NAB Low Fee Platinum Card – Rates and Fees

Consolidate credit card debt and benefit from a 0% p.a. for 6 months balance transfer offer when using your new NAB Low Fee Platinum Card.

New NAB Low Fee Platinum Card customers can take advantage of the introductory interest-free balance transfer offer for 6 months (with a 2% balance transfer fee). This credit card also offers a minimum credit limit of $6,000 and a host of features and benefits including complimentary insurance covers and a concierge service. It also has a competitive annual fee of $90.

Product NameNAB Low Fee Platinum Card
Balance transfer rate0% 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 Limit90% of available credit limit
Purchase rate (p.a.) 19.74% p.a.
Annual fee$90 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.
$6,000
Card TypeVisa
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 InsuranceYes
Minimum Age18 years of age
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Annual fee$90 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 Fee2% or $2.50, whichever is greater
Overseas Cash Advance Fee2% or $2.50, whichever is greater
Overseas ATM Withdrawal Fee$5
Gambling Transactions AllowedYes
Additional Cardholder Fee$0
Number of Additional Cardholders1

Pros

  • Enjoy 0% p.a. on balance transfers for the first 6 months.
  • This card comes with complimentary insurances including overseas travel insurance.
  • You can request for an additional cardholder at no extra cost.

Cons

  • There is an interest-free period of only up to 44 days on purchases as compared to other cards that offer up to 55 days interest-free.
  • There is no incentive for spending with this card as it has no rewards program.
  • For balance transfers, a one-time 2% balance transfer fee applies.

Benefits of the NAB Low Fee Platinum Card

  • 24/7 NAB Support Centre. Got a question about your card? The NAB Support Centre team are available to chat at any time day or night.
  • NAB Concierge Service. This 24/7 service, provided by Visa Worldwide, can help you with a range of travel, lifestyle and entertainment tasks including planning and booking travel or tickets to events, reservations at hotels and restaurants or car and limousine rental.
  • 7 Complimentary insurances. When you use this card to make travel reservations in excess of $500, you'll receive overseas travel insurance issued by QBE. This covers medical expenses, travel cancellation, missed connections, collision damage, personal liability, accidental disability or death and other scenarios. Other covers include interstate flight inconvenience insurance, transport accident insurance, domestic hotel burglary insurance, purchase protection insurance, extended warranty insurance and price protection insurance. Check the terms and conditions for all eligibility requirements, exclusions and more.
  • Visa benefits. With Premium Access, you can access a number of exclusive travel, entertainment and lifestyle offers. 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.
  • Balance transfer rate. Receive 0% p.a. on balance transfers for the first 6 months. Take note that a one-time 2% balance transfer fee applies and you will still need to make minimum payments by the due date listed on each statement. Any remaining balance at the end of the introductory period will attract the cash advance interest rate.
  • Mobile wallets. You can link your NAB credit card with Samsung Pay, Apple Pay or Google Pay to make contactless payments using your qualifying device at the checkout.

Features of the NAB Low Fee Platinum Card

  • Annual fee. This card charges an annual fee of $90.
  • Purchase rate. This card charges an interest rate of 19.74% p.a. on purchases.
  • Cash advances. If you use this card to withdraw cash at an ATM or for any other cash advance transaction, a cash advance fee of 2% or $2.50, whichever is greater will apply to the transaction, as well as a cash advance interest rate of 21.74% p.a. Note that the cash advance interest rate also applies if you have any debt remaining from a balance transfer at the end of the introductory period.
  • Interest-free days. This card offers up to 44 interest-free days on purchases if you repay your balance in full by the due date on each statement. Note that you will not be eligible for interest-free days when you carry a balance.
  • Minimum credit limit. The NAB Low Fee Platinum Card has a minimum credit limit of $6,000.
  • Currency conversion rate. Transactions made in foreign currencies will attract a fee worth 3% of the amount after it's converted to Australian dollars.
  • Additional cardholder. You can request 1 additional cardholder at no extra cost. Note that the additional cardholder must be at least 16 years of age and the primary account holder (i.e. you) will be responsible for all transactions on the account.

How to apply for the NAB Low Fee Platinum Card

You can apply for the NAB Low Fee Platinum Card in around 15 minutes. Before you apply, make sure you meet the eligibility requirements and have the necessary documents and details you'll need for the online application.

Eligibility criteria

  • How old are you? You must be at least 18 years old to apply for a credit card in Australia.
  • What is your Australian residency status? You can apply for this card as 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 for where you lived, as well as other details of your residency status.

Required documents

  • Personal information. This includes your full name, contact details and date of birth. You'll also need to provide your driver's licence number or another valid form of ID such as your passport or Medicare card number.
  • Employment details. Provide details of your current role, salary and your employer's name and contact details. You may also be asked to provide recent payslips, or your accountant's details.
  • Financial details. This includes any other sources of income or assets, as well as your regular household expenses. You also need to share information on any existing loans and credit cards.
  • Balance transfer details. If you want to request a balance transfer, you'll need to provide details of your current credit card account/s, including the financial institution/s and the amount of debt you'd like to transfer. Note that balance transfer requests and amounts are subject to approval.

If you're looking to repay your debt 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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172 Responses

  1. Default Gravatar
    marySeptember 24, 2018

    I am confused which credit card of nab I should apply for.
    I would like to have a credit with a limit of 20k.
    I don’t use a lot of my credit.and if I use I don’t normally spend more than 200 per month.
    so I do prefer a low annual fee.

    Can you please help me to find the best.

    thank you

    • Avatarfinder Customer Care
      JoshuaSeptember 26, 2018Staff

      Hi Mary,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Normally, it is the bank that will determine your credit limit based on how they assess your financial status. For low annual fee credit cards from NAB, most of them will not give you starting credit limit of 20,000AUD. Not only that, but the maximum credit limit for NAB credit cards are usually not specified on their website. Thankfully, during your card application, you have the option to apply for a higher credit limit available for your card. It is up for NAB then to approve your request or not.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    MeenaAugust 7, 2018

    I would like to apply for credit cards with a limit of 6000 but I am on a Bridging visa A(subclass 010). Please consider my question and reply on it. Thank you

    • Avatarfinder Customer Care
      JhezAugust 10, 2018Staff

      Hello Meena,

      Thank you for your comment.

      Generally, there are just some Australian banks that offer credit cards to temporary residents. The page does not specifically state that the listed cards are for those on a bridging visa however you can definitely inquire to the providers listed your eligibility to apply. The limit will depend on how the provider assesses your financial status and other factors.

      Please note that application requirements must be met as a temporary resident and these differ between different banks and providers. I hope this helps.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  3. Default Gravatar
    September 1, 2017

    When you sign on for the Credit card in one person’s name and then purchase over $500 for Travel does the Insurance cover both persons i.e. husband and wife travelling together of whom tickets were purchased for at the same time? OR, is the insurance only extended to the Card holder and the partner is not covered?

    • Avatarfinder Customer Care
      JhezSeptember 2, 2017Staff

      Hi RH,

      Thanks for your comment.

      Most policies also extend coverage to your partner and children when they travel with you. The key is to make sure you know who and what is covered by the policy and that you all meet the requirements for coverage, just as you would with a bought policy.

      While credit card complimentary insurance policies vary between issuers, they are underwritten by the same major insurance companies. Here, we’ll look at the two main providers and the credit card policies they underwrite to help you understand how and when your family will be eligible for cover.

      Best to contact NAB directly to check further.

      Regards,
      Jhezelyn

  4. Default Gravatar
    IanJuly 11, 2017

    Does the complimentary travel insurance cover the cost of the rental car excess fee in the event of a claim in France?

    • Default Gravatar
      ArnoldJuly 12, 2017

      Hi Ian,

      Thanks for your inquiry.

      It doesn’t. 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.

      Hope this information helped.

      Cheers,
      Arnold

  5. Default Gravatar
    RaquibaJune 1, 2017

    How long the interest free period is for balance transfer? Can I speak with someone from your side to discuss my concerns? If yes please provide phone number and name.

    • Default Gravatar
      JonathanJune 1, 2017

      Hi Raquiba!

      Thanks for the comment.

      The 0% balance transfer promo is for 20 months. If you want further information and needs assistance on contacting the bank, you can click “Go To Site” green button to proceed.

      Hope this helps.

      Cheers,
      Jonathan

  6. Default Gravatar
    NeilMay 23, 2017

    Can a Flexiloan of 25k be balanced transferred over to this product?

    Thank you in advance.

    • Avatarfinder Customer Care
      HaroldMay 23, 2017Staff

      Hi Neil,

      Thank you for your inquiry.

      If you wish to balance transfer your personal loan to a credit card you may want to consider the available option/s here.

      I hope this information has helped.

      Cheers,
      Harold

  7. Default Gravatar
    GregMarch 30, 2017

    If you have $1000 on one card and $3000 on another, can you consolidate them into one card, when doing a balance transfer?

    • Avatarfinder Customer Care
      LouMarch 30, 2017Staff

      Hi Greg,

      Thanks for your question.

      Yes, it is possible to consolidate your debts from multiple cards into one balance transfer account. You can compare your options here.

      You may visit this page if you want to know where you can balance transfer to.

      Cheers,
      Anndy

  8. Default Gravatar
    daniJuly 11, 2016

    What is the maximum credit limit for NAB premium Visa?

    • Avatarfinder Customer Care
      LouJuly 14, 2016Staff

      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

  9. Default Gravatar
    PatriciaMay 9, 2016

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

    • Avatarfinder Customer Care
      LouMay 9, 2016Staff

      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

  10. Default Gravatar
    RaffApril 25, 2016

    Hi,

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

    • Avatarfinder Customer Care
      AllyApril 26, 2016Staff

      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

Credit Cards Comparison

Rates last updated May 26th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
ME frank Credit Card
11.99% p.a.
$0 p.a.
Save money with an ongoing $0 annual fee, the same low 11.99% p.a. interest rate on purchases and cash advances, and up to 55 days interest free.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Earn 20,000 bonus Velocity Points and save with an ongoing $50 p.a. annual fee. Plus, receive a $129 Virgin Australia Gift Voucher each year.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

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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