Purchase rate
12.99% p.a.
Balance transfer rate
0% p.a. for 26 months and then 21.74% p.a. (2.00% balance transfer fee)
Annual fees
$59 $0 in the first year
Interest free days on purchases
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Mozo editorial review NAB Low Rate Card

Last updated: 26 April 2021.

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What's hot
  • $59 annual card fee ($0 for first year)
  • 0% p.a on balance transfers for 26 months (2% fee applies)
  • Up to 55 interest free days
What's not
  • 21.74% p.a. cash advance rate
  • No reward program
Mozo snapshot

Can a credit card really be kind to cardholders? Well, the NAB Low Rate Credit Card has a 0% p.a. balance transfer rate for 26 months (and then 21.74% p.a.) and there's also an annual fee waiver for the first year (usually $59) and up to 55 days interest free.

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Key features

The NAB Low Rate Credit Card hits the ground running with a 12.99% p.a. purchase rate which is fairly standard for a low rate card. The annual fee is also a relatively low $59, but NAB will actually waive this for the first year for new cardholders.

The late payment fee is $15 - hard to believe when loads of 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 the limit? Nada.

It's a Visa card so you'll be able to Tap and Go on purchases under $100 and use it anywhere in the world where Visa is accepted. Keep in mind that overseas transactions (in person and online) will attract a 3% foreign exchange margin.

Perhaps best of all, well for credit card users with existing debt, is the 0% balance transfer rate for 26 months. Just bear in mind a that a one-off 2% balance transfer fee does apply, and once that 26 month period is over the rate will revert to 21.74% p.a. 
Who is it good for

This card could be a solid option for people looking for a relatively low rate, low fee card, or for anyone looking to get on top of their card debt over a longer timeframe.

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Any catches

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


Rates and fees information correct as at 14 June 2021 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
  • 12.99% p.a.

  • none

  • 0% p.a. for 26 months and then 21.74% p.a. (2.00% balance transfer fee)

  • yes

  • 21.74% p.a.

  • 55

  • $59.00

  • $0 in the first year

  • none

  • none

  • $15.00

  • 2%, Min $2.50

  • 3.00%

  • $0.00

  • $0.00

  • $0.00

  • $25.00

  • 2.0

  • 1

  • none

Payment options

Apple Pay, Google Pay, Samsung Pay, Garmin, Fitbit

Other benefits

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

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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.

See NAB credit cards