Credit card repayments and interest

How credit card interest is calculated

There's a complete explanation of how we calculate credit card interest in your account's terms and conditions.

You've told us you want fairer banking, so from January 14 2011 we've made some changes to our credit card fees.

Avoiding or reducing interest charges

You can avoid or reduce interest charges by:

  • always paying off the full closing balance of your statement by the due date
  • not making cash advances (or equivalent transactions), as these may attract a higher interest rate.

How to make credit card repayments

You can transfer money from your NAB accounts to your credit card through:

Other ways to make payments to your credit card are:

  • use the direct debit request form (PDF, 247KB) to set up a direct debit from an account of your choice
  • using BPAY® - the biller code to use is 1008 and your customer reference number is your complete credit card number
  • at any NAB branch
  • by post, using the reply paid envelope we send your credit card statement
  • at any Australia Post outlet displaying the Bank@PostTM sign. (You'll need your credit card and PIN.)

Avoiding late payment fees

To avoid the late payment fee you need to pay at least the minimum amount shown on your statement by the due date.

To help you remember this due date, we offer free SMS and email credit card payment reminders through NAB Internet Banking.

You can see your minimum monthly payment on your credit card statement.

If you’re having trouble making repayments, call us straightaway on 1800 701 599, from 8am-8pm Mon-Fri, or 9am-1pm on Saturdays (AEST/AEDT). You might also want to read more about NAB Care.