NAB Low Rate Card

0% p.a. for 6 months then 13.99% p.a.

0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)

$59

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NAB Low Rate Card Review

Rates and fees information correct as at 24 June 2018.

Review published: 16 January 2012

What's hot:

  • $59 annual card fee

  • 0% p.a on purchases for 6 months

  • Up to 55 interest free days

What's not:

  • 21.74% cash advance rate

  • No reward program

Mozo snapshot:

Can a credit card really be kind to cardholders? The NAB Low Rate credit card has a 0% purchase rate for 6 months and there is also a friendly low annual fee of $59 and you won't be punished (well, not too harshly) for the odd late bill.

Key features:

No matter what your credit requirements are this year, the NAB Low Rate card could suit you.

The purchase rate for the NAB Low Rate is 13.99% which is fairly standard for a low rate card, but the best part is, for the first 6 months you can put purchases on your card interest free.

The late payment fee is $15 - hard to believe when other cards will whack you with penalties of $35 and up - but with 55 days interest free, you'd never stray into late-payment territory, right? And the fee for running over limit? Nada.

It's a Visa card so you can Tap and Go for purchases under $100 and use it anywhere in the world where Visa is accepted. Overseas transactions (in person and online) will attract a 3% foreign exchange margin.

Who it's good for:

Those looking to repay debt over a long timeframe.

Any catches?

Like most credit cards, the NAB Low Rate credit card has a high cash advance rate (21.74%) which will start accruing interest immediately if you withdraw cash using the card.

How are NAB credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.2

Based on 1409
NAB credit cards reviews

6.3 6.4 7.2 7.6 7.4

Read NAB credit card reviews by the Mozo community

Latest reviews of NAB Low Rate Card

NAB

NAB Low Rate Card credit card review

Overall rating   6 / 10

Happy with it

It's ok, nothing special.

Full review

It's ok, nothing special.

    Price   5 / 10

    Features   2 / 10

    Customer service   4 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Catherine (VIC), reviewed 3 months ago

NAB

NAB Low Rate Card credit card review

Overall rating   5 / 10

Great customer service

The staff are always very helpful and pleasant when I have questions or enquiries.

Full review

The staff are always very helpful and pleasant when I have questions or enquiries.

    Price   6 / 10

    Features   3 / 10

    Customer service   4 / 10

    Convenience   8 / 10

    Trust   5 / 10

Less

Catherine (QLD), reviewed 4 months ago

NAB

NAB Low Rate Card credit card review

Overall rating   8 / 10

Meets my needs.

I have always had good service and help from my bank.

Full review

I have always had good service and help from my bank.

    Price   7 / 10

    Features   -1 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Jannine (NSW), reviewed 5 months ago

NAB

NAB Low Rate Card credit card review

Overall rating   5 / 10

Good

It's OK

Full review

It's OK

    Price   5 / 10

    Features   6 / 10

    Customer service   3 / 10

    Convenience   5 / 10

    Trust   5 / 10

Less

Craig (VIC), reviewed 7 months ago

NAB

NAB Low Rate Card credit card review

Overall rating   10 / 10

I would recommend NAB credit cards to anyone

Nab have been very good to me as I am struggling to pay it back - they had an option for me to pay it back with less money.

Full review

Nab have been very good to me as I am struggling to pay it back - they had an option for me to pay it back with less money.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Tracey (QLD), reviewed 7 months ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • 13.99% p.a.

  • 0% p.a. for 6 months

  • 0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)

  • yes

  • 21.74% p.a.

  • 55

Fees

  • $59.00

  • none

  • none

  • none

  • $15.00

  • 2%, Min $2.50

  • 3.00%

  • $7.00

  • $2.50

  • $0.00

Other financial bits

  • $25.00

  • 2.0

Features

  • 1

  • none

  • Standard balance transfer rate of 0% for 6 months is not available in conjunction with the balance transfer special offer.

About NAB

National Australia Bank is one of the big four banks who provide a large variety of financial products to the Australian Community. In recent times NAB has set itself apart from the other big four banks; by expanding their ATM network, removing many fees and maintaining low standard variable home loan rates. NAB's changes to its financial products have made their home loan, credit card, loans, savings accounts and personal loans more competitive within the banking industry.

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

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