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 22 January 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.
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 4275 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

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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

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NAB

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19.74% p.a.

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

$30

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

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Low Fee Platinum Card

19.74% p.a.

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

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NAB

Rewards Platinum Card

19.99% p.a.

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

$195

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Qantas Rewards Signature Card

19.99% p.a.

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

$395 $295 in the first year

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NAB

Rewards Signature Card

19.99% p.a.

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

$295

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0% p.a.

No current offer

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0% p.a. for 15 months then 11.99% p.a.

No current offer

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10.99% p.a.

0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

$49 $0 in the first year

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13.74% p.a.

0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

$59

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11.99% p.a.

No current offer

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13.99% p.a.

0% p.a. for 24 months and then 21.49% p.a.

$55 $0 in the first year

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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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3.99% p.a. for 6 months then 8.99% p.a.

3.99% p.a. for 6 months and then 8.99% p.a.

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19.99% p.a.

0% p.a. for 18 months and then 21.99% p.a. (1.00% balance transfer fee)

$299 $199 in the first year

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100,000

1.25 points uncapped

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$279 $139 in the first year

200,000

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1.25 points uncapped

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Qantas Premier Platinum

Qantas Frequent Flyer

$299 $199 in the first year

100,000

1 point up to $10,000/month, then
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0.75 points up to $2,500/month, then
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Amplify Rewards

$279 $139 in the first year

200,000

1.5 points uncapped

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0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

10.99% p.a.

$49 $0 in the first year

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0% p.a. for 26 months and then 20.99% p.a.

20.74% p.a.

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Vertigo

0% p.a. for 24 months and then 21.49% p.a.

13.99% p.a.

$55 $0 in the first year

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0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

13.74% p.a.

$59

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Amplify Platinum

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

0% p.a. for 7 months then 19.74% p.a.

$99 $0 in the first year

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

11.99% p.a.

$49 $0 in the first year

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19.74% p.a.

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

12.49% p.a.

$58 $0 in the first year

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0% p.a. for 15 months then 11.99% p.a.

No current offer

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10.99% p.a.

0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

$49 $0 in the first year

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3.99% p.a. for 6 months and then 8.99% p.a.

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11.99% p.a.

No current offer

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13.99% p.a.

0% p.a. for 24 months and then 21.49% p.a.

$55 $0 in the first year

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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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13.74% p.a.

0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

$59

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13.99% p.a.

0% p.a. for 24 months and then 21.49% p.a.

$55 $0 in the first year

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0% p.a. for 15 months then 11.99% p.a.

No current offer

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10.99% p.a.

0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

$49 $0 in the first year

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ME

frank Credit Card

11.99% p.a.

No current offer

$0

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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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3.99% p.a. for 6 months then 8.99% p.a.

3.99% p.a. for 6 months and then 8.99% p.a.

$45

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ANZ

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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 Platinum

0% p.a. for 15 months then 12.99% p.a.

6.99% p.a. for 12 months and then 21.49% p.a.

$99 $49 in the first year

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NAB

StraightUp Card

0% p.a.

No current offer

$120 $10/month - waived if no spend & no balance owing