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NAB Premium Card Online Only Offer

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card features
balance transfer
purchase rate
annual fee
your savings
NAB Premium Card Online Only Offer
0% p.a. for 24 months on balance transfers.
7 types of complimentary insurances including overseas travel insurance.
24 hour, 7 day Platinum Concierge Service.
Add to comparison
24 months
0% p.a.
then 21.74%
with a 3% fee
19.74% p.a.

Pros & cons

What's good?

What's not so good?

0% p.a. for 24 months on balance transfers.
No cost for additional cardholders.
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.
If you do a balance transfer a one-off 3% balance transfer fee applies to the amount that you transfer.


Our review of the NAB Premium Card Online Only Offer

If you’re in the market for a long, long zero interest balance transfer that won’t cost you a fortune in annual fees, you may have found what you’re looking for in the NAB Premium Card Online Only Offer It packages a 24 months 0% p.a. balance transfer with all the platinum benefits you normally get with the NAB Premium Card – wide-ranging complimentary insurance plus a concierge service – without increasing the very reasonable annual fee.

A little extravagance without the normal pain

Even the best-regulated finances sometimes experience a blowout (Christmas? House renovations? The extra-special overseas holiday?) and credit cards can be maxed out to a point where clearing the balance at the looming month end becomes impossible. Although you may have rigorously avoided credit card interest in the past, you may now be contemplating paying 20%+ p.a. for a protracted period.

This can be avoided. Transfer your balance (or balances, if you have more than one card) to your new NAB card, and plan to pay off your debt in 24 months manageable, bite-sized chunks without incurring any interest. You can bring across an amount equal to 90% of your approved new credit limit.

Make sure you understand all the implications

There are three things you should take note of when applying for this balance transfer deal.

Firstly, you will pay a 3% one-off balance transfer fee upfront. That means a $10,000 transferred balance instantly becomes a $10,300 debt to be repaid, which is in fact comparable to paying interest of slightly more than 1.5% p.a. for two years. But 1.5% p.a. is far better than 20% p.a.

The second thing to be aware of is that the revert interest rate – the rate that will be applied to the debt if you can’t clear it after 24 months – is a punishing 21.74% p.a., the normal cash advance rate for this card. So diarise the expiry date of the zero-interest terms and plan to have the balance fully repaid by then.

Finally, you will need to have another means of payment for your regular bills and purchases for the next two years: either cash or another card. This is because having an unpaid balance transfer means that you will forfeit the normal monthly interest-free period of Up to 44 days on purchases. Any purchases made with the card will attract interest at 19.74% p.a., the ongoing purchase rate, from the day they are made.

If you look at the regular NAB Premium Card, you will see that it avoid this last problem for much of the time, by combining 15-month zero-interest offers on both purchases and balance transfers. But if you want the longer balance transfer period you will have to be prepared to sacrifice the ability to use the card for purchases, until the balance is cleared.

Complimentary insurance you can use – eventually

NAB’s premium card range does not skimp on insurance cover. There are seven policies to cover most of the travel and shopping risks you are ever likely to meet:

  • Overseas travel insurance protecting the cardholder and their family against the cost of emergency medical expenses, lost luggage, unavoidable trip cancellation, rental car insurance excess, and more.
  • Interstate flight inconvenience cover, similar to the overseas travel cover, but for shorter, domestic trips and without the medical expenses cover.
  • Transport accident insurance, providing compensation for serious injury sustained on a plane, ferry, train or bus.
  • Domestic hotel burglary insurance, a NAB special that you won’t find on other banks’ cards, covering your personal possessions if they are stolen from your locked hotel room in Australia.
  • Extended warranty insurance, doubling the applicable Australian warranty on domestic appliances, up to a maximum of one extra year.
  • Purchase protection insurance, covering purchased items against loss, theft or damage for 90 days.
  • Price protection cover, reimbursing the difference if you see your recently-purchased item advertised in print at a much lower price.

That’s a remarkable amount of free cover, but there is a catch. In order to activate the insurance you need to use your new card to buy the item, or pay the fare, or the hotel bill, or spend $500 on your overseas trip. Trouble is, since you will have chosen this card for the long zero-interest balance transfer, you can’t use it for purchases without attracting immediate interest at 19.74% p.a.

There are two ways to look at this. You could say, “Okay, I won’t be able to take advantage of the free insurance for the first two years”. But there is another way. If you want to be covered for that overseas trip, or for the extended warranty on an expensive appliance, pay with the card to activate the insurance, but put into your card account enough cash to cover the purchase. Do it the same day or very soon afterwards. The order in which NAB allocates your repayments means that the cash will be allocated to your purchase, not to the balance transfer, and you should be able to avoid paying interest.

Platinum concierge service

It wouldn’t be a platinum card without the obligatory concierge service. Although you may regard this as something you’re never likely to use, it can be worth looking into. NAB say they can help with:

  • Travel planning and booking
  • Accommodation reservations
  • Advice about entertainment and where to eat
  • Event and concert ticket booking and delivery
  • Flower delivery
  • Party planning
  • Medical and legal services when you’re away from home

Imagine how useful these services might be in a foreign country, especially one where you don’t speak the language.

Visa Front Line Access

Here’s another platinum extra. Jump straight to the head of the queue with reserved seating for the hottest tickets in town.

All this for $90 p.a. a year

For the relatively low $90 p.a. annual fee you get one of the longest zero-interest balance transfer deals currently available, plus a bucketful of platinum benefits you may still be able to use while you’re paying off the balance, provided you plan carefully.

Competitor cost comparison

The main competitor to the NAB Premium Card Online Only Offer is the Citi Rewards Platinum Card, which also has a 24 months 0% p.a. balance transfer offer. However, its 1.5% upfront transfer fee is lower, while its annual fee is higher. Here’s how the two cards stack up against each other for a $10,000 balance transferred from a card charging interest at 20% p.a.:

  • Citi Rewards Platinum Card Interest saved $3,622. Costs include upfront fee $150, plus annual fees $49 p.a. (first year) and $149 p.a. (second year), total $598. Net saving $3,024.
  • NAB Premium Card Online Only Offer Interest saved $3,622. Costs include upfront fee $300, plus an annual fee of $90 p.a., total $480. Net savings $3,142.

The Citi Rewards Platinum Card is a points-earning card, as its name implies, and its insurance benefits are comparable to those of the NAB card. But since points can’t really be earned while there is an unpaid balance transfer in place, the net savings comparison, putting the NAB card in first place, is reasonable. And if you need a supplementary card, the NAB card looks even better, since it has a supplementary card charge of $0 p.a. compared with the Citi card’s $49 p.a.

A card clearly focused on balance transfer benefits

There’s no doubt that this card is aimed at cardholders looking for the longest zero-interest balance transfer they can find, at the lowest cost. The NAB Premium Card Online Only Offer ticks both these boxes. And while you cannot really take full advantage of its extensive platinum card benefits until the third year, it will be good to know that they are waiting there as your reward for paying off your transferred balance.

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 44 days on purchases
Minimum repayment

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.24 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 Premium Card Online Only Offer at the promotional balance transfer rate from:

  • NAB

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.24 months3%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
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
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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