NAB Low Rate Platinum Card
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.
Balance transfer rate
for 6 months with 2% balance transfer fee
for the first 15 months (reverts to 13.99% p.a.)
Interest free period
|Product Name||NAB Low Rate Platinum Card|
|Balance Transfer Rate||0% p.a. for 6 months with 2% balance transfer fee|
|Balance Transfer Revert Rate||Cash Advance Rate (21.74% p.a.)|
|Balance Transfer Limit||90% of available balance|
|Purchase Rate||0% for 15 months (reverts to 13.99% p.a.)|
|Interest Free Period||55 days|
|Cash Advance Rate||21.74% p.a.|
|Minimum Credit Limit||$6,000|
|Foreign Currency Conversion Fee (Visa/Mastercard)||3% of transaction value|
|Complimentary Travel Insurance||Yes|
|Minimum Age||18 years of age|
|Available to Temporary Residents||Yes - Conditions apply|
- 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.
- A platinum card that does not feature any rewards program.
|Minimum Monthly Repayment||2% 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 Fee||2% or $2.50, whichever is greater|
|Overseas Cash Advance Fee||2% or $2.50, whichever is greater|
|Overseas ATM Withdrawal Fee||$5|
|Additional Cardholder Fee||$0|
|Number of Additional Cardholders||1|
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.
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.
- 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.
- New cardholder. The promotional purchase rate offer is only available to new NAB customers.
- Age. You must be at least 18 years old to apply for this card.
- Personal details. This includes your full name, date of birth, residential address, email address and a 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.
- 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.
- 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 Premium 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.
- Balance transfer offer. 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. This is only available to new NAB customers, you can transfer up to 90% of your approved credit limit and minimum monthly payments apply.
- Concierge service. Your NAB Concierge Service is like your very own personal assistant who can help you with a range of lifestyle and travel services. Depending on your needs, they can help you with anything from booking tickets for events, restaurant recommendations and bookings to flower delivery.
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.
- 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 like ATM withdrawals, this rate will apply to any balance transfer debt remaining 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. 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.
- 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.
- Mobile wallets. You can link your NAB credit card with Samsung Pay or Apple Pay to make contactless payments using your qualifying device at the checkout. You can also use NAB Pay through the NAB app to tap and pay with your Android device.