NAB Low Rate Card: Low Fees, High Value?
The NAB Low Rate Card offers a tempting balance transfer rate and cashback, but is it worth the annual fee hike? Let's dig deeper.
The Quick Version
The NAB Low Rate Card delivers a fixed 13.49% APR and a choice between a 4.99% balance transfer for 24 months or a AU$400 cashback offer. A low annual fee of AU$59 will increase to AU$99 in April 2026. Great for balance transfers, but the fee hike could be a dealbreaker.
NAB Low Rate Card
Includes balance transfer and cashback offers.
NAB Low Rate Card
What's Inside
This card is a straightforward option with a fixed 13.49% APR and a minimum credit limit of AU$1,000. You can choose between two offers: a 4.99% p.a. balance transfer for 24 months or a AU$400 cashback if you meet the qualifying spend. It's a Visa card, so it’s widely accepted, and it offers up to 55 interest-free days on purchases if you pay your balance in full.
What's Actually Good
The balance transfer offer is a standout, especially for those juggling high-interest debts. Locking in a 4.99% rate for two years is hard to beat. The AU$400 cashback is also appealing if you can meet the spending requirements — it effectively reduces your annual fee for the first year. Plus, those 55 interest-free days can be a lifesaver for avoiding interest on new purchases.
The Catch
Here's the kicker: from April 2026, the annual fee jumps from AU$59 to AU$99. That's a hefty 68% increase. If you're not maximizing those offers, the fee might not justify the benefits. Also, the cashback offer requires a qualifying spend, which could negate the savings if you're not a big spender.
Who It's For
If you're carrying a high-interest balance, this card is your ally — the balance transfer offer makes it a strong contender. It's also appealing for those who can hit the cashback spending threshold. However, if you don't plan to transfer a balance or spend enough to get the cashback, that looming fee increase might make it less attractive.
The Bottom Line
The NAB Low Rate Card is a savvy pick for balance transfers and cashback seekers — but watch out for that fee hike. Want to explore more? Check out the Southwest Rapid Rewards® Plus: Fly High or Fly By? for a different kind of reward value.
