NAB Low Fee MasterCard

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Medium low fee mastercard

Good For

Balance Transfer Offers Max Credit Limit lowest Monthly Repayments

  • Type: MasterCard
  • Level: Standard

All Offers

Balance Transfers Offers 0% for 9 months then 19.74%
Introductory Offers 0% for 9 months then 19.74%
Special Offers N/A

Rates & Fees

Ongoing Purchase Interest Rate 19.74%
Annual Fee $30
Maximum free days Up to 44
Late Payment Fee $5
Over Limit Fee $0

Overseas Spending

Currency Conversion Fee 3%
Overseas ATM Charges $1.75 or 1.75% (the higher of)
Estimated ATM Cost for AU$300 withdrawal $14.25


Travel Insurance N/A

Repayment Details

$ Minimum Repayment $0
% Minimum Repayment 2%

Application Requirements

Minimum Credit Limit $500
Maximum Credit Limit $999,999,999

Many people going through page after page of credit card options, carrying out comparisons long into the night, are after one thing above all: Low fee credit. We want to be able to borrow money and not have to pay out of our nose for it down the line.

NAB have a vast array of credit card offerings but if you’re after low fees, in particular, the aptly named NAB Low Fee MasterCard, which offers a number of other benefits on top of this, might be worth a look in.

Chief benefits of the NAB Low Fee MasterCard

Being a low fee MasterCard, it's not surprising that its key selling point is the low annual fee — of $30, compared to the hundreds of dollars these fees can sometimes cost.

Other perks of holding a NAB Low Fee MasterCard include:

  • Automatic purchase protection insurance
  • The ability to add additional cardholders for no charge
  • The option of lost card cover
  • Emergency travel assistance, 24 hours a day, seven days a week
  • Exclusive deals through MasterCard Privileges, including on accommodation, music events and experiences

Note that, in order to get the complimentary insurance, you'll need to make a qualifying purchase with your NAB Low Fee MasterCard. In addition to this, as always, terms, conditions and exclusions all apply, so resist the temptation to charge full steam ahead without first reading the relevant documents.

NAB Low Fee MasterCard rates and fees

Buyers need not solely focus on the card's low annual fee. In terms of its rates and fees, the NAB Low Fee MasterCard holds its own with other NAB credit cards:

  • Its 19.74 percent purchase rate is marginally lower than other NAB credit cards
  • Its 21.74 percent cash advance rate is identical to that of its counterparts
  • Same goes for its 4.99 percent balance transfer rate for up to six months
  • Finally, its late payment fee of $5 also matches that of other NAB credit cards

All of this may make the NAB Low Fee MasterCard tempting for cardholders on a budget. What also works in the card's favour is its low minimum credit limit of only $500, much lower than the thousands of dollars that is sometimes expected for other credit cards.

Applying for the NAB Low Fee MasterCard

For those interested in signing up, there is a secure online application process available. It takes 10 minutes to fill out, and applicants will receive a response to their email within a minute of completion. The email will come with a reference number for your application, which you can use to track the progress of your application.

If you're approved for the NAB Low Fee MasterCard, you should receive your card within 5-7 working days. You can also verify your ID online, and skip the tiresome ritual of waiting in line at the bank for what can seem like hours.

To qualify for the card, you'll need two things above all else:

  • To be at least 18 years old
  • Have a good credit rating

You'll also need to supply NAB with certain information:

  • Your earnings and how much you spend
  • Your employer's details
  • Your driver's licence number
  • Details of your debts and assets
  • For self-employed applicants, your accountant's name and contact number

Remember that a credit card can be a big financial commitment. Make sure to shop around and consider all the options within your reach before settling on a product.

More about NAB

Search and compare NAB credit cards at RateCity.com.au. nab credit cards and offer a compelling combination of features and rewards programs centred on you and the worldwide acceptance of Visa, MasterCard and American Express. Take advantage of their low annual fees, low rates, great designs and balance transfer options or be rewarded with Velocity Rewards points every time you spend with a nab Velocity Standard Card or Velocity Gold Card.

Compare other credit card rates and features at RateCity.com.au