NAB (National Australia Bank) offers a range of credit cards with varying benefits, from rewards and travel perks to low-interest rates and balance transfers. However, before applying for a NAB credit card, you’ll need to meet certain eligibility criteria. In this blog, we’ll discuss all NAB credit cards. So let’s get to it!
History of NAB
NAB (National Australia Bank), also known as “The Big Four,” is among the top four financial institutions in Australia in terms of customers, earnings, and market capitalization. The bank has been ranked 21st globally based on market capitalization and 52nd globally based on total assets, as of 2019. NAB serves over 9 million customers, operating through 3,500 Bank@Post locations and over 7,000 ATMs across Asia, New Zealand, and Australia.
Types of Cards Offered by NAB
NAB Low Maintenance Credit Cards
NAB Low Rate Credit Card – Balance Transfer Offer
- For 32 months, balance transfers are tax-free.
- Enjoy balance transfers for 32 months at 0% p.a.
- After the first year, the yearly charge increases to $59 from $0, and the balance transfer rate returns to 21.74% p.a. (no BT fee).
- Exclusively new members. Low (12.49%) variable purchasing rate
NAB Low Rate Credit Card – 0% Purchase Offer
- 20% off brand-new purchases.
- Plus a negligible $59 annual fee.
- Balance transfers cost nothing for 12 months (a 3% fee applies).
- Exclusive offers and a free second cardholder are available with Visa Offers + Perks.
- Just new NAB Low Rate customers. Low 12.49% variable buying rate.
NAB StraightUp Card
- Pay no interest or exchange-rate costs.
- Pay a straightforward monthly cost rather than interest or late payment penalties.
- Also, there are no foreign exchange costs for transactions made abroad or online with the card.
NAB Low Fee Platinum Credit Card
- Offer for 0% balance transfers.
- Balance transfer rates are 0% p.a. for 12 months; a 3% BT fee is charged.
- Back to the variable cash advance rate for BT.
- International travel insurance is free.
- Uncharged additional cardholder.
NAB Low Fee Credit Card
- Inexpensive annual fee plus credit back of up to $240.
- Spend $500 each month for the first three months to receive $80 back.
- Balance transfers are subject to a 12-month 0% p.a. rate and a 3% BT fee.
- Back to variable cash advance rate for BT.
- Affordable $30 annual fee and up to 44 days of interest-free purchases.
NAB Low Rate Business Credit Card
- 0% for 12 months on purchases.
- During the first 12 months, there is no interest on permissible business transactions, and there is no first-year annual card charge.
- Purchases are subject to a low ongoing interest rate of 13.25% p.a.
NAB Business Card
- Set a credit limit per cardholder for each employee.
- Receive purchases interest-free for up to 35 days.
NAB Reward Credit Cards
NAB Rewards Business Signature Card
- 100,000 NAB Bonus Reward Points.
- Within the first 60 days, you spend $4,000 on regular business expenses.
- Enjoy earning unlimited points. Just use new cards.
NAB Qantas Business Signature Credit Card
- Get a 100,000 Qantas Point bonus.
- Within the first 60 days, you spend $4,000 on regular business expenses.
- Earn points at the same rate as typical daily business expenditures on ATO payments.
- New cards only.
NAB Qantas Rewards Signature Credit Card
- Qantas Points bonus of up to 120,000.
- Earn 30,000 when your card is active for more than a year and 90,000 when you spend $3,000 in the first 60 days.
- Get a lower annual fee for the first year as well as 0% p.a. on balance transfers for a full year.
- Up to $5,000, earn 1 Qantas Point for every dollar spent.
NAB Rewards Signature Credit Card
- Bonus NAB rewards card Points of up to 140,000.
- Get 40,000 bonus Points when you keep your card open for more than a year* and 100,000 Bonus Points when you spend $3,000 on regular purchases within the first 60 days after opening it.
- Reduced yearly cost for the first year along with 0% p.a. on balance transfers for a full year.
- Get free insurance protection.
NAB Qantas Rewards Premium Credit Card
- Additional 70,000 Qantas Points and a discounted first-year yearly cost.
- Applying minimum spend. $150 off the annual price for the first year.
- Get 0.67 points for every dollar spent up to $3,000, followed by 1 point for every $3 spent, with a monthly ceiling of $6,000.
- Complimentary insurance coverage and free Qantas Flyer membership.
NAB Rewards Platinum Credit Card
- 80,000 extra NAB Rewards points.
- When you spend $1,000 on regular purchases within the first 60 days of opening your account, you’ll receive 60,000 bonus Points, and if you keep your card open for more than a year, you’ll receive 20,000 bonus Points, which are worth $390 in gift cards*.
- Six free insurances are offered.
Key Benefits of Having a NAB Credit Card
While each NAB credit card has unique characteristics, there are some significant advantages to having one, including:
1. Fraud protection
NAB Defence helps keep your account secure by detecting suspicious activity. NAB credit cards also come with a zero liability policy, which means you will be refunded if your card is used for fraud.
2. Annual fee waiver with NAB home loan package
By getting a NAB Choice Package home loan, you can have the annual fee waived on a credit card of your choice. Keep in mind that there may be other fees and costs associated with getting a mortgage, so it’s essential to learn more about NAB home loans and packages to determine if this is a suitable option for you.
3. Mobile payments
NAB credit cards can be used with various mobile payment services such as Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, and Garmin Pay.
4. Complimentary insurance
Some NAB rewards card and premium credit cards offer complimentary insurance options for travel and purchases. For specific information about available insurance, refer to the NAB complimentary credit card insurance booklet.
5. Internet and mobile banking
NAB’s internet banking and mobile app provide convenient ways to manage your account, make payments to other accounts in Australia and overseas, request credit limit increases, or apply for other NAB products. You can also temporarily block your NAB bank credit card.
Conclusion
In summary, NAB credit cards offer a variety of benefits to suit different lifestyles and financial needs. To apply for one, you’ll need to meet certain eligibility requirements, including being at least 18 years old and having Australian residency status.
The application process is relatively straightforward and takes around 15 minutes to complete online, with an initial response provided within 60 seconds.
By providing accurate and up-to-date personal, financial, and employment information, you can increase your chances of being approved for a NAB credit card that meets your needs.
FAQ
Q1. Can I choose my own credit limit when applying for a NAB credit card?
Yes, you can include a credit limit in your application, but NAB will assess your application and offer you a credit limit based on your financial situation.
Q2. Is it possible to transfer a balance to a NAB credit card?
Yes, you can transfer a balance to a NAB credit card, but you’ll need to provide details of the debt that you want to transfer, including the account name, number, and financial institution’s BSB.
Q3. Will NAB offer me the credit limit that I requested?
NAB will assess your application and offer you a credit limit based on its own assessment, which could be lower than the credit limit you requested.