NAB Low Rate Platinum Card

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Save with 0% interest on purchases for 15 months and complimentary insurance covers with the NAB Low Rate Platinum Card.

This premium NAB credit card combines competitive interest rates with a host of perks, including complimentary travel insurance, purchase insurance and a personal concierge service.

0% p.a.

Balance transfer rate

for 6 months with 2% balance transfer fee

0% p.a.

Purchase rate

for the first 15 months (reverts to 13.99% p.a.)

$100 p.a.

Annual fee

55 days

Interest free period

Details

Product NameNAB Low Rate Platinum Card
Balance Transfer Rate0% p.a. for 6 months with 2% balance transfer fee
Balance Transfer Revert RateCash Advance Rate (21.74% p.a.)
Balance Transfer Limit90% of available balance
Purchase Rate0% for 15 months (reverts to 13.99% p.a.)
Annual Fee$100
Interest Free Period55 days
Cash Advance Rate21.74% p.a.
Minimum Credit Limit$6,000
Card TypeVisa
Foreign Currency Conversion Fee (Visa/Mastercard)3% of transaction value
Complimentary Travel InsuranceYes
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Joint ApplicationNo

Pros

  • This card comes with a 0% interest rate offer for 15 months on purchases.
  • Take advantage of 0% on balance transfers for the first 6 months.
  • This card features a competitive annual fee of $100.
  • Seven complimentary insurances, including overseas travel, are offered with this card.

Cons

  • A platinum card that does not feature any rewards program.
Annual Fee$100
Minimum Monthly Repayment2% of the closing balance or $25, whichever is greater
Late Payment Fee$15
Foreign Currency Conversion Fee (Visa/Mastercard)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
Additional Cardholder Fee$0
Number of Additional Cardholders1

Expert review

Sally McMullen

Review by


Sally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.

Expert review

Interest-free purchase offers generally range from 6 to 15 months, so the NAB Low Rate Platinum is one of the longer offers on the market. It has a relatively competitive standard purchase rate of 13.99% p.a., which is good news if you’re unable to clear your balance before the introductory period ends.

This card also offers 0% p.a. on balance transfers for 6 months. If you need to repay a large debt, you may want to consider a card with a longer interest-free balance transfer offer.

How to apply

You can apply for the NAB Low Rate Platinum Card online in 15 minutes and should receive a response within 60 seconds. Make sure you meet the eligibility requirements and have the necessary documents and information before you get started.

Eligibility criteria

  • Residency. You can apply if you're an Australian permanent resident or citizen. If you are not a citizen or permanent resident, you will need to provide the last overseas address you lived in.
  • Credit history. You must have a good or excellent credit history to apply for this card.

Card benefits

  • 0% p.a. purchase offer. Apply for a new NAB Low Rate Platinum Card and take advantage of 0% p.a. interest on purchases for 15 months. This rate reverts to the standard purchase rate at the end of the introductory period. Minimum monthly repayments still apply during the introductory period but it's wise to pay more than this to repay the entire debt before the standard rate applies.
  • Complimentary travel insurance covers. The NAB Low Rate Platinum Card offers four types of complimentary travel insurance. This includes comprehensive overseas travel insurance and transit accident insurance for international travel, plus interstate flight inconvenience insurance and domestic hotel burglary insurance when you're travelling throughout Australia. The cover is issued by Allianz and is available when you make eligible travel purchases using your NAB Low Rate Platinum.

Rates & fees

  • Annual fee. This card has an annual fee of $100.
  • Standard purchase interest rate. Outside of any promotions, the NAB Low Rate Platinum Card has a standard interest rate of 13.99% p.a. on purchases.

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8 Comments

  1. Default Gravatar
    Janice
    September 11, 2019

    What is the minimum salary for this card

    • AvatarStaff
      Jeni
      September 11, 2019

      Hi Janice,

      Thank you for getting in touch with Finder.

      This card did not include salary requirement. You may check out this page for credit cards that include minimum income requirement.

      Please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  2. Default Gravatar
    Daniel
    August 30, 2019

    Would I be approved for this service with a credit score of 300

    • AvatarStaff
      Nikki
      August 31, 2019

      Hi David,

      Thanks for your message. To apply for this NAB Low Rate Platinum Card, your score must be from good-excellent (625-800-1000). Note though that there are other eligibility requirements that a bank checks when applying for a credit card and some of which are your personal details and source of income.

      If your credit score is 300, this falls in the weak category and applying for a credit card may not be ideal at this time. Finding ways to improve your credit score may help your credit card application in the future.

      If you already have a credit card and you want to know how to repair your credit, please refer to this page. Otherwise, here is a page showing credit card options when you have bad credit. As a friendly reminder, check the eligibility requirements of the card before proceeding with your application. Also, read about its features and benefits and see how it fits your financial needs. Additionally, it’s helpful to review the PDS and Terms & Conditions of the card before fully committing to the card. You may also reach out to the bank if you have any clarifications.

      Best,
      Nikki

  3. Default Gravatar
    Phil
    September 8, 2017

    Hello,
    Under the benefits listed for the NAB Low Rate Platinum Card, overseas travel insurance is included under the complimentary travel insurance. I am seeking more information into the overseas insurance, and whether this includes health insurance.

    Thanks.

    • Default Gravatar
      Gru
      September 9, 2017

      Hello Phil,

      The NAB Low Rate Platinum Card offers four types of complimentary travel insurance to help protect you when you travel overseas and domestically, issued by QBE. It includes comprehensive overseas travel insurance and transit accident insurance for international travel, plus interstate flight inconvenience insurance and domestic hotel burglary insurance when you’re travelling throughout Australia.

      You may also find this page helpful.

      If you need further assistance, please do not hesitate to reach out to us again.

      Cheers,
      Gru

  4. Default Gravatar
    kENNETH
    May 26, 2017

    What are the income requirements for NAB Low Rate Platinum Card?

    • AvatarStaff
      Rench
      May 29, 2017

      Hi Kenneth,

      Thanks for your question.

      The income requirement for the NAB Low Rate Platinum Card is determined by NAB, so best to contact them directly to confirm. If you also like to know more the other minimum eligibility criteria of this card, you can find them listed above under ‘How to apply for the NAB Low Rate Platinum Card’ section or click on the ‘Go to site’ button so you can find more details of this card on NAB’s official page.

      Hope this information helped.

      Cheers,
      Rench

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