Nab Low Rate Visa Credit Card - Click4Credit OverviewThe NAB Low Rate Visa card from the National Bank of Australia is one of the top contenders for the credit card with the lowest interest rates. This low interest credit card is a no frills card with a modest annual fee inclusive of Visa features. General Information This NAB credit card is a simple credit card which works in a straight-forward way without any hidden costs. This low interest card restricts the low interest rate only to purchases and charges an interest rate of 19.99% on cash advances. It also charges a fee of A$30 for late payment.
The advantage of the low interest card is its simplicity as this makes it easy to manage and easier on the pocket. With no rewards program to support its popularity, this NAB credit card draws its customers with its low interest rate and good service. For whom is the NAB Low Rate Visa card useful? Low interest credit cards are generally for people who carry over their monthly payments and postpone it to be paid later. If high interest rates are levied for the balances of these people, it tends to over-run to a higher amount which may be hard to repay. For this reason, this NAB credit card comes with a low interest rate. This low interest credit card is obtainable only by resident Australians over the age of 18yrs. Key Benefits of the NAB Low Rate Visa card This NAB credit cards main asset is its low interest rate of 12.40%p.a. on purchases. Coming at a reasonable annual fee of A$49 for a low interest credit card, this card offers a complimentary card along with the NAB credit card. The minimum credit limit of A$500 is a modest limit which is adequate for an average Australian's daily expenses. Easy maintenance of the card is achieved with monthly statements and expenditures and balance amounts can be checked for any faulty calculations. In addition to being a low interest credit card, this also offers a period of 55 days within which the customer is able to repay the balance without any interest being added to it. The NAB card holder also enjoys all the privileges of the Visa card, some of them being zero liability for secure transactions, acceptance at over 22 million ATMs worldwide, emergency assistance, etc., Some other benefits that come with this low interest credit card are; - Emergency card replacement
- One complimentary NAB credit card
- Low interest rates and balance transfer rates
- NAB cellar selection options
- Phone and Internet banking for 24/7 access
- Visa Global Customer care assistance
- Visa Entertainment
- Secure online shopping protection
Important Information
Approval is subject to NABs credit assessment criteria. Terms and conditions available on application. Fees and charges apply. NAB offers a range of credit cards which may not be described here. For more information, please visit nab.com.au/creditcards.
1. Annual card fees are subject to change. Correct as at 22 September 2008. View full details of fees and charges at nab.com.au
2. Purchases - Exclude cash advances (including bills paid over the counter at a bank, financial institution or post office and for the purchase of travellers cheques). Interest free days on purchases if you pay your account in full by the due date each month
3. Cash back is calculated as 1% of net purchases made during a statement period and is credited directly to your NAB Visa Mini account. Purchases included in the cash back calculations are described in the terms and conditions which are available on application or at nab.com.au
4. National Australia Bank Limited has obtained NAB Gold Overseas Travel Insurance, Purchase Protection Insurance and Extended Warranty Insurance under Master Policies issued by American Home Assurance Company ABN 67 007 483 267, AFSL 230903, trading as AIG Australia. The benefits are extended to NAB Gold Card cardholders. The terms, conditions and exclusions of NAB Gold Overseas Travel Insurance, Purchase Protection Insurance and Extended Warranty Insurance are specified in the NAB Gold Insurance Policy Document [PDF 234kb] (opens in a new window) and may be amended from time to time.
5. Minimum spend thresholds and standard FlyBuys terms and conditions apply. The FlyBuys program is operated by Loyalty Pacific Pty Ltd ABN 82 057 931 334.
6. You must provide NAB with your valid Velocity Membership Number to enable points to be credited to your Velocity Rewards Account. If you are not a Velocity Member, you can join by visiting velocityrewards.com.au. Velocity Membership and Points earn and redemption are subject to Velocity Terms and Conditions, as amended from time to time, and available at velocityrewards.com.au. The Velocity Program is operated by Velocity Rewards Pty Ltd ACN 116 089 448 as trustee of The Loyalty Trust.
7. Excludes cash advances (including bills paid over the counter at a bank, financial institution or post office and purchases of travellers cheques) or when a Velocity NAB Credit Card is used as a debit card to access linked accounts or transactions we decide are wholly or partly for a business purpose. Also excludes fees and charges (including government fees and charges), interest charges, transactions which are disputed, fraudulent or involve abuse of your Velocity NAB Credit Card account, payments, and purchases which are refunded or reimbursed.
8. Velocity Points do not expire as long as your Velocity Rewards Account remains active.
A credit card offers you great flexibility and convenience. But it is important to remember, like any debt, you will have to repay it. If you are unsure as to whether you will be able to manage repayments for a new credit card, then you should not consider taking up a NAB Credit Card at this time.
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