NAB Low Rate Platinum

NAB Low Rate Platinum Card Find out more Go to site

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Enjoy 0% interest on purchases for 9 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.

Apply for the NAB Low Rate Platinum Card and you can enjoy 4.99% p.a. interest on balance transfers for 6 months. Note that minimum repayments are required.

Product NameNAB Low Rate Platinum Card
Balance transfer rate (p.a.)4.99% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit90% of available credit limit
Purchase rate (p.a.)0% p.a. for 9 months (reverts to 13.99% p.a.)
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.
$6,000
Minimum Monthly Repayment2% or $25 whichever is greater
Card TypeVisa
Late Payment Fee$15
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 InsuranceYes
Available To Temporary ResidentsYes
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsYes
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
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.
$6,000
Annual Fee$100 p.a.
Minimum Repayment2% or $25 whichever is greater
Late Payment Fee$15
Over Limit Fee$0
Cash Advance Fee2% or $2.50, whichever is greater
Overseas Cash Advance Fee2% or $2.50, whichever is greater
Overseas Emergency Replacement$100
Overseas ATM Balance check$1
Overseas ATM Withdrawal Fee$5
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
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • This card comes with 0% p.a. for 9 months on purchases.
  • Take advantage of 4.99% 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.

NAB Low Rate Platinum Card review

The NAB Low Rate Platinum Card is designed to offer both affordability and convenience, with an annual fee of $100 that’s competitive for a platinum card. It also offers seven complimentary insurance covers including travel insurance and purchase protection.

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 9 months. This rate reverts to the standard variable purchase rate thereafter.
  • Complimentary travel insurances. 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.
  • Complimentary purchase insurance covers. This card provides complimentary purchase protection insurance that protects eligible purchases against theft, loss or damage for up to 90 days. 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 booklets 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.
  • Concierge service. This card comes with access to NAB's 24/7 personal concierge service, provided by Visa Worldwide, which can help you with everything from booking restaurant reservations to helping you arrange a gift for a loved one.
  • 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 you will still be responsible for keeping the account in good standing.

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.
  • Balance transfer rate. This NAB Low Rate Platinum card comes with a 4.99% p.a. for 6 months standard balance transfer rate, which reverts to the cash advance rate thereafter. Note that minimum monthly repayments apply.
  • 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 transfer on the card.
  • Foreign transaction fee. The NAB Low Rate Platinum Card charges a fee of 3% on transactions made overseas or online 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. To help increase your chances of approval, 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 must be an Australian permanent resident or citizen.
  • 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 4.99% 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?

    • Staff
      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 November 21st, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
St.George Vertigo Platinum - Online Offer
12.74% p.a.
0% p.a. for 24 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 15 months
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Fly faster with up to 2 Qantas Points per $1 spent, receive 2 yearly complimentary Qantas Club lounge invitations, plus, included travel insurance.
Woolworths Everyday Platinum Credit Card
19.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you apply by 31 January 2018 and make an eligible purchase by 28 February 2018.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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