NAB Low Fee Credit Card – Balance Transfer

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Save on credit card costs and repay your debt faster with a low balance transfer offer on the NAB Low Fee Card.

This credit card is designed to keep account costs to a minimum, with a competitive annual fee of $30. If you apply by 1 October 2017 you can also enjoy 0% p.a. for 16 months on balance transfers from non-NAB credit cards, store cards or charge cards.

Product NameNAB 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 Limit90% of available credit limit
Purchase rate (p.a.)19.74% p.a.
Offer end date1 October 2017
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.
$500
Card TypeVisa
Late Payment Fee$15
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 InsuranceNo
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.
$500
Annual Fee$30 p.a.
Late Payment Fee$15
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 Rate
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

  • A low annual fee of $30
  • 0% p.a. on balance transfers for 16 months if you apply by 1 October 2017 and complete the balance transfer at the time of the credit card application
  • Additional cardholder at no extra cost

Cons

  • There is only an interest-free period of up to 44 days on purchases.
  • This card comes with a one-time 2% balance transfer fee.

NAB Low Fee Credit Card review

As well as a competitive annual fee, this card offers up to 44 days interest-free on purchases when you pay the full amount owed by the due date on each statements. It also offers purchase protection insurance and tap-and-go payments for purchases under $100.

The NAB Low Fee credit card has a variable purchase rate of 19.74% p.a. and a cash advance rate of 21.74% p.a. (variable).

Benefits of the NAB Low Fee Credit Card

  • 0% p.a. for 16 months on balance transfers. Apply and get approved before 1 October 2017 and you can move your current non-NAB store card, charge card or credit card debt to this account under the promotional offer. You can transfer up to of your available credit limit (subject to approval). At the end of the promotional period, you'll be charged a revert rate of 21.74% p.a. Note you need to include details of your balance transfer request at the time of your application.
  • Low annual fee. You can benefit from a low ongoing annual fee of $30.
  • Interest-free days. This card offers up to 44 days interest-free on purchases when you pay your balance in full by the due date on each statement.
  • Purchase protection insurance. You can get cover for loss, theft or accidental damage of new items you purchase with the NAB Low Fee Card. Refer to the NAB Purchase Protection Insurance booklet for more information.

NAB Low Fee credit card features

  • Purchase rate. This card has a variable purchase rate of 19.74% p.a.
  • Cash advance rate. This card has a variable cash advance rate of 21.74% p.a.
  • $0 supplementary card. Add a supplementary card to the account for $0 p.a. The credit limit is shared between the primary and supplementary cards, the primary cardholder is liable for spending on the account. Each card has its own number so you can identify the spend for each card when the statement arrives. A supplementary cardholder must be at least 16 years old.

How to apply for the NAB Low Fee Credit Card

You can apply for the NAB Low Fee Card online in around 15 minutes and could receive a response from NAB within minutes of submitting the online form. Before getting started, make sure you meet the eligibility requirements and have all the supporting documents and info on hand to complete the application:

Eligibility criteria

To be eligible to apply for a NAB Low Fee Card with the balance transfer offer, you need to meet the following criteria:

  • Be 18 years old or over
  • Be a citizen or Australian permanent resident
  • Have a good credit rating

Required documents

To make your application progress smoothly, have the following information on hand:

  • Personal information. This includes your full name, date of birth, drivers licence number, residential address and contact details.
  • Employment information. Provide details of your current role and salary, as well as contact information for your employer. If you're self-employed, you may need to provide details of your accountant. You may also be asked to provide recent payslips to verify your income.
  • Details of any assets and liabilities. This includes details of any assets such as shares or savings, as well as existing debts and other liabilities. You'll also need to estimate your everyday living expenses as part of the application.

The NAB Low Fee credit card has a competitive annual fee and interest-free days on purchases when you pay your balance in full. Compare this card to a range of other options so you can apply for one that suits your needs.

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2 Responses

  1. Default Gravatar
    KerriJune 7, 2017

    I am retired but application is asking for salary details

    • Staff
      DanielleJune 8, 2017Staff

      Hi Kerri

      Thank you for your question and for contacting finder.com.au. We are a comparison website and general information service, we’re more than happy to offer general advice.

      You may try to apply for NAB’s retirement account, you may refer to this page for more details.

      You may also check this page for other options that may suit your needs.

      I hope this helps.

      Cheers,
      Danielle

Credit Cards Comparison

Rates last updated August 19th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 24 months
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, long-term balance transfer offer with platinum privileges, including travel insurance.
St.George Vertigo Visa
13.24% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 18 months
$129 p.a.
Apply by 31 October 2017 to receive a long-term, no fee balance transfer and a $129 Virgin Australia Gift Voucher each year.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 20 months
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.

Compare up to 4 providers

* 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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