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NAB Low Rate Card

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My annual fee: 
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card features
balance transfer
purchase rate
annual fee
your savings
NAB Low Rate Card
APPLY BY 22 jan 17
73 reviews
0% p.a. on purchases and 0% p.a. on balance transfers for 15 months.
Make purchases with NAB’s lowest interest rate card and longest interest-free period.
Low $59 p.a. annual fee.
Add to comparison
15 months
0% p.a.
then 21.74%
with a 3% fee
15 months
0% p.a.
then 13.99%

Pros & cons

What's good?

What's not so good?

0% p.a. on purchases and 0% p.a. on balance transfers for 15 months.
There is a separate balance transfer offer you can choose. 4.99% p.a for 6 months, This is not available in conjunction with the promotional balance transfer offer shown.
Make purchases with NAB’s lowest interest rate card and longest 55 days interest-free period.
Low $59 p.a. annual fee.
Uses Visa payWave for making purchases contactless and faster.
Special offers on shows, events, experiences and movies from Visa Entertainment.
Emergency travel assistance from Visa Global Customer Assistance Services, 24 hours, 7 days.
Get a response in 60 seconds.
If you do a balance transfer a one-off 3% balance transfer fee applies to the amount that you transfer.
There’s a small annual fee to pay.
After the promotional period, the fallback is the cash advance rate is a high 21.74% p.a.


Our review of the NAB Low Rate Card

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 long zero interest offers on both purchases and balance transfers, the low ongoing purchase interest rate that kicks in when the introductory offers have expired, and the very reasonable annual fee.

0% p.a. on purchases for 15 months

The good thing about zero-interest offers on purchases is that they allow you to take up the balance transfer option as well. Having an unpaid balance transfer normally renders a card useless for purchases, because monthly interest-free days are forfeited. But the zero-interest offer on purchases overrides the lack of monthly interest-free days, meaning that the card can be used in the normal way right from the start.

0% p.a. balance transfer option for 15 months

So, since the zero interest offer on purchases is in place, you might as well bring across any accumulated credit card debt from your existing non-NAB card or cards, and take advantage of the corresponding 0% p.a. on balance transfers for 15 months. (This is a special offer for a limited time, replacing the normal balance transfer terms of 4.99% p.a. for six months.)

Balance transfers are a gift if you are an organised and disciplined credit card user, letting you use someone else’s cash for free, except for the 3% balance transfer fee. Once again, you could earn interest when you deposit in a bank account the funds you would otherwise have used to make repayments. Then pay off the balance in full at the end of 15 months in order to avoid paying the revert interest rate, which in this case is the purchase rate of 13.99% p.a.. (The cash advance interest rate is a fairly standard 21.74% p.a.)

Low 13.99% p.a. ongoing purchase interest rate

Many credit cards, just like this one, tempt new customers with an introductory 0% p.a. purchase rate. But introductory offers all expire eventually, and once that happens it can be difficult to pay off the purchase balance in full by the monthly payment due date. Even merely forgetting to make the full payment on time means that you will forfeit your interest-free days for the next two months. This can be painfully expensive, with standard credit card interest rates in the region of 20%. If your average monthly purchases are around $2,000, being just a couple of days late with your payment could cost you as much as $67 in interest.

However, the NAB Low Rate Card has a much more reasonable 13.99% p.a. interest rate, reducing your interest payment to $47 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 13.99% p.a. instead of around 20% is going to make an enormous difference.

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 hey, you do get a choice between a silver card and a pink card. Do Platinum and Premium cards offer that? No way.

Low annual fee

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

Other low rate cards to consider

Before you make your mind up, take a look at some competing cards with even lower purchase interest rates.

The ME frank Credit Card has an ongoing purchase rate of 11.99% p.a. with no annual fee, but it has no zero-interest balance transfer and purchases deals.

The St. George Vertigo Platinum Credit Card offers an ongoing purchase rate of 12.74% p.a., 0% p.a. on purchases for 6 months, and a competitive 18 months at 0% p.a. on balance transfers. The downside is the $99 p.a. annual fee, which does however include extensive insurance cover, including an overseas travel policy.

A card designed 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 balance transfer users. Frequent flyer and other rewards points collectors should look elsewhere, and if you expect anything other than basic Visa built-in benefits you won’t be impressed. But everyone, at any income or spending level, can find benefits in the combination of the zero interest introductory offers, a low ongoing purchase interest rate (even if it’s only for when you’re forgetful) and a low annual fee.

User reviews

3.8 out of 5.0 based on 73 reviews92% of reviewers would recommend this card.

Rates and fees
Customer service
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.

They won't increase my limit

Reviewed and not recommended by Frank on 07 Jan 2017

A lot of monthly costs mean I am always near or over my limit, and it becomes an issue. They won’t increase my limit. I’d hoped they would increase limit by $2-3k to help me in the short term. But I like NAB as a bank, as they do help me at times. I’m hoping for a better option.

Low revert rate on interest-free balance transfer

Reviewed and recommended by Rhys on 12 Dec 2016

NAB’S Low Rate Card has a low interest rate on both cash advances and everyday purchases. NAB offered a generous 16 months 0% interest balance transfer that I took advantage of to move some debt from a high-rate Virgin Australia card. The kicker to this is that even after the 16 months interest-free period, the balance transfer only reverts to the low rate (12.7%). Almost all other cards revert back to a much higher rate (20-21%), so this offers me great peace of mind.

NAB’s Internet banking portal is a breeze to use, with the text size, font, and layout clear and concise. The layout is easy to navigate to the most common areas like transfers, payments, account overview and bills.

Great interest-free period, great online service

Reviewed and recommended by Tiffany on 30 Nov 2016

I got this credit card for the interest-free period and transferred the debt from my old card onto it. I paid it off super fast and ended up closing my old card to keep this one.

The online banking is great and I love the interest rate. I would highly recommend this card if you are looking for a simple-to-use, good value credit card.

Saved a heap -15 months interest-free and low rate

Reviewed and recommended by Kate on 28 Nov 2016

I love this card! I switched from a high-interest card to my NAB low-interest card and have saved a ton of money. They offered me 15 months interest free on a balance transfer, which was amazing.

I would highly recommend this card to anyone who wants great rates and isn’t worried about not receiving points.

Interest-free period on purchases, but no rewards

Reviewed and recommended by Ben on 25 Nov 2016

My NAB credit card is a reliable card that I can always rely on. However, I get no rewards whatsoever. I want a low rate as I am saving for a wedding and I may need to use it, which is why I applied for this card as it has 15 months interest free on purchases.

It needs rewards though.

Interest-free balance transfer, good website

Reviewed and recommended by Toni on 01 Nov 2016

It’s easy to apply, with fast approval and zero interest on a balance transfer. I have saved money using this card.

And I wasn’t a NAB customer before applying for this card, but that didn’t matter. The website is user-friendly and easy to navigate. I recommend this credit card to everyone.

Low interest, easy to understand

Reviewed and recommended by Rachel on 29 Oct 2016

This is an amazing credit card with low interest. The card served its purpose on numerous occasions and is now being paid out easily.

The terms and conditions are easy to understand and straightforward.

This account is perfect for someone looking for a short-term answer which will be easy to pay out. I love it.

The best credit card for all kinds of uses

Reviewed and recommended by Christopher on 22 Oct 2016

This card has very low fees, is easily accessible, and has an interest-free period. What could be better than that?

It’s easy to apply and I have had no problems with the card whatsoever. It’s perfect, from uni students and people studying, all the way to business purposes and for everyday use. I highly recommend the NAB Low Rate Credit Card.

Never fails, excellent service

Reviewed and recommended by Veronica on 02 Oct 2016

My NAB Credit card has not failed me in any location that I have been, plus the service that I receive from NAB is excellent.

There’s an easy sign-up service, with good advice and different options to sign up for. I really think a choice of cards is excellent for different types of people and what they require.

Good for emergency expenses on low income

Reviewed and recommended by Leanne on 29 Sep 2016

It’s good for low incomes but no rewards come with this card. I originally got it for emergency expenses but have since found that once I have reached my limit of $5,000 it seems to take forever to pay it down when all I can afford is the minimum payment due each month. My sole income is a disabled pension from which I also pay my mortgage, food, medications, power, water, land rates, insurances and phone/internet services.

Show 63 more reviews

Basic details

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

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.15 months3%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 Rate Card at the promotional balance transfer rate from:

  • NAB

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.15 months3%90% of credit limit 21.74% p.a.
Purchases0% p.a.15 monthsN/AN/A 13.99% p.a.

Ongoing interest rates

Cash advances 1.81% 21.74% p.a.
Purchases 1.17% 13.99% p.a.


Annual fee
$59 p.a.
Cash advance fee
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 any level of income
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
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.
Youth Allowance is not acceptable.
Disclaimer: The minimum criteria pointers 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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