Consolidate your credit card debt and benefit from a 0% p.a. for 24 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 offer by requesting a balance transfer at the time of application. 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 Name||NAB Low Fee Platinum Card|
|Balance transfer rate (p.a.)||0% p.a. for 24 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||$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.
|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||Yes|
|Minimum Age||18 years of age|
|Available To Temporary Residents||Yes - Conditions apply|
|Annual fee||$90 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|
- Enjoy 0% p.a. on balance transfers for the first 24 months.
- This card comes with complimentary insurances including overseas travel insurance.
- You can request for an additional cardholder at no extra cost.
- 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.
Review of the NAB Low Fee Platinum Card
In addition to the introductory offer, the NAB Low Fee Platinum credit card offers seven complimentary insurance covers – including international travel insurance when you pay for at least $500 of your overseas travel costs with the card. You can also enjoy round-the-clock access to the NAB Platinum Concierge Service and the NAB Service Centre.
As a Visa credit card, you'll be able to use the NAB card in stores all around the world, as well as online and over-the-phone. You can also make contactless payments through Visa payWave and enjoy exclusive entertainment, lifestyle and travel offers and privileges through the Visa Premium service that's designed exclusively for Visa platinum and premium cardholders.
Benefits of the NAB Low Fee Platinum Card
- Balance transfer offer. Apply online to receive 0% p.a. on balance transfers for 24 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 promotional period will attract the cash advance interest rate.
- 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 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.
- 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 up to $20,000 of medical expenses, travel cancellation, missed connections, collision damage, personal liability, accidental disability or death and other scenarios. Other included 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.
- 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.
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 online 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.
- 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.
- 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 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.Back to top