NAB Low Fee Card
- 0% p.a. for 6 months on balance transfers
with a one-time 2% balance transfer fee
Eligibility criteria, terms and conditions, fees and charges apply
Save on credit card costs with a low annual fee and an introductory rate 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. interest rate for the first 6 months on balance transfers (with a one-time 2% balance transfer fee).
| Product Name | NAB Low Fee Card |
|---|---|
| Balance transfer rate | 0% p.a. for 6 months with 2% balance transfer fee |
| Balance transfer revert rate The interest rate that will apply to any remaining balance after the balance transfer term 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 is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date. | Up to 44 days on purchases |
| Cash advance rate (p.a.) | 21.74% p.a. |
| Min credit limit This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure. | $500 |
| Card Type | Visa |
| Foreign Currency Conversion Fee (VISA) Charged when you make a transaction that is converted by Visa 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 |
| Joint Application | No |
| Annual fee | $30 p.a. |
|---|---|
| Late Payment Fee | $15 |
| Foreign Currency Conversion Fee (VISA) Charged when you make a transaction that is converted by Visa 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 |
| 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 |
| Gambling Transactions Allowed | Yes |
| Additional Cardholder Fee | $0 |
| Number of Additional Cardholders | 1 |
Pros
- A low annual fee of $30
- 0% p.a. on balance transfers for the first 6 months
- Additional cardholder at no extra cost
Cons
- 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.
Benefits of using a NAB Low Fee Card
- 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 personal retail goods purchased anywhere in the world. Please note that exclusions, limits and terms and conditions apply.
- Free additional card. A supplementary card for an additional member can be requested at no extra charge.
- Balance transfer rate. This card offers a 0% p.a. interest rate on balance transfers for the first 6 months, which reverts to the cash advance rate after that period. Take note that a one-time 2% balance transfer fee applies and minimum monthly repayments are required.
- Interest-free days. The card comes with up to 44 interest-free days on purchases. This could help you avoid interest costs on purchases, but isn't eligible for cardholders who have carried a balance beyond the statement due date.
- Mobile wallets. You can link your NAB credit card with Samsung Pay or Google Pay to make contactless payments using your qualifying device at the checkout.
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.
- Minimum credit limit. The minimum credit limit on this card is $500.
- Card type. As a Visa card, customers can use payWave and can also look forward to perks courtesy of Visa Entertainment.
- Eligible for Samsung Pay. You can link your NAB credit card with Samsung Pay to make contactless payments using your qualifying Samsung device at the checkout.
How to apply for the 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:
Eligibility criteria
- Age. Applicants must be at least 18 years or older.
- Residential status. You can apply for this card if you are an Australian citizen, permanent resident or temporary resident. If you are not a citizen or permanent resident, you will need to provide the last overseas address you lived in.
- Credit history. Applicants must have a good credit rating.
Required documents
- 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.
Hi,
How long does it take to process the balance transfer?
Thanks
Hi Paras,
Thanks for getting in touch with Finder. I hope all is well with you. :)
Generally speaking, during your online application, it takes around 15 minutes to finish the application process. If you apply by post or in-person, the process may take longer.
If you are approved, it takes about ten days for your credit card to arrive. Once you receive it, you then activate the card. From there, it will then take another one or two weeks for the balance transfer to be added to your new account.
If you want to know more, you can read our guide entitled, “How long does a balance transfer take?” You will also learn how fast each bank in Australia process balance transfer applications as well as some tips on how to speed up your balance transfer.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
Hi,
I am looking for credit card balance transfer from BankSA. I have temporary Australian resident status so, May I eligibility for balance transfer ?
Thanks
Dhiraj
Hi Dhiraj,
Thanks for getting in touch with finder. I hope all is well for you. :)
Yes, you can do a balance transfer from BankSA provided even if you are a temporary Australian resident provided that you meet the eligibility requirements of your chosen bank.
On this page, you will find some of the banks that allow you to do a balance transfer. You will see a table on that page. Use it to compare Australian credit cards for temporary residents and do a balance transfer.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
What is the purchase rate and does it apple when you are in the internet free periods eg 15 months interest free period?
Hi Pips,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
The ongoing purchase rate on this card is 19.74% p.a and yes it still applies. Also this card has a standard balance transfer rate of 0% p.a. for 6 months which reverts to the standard cash advance rate. The cash advance rate on this card is 21.74% p.a.
I hope this helps.
Cheers,
Danielle
I only want a 6000$ limit
Hi Trevor,
Thanks for reaching out.
If you wish to apply for NAB Low Fee Card, you can go ahead and click the ‘go to site’ button on our page. But please do read the eligibility criteria to apply beforehand.
If you want to check out other low-interest rate credit cards, please refer to this page.
Cheers,
Anndy
Hi,
Can i also use this card overseas or in other countries?
Regards,
MR
Hi Marshel,
Thanks for your question.
Yes, you can use NAB Low Fee Card overseas where VISA is accepted. However, please note that it charges foreign currency conversion fee as well as overseas ATM balance check and withdrawal fees.
Cheers,
Anndy
When applying for the card , do I have to give my employers details
Thanks
Hi Matthew,
Thanks for your question.
When you apply for NAB Low Fee Card, one of the requirements is for you to provide the name, address and phone number of your employer.
Cheers,
Anndy
I want to apply this card with balance transfer request. If i use this money will that be interest free too?? Also it says 45 days interest free thing but not on cash advances. what does that mean??? Also this thing which is written with the card with one time 2%off on cash advances ..what does that mean??
Hi Xyz,
Thanks for your questions.
44 days interest-free period
For the NAB Low Fee Card, the 44 days interest-free period is not applied on cash advances, the same is true for all other credit cards. The 44 days interest-free period is applicable for purchases only. To receive interest-free days you must repay your account’s outstanding balance in full in the previous month. This feature will also not be in effect if the card still offers 0% interest on purchases.
2% one-time balance transfer fee
Meantime, the one-time 2% fee is for applied for the balance transfer not on cash advances. A credit card balance transfer is the process where you transfer the balance (any money you owe on your current credit card) to a new credit card with another credit card institution. Please note that you have to pay a fee for conducting the BT, that is a one-time 2% of the total balance transfer amount.
Cash advance fee and interest
So, if you will use NAB Low Fee Card to get a cash advance, you’ll be charged interest of 21.74% p.a. and a cash advance fee of 2% or $2.50, whichever is greater.
I hope this has answered your questions.
Cheers,
May
Hi Joan,
Thank you for your question.
Yes, you can get a cash advance from this NAB Low Fee Card through ATMs and/or over the counter. Please keep in mind though that you’ll be charged interest at the cash advance rate and incur the cash advance fee each time you make a cash advance.
Cheers,
May
I am after a credit card with 0% purchase and 0% balance transfer rate. NAB seems to have the best credit card on offer but wanted to check to see if there was another card you could recommend?
Thanks,
Julie
Hi Julie, thanks for your inquiry!
Please note that we are only licensed to provide general advice regarding the products we display. Depending on the credit card usage needs the combination of interest rates and features will vary. Please see this page for more a list of Best Credit Cards. You can compare cards on attributes such as balance transfer rates, interest rate and annual fees.
Cheers,
Jonathan
I’m overseas student (573 subclass)earning 34,000 p.a. Can I apply for this card. ?
Hi Randeep,
Thanks for your question.
Unfortunately this card is not available for temporary residents. Please see this page for providers that may be able to help.
Cheers,
Shirley
Hi. I just applied for a credit card and I exceeded the attempts to put my verification number in and I have now received a new number, its 2418. Would you please be able to tell me if I have been approved or not. Thank you.
Hi Cynthia.
We would love to be able to help, but you will need to contact the card issuer directly for an answer to your question.
You can find contact numbers on this page.
Thanks for your question.