NAB Low Rate Platinum

Enjoy 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 platinum perks, including complimentary travel insurance, purchase insurance and a personal concierge service.

The NAB Low Rate Platinum Card also offers an introductory balance transfer rate of 0% p.a. for 6 months. After this time, any remaining balance will attract the standard cash advance interest rate. Note that minimum repayments are required.

Product NameNAB Low Rate Platinum Card
Balance transfer rate0% p.a. for 6 months with 2% balance transfer fee
Balance transfer revert rate
The interest rate that will apply to any remaining balance after the balance transfer term ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit90% of available credit limit
Purchase rate (p.a.) 13.99% p.a.
Annual fee$100 p.a.
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
$6,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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 InsuranceYes
Minimum Age18 years of age
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Annual fee$100 p.a.
Minimum Monthly Repayment2% or $25, whichever is greater
Late Payment Fee$15
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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
Cash Advance Fee2% or $2.50, whichever is greater
Overseas Cash Advance Fee2% or $2.50, whichever is greater
Overseas ATM Withdrawal Fee$5
Gambling Transactions AllowedYes
Additional Cardholder Fee$0
Number of Additional Cardholders1

Pros

  • This card comes with a 0% p.a. interest rate offer for 15 months on purchases.
  • 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.

Cons

  • 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:

  • 0% purchase offer. Apply for a new NAB Low Rate Platinum Card and take advantage of 0% interest on purchases for 15 months. This rate reverts to the standard purchase rate at the end of the introductory period. Note that minimum monthly repayments still apply during the introductory 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 one-time 2% balance transfer fee, which reverts to the cash advance rate thereafter. Note that minimum monthly repayments apply.
  • Mobile wallets. You can link your NAB credit card with Samsung Pay, Apple Pay or Google Pay to make contactless payments using your qualifying 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 charges an annual fee of $100.
  • Standard purchase rate. The NAB Low Rate Platinum Card has a standard interest rate of 13.99% p.a. on purchases.
  • Cash advance interest rate. This card has a standard 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.

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.

Eligibility criteria

  • 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.

Required information

  • 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.

The NAB Low Rate Platinum Card currently has a 0% purchase offer, as well as a balance transfer rate of 0% p.a. for 6 months and complimentary 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.

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4 Responses

  1. Default Gravatar
    PhilSeptember 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
      GruSeptember 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

  2. Default Gravatar
    kENNETHMay 26, 2017

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

    • Avatarfinder Customer Care
      RenchMay 29, 2017Staff

      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

Credit Cards Comparison

Rates last updated May 22nd, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
ME frank Credit Card
11.99% p.a.
$0 p.a.
Save money with an ongoing $0 annual fee, the same low 11.99% p.a. interest rate on purchases and cash advances, and up to 55 days interest free.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Earn 20,000 bonus Velocity Points and save with an ongoing $50 p.a. annual fee. Plus, receive a $129 Virgin Australia Gift Voucher each year.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
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