatherAugust 30, 2011

    can I transfer money from NAB to my sons a/c with Heritage B.S.

    • finder Customer Care
      JeremyAugust 31, 2011Staff

      Hi Heather

      Just to confirm – do you mean do a credit card balance transfer from NAB to Heritage Building Society? If so, it’s only possible if both cards are in your name.

      Cheers

      Jeremy

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