NAB credit card balance transfer guide

Information verified correct on December 4th, 2016

Repay your credit card debt faster and without high interest costs with a NAB balance transfer.

Are you suffering from fast-growing debt? Balance transfers are one way to consolidate your debt and give yourself some breathing space. If you transfer your balance to a NAB credit card with a promotional balance transfer, you could benefit from savings on interest and faster debt consolidation.

NAB Low Rate Credit Card

NAB Credit Card Offer

Apply for the NAB Low Rate card and receive a long term interest rate offer on purchases and balance transfers.

  • $59 p.a. annual fee
  • 0% p.a. for 15 months (reverts to 13.99% p.a.) on purchases
  • 0% p.a. for 15 months with a one off 3% balance transfer fee on balance transfers
  • Cash Advance Rate of 21.74% p.a.
  • Up to 55 days interest free
Rates last updated December 4th, 2016
$
% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months with a one off 3% balance transfer fee 0% p.a. for 15 months (reverts to 13.99% p.a.) $59 p.a. Go to site More info
NAB Qantas Rewards Premium Card - Exclusive Offer
Get 75,000 bonus Qantas Points plus enjoy a low promotional offer of 4.99% p.a. for 6 months on balance transfers.
4.99% p.a. for 6 months 19.99% p.a. $250 p.a. Go to site More info
NAB Low Fee Card
Low annual fee card offer with complimentary Purchase Protection Insurance.
0% p.a. for 15 months with a one off 3% balance transfer fee 0% p.a. for 15 months (reverts to 19.74% p.a.) $30 p.a. Go to site More info
NAB Premium Card
0% p.a. for 15 months on purchases and balances transfers. Benefit from platinum credit card advantages.
0% p.a. for 15 months with a one off 3% balance transfer fee 0% p.a. for 15 months (reverts to 19.74% p.a.) $90 p.a. Go to site More info
NAB Velocity Rewards Premium Card
Enjoy 25,000 bonus Velocity Points when you make an everyday purchase within the first 90 days.
0% p.a. for 15 months with a one off 3% balance transfer fee 0% p.a. for 15 months (reverts to 19.99% p.a.) $150 p.a. Go to site More info
NAB Qantas Rewards Premium Card
Get 25,000 bonus Qantas Points plus enjoy a low promotional offer of 0% p.a. for 15 months on purchases and balance transfers.
0% p.a. for 15 months with a one-off 3%% balance transfer fee 0% p.a. for 15 months (reverts to 19.99% p.a.) $250 p.a. Go to site More info
NAB Qantas Rewards Card
Receive 15,000 bonus Qantas Points plus a low introductory offer on purchases and balance transfers. Plus earn 1 Qantas Point per $1 spent on eligible purchases.
0% p.a. for 15 months with a one off 3% balance transfer fee 0% p.a. for 15 months (reverts to 19.99% p.a.) $95 p.a. Go to site More info
NAB Velocity Rewards Card
Receive 15,000 bonus Velocity Points and a low annual fee and 0% p.a. for 15 months on balance transfers.
0% p.a. for 15 months with a one off 3% balance transfer fee 0% p.a. for 15 months (reverts to 19.99% p.a.) $95 p.a. Go to site More info
NAB flybuys Rewards Card
0% p.a. for 15 months on purchases and balance transfers. Also receive 1 flybuys point for every $1 you spend on your everyday purchases.
0% p.a. for 15 months with a one off 3% balance transfer fee 0% p.a. for 15 months (reverts to 19.99% p.a.) $95 p.a. Go to site More info
NAB Qantas Business Card
Enjoy uncapped rewards points earning through the Qantas Frequent Flyer program.
18.50% p.a. $144 p.a. More info
NAB Business Payments Card
Enjoy no monthly card fee and no fee for additional cardholders.
15.50% p.a. $0 p.a. More info
NAB Business Access Card
Offers a low annual fee with a competitive interest rate on purchases and cash advances.
13.25% p.a. $60 p.a. More info
NAB Business Card
A charge card that gives you up to 35 days interest free on business purchases.
15.50% p.a. $108 p.a. More info
NAB Purchasing and Corporate Card
Monitor your business-related expenses with a low interest rate on purchases and cash advances.
13% p.a. More info
 
Rates last updated December 4th, 2016
$
% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Offers 0% p.a. interest rate on balance transfers for 18 months to help you manage your existing credit card balance with a reduced annual fee in the first year.
0% p.a. for 18 months 20.74% p.a. $64 p.a. annual fee for the first year ($129 p.a. thereafter) 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.
0% p.a. for 15 months 19.99% p.a. $149 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 12 months 0% p.a. for 3 months (reverts to 19.74% p.a.) $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months with a one off 3% balance transfer fee 0% p.a. for 15 months (reverts to 13.99% p.a.) $59 p.a. Go to site More info
NAB Low Fee Card
Enjoy a low introductory rate of 0% p.a. on balance transfers and purchases for 15 months.
0% p.a. for 15 months with a one off 3% balance transfer fee 0% p.a. for 15 months (reverts to 19.74% p.a.) $30 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.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 18 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
Virgin No Annual Fee Credit Card
Enjoy a long term balance transfer plus a $100 cashback offer (spend criteria applies) and never pay an annual fee for this card.
0% p.a. for 18 months with 2% balance transfer fee 18.99% p.a. $0 p.a. Go to site More info
Westpac Low Rate Card
A no frills credit card with an introductory rate of 0% p.a. for 16 months on balance transfers and 1% p.a. for 12 months on purchases.
0% p.a. for 16 months 1% p.a. for 12 months (reverts to 13.49% p.a.) $59 p.a. Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
0% p.a. for 12 months with 1% balance transfer fee 14.99% p.a. $0 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for up to 12 months on purchases.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
Bank of Melbourne Vertigo Platinum
A platinum card with a low balance transfer offer of 0% p.a. interest for 18 months and 1% p.a. for 12 months on purchases combined with complimentary insurance covers.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
BankSA Vertigo Visa
A low interest rate card with a low annual fee, a long term balance transfer offer of 0% p.a. for 18 months and an introductory offer of 1% p.a. for 12 months on purchases.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
Citi Simplicity Card
Take advantage of the 0% p.a. for 9 months offer on balance transfers, a low interest rate on purchases, an annual fee waiver for life, plus 5% cashback on retail purchases.
0% p.a. for 9 months 19.99% p.a. $0 p.a. Go to site More info

Balance transfers with NAB

balance transfer can be your solution to clearing debt. If you have a debt owing on a credit card and you’re being charged a high rate of interest, a balance transfer allows you to transfer the debt to a new credit card with a promotional low rate of interest. The promotional time period allows you to make payments towards your debt without the extra cost of accumulating interest. If you’re looking to complete a balance transfer with NAB, here are some of the features, benefits and terms and conditions you’ll want to keep in mind.

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

NAB offers competitive rates to customers looking to complete a balance transfer. We’ve summarised some of the benefits that appear across all three credit cards.

  • Revert rate. If you still owe an amount on your balance transfer at the end of the promotion period, NAB will treat it as a purchase instead of a cash advance--which keeps the NAB low rate card as an attractive option.
  • Transfers are quick and easy. You can apply for balance transfers when you apply for a NAB credit card. The application generally only takes 10 minutes to complete. Once your application is approved, your card will take 5-7 days to arrive.
  • Mobile banking. Bank on the go with NAB mobile banking. Check your balance, make repayments or transfer funds with NAB Internet banking.

Before going ahead, what else do I need to know?

  • Eligible banks. NAB does not accept balance transfers from all institutions. Check if your bank is eligible here.
  • Minimum transfer. Each balance transfer amount must be $200 or more.
  • You credit card limit must be more than the amount you are wishing to transfer. NAB does not offer 100% of your credit limit to be used as a balance transfer and may refuse any balance transfer request at its discretion.
  • Multiple transfers. No more than two balance transfers are permitted.
  • Interest-free days. Interest-free days on purchases only apply when you pay your account in full by the due date each month. This includes any unpaid balance transfer amounts.
  • Closing your old account. You’ll need to close your old account by contacting the bank that issued your old credit card. NAB does not do this automatically.
  • Look out for promotions. NAB frequently offers promotions such as  0% p.a. on balance transfers for 24 months.
  • Balance transfer fee. NAB does not charge a balance transfer fee.

How to apply for an NAB balance transfer

The application process will take 10 minutes to complete. A reply will be sent within 60 seconds stating whether the application was successful or not. You will then need to complete the verification online and your card will arrive in the mail within 5-7 days. You’ll need to have the following information handy so you can answer the questions on the application form:

  • Your current non-NAB credit card or store card
  • The card number(s)
  • The amount you'd like to transfer onto your new NAB card
  • Bank statements or a pay slip

The application process

  1. Apply for the credit card. Once you’ve decided which credit card is right for you, start the application process.
  2. Read and accept the terms and conditions. Make sure you’ve read over and understood the fine print to ensure that the card can support your balance.
  3. Decide if you would prefer MasterCard or Visa. NAB gives customers the option to choose a MasterCard or Visa, so decide before applying.
  4. Fill in your personal details. This includes your full name, contact details and driver’s licence number.NAB-balance-transfer-step-1
  5. Provide employment and financial information. You will need to answer questions about your employment, your income, what you spend and details regarding financial stability. Make sure to have these details handy before beginning the application.NAB-balance-transfer-step-3 NAB-balance-transfer-step-2
  6. Decide your card options. You’ll then be asked to select your limit options, if you would like an additional cardholder and whether you would like to complete a balance transfer.NAB-balance-transfer-step-3
  7. Confirm. Confirm the information is correct before completing your application. Double-check that you’ve attached all of the necessary documents, as this could impact the success of your application.NAB-balance-transfer-step-5

If you’re carrying a balance that’s collecting high interest, a balance transfer could be the resolution you need to start consolidating your debt. If you decide to conduct a balance transfer with NAB, make sure that you meet the eligibility requirements, have the necessary documents and understand the terms and conditions before applying.

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Sally McMullen

Sally McMullen is a journalist at finder.com.au who is a credit cards, frequent flyer and travel money expert by day and music maven by night.

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4 Responses to NAB credit card balance transfer guide

  1. Default Gravatar
    Sharon | April 17, 2016

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

    • Staff
      May | April 18, 2016

      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

  2. Default Gravatar
    Heather | August 30, 2011

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

    • Staff
      Jeremy | August 31, 2011

      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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