Save on your credit card costs with a 0% introductory interest rate for 6 months on purchases when you get a new NAB Low Rate credit card.
With a low standard variable interest rate on purchases and a competitive annual fee, NAB's Low Rate Visa is designed to help you keep your credit card costs down. When you apply for this card, you can also take advantage of 0% interest rate for 6 months on purchases. This will revert to the standard purchase rate at the end of the promotional period.
If you're struggling to repay an existing debt, you could also save with a standard balance transfer rate of 0% p.a. for 6 months, with a one-time 2% balance transfer fee.
|Product Name||NAB Low Rate Credit Card|
|Balance transfer rate (p.a.)||0% p.a. for 6 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.)||0% p.a. for 6 months (reverts to 13.99% p.a.)|
|Annual fee||$59 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 55 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||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Annual fee||$59 p.a.|
|Minimum Monthly Repayment||2% or $25, whichever is greater|
|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|
- Take advantage of 0% p.a. for 6 months on purchases.
- Receive 0% p.a. on balance transfers for 6 months.
- This card offers a low annual fee of $59.
- You can request for an additional credit card at no extra cost.
- This card has no rewards program which means there's no incentive for spending.
- Interest-free days of up to 55 days on purchases do not apply with an outstanding balance transfer.
Review of the NAB Low Rate Card
The NAB Low Rate offers affordable access to credit, with a competitive standard variable purchase rate of 13.99% p.a. and an annual fee of $59. It also gives you up to 55 interest-free days on purchases when you pay your account balance in full by the due date on each statement.
Benefits of the NAB Low Rate Card
- Purchase rate promotion. You can pay off your plastic without forking out any interest with the introductory offer of 0% for the first 6 months. At the end of the promotional period, any unpaid balances from your purchases will start collecting the standard purchase rate.
- Low purchase rate. This card has a relatively low standard purchase rate of 13.99% p.a.
- Interest-free period. If you pay your balance in full by the statement due date, you could save with up to 55 interest-free days on purchases.
- Visa perks. As a Visa card, you can use your card worldwide wherever Visa is accepted and take advantage of special offers on shows, events, experiences and more with Visa Entertainment.
- Additional cardholders. With the NAB Low Rate Card, you can add an additional cardholder at no extra cost. This can come in handy if you need additional cards to manage your family or business' expenses, but remember that the primary cardholder is held accountable for all of the purchases made with both cards.
- 0% p.a. balance transfer offer. With the NAB Low Rate Card, you will receive a balance transfer rate of 0% p.a. for 6 months with a 2% balance transfer fee (reverts to the cash advance rate thereafter). With NAB, you can transfer 90% of your approved credit limit.
- 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 Rate Card
- Cash advance rate. If you use this card to make a cash advance (such as an ATM withdrawal), you'll be charged the cash advance rate of 21.74% p.a.
- Annual fee. The NAB Low Rate Card has a competitive annual fee of $59 to cover the service and maintenance of your account.
- Credit limit. This card has a minimum credit limit of $500. NAB will determine the maximum credit limit you're approved for based on factors such as your income and financial history.
How to apply for the NAB Low Rate Card
You can apply for the NAB Low Rate credit card in 15 minutes and should receive a response within 60 seconds. Before you apply, make sure you've met the following requirements and have the necessary details and documents on hand.
- Are you over 18? You must be at least 18 years of age to apply for a credit card in Australia.
- What is your residency status? You must be an Australian permanent resident or citizen.
- What is your credit rating? You must have a good credit history.
Required details and documents
- Driver's licence
- Financial details
- Expenditure details
- Employer details
- Details of your assets
The NAB Low Rate Card offers you a way to consolidate your debts, avoid high interest on purchases and keep your card costs low. If the low rate option is not for you, NAB offers a range of other credit cards including credit cards that are linked to reward programs for a more rewarding credit card experience. With so many options on the market, remember to compare your options before you apply.Back to top