The Honesty Experiments

Balance transfers are commonly used to reduce the interest you pay by transferring your debt to a new card with a lower interest rate for a set period. But when that set period ends, unlike some banks, a NAB credit card goes to the lower everyday purchase rate instead of the higher cash advance rate.

For example, if you have a balance transfer on a Commonwealth Bank Low Rate Credit Card, after the balance transfer period ends, the interest rate you pay will go to the cash advance rate, currently 21.74%p.a.¹. With a NAB Low Rate Visa Card, this would go to the lower everyday purchase rate, currently 12.99%p.a.². So it saves you money.

We believe that it's the honest way to do credit cards.

1. Sourced from commbank.com.au. Rate current as at 10 January 2012 and subject to change.
2. Rate current as at 15 May 2012 and subject to change. Fees & charges apply. Terms and Conditions available from nab.com.au

There are many reasons why you might want to cap your own credit card limit. You could be travelling overseas or simply wanting an easy means to stick within a budget.

Whatever your reason, you can now use NAB Internet Banking to lower your credit limit to the amount you want, whenever you want. And if you want to bring the limit back up again, you can simply login and make a request.

Credit card limits that you control – we believe it's the honest way to do credit cards.

With a NAB credit card, your repayments pay off the amounts that attract the higher interest rates first (after interest, fees and charges)¹.

Let's say for example, you take advantage of the current special offer of 4.99%p.a.² on balance transfers for 6 months on a new NAB Low Rate Visa Card. You then use your card to withdraw $200 from an ATM, at the rate of 21.74%p.a.³

When you make a repayment on your NAB credit card, your money pays off the highest interest transactions first, in this case the cash withdrawal of $200 that is accruing the higher interest rate of 21.74%p.a.. This means you pay less.

We believe that it's the honest way to do credit cards.

1. Amounts that have appeared on your statement will be paid off before amounts that have not yet appeared on your statement.
2. Special balance transfer rate offer is subject to change
3. Rate current as at 15 May 2012 and subject to change.

Unlike other banks who can charge you up to $35 for late payments, NAB only charges a low $5. But we figure, you should be able to avoid late fees altogether. That's why you can now register for NAB alerts and we'll send you SMS and email reminders up to 7 days before your credit card payment is due. It's a free service that keeps you from getting charged more than you need to.

No one wants to go over their credit card limit, but sometimes it happens.

If it does, we won't charge a fee for it.

No overlimit fees - we believe it's the honest way to do credit cards.