NAB Low Fee Credit Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

The NAB Low Fee Credit Card

Keeping it nice and simple, the NAB Low Fee Credit Card is a great credit card to keep in your wallet because it doesn’t cost much to keep it there. With a low annual fee, this card doesn’t offer an abundance of features but it does provide the basics. Plus, it currently offers up to $200 credit back and 0% p.a. on balance transfers for 12 months.

What we love...

Aside from enjoying this card's low annual fee, new cardholders can also get up to $200 credit back when you spend $1,500 on purchases within 90 days from account opening. To be eligible for the offer, you must apply for a new personal NAB Low Fee and simply meet the minimum spend requirement. The cash back will then be awarded monthly on the closing date of your statement.

If you’re searching for balance transfer offers, this card may be the one for you. As a new cardholder, you get 0% p.a. on balance transfers for 12 months as long as you're approved and apply for the balance transfer during the credit card application. BT reverts to variable cash advance rate.

The balance transfer offer gives you the opportunity to save some serious money on interest which could help you pay down existing credit card debt much faster. And while you’re doing that, you know that the NAB Low Fee Credit Card won’t break the bank in annual fees. In fact, this card has NAB’s lowest annual fee and even allows for one free additional cardholder.

⚠ NAB allows transfers from most non-NAB cards, but also lists several brands that aren’t compatible with its transfer process. These include Bendigo Bank, ING, Latitude Finance, Great Southern Bank, Heritage Bank, Adelaide Bank, credit unions and Amex.

If you want to save on everyday spending, you can take advantage of up to 44 days interest free on purchases. Whether buying big or small, this can help to save some cash as long as you understand how interest free days works.

What’s not so great...

Even simple money-savers have small print. If you choose to take advantage of the card’s balance transfer offer, you will pay a 3% balance transfer fee. This one-off fee is calculated as a percentage of the total balance transferred and will be added to your NAB credit card account when the balance transfer is processed.

Another important point to mention is the fact that any transferred balance left unpaid at the end of the introductory period will revert to the variable cash advance rate. As the NAB Low Fee Credit Card has a relatively high variable purchase rate and cash advance rate, it’s best to avoid interest charges altogether by clearing the transferred balance within 12 months and paying the monthly balance in full each statement period before interest starts accruing.

Why should you choose this card?

If you want a simple, low fee credit card, the NAB Low Fee Credit Card could be for you. On top of its low annual fee and enticing balance transfer offer, this card provides many of the basic features you would expect from a low fee credit card.

You can benefit from complimentary Purchase Protection Insurance, providing you cover on new personal items bought on your NAB Low Fee Card that are lost, stolen or accidentally damaged within 90 days of the date of purchase. You can also enjoy special offers from Visa Entertainment, giving you access to shows, events, experiences, movies and more.

Of course, the NAB Low Fee Credit Card provides all standard credit card features as well, such as fraud protection, online security through Verified by Visa, contactless payments and 24/7 emergency assistance. And with a low minimum credit limit of $1000, this card becomes a little more accessible for smaller spenders.

Overall Rating

A simple low fee credit card offering a range of handy features, the NAB Low Fee Credit Card makes a splash with its current offers - up to $200 credit back and 0% p.a. on balance transfers for 12 months.