NAB Low Fee Credit Card

• Low annual card fee of $30 p.a.
• Low Balance Transfer Rate of 4.99% p.a. for 6 months
• No rewards program.
• The balance transfer rate will revert to the normal purchase rate at the end of the balance transfer period.

How does the NAB Low Fee Credit Card compare against a credit card of the national average?

		Purchase Rate	Cash Adv Rate	Annual Fee	Bal. Transfer Rate	Bal. Transfer Rate Period
	NAB Low Fee Credit Card	19.49%	21.74%	$30	4.99%	6 months
	The Average Credit Card	16.84%	21.27%	$89	2.04%	7 months

Methodology: The Scorecard is based on the interest rates and fees from 308 credit cards from 52 banks and credit unions to give a national average on an ongoing basis. Introductory promotional rates are not included in the calculation.

Disclaimer: The data presented in the Scorecard is intended to be a guide. Some factors may affect data accuracy. We try to present accurate and fresh data, but it is possible that our database may not include every credit card on the entire market and that products may change without us being notified.

Consolidate your repayments with the NAB Low Fee credit card. With an excellent interest rate of 4.99% p.a. on balance transfers for the first 6 months, you can’t really go wrong. The card also offers fantastic low rates on purchases and can be linked to a FlyBuys membership at no extra cost so that you can earn rewards as you spend. Check out our full review of the NAB Low Fee credit card to find out what you need to know before applying.

Pros

The main advantage of the NAB Low Fee credit card is the costs and charges, and, to be precise, how low they are. If you’ve got a balance to transfer, then the NAB Low Fee card is well worth considering. With an introductory interest rate of 4.99% p.a. for 6 months available to new customers, this card has the potential to save you a lot of money. Once the promotional balance transfer offer expires, the rate charged for the remaining balance that was transferred will revert to the standard purchase rate of 19.49% p.a.

There’s also an interest free period on all purchases (Up to 44 days on purchases) and 19.49% p.a. thereafter, making the NAB Low Fee credit card is extremely good value for money. The annual account management fee (what you are charged to keep the account open) is just $30 p.a., which means that the NAB Low Fee card one of the cheapest cards on the market of any type and is well within the reach of anyone.

Linking your NAB Low Fee credit card to your FlyBuys rewards membership will allow you to earn points every time you spend money at select retailers. Points can be redeemed for anything from car rental and booking a hotel to an iPod or state-of-the-art coffee maker. The choice of what you redeem your points for is yours, but the amount of points you will receive will vary from one retailer to the next but can range from 1 right up to 5 points for every $1 spent.

Cons

If you’re after additional features such as free travel insurance and other complimentary insurance cover, then look elsewhere. The NAB Low Rate card is fairly basic and is designed for people who want a no frills, simple credit card that’s going to save them money.

The balance transfer rate (4.99% p.a.) could be lower, but remains one of the cheapest available in Australia. The duration of the balance transfer offer (6 months) is quite long, but cards like the NAB Gold credit card offer a longer introductory period with marginally higher interest.

FlyBuys may be a decent rewards program, but if you want to earn frequent flyer points to redeem for flights and upgrades with a specific airline, for example Qantas, then you’d be better off looking for a dedicated frequent flyer card linked to the airline of your choice with low interest rates. They aren’t the most common of credit card offers, but they do exist.

Conclusion

Designed for people on a medium to low income, the NAB Low Fee credit card is the perfect solution for anyone who wants the benefits of owning a credit card without the fee’s that come with it. With a fantastic balance transfer rate and low management cots, this NAB credit card account is ideal for anyone looking to save money.