Purchase rate
12.99% p.a.
Balance transfer rate
0% p.a. for 32 months and then 21.74% p.a. (0% 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: 19 July 2021

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What's hot
  • $59 annual card fee ($0 for first year)
  • 0% p.a on balance transfers for 32 months (0% BT fee)
  • 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 32 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.

Finally, for credit card users looking to banish existing debt, there's also currently a 0% balance transfer rate for 32 months. At the moment, NAB is also not charging a balance transfer fee either. Just bear in mind a that once that 32 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 20 January 2022 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.


0% p.a. for 32 months and then 21.74% p.a. (0% balance transfer fee)


21.74% p.a.




$0 in the first year




2%, Min $2.50










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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