NAB Low Fee Platinum Card | Review, Compare & Apply

NAB Low Fee Platinum Card

Card features
balance transfer
purchase rate
annual fee
NAB Low Fee Platinum Card
24 hour, 7 day Platinum Concierge Service.
7 types of complimentary insurances including overseas travel insurance.
0% p.a. for 6 months on balance transfers. (2% balance transfer fee applies). Reverts to cash advance rate.
Add to comparison
6 months
0% p.a.
then 21.74%
with a 2% fee
19.74% p.a.

Pros & cons

What's good?

What's not so good?

No cost for additional cardholders.
0% p.a. for 6 months on balance transfers. (2% balance transfer fee applies). Reverts to cash advance rate.
7 complimentary insurances: Overseas Travel Insurance, Interstate Flight Inconvenience Insurance, Transport Accident Insurance, Domestic Hotel Burglary Insurance, Purchase Protection Insurance, Extended Warranty Insurance, Price Protection Insurance.
Platinum Concierge Service—your own 24 hour, 7 day personal assistant.
Access to our 24/7 NAB Service Centre.
Enable for Apple Pay for a faster transaction.
The interest rate on purchases is higher as compared to others.
There is a 2% fee on balance transfers.

*NAB may vary or end this offer at any time.

Disclaimer (2): Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the NAB Low Fee Platinum CardReviewed by Yvonne Taylor

Having a platinum credit card with lots of complimentary benefits can be a great money-saver, but its appeal can be significantly reduced if there’s a high annual fee attached to the card. So it’s refreshing to find a card like the NAB Low Fee Platinum Card, with extensive complimentary insurance cover and a concierge service, but without an inflated annual fee.

$90 p.a. is a moderate charge for a card loaded with platinum benefits

The very reasonable $90 annual fee makes this a worthwhile option for anyone not looking for the rewards points that are often offered in tandem with platinum benefits, with an inevitable upward effect on the annual fee. Interstate or overseas travellers in particular will be able to extract a value from the card far in excess of its cost, courtesy of the complimentary travel insurance.

There’s also no cost for a supplementary card on the account, for example for your partner.

Short but potentially useful 0% p.a. balance transfer offer

Have you maxed out your existing card, to a point at which you are seriously doubting your ability to get out of debt in the foreseeable future? In this situation, a short, six-month breathing space, obtained by transferring the debt to this card, could be a great help. No interest will be charged on the transferred balance for six months, meaning that every dollar of your repayments is dedicated to reducing the debt principal instead of being eroded by interest.

For example, if you have accumulated a $10,000 debt on your existing card, on which you are paying interest at 20% p.a., you will save a $990 in interest charges over six months by transferring it to this card.

There is, however, a 2% balance transfer fee to be paid upfront, which effectively reduces your saving to $790.

Beware the revert rate

It’s best to use the six-month absence of interest charges as an incentive to apply as much of your spare cash as possible to reducing the debt. That’s because the revert interest rate, applied to any balance remaining after six months, is the high cash advance interest rate, a punishing 21.74% p.a. It’s not unusual for a revert interest rate to be this high, and revert rates always need to be avoided if possible.

Immediate platinum benefits if you forego the balance transfer

One of the downsides of having an unpaid balance transfer is that you’ll temporarily forfeit the up to 44 interest-free days normally allowed on each month’s purchases. Instead, the standard purchases interest rate of 19.74% p.a. will be applied immediately on each purchase transaction.

This makes it unlikely that you’ll use the card for purchases until the balance is cleared, meaning that for the first six months you’ll miss out on all the complimentary benefits promised in the card’s title. The word ‘Platinum’ is there for a reason because the extensive built-in advantages are:

  • Comprehensive overseas travel insurance for the cardholder and accompanying spouse and dependent children, activated by using the card to cover at least $500 of pre-paid trip expenses.
  • Interstate flight inconvenience insurance, covering travel and luggage delay, unavoidable trip cancellation and rental vehicle insurance excess, activated by paying for return airfares using the card.
  • Transport accident insurance, providing compensation for serious injury on a plane or public transport, both in Australia and while travelling overseas, when fares are paid with the card.
  • Domestic hotel burglary insurance (exclusive to NAB cards), covering loss, theft or damage to personal items in a locked Australian hotel room, where payment for the accommodation was made or secured using the card.
  • Purchase protection insurance, covering major purchases made using the card, against loss, theft or damage, for three months.
  • Extended warranty insurance, doubling the manufacturer’s warranty, up to a maximum of 12 additional months.
  • Price protection insurance, allowing you to shop with confidence, knowing that the price difference will be refunded if you see a recent major purchase advertised locally at a much lower price.
  • NAB concierge service, to assist with recommendations and bookings for travel, dining and entertainment, at any time, anywhere in the world.
  • Visa Premium Access for special discounts and privileges, including reserved tickets to the hottest events before they go on general sale.

Low-fee but not low-tech

You could be forgiven for thinking that NAB might cut corners on the technology for a card laden with platinum benefits, but costing only $90 per year, with no charge for an additional cardholder. But that is not the case. You can still enjoy all the latest technology and security that comes with more expensive cards, including:

  • NAB Pay for Android, converting your phone into a Tap & Pay digital wallet. Once approved you can download the app, and you don’t even need to wait for your new plastic card to arrive in the mail.
  • One Touch ID fingerprint log-in on your phone.
  • Block and unblock your card instantly if you temporarily mislay it.
  • Control permitted transaction types with a swipe, turning payWave, overseas or online transactions off or on.
  • Apple Pay, Google Pay and Samsung Pay are also available.
  • NAB Defence, always on the lookout for suspicious transactions, your protection against fraud.
  • Verified by Visa, another layer of online security to ensure that the purchaser is really you.
  • 24/7 global emergency assistance by phone, if your card is lost or stolen.

Check out the competition on low-cost platinum benefits

You’ll want to make sure you are getting the best deal for your situation by comparing this card with its competitors before you make your decision.

In our Features area, click on ‘All features’, scroll down to ‘Low Interest Credit Cards’ and then select ‘Cheap Credit Cards’, to compare the benefits you can get elsewhere without paying a high annual fee.

One of the cheapest benefit-laden cards currently available

Regular travellers in particular will be able to make good use of this card’s complimentary insurance policies. $90 is a very low fee to pay for insurance benefits worth an estimated $1,370 per year. Even if you do take up the balance transfer option, when your balance is paid off those enticing platinum benefits will still be waiting.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

User reviews

3.6 out of 5.0 based on 23 reviews83% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Disappointing and misleading

Reviewed and not recommended by Annoyed on 07 Mar 2017

The application process took three weeks. Once the account had been created, I then checked my other account each day waiting for the balance transfer to be completed. Nothing was happening. I phoned the bank and they told me that sometimes it can take five business days.

Finally I received a letter in the post advising they were unable to process as there was an error in the account to be transferred. This letter was dated 23 February and I received it on 6 March! It stated that if they didn’t hear from me within 14 days, they wouldn’t proceed. I immediately phoned them to enquire about the problem. It turns out that they don’t provide credit card transfer to all accounts. Given that the application required all this information when I applied online, it would have made sense if I was advised of this from the beginning.

I’ll be going into the branch and closing the account … such a waste of time. Really disappointing given that NAB seem to be the only bank that pick and choose. I would have expected a far better service given it’s one of the major banks in Australia. That’s one of the main reasons I went with them.

Best card currently available

Reviewed and recommended by Heather on 11 Oct 2016

I have a variety of credit cards, some for rewards, others for specific purchases and one for its interest rate. It is possible to have a credit card at half the interest of others. So why use anything else but a NAB Premium Credit Card? I am planning on closing the others, as testing them has only demonstrated that my NAB Premium Credit Card really is the best card currently available.

AmEx card earns 1.5 points per dollar

Reviewed and recommended by Janice on 29 Sep 2016

I love this card since I discovered, recently, that it is accepted by Coles, Woolworths, IGA, PayPal, Amcal, my newsagent, chiropractor, and Telstra, and maybe more. I will keep trying, as it earns 1.5 frequent flyer points for each dollar spent up to $25,000, and I got 60,000 points to sign up. This seems to be the best points deal available. The negative ts the annual fee of $129.

OK for travel insurance, but a few problems

Reviewed and not recommended by Anney on 25 Sep 2016

I claimed through the travel insurance that came free with this card and it worked, although there were a few problems. The phone number for the insurance provider that had been given was wrong, and when I finally got to make the claim it took a very long time to be processed. Finally the money was deposited into a bank account number different from the one I provided, so there were additional delays. I continually asked for a statement to show what had been paid and finally received one months later.

Good online budgeting tool

Reviewed and recommended by Catherine on 24 Sep 2016

We pay in full every month so never pay interest.

The internet login allows budgeting in detail, to see what we’re spending, including comparing to prior month/quarter/year etc.

NAB have contacted me VERY quickly when suspected unauthorised transactions have flagged with them. (Sometimes these transactions have been okay, and at other times not authorised by me).

Rip-off annual fee

Reviewed and not recommended by Malik on 21 Sep 2016

It’s good for the AmEx card option for rewards, but not worth it to get one if for other reasons. You can get a card with much better rewards directly issued by AmEx.

You need to decide yourself if the card is good for you or not. I like it because it links with a package.

Like the payWave feature

Reviewed and recommended by jamie on 20 Sep 2016

I use a NAB Visa card and it’s fantastic. I strongly recommend this card.

I use payWave all the time, especially when I’m in a rush.

I have suggested this card to many friends and family. I’ve tried a few, and this has to be one of the best.

Saved a ton

Reviewed and recommended by Paula on 10 Aug 2016

This card was great. We were able to book a holiday and pay it off because of the 0% interest for 15 months.

it was quick and easy to apply for, and the card was delivered quickly. I even recommended it to another friend who also applied for it and got it.

Switched from Low Annual Fee Card

Reviewed and not recommended by Norina on 18 Jul 2016

It’s an OK card, and it has its good and bad points. I’m just not too sure what other cards are out there, and if they compare. I have looked around to see what is there.

My card was updated from the Low Annual Fee Card and I was given this one instead. I just hope the annual rate does not go up when renewal is due.

Generally pleased with this card

Reviewed and recommended by Grant on 06 Jul 2016

Offers a fast and convenient service and the security is good. An attempt to scam my card was picked up quickly by the bank and communicated well with me.

I would recommend this product to other prospective customers looking for solid service.

Show 13 more reviews
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Same as standard
Rewards program
Temporary residents


Additional cardholders
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


Interest charged from
Purchase date
Interest free period
Up to 44 days on purchases
Minimum repayment

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months2%90% of credit limit21.74% p.a.

Balance transfers to this card

Balance transfer earns rewards
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
90% of credit limit
Available to existing customers

Banks you can't balance transfer from

You can't balance transfer to the NAB Low Fee Platinum Card at the promotional balance transfer rate from:

  • NAB Business
  • NAB

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months2%90% of credit limit 21.74% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

Cash advances 1.81% 21.74% p.a.
Purchases 1.65% 19.74% p.a.


Annual fee
$90 p.a.
Cash advance fee
whichever is greater, $2.50 or 2%
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Temporary residents are eligible
Age Pension, Disability Pension, Overseas Pension, Veteran's Pension and Widower's Pension are acceptable.
Austudy, Carer's Allowance, Child Support Payments, Family Tax Benefits and Parenting Payments and Foster Care Allowance are acceptable.
Joint applications are not allowed
Youth Allowance is not acceptable.
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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Rated 4.8 out of 5 for customer satisfaction.
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