Our lowest interest rate on purchases with no frills.
Find out more about rates and fees.
Enjoy 0% p.a. on balance transfers for 20 months with 2% balance transfer fee on a new NAB Low Rate Card.
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Minimum monthly repayments required. NAB may vary or end this offer at any time. See important information below.
The official term is ‘revolving line of credit’. In normal speak it’s a card with a set amount of funds (called a 'limit’) you can borrow at any time. That’s the important word: borrowed. Like other loans, credit cards also come with an interest rate.
They have a regular repayment cycle, so the amount of interest you’ll pay will differ each month. It’s determined by how much you spend, how much you repay, and when you repay it.
Our Low Rate Card has “up to 55 days” interest free. But, be wary. It doesn’t mean you get 55 days interest-free from the moment you buy something. The "55 days" refers to from the start of your statement cycle to your statement’s due date. This is what we mean by "up to". So you could get between a week interest-free or a maximum of 55 days. Remember if you don't pay your statement balance, or if you have an outstanding balance transfer the interest free days payment, in full each month, you don’t get your interest-free period.
Interest is calculated daily. The daily interest is based on that day’s closing balance. That’s the total of everything you haven’t paid back (including fees, purchases, cash advances and balance transfers), plus any interest charges.
For example if the interest rate is 18% per annum, and you have $100 outstanding on your balance, you will be charged 18% per annum of $100, or approximately $1.50 per month.
Enjoy our lowest interest rate on purchases, with the added benefits of complimentary insurances
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