NAB Low Rate Card 0% on Purchases for 15 Months

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LshortarmsLongpockets on 08/01/2015 - 08:38 nab.com.au (338 clicks)
Last edited 19/01/2015 - 19:50 by 1 other user

Didn't get that 60 incher for christmas that you dropped many the hint about? Never fear! The NAB is here to help with 15 months interest free on purchases with their low rate credit card!

Annual fee is $59 and the interest after the 15 months is 13.99% but don't worry, I'm sure by then there will be a decent balance transfer offer to alleviate the pressure if you went a bit post christmas crazy.

I have the low rate card and enquired in the bank about taking up this offer but that wasn't allowed, so I would say it is new customers to this card only.

Good to use for large purchases at businesses that don't offer interest free finance and you don't want to get caught out at the end with GE money and the like.

Go get that TV!

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National Australia Bank Group (NAB)

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  [Deactivated] on 08/01/2015 - 08:54

  +1

  It's NAB, so there's bound to be some catches in the fine print

  In the large print
  1.You will not receive interest free days on purchases while you have an outstanding balance transfer.

  1. Excludes cash advances (including bills paid over the counter at a bank, transactions for gambling or gaming purposes, financial institution or post office and for the purchase of travellers cheques).

  Most amusingly
  3. If you pay your account in full by the due date each month.

  1. ….Offer is not available when closing/transferring from another NAB credit card account

  So you're excluded if
  - you xfer from one NAB card to this
  - if you have a balance xfer.
  - Your bills at the bank with it(???)

  But if you start refresh & spend big, it looks like it's not too bad…until you get the bill in 18mths

• 

  PLANT on 08/01/2015 - 09:28

  +2

  Any credit card not free ain't no ozbargain :(

  • 

    Utopian on 10/01/2015 - 19:54

    Short-sighted.

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  Peck on 08/01/2015 - 11:14

  Interesting offer to compare to all of the other deals coming out. Not enough extra goodies for me, like travel insurance.

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  downforce on 08/01/2015 - 11:16

  Couple other things:
  * Can only get the 0% on balances tranferred at the time of application.

  Also, it's probably not the best deal:
  Westpac and ANZ have 16mths for $60/yr
  Coles Mastercard has 18mths for $0/yr.

  Check out this site for a list I used when I recently did it: http://www.creditcardfinder.com.au/best-balance-transfer-rat…

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  noone on 08/01/2015 - 11:30

  +1

  I've never done a balance transfer before. Does it require you to cancel your old credit card in order to transfer the balance to the new card?

  • 

    downforce on 08/01/2015 - 12:41

    +3

    When you apply for the new credit card, you enter the credit card number and the balance you wish to transfer. Once it's completed, you'll see a 'payment' on your old credit card for the amount you transferred.

    A thing to note, it can take a little while. I've had it take almost 2 months once with St Georges (granted it was a few yrs ago now) but my recent Westpac one took about a week after the card was activated. Bear that in mind if you need to make payments by the due date.

    • 

      noone on 08/01/2015 - 13:23

      Thanks for the explanation.

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  XeKToReX on 08/01/2015 - 11:44

  +5

  Can't expect to ask for a 60 incher when you're only giving a 6 incher..

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  parcus on 08/01/2015 - 11:51

  I keep getting bombarded with letters from these guys for the same card but with $0 annual fee and only 12 month interest free on purchases.

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  spuderump on 08/01/2015 - 11:56

  @xektorex good thing im black!

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  CyberMurning on 19/01/2015 - 20:40

  Why expired?