The NAB Premium Card with a balance transfer offer presents a great way for paying off an existing credit card debt, with platinum cardholder benefits.
The NAB Platinum Card offers a competitive balance transfer interest rate and insurance opportunity. With an offer of 0% p.a. for the first 20 months on balance transfers, this could help you save money and alleviate your debt. With a minimum credit limit of $6,000, the NAB Premium Card attracts an annual fee of $90 and offers up to 44 interest-free days on purchases if you pay your balance in full each billing cycle. You can add an additional cardholder for no extra cost and simplify your in-store shopping experience with contactless payWave technology.
|Product Name||NAB Premium Card|
|Balance transfer rate (p.a.)||0% p.a. for 20 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.)||19.74% p.a.|
|Annual fee||$90 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 44 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|
|Credit Rating Requirement||Good|
|Annual fee||$90 p.a.|
|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|
- Enjoy 0% p.a. on balance transfers for the first 20 months.
- This card comes with complimentary insurances including overseas travel insurance.
- You can request for an additional cardholder at no extra cost.
- There is an interest-free period of only up to 44 days on purchases as compared to other cards that offer up to 55 days interest-free.
- There is no incentive for spending with this card as it has no rewards program.
- For balance transfers, a one-time 2% balance transfer fee applies.
NAB Premium Card with Balance Transfer Offer review
The NAB Premium Card offers ideal value for the everyday consumer with interest-free days on purchases. This premium credit card also comes with a balance transfer offer of 0% p.a. for 20 months, allowing you to repay your debt and save money. You also receive platinum cardholder benefits, with seven complimentary insurances, 24/7 access to the NAB service centre for peace of mind and complimentary VIP Lost Card Cover for the first 12 months. Online purchases are made easy with Verified by Visa purchase protection, adding an extra layer of security for online purchases with participating retailers.
Benefits of the NAB Premium Card with Balance Transfer Offer
- Balance transfer offer. Receive a promotional interest rate of 0% p.a. for 20 months on balance transfers. This allows you to repay an outstanding debt from another credit card that you own interest-free for the entire promotional period and save money.
Do take note that a one-off 2% balance transfer fee applies. Once the promotional period ends, the 0% balance transfer rate reverts to the cash advance rate, currently 21.74% p.a.
- Seven complimentary insurances. The NAB Premium Card comes with seven complimentary insurances, including Overseas Travel Insurance, Interstate Flight Inconvenience Insurance, Transport Accident Insurance, Domestic Hotel Burglary Insurance, Purchase Protection Insurance, Extended Warranty Insurance and Price Protection Insurance. When you use this card to make travel reservations in excess of $500, you get overseas travel insurance. This offers cover of up to $20,000 towards medical expenses, travel cancellation, missed connections, collision damage, personal liability, accidental disability or death and other scenarios.
- Platinum cardholder benefits. Platinum service is available within a phone call with 24/7 access to NAB Platinum Concierge Service, providing travel services and lifestyle services to help you with tasks such as planning and booking travel, booking tickets for sporting events, shows and concerts and reservations at hotels, health clubs and golf clubs. VIP Lost Card Cover is complimentary for the first 12 months, providing a Secure Sentinel system which will keep a confidential list of any cards you'd want to cancel if you lost them. Secure Sentinel is available 24/7 and will contact the issuer(s) to cancel the cards and help you order replacements.
- Visa Card benefits. With Visa Front Line Access you can reserve pre-sale tickets for some of the biggest sporting events and concerts. If you need emergency assistance when travelling, you can contact Visa Global Customer Assistance Services. Verified by Visa ensures that you have a safe online shopping experience. Visa payWave allows you to just wave and go for transactions under $100.
Features of the NAB Premium Card with Balance Transfer Offer
- Cash advance rate. The cash advance rate is 21.74% p.a.
- Purchase rate. This card has an ongoing purchase rate of 19.74% p.a.
- Annual fee. This card attracts an annual fee of $90.
- Interest-free days. Receive up to 44 days interest-free on purchases when you have no outstanding balance from the previous statement period.
- Free additional cardholder. Add an additional cardholder to the account for $0.
How to apply for the NAB Premium Card with Balance Transfer Offer
Applying for the NAB Premium Card is easy and an online application takes around 10 minutes to complete. To apply, you have to meet the following eligibility criteria:
- You're at least 18 years old
- You're a permanent resident of Australia
In addition, you have to provide certain information that enables NAB to verify your identity as well as your ability to make repayments. To get through the application process, keep the following information handy:
- Personal information like your name, contact details and date of birth
- Driver's licence number, passport number or Medicare card number
- Name of employer and contact details
- Details about your annual income
- Details about your monthly expenditure
- Details about other loans and credit cards
If you have to transfer an existing credit card balance and want to take advantage of the special balance transfer rate, applying for this card could be a good idea. However, make sure you compare a few cards before choosing the right one for you.Back to top