The NAB Low Rate Platinum Card has a low 13.99% standard purchase rate, which is one of the lower interest rates for a Platinum card. The card has an annual fee of $100 and there is a $15 late payment fee so be sure that you automate any repayments.
If you have credit card debt and are wanting to take advantage of the 0% p.a. balance transfer offer be sure to have a plan to pay it off before the end of the 6 month balance transfer period as any remaining balance will revert to the high 21.74% cash advance rate. And remember that there's a 2% balance transfer fee to consider.
Like many other credit cards if you make overseas purchases on the card you’ll need to factor in an overseas transaction fee which is 3% of the AUD purchase amount.
NAB’s Low Rate Platinum Card is also the perfect companion for any avid traveller, with a range of complimentary travel insurance that will give you peace of mind while you’re away. Spend just $500 on transport or accommodation costs while planning your trip on the card and you’ll be covered for lost luggage, overseas medical expenses and travel cancellation, making that $100 annual card fee feel like a drop in the ocean. The card also includes transport accident insurance, interstate flight inconvenience insurance, and domestic hotel burglary insurance.
In addition to travel insurance options, the card includes price protection insurance. This allows you to snag the best deals whenever you shop as NAB will reimburse you the difference between the price you paid and any lower advertised price for the same item. The extended warranty insurance gives you an extension of up to 12 months on top of the original Australian manufacturer's warranty for new domestic appliances.
Who it's good for:
Globetrotters and shoppers alike who want to take advantage of interest-free spending and comprehensive insurance benefits without a high price tag.
The card has a $6000 minimum credit limit, so be sure you are comfortable with having access to this amount of credit, remember that you’ll have to pay back those purchases eventually.