Purchase rate
12.99% p.a.
Balance transfer rate
0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)
Annual fees
$59
Interest free days on purchases
55
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Mozo editorial review NAB Low Rate Card

Last updated: 16 August 2020.

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What's hot
  • $59 annual card fee
  • 0% p.a on purchases for 20 months (2% balance transfer fee)
  • 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? Well, the NAB Low Rate Credit Card has a 0% p.a. purchase rate for 20 months and there's also a nice low annual fee of $59 and you won't be punished (well, not too harshly) for the odd late bill.

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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, but the best part is, for the first 20 months you can make interest-free purchases. Just bear in mind a one-off 2% balance transfer fee also applies.

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.

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Who is it good for

This card could be great for people looking to repay 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%) which will start accruing interest immediately if you withdraw cash using the card.

Details

Rates and fees information correct as at 28 October 2020 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.
Rates
  • 12.99% p.a.

  • none

  • 0% p.a. for 20 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%

  • $0.00

  • $0.00

  • $0.00

Features
  • $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.

Customer Reviews

How are NAB credit cards rated by the Mozo community?

Overall
6.7/10

Based on 4258 NAB credit card reviews

Price
5.9/10
Features
6.0/10
Customer service
6.7/10
Convenience
7.5/10
Trust
6.9/10

Latest reviews of NAB Low Rate Card

  • Overall 10/10
    Excellent.

    I like using NAB because they credit your money forward early and their arm's are easy to use.

    Read full review

    I like using NAB because they credit your money forward early and their arm's are easy to use.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Gregory, New South Wales reviewed 4 months ago
  • Overall 5/10
    Not interested in their customers.

    Why can't they look after long term customers with the same offers they make to new customers.

    Read full review

    Why can't they look after long term customers with the same offers they make to new customers.

    Price
    5/10
    Features
    -1/10
    Customer service
    -1/10
    Convenience
    7/10
    Trust
    -1/10
    Less
    Tracey, Western Australia reviewed 4 months ago
  • Overall 10/10
    Staff are caring and products comparable to others

    I have a staff member product as I am a retired employee and as such get a good deal with some products. I worked for NAB for 40 years and know that generally they do care about customers and aim to do the best for them. Their products are generally similar to all other major Banks but some may vary slightly so investigation of alternatives is a good idea.

    Read full review

    I have a staff member product as I am a retired employee and as such get a good deal with some products. I worked for NAB for 40 years and know that generally they do care about customers and aim to do the best for them. Their products are generally similar to all other major Banks but some may vary slightly so investigation of alternatives is a good idea.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Peter, Victoria reviewed 5 months ago
  • Overall 6/10
    Good.

    Customer service is excellent.

    Read full review

    Customer service is excellent.

    Price
    6/10
    Features
    6/10
    Customer service
    8/10
    Convenience
    7/10
    Trust
    6/10
    Less
    Keith, New South Wales reviewed 6 months ago
  • Overall 6/10
    A bit clunky. Could use some refinement.

    I'd never recommend a credit card to anyone. I've had this for 10 years and need to review. Can't fault NAB service but their internet banking is as good as it could be.

    Read full review

    I'd never recommend a credit card to anyone. I've had this for 10 years and need to review. Can't fault NAB service but their internet banking is as good as it could be.

    Price
    5/10
    Features
    1/10
    Customer service
    8/10
    Convenience
    7/10
    Trust
    4/10
    Less
    Greg, Northern Territory reviewed 6 months ago
NAB

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.

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13.74% p.a.

0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)

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20.74% p.a.

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11.99% p.a.

0% p.a. for 20 months and then 21.74% p.a.

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19.99% p.a.

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$299 $199 in the first year

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0% p.a. for 25 months and then 20.24% p.a. (1.50% balance transfer fee)

$58 $0 in the first year

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12.99% p.a.

0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)

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0% p.a. for 7 months then 13.99% p.a.

0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)

$55 $0 in the first year

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1 point up to $10,000/month, then
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0% p.a. for 18 months and then 21.99% p.a. (1.00% balance transfer fee)

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$55 $0 in the first year

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13.74% p.a.

0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)

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12.99% p.a.

0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)

$59

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11.99% p.a.

0% p.a. for 20 months and then 21.74% p.a.

$49 $0 in the first year

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12.49% p.a.

0% p.a. for 25 months and then 20.24% p.a. (1.50% balance transfer fee)

$58 $0 in the first year

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Vertigo

0% p.a. for 7 months then 13.99% p.a.

0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)

$55 $0 in the first year

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Clear Credit Card

0.90% p.a. for 15 months then 14.99% p.a.

0.90% p.a. for 15 months and then 22.24% p.a.

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11.99% p.a.

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11.99% p.a.

0% p.a. for 20 months and then 21.74% p.a.

$49 $0 in the first year

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11.99% p.a.

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$58 $0 in the first year

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$55 $0 in the first year

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0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)

$55 $0 in the first year

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