Balance transfer credit cards | Our latest offers - NAB

What is a credit card balance transfer?

A NAB balance transfer (BT) is when you move the balances of one or more non-NAB credit cards to your NAB credit card, giving you a promotional rate on the amount you transfer.

A balance transfer can help you consolidate your debts to a single card or move your debts to a card with a lower interest rate during the promotion period.

Balance transfer benefits

Save on interest

Reduce credit card interest during the promotion period, and enjoy interest free days on purchases when you pay the ‘interest free days payment’ by the due date each month.

Fewer fees

Reduce the amount of credit card fees by consolidating your debt into one credit card.

Simplify your banking

Enjoy easier account management with just one account and monthly statement.

Offer
New NAB Low Rate Card accounts

4.99% p.a. BT for 24 months with no BT fee on new NAB Low Rate Cards

  •  Enjoy 4.99% p.a. on balance transfers for 24 months with no BT fee on a new NAB Low Rate Card. Unpaid balance transfer reverts to variable cash advance rate.

  • $0 annual card fee for the first year, reverting to $59 p.a. from the second year.

    We can’t process balance transfers from certain issuers – see our indicative list.

    If you’re already a NAB customer you could be eligible for additional credit card offers such as reduced annual card fees, bonus rewards points and more by applying through the NAB app or NAB Internet Banking.

    Minimum monthly repayments required. NAB may vary or end this offer at any time. Eligibility criteria and terms and conditions apply.
Learn more about the NAB Low Rate Card.

Offer
New and existing NAB credit card accounts

0% p.a. BT for 12 months with 3% BT fee

This is our standard balance transfer offer for both new and existing NAB credit card accounts that don’t currently have another balance transfer offer running and allow balance transfers.

An existing NAB credit card account can receive transfers up to 100% of the available credit limit (less any applicable annual or monthly card fee or balance transfer fee).

  • 0% p.a. on balance transfers for 12 months.
    Unpaid balance transfer reverts to variable cash advance rate after that time.

  • 3% balance transfer fee.
    This one-off fee is a percentage of the amount you transfer. It’s charged to your new NAB credit card account when your balance transfer is processed.

    We can’t process balance transfers from certain issuers – see our indicative list.

Rates and fees

You'll also get charged any applicable annual or monthly card fee, unless waived under an agreement or promotional offer. Standard interest rates apply for purchases and cash advances. Other fees and charges may apply to your card. See our fees and charges guide.

Minimum monthly repayments required. NAB may vary or end this offer at any time. Eligibility criteria and terms and conditions apply.

How to apply for a balance transfer

Here’s how to request a balance transfer on your new or existing NAB credit card.

  • Don’t have a personal NAB credit card yet? You can do a balance transfer when you apply for a new personal NAB credit card.

    Within the first 30 days of opening a new NAB credit card, you can transfer up to 90% of the approved credit limit (less any applicable annual card fee or balance transfer fee).

    It takes 5 to 10 business days from when your new credit card account is opened to when the balance transfer is completed.

    Help me choose a card

  • If you already have a NAB credit card, apply in the NAB app.

    1. Log into the NAB app.
    2. Tap Cards.
    3. Select your card.
    4. Select Usage controls.
    5. Select Request a balance transfer.

    Your balance transfer request will be processed within 10 days of your request.

How balance transfers work

Monthly repayments

Even if you have a BT offer of 0% p.a., you must make your minimum monthly payment by the due date each month for your promotional rate to continue. Credit card repayments go towards paying off the highest interest first. That means cash advances first, then new purchases and then your balance transfer.

Interest free days

While you have an outstanding balance transfer, interest free days on purchases only apply if you pay the 'interest free days' payment in full by the due date each month. This applies to both new and existing cards. Learn more about how balance transfers and interest free days work.

Promotion periods

Sometimes we have special offers, with different promotion periods and transfer fees. The special offer and its promotional rate usually lasts for a set period. It’s best to pay off the transferred amount within your promotion period, as the card’s variable cash advance interest rate will apply to any unpaid amount after the promotion period ends. Once your balance transfer is paid in full, your card will revert to the variable purchase rate.

Example of balance transfer savings

Here’s an idea of what you could save with our standard offer in the first 12 months.

 Other card interest paid at 19.99% p.a.Your savings  including 3% BT fee
Amount of $5,000$979.54$829.54
Amount of $8,000$1,567.27$1,327.27

Things to consider

A balance transfer may suit you if:

  •  your credit card has a credit limit high enough to cover your existing balance
  • the promotion period is long enough for you to pay off the balance before the rate increases.

  • If your available credit doesn’t cover the full amount requested, you’ll need to pay off the remaining amount using your own funds.

You can transfer balances from up to five non‑NAB credit or store cards. Balance transfers can’t be made between NAB cards or from business cards.

To process your balance transfer, we use your non-NAB card number to make a BPAY® payment. If your BPAY reference number for your non-NAB card isn’t your credit card number, we won’t be able to complete the balance transfer.

Before you apply

If you have other debts (like a personal loan) or you think it will take more than the promotion period to pay off your debt, then a debt consolidation loan might be a better option. Explore our personal loans for debt consolidation.

If you’re experiencing financial difficulty making your NAB credit card or personal loan payments, see our support options.

  1. Make sure you understand what you’re applying for. Once the special promotional period ends, any unpaid balance transfer amount will attract interest at your new card’s variable cash advance rate.

  2. Know what the variable cash advance rate is and how long it will take to pay off your debt.

  3. Factor in any one-off balance transfer fees.

  4. You must make minimum monthly repayments on time, even during the promotional period.

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