NAB Credit Card Interest & Fee Changes

Information verified correct on April 24th, 2017

NAB is keeping the customers on track with what they want most, and that is to save money and not see any unexpected surprises appear on their credit card statements

The changes on the NAB credit card fee structure are scheduled to be effective starting January 14, 2011.

Interest and fee changes at NAB

Starting in January you will have less interest to pay on your NAB credit card. Any payments that you make from that day forward will be put towards any balances you have with the higher rate of interest before your balances that have a lower rate. This is a big change from the way things work now. Currently any payments you make are automatically allocated to the balance with the lowest interest rate.

Another change you are sure to love regards balance transfers. If you have transferred over a balance and have not been able to pay off the amount once the transfer period has ended, the remaining balance will be considered a purchase instead of a cash advance. Since the purchase rate is lower than the cash advance rate you are definitely going to save some money.

Other changes

  • The fee that is regularly charge for late payments will drop from $30 to only $5 dollars. This is a savings of about $100 if you make 4 late payments in a year.
  • There will no longer be any over limit fees. Sometimes it's difficult to keep track of your limit and with this new fee restructuring you won't have to worry about going a few dollars over your limit by mistake and then being charged for it.
  • For your convenience NAB will be sending out reminders for credit card payments by email and SMS. This will help remind customers to make their payments on time every month.

An example of how much you can save

If you have a balance transfer of $6000 and are paying an interest rate of 4.99% for a six-month period, and are making about $400 worth of purchases every month, then the repayments made are going towards the balance transfer only. The purchase balance is sitting on hold until the balance transfer has been paid off and is accruing an interest of 19.49% p.a.

Under the new system in January any payments made will go towards the balance with the highest interest rate. This means that the purchase balance in this case will be paid off first. Assuming that $550 payments are being made per month, you will end up saving about $73 during the balance transfer time period.

These NAB interest rate and fee changes are going to make a big difference in the way you use your credit card. You will have more flexibility and freedom than ever before.

Was this content helpful to you? No  Yes

Related Posts

ANZ Platinum Credit Card - Exclusive Offer
ANZ Platinum Credit Card - Exclusive Offer

Interest rate


Annual fee

St.George Vertigo Platinum
St.George Vertigo Platinum

Interest rate


Annual fee

NAB Low Rate Credit Card
NAB Low Rate Credit Card

Interest rate


Annual fee


Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

6 Responses to NAB Credit Card Interest & Fee Changes

  1. Default Gravatar
    Terry | July 10, 2013

    How is interest calculated on late payment of 3 weeks on a NAB flybuys MasterCard. Thanks.

    • Staff
      Jacob | July 11, 2013

      Hi Terry. Thanks for your question.

      If you’re three weeks overdue on your credit card statement payment, please contact your bank as soon as possible to come to a payment arrangement. If you don’t, you’ll have a default listed on your credit file and it will impact your chances of obtaining credit in the future.

      Interest is calculated by taking your total balance and multiplying it by annual percentage rate (divided by 365). This is then charged at the end of the statement period. If you have not paid your last statement then the interest charges will compound. You will also get charged late payment fees. This information will be available in your next credit card statement.

      I hope this has helped.


  2. Default Gravatar
    Chris | April 4, 2013

    Our Visa Mini Credit Card was due for payment on 26 March. Thorough inadvertence I did not pay it until 28th March. You have charged us $39.17 interest for those two (2) days.
    How is your charge justified? It represents an annual rate of six hundred percent (approximately)

    • Staff
      Jacob | April 4, 2013

      Hi Chris. I will say that we are a comparison service. There should only be a small late payment fee charged when you miss a payment. Please contact the Financial Ombudsman Service to lodge a complaint or dispute. Sorry I can’t be of more assistance. Jacob.

  3. Default Gravatar
    Warren | March 14, 2013

    I have a credit card that was lost nab cancel the card(via Vickie CARTER)
    but I HAVE NOT BEEN GIVEN A REPLACEMENT…trying and trying to contact Ian Geoghgan in Ravenshoe where my account was started.. no reply I can not access my Au. account without a credit card. Please somebody give me an answer..Warren Girle

    • Staff
      Jacob | March 14, 2013

      Hi Warren. Best to contact NAB directly. Thanks.

Ask a question