Low Rate Card - Balance Transfer Offer card image

NAB Low Rate Card

Advertiser disclosure
The details shown below are for a card without rewards
The details shown below are for a card without rewards

Choose the version of this credit card that suits you best

Name Rewards program
Low Rate Card - Balance Transfer Offer n/a
Low Rate Card - Cash Back Offer n/a
  • Low Rate Card - Balance Transfer Offer
    Rewards: n/a
  • Low Rate Card - Cash Back Offer
    Rewards: n/a
Purchase rate
13.49% p.a.
Balance transfer rate
0% p.a. for 28 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
55
Go to site
Purchase rate
13.49% p.a.
Balance transfer rate
0% p.a. for 12 months and then 21.74% p.a. (3.00% balance transfer fee)
Annual fees
$59
Interest free days on purchases
55

Mozo editorial review NAB Low Rate Card - last updated: 13 February 2024

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What's hot
  • $59 annual card fee ($0 for first year)
  • 0% p.a on balance transfers for 28 months (2% BT fee)
  • Up to 55 interest free days
  • 2022 Mozo Experts Choice Award winner
What's not
  • 21.74% p.a. variable 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 28 months for a 2% fee (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. It also won the 2022 Mozo Experts Choice Award for best Balance Transfer Credit Card.

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Key features

The NAB Low Rate Credit Card hits the ground running with a 13.49% p.a. variable 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.

For credit card users looking to banish existing debt, there's also currently a promotional 0% balance transfer rate for 28 months. Just bear in mind that a 2% balance transfer fee applies, and once the 28 month period is over the rate will revert to 21.74% p.a. 
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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 variable cash advance rate (21.74% p.a.) which will start accruing interest immediately if you withdraw cash using the card.

Details

Rates and fees information correct as at 19 March 2024 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

13.49% p.a.

none

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

yes

21.74% p.a.

55

Fees

$59.00

$0 in the first year

none

none

$15.00

3%, Min $3

3.00%

$0.00

$0.00

$0.00

Features

$25.00

2.0

1

none

Payment options

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

Rewards privileges

Purchase Protection

Details

Rates and fees information correct as at 19 March 2024 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

13.49% p.a.

none

0% p.a. for 12 months and then 21.74% p.a. (3.00% balance transfer fee)

yes

21.74% p.a.

55

Fees

$59.00

none

none

none

$15.00

3%, Min $3

3.00%

$0.00

$0.00

$0.00

Features

$25.00

2.0

1

none

Payment options

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

Rewards privileges

Purchase Protection

Other benefits

Receive up to $300 cash back with $100 per month for the first three months when you first open an account and spend $500 per month on purchases.

Customer Reviews

How are NAB credit cards rated by the Mozo community?

Overall
Price
Features
Customer service
Convenience
Trust
Based on 4336 NAB credit card reviews

Latest reviews of NAB Low Rate Card Credit Card

About NAB

Thumbnail icon for NAB
NAB

Low Rate Card

13.49% p.a.

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

$59 $0 in the first year

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American Express

Platinum Edge Credit Card

23.99% p.a.

No current offer

$195 $0 in the first year

Membership Rewards

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American Express

Qantas Ultimate Card

23.99% p.a.

No current offer

$450

Qantas Frequent Flyer

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American Express

Explorer Credit Card

23.99% p.a.

No current offer

$395

Membership Rewards

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G&C Mutual Bank

Platinum Visa Credit Card

19.99% p.a.

No current offer

$299

Qantas Frequent Flyer

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American Express

Velocity Platinum Card

23.99% p.a.

No current offer

$375

Velocity Frequent Flyer

Thumbnail icon for American Express
American Express

Qantas Discovery Card

23.99% p.a.

No current offer

$0

Qantas Frequent Flyer

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American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

Thumbnail icon for American Express
American Express

Qantas Ultimate Card

Qantas Frequent Flyer

$450

100,000

1.25 points up to 100,000 points/year, then
1 point uncapped

Thumbnail icon for NAB
NAB

Qantas Rewards Premium Card

Qantas Frequent Flyer

$250 $150 in the first year

70,000

0.66 points up to $3,000/month, then
0.33 points up to $6,000/month

Thumbnail icon for American Express
American Express

Qantas Premium Card

Qantas Frequent Flyer

$249

20,000

1 point uncapped

Thumbnail icon for NAB
NAB

Rewards Signature Card

NAB Rewards

$295 $145 in the first year

160,000

1.25 points uncapped

Thumbnail icon for American Express
American Express

Qantas Discovery Card

Qantas Frequent Flyer

$0

No current offer

0.75 points uncapped

Thumbnail icon for American Express
American Express

Velocity Escape Card

Velocity Frequent Flyer

$0

No current offer

0.75 points uncapped

Thumbnail icon for NAB
NAB

Qantas Rewards Signature Card

Qantas Frequent Flyer

$395 $295 in the first year

120,000

1 point up to $5,000/month, then
0.5 points up to $20,000/month

Thumbnail icon for Westpac
Westpac

Altitude Black

Altitude Rewards

$295 $150 in the first year

150,000

1.25 points uncapped

Thumbnail icon for NAB
NAB

Low Rate Card

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

13.49% p.a.

$59 $0 in the first year

Thumbnail icon for Citi
Citi

Premier Credit Card

0% p.a. for 6 months and then 22.24% p.a.

21.49% p.a.

$300 $150 in the subsequent years if you spend $48,000 on eligible purchases or cash advances in previous year., $150 in the first year

Citi Rewards Program

Thumbnail icon for Bank of Queensland
Bank of Queensland

Blue Visa Credit Card

0% p.a. for 9 months and then 21.74% p.a.

0% p.a. for 9 months then 20.74% p.a.

$60

Q Rewards

Thumbnail icon for Virgin Money
Virgin Money

Virgin Australia Velocity Flyer Card - Balance Transfer Offer

0% p.a. for 24 months and then 20.99% p.a.

20.74% p.a.

$149 $0 in the first year

Velocity Frequent Flyer

Thumbnail icon for Bankwest
Bankwest

More Mastercard

0% p.a. for 6 months and then 19.99% p.a. (1.00% balance transfer fee)

19.99% p.a.

$100

Bankwest More Rewards

Thumbnail icon for NAB
NAB

Low Rate Card

13.49% p.a.

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

$59 $0 in the first year

Thumbnail icon for American Express
American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

Thumbnail icon for HSBC
HSBC

Low Rate Credit Card

12.99% p.a.

0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)

$99

Thumbnail icon for Australian Unity
Australian Unity

Low Rate Visa Credit Card

9.90% p.a.

No current offer

$59

Thumbnail icon for MOVE Bank
MOVE Bank

Low Rate Credit Card

8.99% p.a.

0% p.a. for 6 months and then 8.99% p.a.

$59 $0 in the first year

Thumbnail icon for American Express
American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

Thumbnail icon for HSBC
HSBC

Low Rate Credit Card

12.99% p.a.

0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)

$99

Thumbnail icon for Australian Unity
Australian Unity

Low Rate Visa Credit Card

9.90% p.a.

No current offer

$59

Thumbnail icon for MOVE Bank
MOVE Bank

Low Rate Credit Card

8.99% p.a.

0% p.a. for 6 months and then 8.99% p.a.

$59 $0 in the first year

Thumbnail icon for Bank of Queensland
Bank of Queensland

Blue Visa Credit Card

0% p.a. for 9 months then 20.74% p.a.

0% p.a. for 9 months and then 21.74% p.a.

$60

Thumbnail icon for Westpac
Westpac

Flex Card

0% p.a.

No current offer

$120 $10 monthly fee waived if the outstanding balance on the previous statement is paid in full by the due date.

Thumbnail icon for NAB
NAB

StraightUp Card

n/a

No current offer

$240 $20/month - waived if no spend & no balance owing

Thumbnail icon for Community First Bank
Community First Bank

n0w Credit Card

n/a

No current offer

$228 Monthly fee is waived if account has a $0 balance and if card isn't used during the calendar month.

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