NAB Low Rate Credit Card

On website

NAB Low Rate Credit Card

Balance transfer

28 months at 0% p.a.

Purchase rate

13.49% p.a. ongoing

Annual fee

$0.00 for 1st year


  • Experience 0% p.a. on balance transfers for 28 months with a 2% balance transfer fee. Reverting to a variable cash advance rate of 21.74% p.a. after the promotional period.
  • Initial $0 annual card fee for the first year ($59 p.a. thereafter).
  • Receive a response within 60 seconds.

Pros and cons


  • 0% p.a. on balance transfers for 28 months.
  • A variable purchase rate of 13.49% p.a.
  • The waived annual fee for the first year.
  • Additional credit card is free.


  • There is a 2% balance transfer fee.
  • No rewards program for this card.
  • No insurance coverage.

About this credit card


Card usage

Apple Pay Enabled
Card Type
Gambling Transactions Allowed
Samsung Pay Enabled


Joint Application Accepted
Minimum Age
18 years
Minimum Credit Rating
Below Average, Fair, Good, Very Good, Excellent
Minimum Income
Temporary Residents Accepted

Additional cardholders

Additional Cardholders
Additional Card Fee Ongoing

Credit limits

Minimum Credit Limit
Maximum Credit Limit


Interest Charged From
Purchase date
Interest Free Period
Up to 55 days on purchases
Minimum Repayment Percentage

Balance transfers

Balance transfer offer

Balance Transfer Rate
Balance Transfer Period
28 months
Balance Transfer Fee Percentage

Balance transfer conditions

Balance Transfer From Personal Loan
Balance Transfer Limit Percentage
Balance Transfer Revert Rate

Rates, fees, charges

Cash advances

Cash Advance Rate
21.74% p.a.
Cash Advance Fee
Cash Advance Fee Percentage
Cash Advance Fee Threshold


Purchase Rate Introductory Offer
Purchase Rate Introductory Period
Purchase Rate Ongoing
13.49% p.a.

Account fees

Annual Fee Initial Year
Annual Fee Ongoing
Dishonour Fee
Duplicate Statement Fee
Foreign Exchange Fee Percentage
Late Payment Fee


Rewards program basics

Rewards Program
Rewards Program Annual Fee Initial Year
Rewards Points Expiry

Rewards points per $1 spent

Domestic Rewards Points Earn Rate
Government Rewards Points Earn Rate
Overseas Rewards Points Earn Rate

Additional perks


Cardholder's Domestic Hotel Burglary Insurance
Cardholder's Extended Warranty Insurance
Cardholder's International Travel Insurance
Cardholder's Interstate Flight Inconvenience
Cardholder's Personal Item Theft Cover
Cardholder's Price Protection Insurance
Cardholder's Purchase Protection Insurance
Cardholder's Refund Protection
Cardholder's Transport Accident Insurance

Travel and lifestyle

Airport Lounge Access Included
Concierge Service Included
Complimentary Flight Voucher Included
Complimentary QFF Membership Included

Our review


Customer service

Rates and fees



There’s more than one way to get rewards from your credit card. If collecting points is not your thing, why pay – via a high purchase interest rate and steep annual fee – for points you won’t ever use?

The true rewards that come with the NAB Low Rate Card are the low ongoing purchase interest rate, the very long promotional balance transfer offer, the higher-than-average (for NAB) interest-free days, and the very reasonable annual fee, waived in the first year.

Low 13.49% p.a. ongoing purchase interest rate

If you’re in the market for a low interest credit card, it’s possibly because you expect that you will sometimes be unable to clear your purchase balance in full by the due date, or simply forget to make the payment on time. The result will be that you will forfeit your interest-free days on purchases until you repay your outstanding balance. This can be painfully expensive, with standard credit card interest rates in the region of 20%.

However, since the NAB Low Rate Card has a much more reasonable 13.49% p.a. interest rate, your interest payment would be much lower in the same situation. And if you are going to have long-term credit card debt and have run out of balance transfer options, paying 13.49% instead of around 20% is going to make an enormous difference.

0% balance transfer option for 28 months

Bring across to your new card any accumulated debt from your existing non-NAB card or cards, and take advantage of 0% interest on balance transfers for a long 28 months – one of the longest offers around. There’s also no upfront balance transfer fee to pay, and, as a result of NAB’s new balance transfer policy, you can retain your interest-free days on purchases by paying for any new purchases in full each month.

This is a major departure from the previous policy on most credit cards of taking away the interest-free days of any cardholder who carried a balance of any kind past the payment due date. Now, NAB will allow you to keep your interest-free days on new purchases in the next month, provided you make the full ‘interest-free days payment’ shown on your statement. The ‘interest-free days payment’ is the closing balance minus the remaining balance transfer amount – in other words, the total of all purchases and cash advances not yet cleared from the account. It means that you can make use of the balance transfer offer and still use your new card for purchases.

High revert interest rate

Do be aware, though, that after 28 months you will pay interest at 21.74% (the ongoing cash advance interest rate) on your balance transfer amount if you haven’t paid it off in full, so try to pay off substantially more than the ‘interest-free days payment’ each month. Alternatively, collect in a savings account the cash needed for full repayment by the end of the promotional period, in order to avoid the revert rate.

Extra interest-free days

One of the downsides of NAB credit cards is that the vast majority of them come with only 44 interest-free days each month. But not this one. This is the only NAB card that comes with up to 55 interest-free days.

It may not sound like a big difference, but in fact, it amounts to 132 days of extra credit each year. That’s an extra 132 days in which your hard-earned cash can remain in your savings or mortgage offset account, either earning a little interest or reducing your mortgage interest bill.

No points, no insurance, no frills

Bonus benefits, like frequent flyer and other reward scheme points, airport lounge passes, and wide-ranging insurance cover, all come at a price. You will end up paying for them in the form of high purchase interest rates or, more likely, a high annual fee. With this very basic card, however, there’s none of this to pay for, and no complex rewards system to get your head around.

But some built-in benefits you can actually use

You will, however, receive lots of other benefits that make your card more convenient as well as more secure. You’ll be able to make contactless purchases up to $100 with Visa payWave, rely on NAB Defence to monitor fraudulent transactions, and take advantage of Verified by Visa online fraud protection service, as well as Visa Global Customer Assistance if you need emergency travel support.

Download the NAB app for more control over your card: One Touch ID lets you log in to your account with more security; you can block and unblock your card if you temporarily lose it (no need to cancel the card in this situation); you can turn payWave, online transactions and overseas transactions on and off with just a swipe; add NAB Pay for Android to your compatible phone to turn it into a Tap and Pay digital wallet.

Low annual fee, waived on the first year

While it’s possible to argue that a ‘no frills’ card like this one should have no annual fee at all, the $59 annual fee is pretty reasonable given that you’ll always get up to 55 interest-free days on purchases each month, provided you have no unpaid purchases and cash advances balance on your account. There’s also no annual fee for an additional cardholder, and you will get at least one complimentary benefit in the form of membership of Visa Entertainment’s pre-sales privileges and discounts for concerts, shows, movies, and sporting events.

But, even better, the annual fee is waived in the first year. You can try out all the benefits of the card for 12 months and pay no fee.

Simple application process, fast response

NAB estimates that it will take you about 15 minutes to complete their online application form, and you’ll get a response in one minute after that. If your application is successful, you can expect to receive your card in the mail within five business days.

Who it’s for

There’s no doubt that the uncomplicated NAB Low Rate Card is aimed at lower-income earners, since there is no minimum income requirement and a minimum credit limit of $1,000. Frequent flyer and other rewards points collectors should look elsewhere, and if you expect anything other than basic Visa lifestyle benefits you won’t be impressed. But everyone, at any income or spending level, can find benefits in the combination of a long-lasting balance transfer offer, a low ongoing purchase interest rate (even if it’s only for when you’re forgetful), and a low annual fee.

Other low-rate cards to consider

Before you make your mind up, take a look at some competing cards with low purchase interest rates, for example, the Bankwest Breeze Mastercard, the St.George Vertigo Visa, and the Westpac Low Rate Credit Card.


Reviewed by Credit Card Compare Staff

User reviews


Customer service

Rates and fees



Okay card, no complaints

Reviewed by Kelly

Makes shopping so much easier with payWave

Reviewed by Lisa

No extra hidden charges

Reviewed by Linda

Awesome service

Reviewed by Meredith

This one seems pretty good

Reviewed by Cath

Low fees and easy to use

Reviewed by Trish

Why you should apply

Reviewed by nab visa pay wave

A good choice credit card

Reviewed by kerri

Extremely happy with NAB

Reviewed by Exceptional NAB

Easy banking, less hassle

Reviewed by Jamie

Happy with my credit card

Reviewed by Kerry Lee Crocker

Good service

Reviewed by Ian

Good credit card rates to get me out of debt

Reviewed by Mandy

Best credit card I've ever had

Reviewed by Kat

Good value for money

Reviewed by Jaco

Generally happy with the card

Reviewed by Maxy

I wish I went with a different bank

Reviewed by Sandra

Excellent card

Reviewed by Jane

Supportive customer service, generally pleased

Reviewed by Kate supports nab

Love it

Reviewed by Debbie

Great all rounder

Reviewed by Matt

A simple, no frills card

Reviewed by Case27

This card is super easy to use

Reviewed by Patricia Miinchow

It helps me out when I have little emergencies.

Reviewed by Skits

I have a pink credit card

Reviewed by Sixela

Very happy with this card

Reviewed by I Faber

Helps me out when I have little emergencies

Reviewed by Skits

Good for emergencies

Reviewed by Skits

Unhappy, wish I never had this

Reviewed by Angela

I'm happy with my credit card

Reviewed by Mark Millikin

Not much help when things go wrong

Reviewed by Dave

Could be better

Reviewed by Anon

No dramas!

Reviewed by Cristie

I saved a lot of money

Reviewed by Paula

I love the customer service

Reviewed by Marie

I saved a lot of money with the interest rate

Reviewed by Brendon

Pleased with my credit card

Reviewed by Mihaela

Great low rate card!

Reviewed by Adam

I give them "credit"!

Reviewed by Melissa

Use as little as possible

Reviewed by Stewart

Average card

Reviewed by Malik

The best card for low earners!

Reviewed by Leannee

More money in my pocket

Reviewed by Kristi

Easy to use for small purchases

Reviewed by Alison

A good card

Reviewed by Melissa

It works for me

Reviewed by Jacob

It is OK, but not the cheapest

Reviewed by Khoa

Balance transfer used to pay off debt

Reviewed by J

Great security and service

Reviewed by Debbie

Overall good emergency card

Reviewed by Ella

Fantastic if you don't want to spend a lot

Reviewed by Sonja

Low fees, low interest.

Reviewed by Nicholas

Quality low rate card

Reviewed by D

Great, low-cost card, and easy to manage

Reviewed by Caroline

Convenient for direct debits and emergencies

Reviewed by Hazel

Reasonable, steady interest rate

Reviewed by Michael

Great credit card for the first timer

Reviewed by Thomas

Could be better

Reviewed by Mitchell

Good for emergency expenses on low income

Reviewed by Leanne

Never fails, excellent service

Reviewed by Veronica

The best credit card for all kinds of uses

Reviewed by Christopher

Low interest, easy to understand

Reviewed by Rachel

Interest-free period on purchases, but no rewards

Reviewed by Ben

Low revert rate on interest-free balance transfer

Reviewed by Rhys

They won't increase my limit

Reviewed by Frank

OK, but lack of rewards is disappointing

Reviewed by Rupert

Great interest saving card

Reviewed by Belinda

They listened to my complaint about interest rate

Reviewed by Tyron

Cheap and easy

Reviewed by Ellen

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