Save on credit card costs with a low annual fee and an introductory offer on balance transfers with the NAB Low Fee Card.
The NAB Low Fee Card offers affordability, with a competitive annual fee of $30. You can also keep your interest costs down for new purchases, with up to 44 interest-free days if you pay your balance in full by the due date on each statement.
If your goal is to pay off existing credit card debt, you can currently take advantage of a 0% p.a. for the first 16 months balance transfer offer (with a 2% balance transfer fee). This offer is available to new NAB applicants who perform a balance transfer at the time of their credit card application.
|Product Name||NAB Low Fee Card|
|Balance transfer rate (p.a.)||0% p.a. for 16 months with 2% balance transfer fee|
|Balance Transfer Revert Rate|
The interest rate after the balance transfer ends.
|Cash Advance Rate (21.74% p.a.)|
|Balance Transfer Limit||90% of available credit limit|
|Purchase rate (p.a.)||19.74% p.a.|
|Annual fee||$30 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.
|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 Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||Yes - Conditions apply|
|Credit Rating Requirement||Good|
|Annual fee||$30 p.a.|
|Late Payment Fee||$15|
|Cash Advance Fee||2% or $2.50, whichever is greater|
|Overseas Cash Advance Fee||2% or $2.50, whichever is greater|
|Overseas ATM Withdrawal Fee||$5|
|Foreign Currency Conversion Fee|
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.
|Gambling Transactions Allowed||Yes|
|Additional Cardholder Fee||$0|
|Number of Additional Cardholders||1|
- A low annual fee of $30
- 0% p.a. on balance transfers for 16 months if you apply and complete the balance transfer at the time of the credit card application
- Additional cardholder at no extra cost
- There is only an interest-free period of up to 44 days on purchases.
- This card has no rewards program which means there's no incentive for spending.
- This card comes with a one-time 2% balance transfer fee.
NAB Low Fee Card review
The NAB Low Fee Card can help reduce the cost of having a credit card, with a competitive annual fee and promotional balance transfer offer. As low fee cards seldom have reward points or complimentary insurance, this card doesn't offer such extras. This card provides competitive benefits for customers looking for a basic card with low costs.
Benefits of using a NAB Low Fee Card
- Special balance transfer offer. This card offers a 0% p.a. interest rate on balance transfers for the first 16 months, which reverts to the cash advance rate after that period. This special balance transfer rate is only applicable if you complete the balance transfer at the time of your credit card application. Take note that a one-time 2% balance transfer fee applies and minimum monthly repayments are required.
- Low annual fee. The annual fee on the card is $30.
- Purchase Protection Insurance. NAB Purchase Protection Insurance provides cover for three months against theft, accidental damage or loss for goods purchased anywhere in the world. This insurance is limited to a maximum amount of $100,000 within a twelve-month period.
- Free additional card. A supplementary card for an additional member can be requested at no extra charge.
- Interest-free days. The card comes with up to 44 interest-free days on purchases. Using this option, the cardholders can ensure they never pay a single cent on interest costs for any purchase. The interest-free days do not apply with an outstanding balance transfer.
Features of the NAB Low Fee Card
- Purchase rate. The ongoing purchase rate on this card is 19.74% p.a.
- Cash advance rate. The cash advance rate on this card is 21.74% p.a.
- Standard balance transfer rate. This card has a standard balance transfer rate of 0% p.a. for 6 months, which reverts to the standard cash advance rate, is not available in conjunction with the special balance transfer offer and comes with a one-time 2% balance transfer fee.
- Minimum credit limit. The minimum credit limit on this card is $500.
- Card type. Visa, customers can use payWave and can also look forward to perks courtesy of Visa Entertainment.
- Late payment fee. Cardholders are charged $15 for late payment if their statement is not paid by the requisite date, unless their balance is less than $50.
How to apply for NAB Low Fee Card
If this card is suitable for your needs, you can apply for it today by completing the secure online application form:
- Age. Applicants must be at least 18 years or older.
- Residential status. Permanent Australian residents may apply.
- Credit history. Applicants must have a good credit rating.
- Personal details are required while applying. These include name, date of birth, marital status, contact details and more. Applicants also need to provide their email address which will be used for future communication.
- Details about the income and expenses need to be provided.
- Name, address and phone number of the employer are needed.
- Driver’s license or other identity documents need to be submitted.
- If the applicant is self-employed, the name and address of the accountant are required.
A response to the application is sent within 60 seconds. If the application is approved, you'll receive the card within 5-7 business days. The NAB Low Fee Card provides the option to use a credit card at a competitive annual fee. Use of interest-free days on purchases helps in reducing the interest burden. This card gives you the option to limit credit card expenses while providing benefits like Purchase Protection Insurance, contactless purchasing options, free additional card and more.