Enjoy $20 cashback per month for the first 12 months, up to $240, and complimentary insurance covers with the NAB Low Rate Platinum Card.
This premium NAB credit card combines competitive interest rates with a host of platinum perks, including cashback, complimentary travel insurance, purchase insurance and a personal concierge service.
For the first 12 months, when you spend $1,500 on eligible purchases per statement period you will earn $20 cashback, up to $240. The NAB Low Rate Platinum Card also offers an introductory balance transfer rate of 0% p.a. for up to 6 months. This offer is only available when you apply online before 14 October 2018.
|Product Name||NAB Low Rate Platinum Card - Online Offer|
|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.)||13.99% p.a.|
|Offer end date||14 October 2018|
|Annual fee||$100 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||Yes|
|Minimum Age||18 years of age|
|Available To Temporary Residents||Yes - Conditions apply|
|Annual fee||$100 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|
- $20 cashback per month for the first 12 months, up to $240 when you apply online and spend $1,500 per statement period.
- Take advantage of 0% p.a. 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.
- A platinum card that does not feature any rewards program.
Benefits of the NAB Low Rate Platinum Card
Here are the highlights of the NAB Low Rate Platinum Card:
- Up to $240 cashback. When you apply online before 14 October 2018, you are eligible to receive $20 cashback each month for the first 12 months when you spend at least $1,500 on eligible purchases per statement period.
- 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 QBE and is available when you make eligible travel purchases using your NAB Low Rate Platinum.
- Complimentary purchase insurance covers. This card provides complimentary purchase protection insurance that protects eligible purchases against theft, loss or damage. It also offers extended warranty coverage for eligible items, and price protection insurance that allows you to claim the difference between the price you paid for a new item and a lower printed advertised price for the same item. Terms and conditions apply for these covers, so make sure you refer to the NAB insurance booklet for further information.
- Visa Front Line access. This platinum Visa service gives you the chance to reserve tickets to some of the biggest events before they go on sale to the general public.
- Additional cardholder. If you want to share your account with a partner or family member, you can request an additional card at no extra cost. Note that the additional cardholder must be at least 16 years of age and you will still be responsible for keeping the account in good standing.
- Balance transfer rate. The NAB Low Rate Platinum card comes with an introductory balance transfer offer of 0% p.a. for 6 months with a 2% balance transfer fee, which reverts to the cash advance rate thereafter. Note that minimum monthly repayments apply.
- 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 Platinum Card
If you’re interested in applying for the NAB Low Rate Platinum Card, make sure you consider the following details:
- Annual fee. This card has an annual fee of $100.
- Standard variable purchase rate. The NAB Low Rate Platinum Card has a standard variable interest rate of 13.99% p.a. on purchases.
- Cash advance interest rate. This card has a standard variable cash advance rate of 21.74% p.a. As well as applying to cash advance transactions, this rate will apply to any balance transfer debt that’s outstanding at the end of the introductory period.
- Cash advance fee. If you use your card for a cash advance transaction, you’ll pay 2% or $2.50, whichever is greater of the total transaction cost.
- Interest-free days. This card offers up to 55 days interest-free on purchases when you pay your balance in full by the due date on each statement. Note that interest-free days do not apply when you have an outstanding balance on the card.
- Foreign transaction fee. The NAB Low Rate Platinum Card charges a fee worth 3% of the Australian dollar amount of each transaction made in a foreign currency.
- Late payment fee. This card has a late payment fee of $15 that is debited on or after the day when an amount that is due for payment is not paid on or before its due date if, at the time the fee is debited, the balance of the account is $50 or more.
How to apply for the NAB Low Rate Platinum Card
You can apply for the NAB Low Rate Platinum Card in around 15 minutes via a secure online application form. Once you’ve submitted all your details, you’ll receive a response within 60 seconds. Make sure you meet the eligibility criteria and have all your required details and documents on hand before you start the application.
- Age. You must be at least 18 years of age to apply for this credit card.
- Residency status. 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.
- Personal details. This includes your full name, date of birth, residential address, email address and contact number.
- Identification. You will need to provide details of your driver’s licence, passport or other official records to help verify your identity.
- Employment details. This includes your position, salary, length of time at your workplace and your employer’s contact details. You may also be required to provide recent payslips as well as details of previous employment.
- Financial information. Include details of your current income and assets such as savings, as well as any existing debts. If you’re taking advantage of the balance transfer offer, you’ll also need to provide details of your existing account and the amount of debt you want to transfer to the card. You’ll also need to provide details of current regular expenses, such as rent, utility bills and grocery spending.
When you apply online, the NAB Low Rate Platinum Card has a cashback offer, complimentary insurance covers and a host of extras. But with an annual fee of $100, it’s still important to compare a range of options so that you can make sure the card you choose is affordable for you.Back to top