NAB Low Rate Business Card | Review, Comparison & Application

NAB Low Rate Business Card

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Card features
balance transfer
purchase rate
annual fee
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NAB Low Rate Business Card
NAB Low Rate Business Card
0% p.a. for 12 months on purchases.
No annual fee for the first year.
Low 13.25% p.a. rate on purchases and cash advances.
Add to comparison
12 months
0% p.a.
then 13.25%
1st year
then $60

Pros & cons

What's good?

What's not so good?

0% p.a. for 12 months on purchases.
No annual fee for the first year.
Low 13.25% p.a. rate on purchases and cash advances.
Minimum facility credit limit of $5,000
Enable for Apple Pay and Visa payWave for making purchases contactless and faster.
Experience fast online application.
There’s a small annual fee to pay.

*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 Rate Business CardReviewed by Yvonne Taylor

Just because you’re operating a business, it doesn’t mean that you can’t make good use of a credit card with a low interest rate for fuss-free cash flow management. You may never need to use the low interest rates attached to the NAB Low Rate Business Card, but they will always be there, your safety net to manage temporary liquidity glitches without having to endure the delay of a time-consuming loan application process.

And yes, it’s low interest ‘rates’, not ‘rate’. Remarkably, there’s a low cash advance rate as well as a low purchases rate, and the purchases rate is in fact 0 percent p.a., and the annual fee $0, for the whole of the first year.

13.25 percent p.a. ongoing purchases interest rate

If everything goes according to plan, you may never need to pay any interest on your business purchases. You can extract every last cent of benefit from the up to 55 interest-free days allowed every month, by timing payment of your business creditors to occur right at the beginning of the billing cycle. Pay the full balance owing on the due date each month, and you will never incur interest charges.

But if the day arrives when you need some temporary leeway because your working capital won’t quite stretch to cover a major purchase in the short term, or because a significant debtor, important to your business, has asked for extra time to pay, you can turn to this card to keep your business ticking over because its interest rates are relatively reasonable.

As a successful business person you will already know that a credit card, however low its interest rate, can only be a temporary solution. Long-term working capital needs are best met via a bank loan or overdraft.

Cash advance rate is also a low 13.25 percent p.a.

It’s unusual to find a credit card, especially a business card, with a low cash advance rate to match its low purchases rate. In this case, a 13.25 percent p.a. cash advance rate delivers extra flexibility. The business principal, and any staff members who are cardholders on the account, will have the added security of knowing that they have instant access to cash for business purposes should the need arise.

Remember, however, that interest on cash advances is charged from the transaction date until full repayment date. There are no interest-free days on cash advances.

Introductory 0 percent interest rate on purchases

Here’s another working capital facility you may wish to use. During the first year you will not incur any interest at all on purchases. At the end of each billing cycle you may choose to make only the 2 percent minimum monthly repayment, without incurring any interest charges.

After 12 months you may have generated an extremely large balance (which still needs to fit within your credit limit). So you will need to make plans well in advance to make sure that you have the cash on hand for full repayment, otherwise even the relatively low interest rate applicable will still become a burden that may harm your business.

No annual fee in the first year

To make that first year even more agreeable, NAB will waive the annual fee. In the second and subsequent years you’ll pay a very manageable $60.

Attach multiple cards with individual limits

Unless you’re a one-person business you’re going to need more than one card on the account. You can have four additional card free of charge, for your spouse or trusted employees to use for business purposes.

You can set an individual credit limit for each card, and you also receive further protection with free NAB Commercial Cards Unauthorised Transaction Insurance.

Every month you will receive individual statements detailing the transactions made by each cardholder, as well as an overall summary statement for the total card account.

Put your business name on your card

A business needs to take every opportunity to promote its existence. You can add your business name to your card to reinforce your professional identity.

Easy application process

To make it easier to apply for the card, you can upload your financial data into the card application, from any software package. If your accounting software happens to be MYOB or Xero the process is even easier, since either you or your accountant can connect NAB to your financial data via a secure login.

Business eligibility

To apply for any credit card you need to be an Australian citizen or resident. And for this business card you need to be a sole trader, a partnership, a company or a trustee, with an ABN and registered for GST. Your annual turnover needs to be at least $75,000, and you need to have been in business for at least a year.

Other cards to consider

You can compare this card with other business credit cards, including business rewards cards, on our Business Credit Cards page.

Flexible cash flow management for small business

This card could provide you with the only working capital standby your small business will ever require. The low purchases and cash advance interest rates offer a fallback arrangement in times of temporary need, without having to apply for a bank loan in a situation where speed may be essential. For a young business, the 12 months’ waiver on purchases interest and annual fees could facilitate expansion, and the monthly statements will always be a useful tool for expense analysis and control.

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.

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 55 days on purchases
Minimum repayment

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfersN/AN/AN/A90% of credit limit N/A
Purchases0% p.a.12 monthsN/AN/A 13.25% p.a.

Ongoing interest rates

Cash advances 1.10% 13.25% p.a.
Purchases 1.10% 13.25% p.a.


Annual fee
$0 p.a.
Annual fee 2nd year
$60 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
Earn a regular income of more than $75,000 per year
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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