NAB Low Rate Credit Card: Affordable Spending with Lower Interest in 2025
- Admin
- Jun 10
- 5 min read
Updated: Jun 11
Looking for a no-fuss, budget-friendly credit card? The NAB Low Rate Credit Card is one of the top options for Aussies who want to save on interest and manage their finances smartly. Whether you're paying off existing purchases or using your card for day-to-day spending, the nab low rate credit card is designed to minimise interest charges while offering essential features.
In this detailed guide, we break down everything you need to know about the nab low rate credit card, from features and benefits to fees, eligibility criteria .
What is the NAB Low Rate Credit Card?
The NAB Low Rate Credit Card is designed for Australians who want a straightforward credit card with a low ongoing purchase interest rate and minimal annual fees. Unlike premium cards loaded with features and rewards, the nab low rate card focuses on affordability and practicality—making it a great choice for anyone looking to cut down on interest or manage everyday purchases more efficiently.
This card is part of NAB’s commitment to offering low-cost banking solutions, and it appeals to students, first-time credit card users, or individuals looking to consolidate debt via balance transfer offers. While it may not come with rewards or travel perks, the nab low fee credit card offers value where it counts—low cost and simplicity.
Want to compare more credit card options? Visit Utility Choice AU and find the best low rate and low fee cards for your lifestyle.
Quick Overview: NAB Low Rate Credit Card Details
Feature | Details |
Card Name | NAB Low Rate Credit Card |
Annual Fee | $59 |
Purchase Interest Rate | 12.49% p.a. |
Cash Advance Rate | 21.74% p.a. |
Interest-Free Days | Up to 55 |
Minimum Credit Limit | $1,000 |
Balance Transfer Offers | Often 0% p.a. for 12–18 months |
Rewards Program | None (focuses on savings, not perks) |
Card Type | Visa |
Additional Cardholder Fee | $0 |
Pros and Cons of the NAB Low Rate Credit Card
Pros | Cons |
Low interest rate on purchases | No rewards program or cashback |
Affordable annual fee | Balance transfer offer may vary |
Up to 55 interest-free days | 3% foreign transaction fee |
Simple, straightforward product | Limited premium features |
Good for balance consolidation | Purchase rate still applies after offer period ends |
Does the NAB Low Rate Credit Card Offer Rewards?
Unlike other nab low fee credit cards or premium cards, the nab low rate credit card does not include a rewards program. The absence of points or cashback is intentional—it allows NAB to focus on offering a lower interest rate and lower annual fee, which is ideal for cardholders more concerned about affordability than perks.
If you prefer to earn points for your spending, NAB offers other options like the NAB Rewards Platinum Card. But if savings are your priority, the nab low rate card is a better fit.
Features and Benefits of the NAB Low Rate Credit Card
While it may not offer bells and whistles like travel insurance or lounge access, the nab low rate credit card provides several practical benefits:
1. Low Purchase Interest Rate
At just 12.49% p.a., this rate is much lower than the average credit card in Australia, making it a strong option for carrying a balance.
2. Affordable Annual Fee
The $59 annual fee makes the nab low fee credit card accessible for students, low-income earners, or anyone on a budget.
3. Balance Transfer Offers
NAB frequently provides balance transfer offers at 0% p.a. for up to 18 months—perfect for consolidating debt.
4. Up to 55 Interest-Free Days
Avoid interest entirely by paying your balance in full each month and taking advantage of the interest-free period.
5. Visa Benefits
Enjoy global acceptance, contactless payments, and fraud protection via Visa's global security network.
Fees and Charges of the NAB Low Rate Credit Card
Here’s a transparent view of the typical fees:
Fee Type | Amount |
Annual Fee | $59 |
Purchase Interest Rate | 12.49% p.a. |
Cash Advance Rate | 21.74% p.a. |
Late Payment Fee | $15 |
Foreign Transaction Fee | 3% of the transaction amount |
Balance Transfer Rate | Often 0% p.a. for 12–18 months (subject to change) |
Additional Cardholder Fee | $0 |
Eligibility Criteria for NAB Low Rate Credit Card
To apply for the nab low rate credit card, you must:
Be at least 18 years of age
Be a permanent Australian resident or hold an eligible visa
Have a good credit history
Be employed or have a stable source of income
Required Documents
Here’s what you’ll need to prepare when applying:
Proof of Identity: Passport, driver’s licence, or Medicare card
Proof of Income: Recent payslips, employment contract, or bank statements
Financial Information: Details of existing debts, other credit cards, and expenses
Residential Details: Current address, length of stay, and previous address if applicable
Employment Details: Employer’s name, contact, and your job title
Additional Things to Know Before You Apply
No Rewards: If you're looking to earn rewards points or cashback, this card isn’t designed for that.
Good for Credit Building: Its low interest and fee structure can help build or repair your credit if used responsibly.
Check for Offers: NAB often updates balance transfer and annual fee deals. Always confirm the current offer before applying.
No Extra Fees for Additional Cardholders: Add a partner or family member without incurring extra charges.
Conclusion: Is the NAB Low Rate Credit Card Right for You?
If you’re focused on saving money rather than collecting points or luxury perks, the nab low rate credit card is a smart choice. Its combination of a competitive interest rate, modest annual fee, and simplicity make it an ideal everyday card for Australians who value affordability.
Whether you're consolidating debt or just want a practical credit solution, this nab low fee credit card delivers value without hidden charges. And if you want to explore other options, comparing with similar cards is always a good move.
Compare top credit card offers, low-rate deals, and no-fee options with Utility Choice AU. Make an informed choice before you apply!
Frequently Asked Questions ( FAQS )
1. What is the purchase interest rate for the NAB Low Rate Credit Card?
The rate is 12.49% p.a., which is lower than many other cards.
2. Is there a rewards program with this card?
No, the nab low rate credit card does not offer rewards points or cashback.
3. How much is the annual fee?
$59 per year, which makes it one of the more affordable cards on the market.
4. Can I use the card internationally?
Yes, it’s a Visa card accepted worldwide, but a 3% foreign transaction fee applies.
5. Does NAB offer balance transfer deals on this card?
Yes, NAB frequently offers 0% p.a. balance transfer periods. Check their site for the latest.
6. Can I get additional cards for my family?
Yes, and the first additional cardholder comes at no extra cost.
7. Is the NAB Low Rate Card good for students?
It can be, provided the student meets the income and credit criteria.
8. How do I avoid paying interest on purchases?
Pay your balance in full each month to benefit from up to 55 interest-free days.
9. How can I apply for the NAB Low Rate Credit Card?
You can apply online via NAB’s website or by visiting a NAB branch.
10. Can I compare this card to others before applying?
Absolutely! Head over to Utility Choice AU to compare low rate and low fee credit cards easily.
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