- Cashback offer: $300 cashback when you spend $1500 on everyday purchases in the first 90 days.
- Balance transfer offer: 0% p.a. for 12 months on balance transfers (with a 3% balance transfer fee).
- Low annual fee: $59 annual fee.
- Low interest: Just 13.49% p.a. on purchases.
- Discounts and perks: Access special offers with retailers, dining and entertainment using Visa Offers + Perks.
- Extras: Get up to 55 interest-free days on purchases (if you pay your statement in full by the due date) and a free additional cardholder.
- Digital access: Syncs with Apple Pay, Google Pay, Fitbit Pay, Garmin Pay and Samsung Pay.
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NAB Credit Cards
NAB Low Rate Credit Card – Cashback Offer
Updated 28 January 2025
Unlock $300 cashback reward when you meet the spending criteria, and pay 0% p.a. on balance transfers for the first 12 months (a 3% fee applies).
You’ll get extra value out of this low-cost card with Visa Offers + Perks, a free additional cardholder, and a low annual fee. This card can be a good match if you’re looking for a smart way to manage debt or save on interest.
Terms and conditions and eligibility criteria apply.Purchase Rate (p.a)
13.49%
Balance Transfer (p.a)
0% for 12 months
3% balance transfer fee applies.
Reverts to 21.74% p.a.
Annual Fee (p.a)
$59
Pros and cons
- No rewards program
- No complimentary insurance covers
Creditcard.com.au review
Editor Review
NAB Low Rate Credit Card – Cashback Offer
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.
Overall rating
The NAB Low Rate Cashback offer card may not suit those looking for big travel rewards or premium features, but its focus on money-saving features is worth a clap.
For the low annual fee, you’ll get big money in cashback, an interest-free balance transfer period and discounts and offers with Visa entertainment.
What I love about the NAB Low Rate - Cashback Offer card
The cashback offer is truly a great benefit on this card. Considering the low annual fee, it’s a significant amount to earn back, and the criteria to earn it are reasonable for a low-cost card.
I’ll talk through the big benefits first, and then look at the rest of the card’s features.
Cashback offer: To earn the $300 cashback you must be a new personal NAB Low Rate cardholder and spend $1500 or more on eligible everyday purchases within 90 days.
NAB says everyday purchases exclude transactions that it decides are “wholly or partly for gambling or gaming purposes which are treated as a cash advance.”
0% p.a. balance transfer: You won’t pay interest on balances transferred from non-NAB credit cards for 12 months. You can apply for a balance transfer at any time after your card account has been opened. A 3% fee will be charged and added to the balance transferred.
What you need to know about the balance transfer offer:
What you need to look out for:
⚠ 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.
You'll need to make sure your BPAY reference number for your non-NAB card is the same as your non-NAB card number as NAB uses this number to process your balance transfer request. If these numbers are not the same, NAB won't be able to process your balance transfer. Please check the numbers match before applying for a new card with a balance transfer or requesting balance transfer on an existing card.
Other features and benefits
Low annual fee. The annual fee is very low at $59 per year, even compared to other cards that offer similar features for $80+ per year.
Low credit limit. This card has a $1000 minimum credit limit, which means you can opt for a low credit limit and keep a cap on your spending.
Visa Offers + Perks. You can sign up to Visa Offers + Perks to get personalised discounts on retail, dining and experiences. For instance, you can get 10% cashback on Booking.com.
You'll also get:
- 55 days interest-free on purchases
- One free additional cardholder over 16 years old
- 24/7 emergency travel assistance with Visa Customer Assistance Services
- NAB Defence fraud protection
- A wide range of digital wallets to choose from
- Functionality to disallow gambling transactions, cash advances and cash transfers via the NAB app
What’s not so great
As with most 0% balance transfer offers, any unpaid balance after the 0% period is charged at the variable cash advance rate. That’s 21.74% p.a. currently, so it literally pays to pay it off ASAP.
⚡ A note on that: the minimum payment on your statement won’t be enough to pay off your transfer in full within 24 months. You’ll need to work out the monthly amount and pay that each month either manually or by automatic transfer.
This card is mostly about low rates and a cashback offer. It doesn’t have flashy features or big rewards, which is why its annual fee is so low.
Who suits the NAB Low Rate - Cashback Offer card?
NAB says this card is good for people after low interest rates and cashback deals. It could also suit first-time cardholders who want a low-cost card, or those looking for simple benefits like purchase protection and Visa offers.
User reviews
Rates and fees
Interest rates
Purchase rate 13.49% p.a.
Cash advance rate 21.74% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 0% p.a. for 12 months
Balance transfer revert rate 21.74% p.a.
Balance transfer from personal loan No
Balance transfer fee 3% one off
Balance transfer limit 90% of approved credit limit
Brands you can't balance transfer from NAB
Credit limits
Minimum credit limit $1,000
Maximum credit limit $30,000
Fees & repayments
Annual fee $59 p.a.
Additional cardholder fee $0 p.a.
Foreign transaction fee 3.5%
Minimum repayment 2% or $25 whichever is greater
Cash advance fee 3% or $3 whichever is greater
Late payment fee $15
Additional features
Complimentary insurance
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Extras
Tap and pay your way. Enabled for Apple Pay, Google Pay, NAB Pay, Fitbit Pay, Garmin Pay and Samsung Pay
Overview
NAB Low Rate Credit Card – Cashback Offer
Key features
- $300 cashback when you spend $1500 in the first 90 days (new NAB Low Rate cardholders only)
- 0% p.a. on a balance transfer for 12 months (then reverts to cash advance rate)
- Low variable purchase rate of 13.49% p.a.
- Low $59 annual fee
- 24/7 emergency travel assistance with Visa’s Global Customer Assistance Services (GCAS).
- Fraud protection
- Up to 55 interest-free days on purchases when you pay your statement in full by the due date.
- Visa payWave
- Free additional cardholder.
- Syncs with Apple Pay, Google Pay, Fitbit Pay, Garmin Pay and Samsung Pay.
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
-
Australian or New Zealand citizen, Australian Permanent Resident or non-resident holding an acceptable Temporary Residency Visa
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
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27 January 2025Pauline
28 January 2025Pauline
28 January 2025