Get the Finder app 🥳

Track your credit score

Free

NAB Low Rate Card

Last updated:  

Pay off debt with 0% p.a. interest on balance transfers for the first 20 months when you get a new NAB Low Rate credit card.

When you apply for this card, you can save on interest charges and pay off existing debt with a 0% p.a. interest rate on balance transfers for 20 months. This offer charges a one-time 2% balance transfer fee and at the end of the 20 months the cash advance rate will apply to any unpaid balance.

0% p.a.

Balance transfer rate

for 20 months with 2% balance transfer fee

12.99% p.a.

Purchase rate

$59 p.a.

Annual fee

55 days

Interest free period

We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder .

Details

Product NameNAB Low Rate Credit Card
Balance transfer rate0% p.a. for 20 months with 2% balance transfer fee
Balance transfer revert rateCash Advance Rate (21.74% p.a.)
Balance transfer limit90% of available limit
Purchase rate12.99% p.a.
Annual fee$59
Interest-free period55 days
Cash advance rate21.74% p.a.
Min credit limit$1,000
Max credit limit$30,000
Card typeVisa
Foreign currency conversion fee3%
Available to temporary residentsYes - Conditions apply
Joint applicationYes

Pros

  • 0% p.a. on balance transfers for 20 months
  • A low annual fee of $59
  • Request for an additional credit card at no extra cost

Cons

  • Charges a 2% balance transfer fee
  • No rewards program
Annual fee$59
Minimum monthly repayment2% of the closing balance or $25, whichever is greater
Late payment fee$15
Foreign currency conversion fee3%
Cash advance fee2% or $2.50, whichever is greater
Overseas cash advance fee2% or $2.50, whichever is greater
Overseas ATM withdrawal fee$5
Additional cardholder fee$0
Number of additional cardholders1

Expert review

Amy Bradney-George

Review by


Amy Bradney-George is the acting editor for credit cards and has more than 13 years’ experience writing about personal finance. She has bylines in publications including The Sydney Morning Herald, ABC News and The Equity Magazine. A passionate writer, she’s also acting editor for Finder X and senior writer for Finder Green. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University, and when she’s not writing she spends her time as an actress.

Expert review

The NAB Low Rate is a simple, no-frills credit card that offers a competitive ongoing interest rate for purchases, annual fee of $59, up to 55 days interest-free and a low minimum credit limit of $1,000.

You can consolidate debt from non-NAB cards onto this account, with a balance transfer rate of 0% p.a. for 20 months and a one-time 2% balance transfer fee. For example, if you have a $6,000 debt to pay, $120 will be added to your balance. This offer is long compared to some other balance transfer cards, giving you more breathing room from interest charges.

How to apply

You can apply for the NAB Low Rate credit card in around 15 minutes and should receive a response within 60 seconds of submitting the secure application form. Get started by making sure you meet the following requirements and have the necessary details and documents on hand.

Eligibility criteria

  • Residency. You can apply if you're an Australian citizen or permanent resident. If you are not a citizen or permanent resident, you will need to have an acceptable visa. Many visas are acceptable but the following are not: Visitor Visa (exception, a Special Category Visa - NZ Citizen is acceptable), Working Holiday, Student, Exchange/gap year, Transit/short stay/seasonal, and Bridging.
  • Eligible balance transfer debt. With NAB, you can transfer up to 90% of your approved credit limit from non-NAB accounts.

Card benefits

  • 0% p.a. balance transfer offer. You can pay off existing debt with this card's long-term balance transfer offer of 0% p.a. for the first 20 months with a 2% balance transfer fee. At the end of the promotional period, any remaining charges will attract the card's cash advance rate of 21.74% p.a. and you must still make the minimum repayment.
  • Low purchase rate. This card has a relatively low standard purchase rate of 12.99% p.a.

Rates & fees

  • Annual fee. The NAB Low Rate Card charges an annual fee of $59.
  • Foreign transaction fee. If you use this card overseas or shop online in a foreign currency, you'll be charged a fee worth 3% of the transaction value.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

203 Comments

  1. Default Gravatar
    Dean
    May 21, 2018

    Can I pay out my car loan with an interest free credit card via BPay?

    • Default Gravatar
      Nikki
      May 21, 2018

      Hi Dean,

      Thanks for getting in touch!

      You can link your NAB card with BPay and pay your car loans and other bills using BPay. For further information, you may check with your bank on how to link your account with BPay. Please note that we’re a product comparison website and we do not represent any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.

      Don’t hesitate to message us back if you have more questions.

      Cheers,
      Nikki

  2. Default Gravatar
    Ben
    May 4, 2017

    is there any purchase protection, overseas transactions fee, International Currency Conversion Fees etc.

    • Avatarfinder Customer Care
      May
      May 4, 2017

      Hi Ben,

      Thanks for reaching out.

      Yes, the NAB Low Rate Card has purchase protection. You can find the link to the booklet that outlines the policy on purchase protection on the NAB’s official page. Please click on the “Go to site” button above to be redirected to NAB’s page.

      If you will also click on the “Fees & Repayments” tab above, you would find the fees and rates of this card including foreign currency conversion fee, cash advance fee, overseas ATM withdrawal fee, etc.

      Hope this helps.

      Cheers,
      May

  3. Default Gravatar
    karren
    May 3, 2017

    what does awaiting moderation mean?

    • Default Gravatar
      Arnold
      May 3, 2017

      Hi Karren,

      Thanks for your inquiry.

      Basically, awaiting moderation means “waiting for approval from a moderator moderator”

      Hope this information helped.

      Cheers,
      Arnold

  4. Default Gravatar
    wes
    April 18, 2017

    just wondering once the term of the interest free period is up and the debt has been paid are we able to close the credit card account immediately or is there a certain timeframe in which we are not aloud to close the account.

    • Avatarfinder Customer Care
      Dee
      April 18, 2017

      Hi Wes,

      Thanks for your question.

      As long as you have repaid the balance in your card, you can close it anytime.

      Our guide on how to cancel a credit card may help.

      Cheers,
      Anndy

  5. Avatarfinder Customer Care
    May
    February 15, 2017

    Hi Mike,

    Thank you for your question and for contacting finder.com.au – we financial comparison website and general information service designed to help consumers make better decisions. Please note that we are not affiliated with any company we feature on our site.

    I’m afraid that you should be an Australian permanent resident to be able to apply for the NAB Low Rate Credit Card. You may want to refer to this page to compare your credit card options.

    Cheers,
    May

  6. Default Gravatar
    Erin
    December 15, 2016

    I am applying for my first ever credit card, I will not be purchasing frequently, so I would like to know if this is the right type of cc for me. Also, how long will it take to receive this card ready to use?
    Thanks

    • Avatarfinder Customer Care
      Dee
      December 15, 2016

      Hi Erin,

      Thanks for reaching out.

      For first-time credit card applicants like you, our credit card guide for dummies and guide on how to apply for a credit card may help.

      I can’t really tell if NAB Low Rate Card is the best for you as it all depends on your personal situation. You may also want to compare your credit card options on this page.

      Cheers,
      Anndy

  7. Default Gravatar
    duncan
    October 13, 2016

    Is there a minimum annual earnings requirement?

    • Avatarfinder Customer Care
      May
      October 13, 2016

      Hi Duncan,

      Thanks for your question.

      For the NAB Low Rate Credit Card, the minimum income requirement was not specifically mentioned as to how much, however, generally, for most credit card companies, they would accept applicants with income of $15,000 p.a. You can find more information about the income requirements for credit cards on this page.

      It’s best to get in touch with NAB if you want to verify the exact amount for the minimum income requirement for this card.

      Hope this is helpful.

      Cheers,
      May

  8. Default Gravatar
    marius
    October 12, 2016

    Can I do a balance transfer from St George bank?

    • Avatarfinder Customer Care
      Harold
      October 13, 2016

      Hi Marius

      Thank you for your comment.

      Yes, balance transfers between St. George credit card and NAB are allowed. For your complete guide and reference, you can find on this page which banks allow you to transfer your balance to and from.

      Cheers,
      Harold

  9. Default Gravatar
    Mustafa
    September 20, 2016

    Hi,

    Just wondering what is the max credit limit on the NAB LOW FEE CARD?

    • Avatarfinder Customer Care
      Sally
      September 20, 2016

      Hi Mustafa,

      Thanks for your question.

      The card doesn’t have a set maximum credit limit. Instead, the maximum credit limit you’ll be approved for will depend on details such as your income and credit history. When applying for a credit card, you can usually nominate the maximum credit limit you’d like to be approved for, though the final credit limit will ultimately be the bank’s decision.

      I hope this has helped.

      Cheers,

      Sally

  10. Default Gravatar
    Latif
    September 19, 2016

    Is there any processing fee or admin charges for purchase rates?

    • Avatarfinder Customer Care
      Jonathan
      September 20, 2016

      Hi Latif, thanks for your inquiry!

      There are no processing fees/ admin charges for purchases made domestically. However merchant credit card surcharges may still be charged on your purchases/ transactions.

      Cheers,

      Jonathan

Go to site