NAB Premium Visa Card – Rates and Fees

Information verified correct on December 5th, 2016
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Enjoy the best of both worlds and transfer your credit card debt or save on purchase costs with 0% p.a. on balance transfers and purchases for 15 months when using the NAB Premium Card.

If you have purchases or debts to pay off, the 0% p.a. rate for 15 months on purchases and balance transfers will come in handy.

With a minimum credit limit of $6,000, the NAB Premium Card attracts a nominal annual fee and offers a host of features and benefits in return. For instance, you’ll receive up to 44 interest-free days on purchases if you continue to pay your balance in full each billing cycle.

You can add additional cardholders to your account at no extra cost, and shop with convenience with contactless Visa payWave technology.

Product NameNAB Premium Card
Balance transfer rate (p.a.)0% p.a. for 15 months with a one off 3% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit90% of available credit limit
Purchase rate (p.a.)0% p.a. for 15 months (reverts to 19.74% p.a.)
Offer end date22 January 2017
Annual fee$90 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 44 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Minimum Monthly Repayment2% or $25, whichever is greater
Card TypeVisa
Late Payment Fee$9
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Annual Fee$90 p.a.
Minimum Repayment2% or $25, whichever is greater
Late Payment Fee$9
Over Limit Fee$0
Cash Advance Fee2% or $2.50, whichever is greater
Overseas Cash Advance Fee2% or $2.50, whichever is greater
Overseas Emergency Replacement$100
Overseas ATM Balance check$1
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Fee
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • 0% p.a. on purchases and balance transfers for the first 15 months
  • This card gives you a complimentary membership to the VIP Lost Card Cover Program.

Cons

  • There is an interest-free period of only 44 days compared to other cards that offer 55 days interest-free.
  • There is a high annual fee of $90.
  • There is no rewards program and this means that you are paying excessive fees without receiving any rewards.

NAB Premium Card review

The NAB Premium Card can help keep your credit card costs to a minimum. If you have an existing debt and apply by 22 January 2017, you can repay it without incurring interest with a 0% p.a. balance transfer offer for 15 months. If you apply by this date but would rather use the card for purchases, you can avoid paying interest with a 0% purchase rate for 15 months and following interest-free days.

You'll also receive access to seven complimentary insurance covers, round-the-clock access to the NAB Service Centre and NAB Platinum Concierge Service, and complimentary VIP Lost Card Cover for the first 12 months. As a Visa card, you'll enjoy worldwide access and convenient spending thanks to Visa payWave.

Benefits of the NAB Premium Card

  • Balance transfer offer. Apply online by 22 January 2017 to receive 0% p.a. on balance transfers for 15 months. Do take note that a one off 3% balance transfer fee applies and any remaining balance at the end of the promotional period will attract the revert interest rate on cash advances. Minimum monthly repayments are required.
  • Purchase offer. Enjoy a low interest rate offer of 0% on purchases for 15 months if you apply by 22 January 2017. After the introductory period ends, the interest rate reverts to the standard purchase rate of 19.74% p.a.
  • Platinum cardholder benefits. Enjoy the benefits of a platinum card with access to the following premium services:
    • 24/7 NAB Service Centre. Got a question about your card? The NAB Service Centre team are available to chat at any time day or night.
    • NAB Platinum Concierge Service. This 24/7 service can provide you with travel, lifestyle and entertainment assistance including planning and booking travel or tickets to events, reservations at hotels and restaurants or car and limousine rental.
    • VIP Lost Card Cover. Secure Sentinel offers an all-in-one safeguard for 24/7 reassurance in the case that your belongings and wallet are lost. It keeps a confidential list of any cards that you'd want to cancel if you lost them. In the event that you lose any of the cards, Secure Sentinel will contact the card issuer(s) on your behalf to cancel the cards and help you order the replacements. You'll also receive Australian passport and embassy assistance and a temporary mobile block if your phone is stolen.
  • Complimentary insurances. When you use this card to make travel reservations in excess of $500, you'll receive overseas travel insurance. This offer covers up to $20,000 of medical expenses, travel cancellation, missed connections, collision damage, personal liability, accidental disability or death and other scenarios. Other complimentary covers include interstate flight inconvenience insurance, transport accident insurance, domestic hotel burglary insurance, purchase protection insurance, extended warranty insurance and price protection insurance.
  • Visa benefits. With Visa Front Line Access, you can reserve pre-sale tickets for some of the biggest sporting events and concerts in Australia. If you need emergency assistance when travelling, you can contact Visa Global Customer Assistance Services. Verified by Visa also ensures that you have a safe online shopping experience.
  • Fees and charges. This card attracts an annual fee of $90 and you can get additional cards without paying any extra annual fees. Some other fees and charges include a late payment fee, international transaction fee and cash advance fee.

Features of the NAB Premium Visa Card

  • Balance transfer offer. When you transfer your existing credit card debt to the NAB Premium Visa Card, you will receive 0% p.a. for 15 months with a one off 3% balance transfer fee on balance transfers. The balance transfer interest rate will revert to the cash advance rate of 21.74% p.a. after the promotional period has ended.
  • Interest rates. Enjoy 0% p.a. for 15 months (reverts to 19.74% p.a.) on purchases. ATM withdrawals and cash advance transactions will attract an interest rate of 21.74% p.a. with a fee of 2% or $2.50, whichever is greater.
  • Interest-free days. Receive up to 44 interest-free days when you repay your balance in full every statement month. While an outstanding balance is carried month to month, no interest-free days will be awarded.
  • Annual fee. This card charges an annual fee of $90.
  • Minimum credit limit. The NAB Premium Visa Card has a minimum credit limit of $6,000.
  • Currency conversion rate. Transactions made in foreign currencies will attract a fee of 3%.
  • Additional cardholder. Request 1 additional cardholder at no extra cost.

How to apply for the NAB Premium Visa Card

Applying for the NAB Premium Card is easy and an online application takes around 10 minutes to complete. To get started, click on "Go to Site" to complete and submit the secure online application form. Alternatively, you can also initiate the application process by visiting an NAB branch or over the phone. Before you apply, though, please make sure you've met the eligibility requirements and organised the necessary documents before hand:

Eligibility criteria

  • You're at least 18 years old
  • You're a permanent resident of Australia

Required documents

  • Personal information like your name, contact details and date of birth
  • Driver's licence number, passport number or Medicare card number
  • Name of employer and contact details
  • Details about your annual income
  • Monthly expenditure details
  • Details about other loans and credit cards

If  you're looking to repay your debt or make purchases without incurring interest, this card could be of interest to you. As this isn't the only card of its kind on the market, you'll need to compare a few cards to ensure you've found the right one for you.

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208 Responses to NAB Premium Visa Card – Rates and Fees

  1. Default Gravatar
    dani | July 11, 2016

    What is the maximum credit limit for NAB premium Visa?

    • Staff
      Anndy | July 14, 2016

      Hi Dani,

      Thanks for your question.

      The maximum credit limit for NAB Premium Visa Card is not specifically stated on NAB website. However, when you apply for this card, you will be given the option to apply for the maximum credit limit available to you depending on your financial situation.

      Cheers,
      Anndy

  2. Default Gravatar
    Lee | May 14, 2016

    Hi,
    Want to apply for the NAB Premium Visa card. I have a few questions. As i want to purchase a $12000 motorcycle, I can and will pay the amount within the promo.

    1. I have lived 4 years but a recent Permanent Resident of Australia, have never had a credit card, loan or finance of any sort. With a salaried job but lets assume a 60k p.a. will NAB inform me of the limit i can get before they finalise the application. As i want at least a $15000 limit

    2. Is purchasing a motorcycle an “eligible purchase”?
    3. Do i need to submit financial docs as proof? Such as bank statements?

    Thanks

    Lee

    • Staff
      Anndy | May 17, 2016

      Hi Lee,

      Thanks for your comment.

      Please note that finder.com.au is a financial comparison and information service and is not NAB.

      Once you submit your documents with NAB, their lending specialist will get in touch with you and discuss your credit card application in details, including your credit limit. If they cannot offer you the credit limit you have requested, they will offer you the maximum credit limit available to you, depending on your financial situation.

      Purchasing a motorcycle can be considered an eligible purchase subject to 0% purchase rate for 15 months.

      The necessary documents that you need to submit when applying for NAB Premium Visa Card are listed above.

      Cheers,
      Anndy

  3. Default Gravatar
    Raff | April 25, 2016

    Hi,

    Can I pay off more than the minimum monthly repayments each month?

    • Staff
      Ally | April 26, 2016

      Hi Raff,

      Thanks for your inquiry.

      Kindly note that finder.com.au is an online comparison service that does not represent any credit card issuer such as NAB.

      However, their terms and conditions state that you may pay more than the minimum required amount, if you wish.

      I have forwarded the link to your email for your reference.

      I hope this has helped.

      Cheers,
      Ally

  4. Default Gravatar
    ejay | April 16, 2016

    How can I transfer my money into another account?

    • Staff
      May | April 21, 2016

      Hi Ejay,

      Thanks for your inquiry.

      Through your Internet Banking profile, you’ll be able to send funds from your NAB Credit Card account to any other account. I have sent to your email the link where you can find the complete process of how you can transfer money to another account.

      Hope this helps.

      Cheers,
      May

  5. Default Gravatar
    ejay | April 15, 2016

    Have I been approved?

    • Staff
      Anndy | April 15, 2016

      Hi Ejay,

      Thanks for your question.

      Please note that finder.com.au is a financial comparison and information service and is not actually NAB.

      If you applied for NAB Premium Visa Card online, you should be able to get a response in 60 seconds after successfully submitting your application. If not, you may inquire about the status of your application by contacting NAB on 13 22 65.

      Hope this answers your question.

      Cheers,
      Anndy

  6. Default Gravatar
    ab | April 12, 2016

    I am confused with the 0.0% interest on purchases for 15 months, then it says you only have a 44 day interest free period on purchases.

    If I make purchases on this card in the first 15 months, will I be charged interest?

    • Default Gravatar
      Patricia | May 9, 2016

      Can I use this card to purchase a used car from a private seller.

    • Staff
      Anndy | May 9, 2016

      Hi Patricia,

      Thanks for your question.

      Yes, you may use NAB Premium Visa Card to buy a used car if your credit limit can cover the amount and if the seller accepts credit card payment. However, there are several factors to consider when using a credit card to buy a car, as discussed on this page.

      Cheers,
      Anndy

    • Staff
      May | April 12, 2016

      Hi Ab,

      Thanks for inquiring.

      With NAB Premium Visa Card, you have 15 months to enjoy using your card without being charged with interest on eligible purchases you make. After 15 months, your card will revert back to charging 19.74% p.a. interest on your outstanding balance.

      Also, when the 15-month promo period is over, the 44 interest-free days will provide you with a period of purchasing with no interest charges. The requirement for receiving this benefit is to repay your balance in full by the payment due date. You have 44 days (to use) to pay your account’s outstanding amount in full each month. Please feel free to visit this page if you’d like to know more on interest-free days / period.

      Hope this helps and clarifies any confusion you have.

      Cheers,
      May

  7. Default Gravatar
    sz | April 5, 2016

    Hi,

    I previously had a similar card with NAB but that account has been finalised and closed. Am I still considered as a new applicant and eligible to apply for this card?

    • Staff
      Sally | April 6, 2016

      Hi SZ,

      Thanks for your question.

      Whether you’re considered an eligible new customer will depend on how long ago you closed your NAB account.

      You may need to contact NAB directly to confirm this information.

      I hope this has helped.

      Cheers,

      Sally

  8. Default Gravatar
    ritchie | April 3, 2016

    Just wondering about the 15 months interest free period on purchases. Are there minimum monthly repayments or can i put various amounts of money onto the debt in that 15 month period

    • Staff
      Ally | April 4, 2016

      Hi Ritchie,

      Thanks for reaching out.

      A minimum monthly repayment of 2% or $25 (which ever is greater) must be met for the NAB Premium Visa Card.

      I hope this has helped.

      Cheers,
      Ally

  9. Default Gravatar
    Mary | March 28, 2016

    What income is required to be approved for a new credit card with NAB? If you are self funded retiree what do you put for employee in the application? Does the bank recognise the different taxes that self funded retirees pay in their income test, because other banks don’t?

    • Staff
      Debbie | April 1, 2016

      Hi Mary,

      Thanks for your inquiry.

      If you are a retiree, you may not need to fill up the employer’s details instead you can proceed with the retirement details. Regarding minimum income and the different taxes, you may need to contact NAB credit card team directly to confirm, they will be more happy to assist you with your concern.

      For an additional guide, you may check how to avoid having a credit card debt on your retirement.

      I hope this helps.

      Cheers,
      Debbie

  10. Default Gravatar
    Ruchita | February 15, 2016

    just want to know for balance transfers, amount to be transferred- will be from date of approval or date of receiving new card

    • Staff
      Jonathan | February 15, 2016

      Hi Ruchita, thanks for your inquiry!

      The balance transfer promotion begins from account opening, so when you activate your new card.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated December 5th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. 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.
19.99% p.a. 0% p.a. for 15 months $149 p.a. 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 (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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