• long running

NAB StraightUp Visa Credit Card - No Interest, Late Payment or Foreign Currency Fees (Monthly Fee Applies) @ NAB


NAB has just launched a new Credit Card - NAB StraightUp Card with the tag line being "No interest, late payment fees or foreign currency fees, just a simple monthly fee".

The NAB StraightUp Card has no interest charges. The annual interest rate is 0% (Zero percent). This means you’ll never be charged interest on your account as per their PDS.

No use, no pay: If you don't make any purchases and have an outstanding balance of $0 during the whole statement period, your monthly fee will be reversed.

No foreign currency fees: Save money with no fees on international purchases (online and overseas).

You can choose one of three preferred credit limits when you first apply. Each limit comes with a fixed monthly fee and minimum monthly payment:

  • $1000 Credit limit: $35 minimum monthly payment ($10 monthly fee included in your balance)
  • $2000 Credit limit: $75 minimum monthly payment ($15 monthly fee included in your balance)
  • $3000 Credit limit: $110 minimum monthly payment ($20 monthly fee included in your balance)

Check out the FAQs and PDS on the product page.

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)


  • Can someone compare with Afterpay or Zippay fees?

    • ZipPay - We only charge a $6 monthly account fee when you have an outstanding account balance. $5 ZipPay / $15 ZipMoney Late Fee if you've made no repayments within 21 days of the due date

      Afterpay - If a payment is not processed on or before the due date, late fees will apply – initial $10 late fee, and a further $7 if the payment remains unpaid 7 days after the due date.

      • @Koipanda thanks, heres some small players:

        Humm -
        $8 Monthly Fee if you choose 10 fortnightly instalments to pay for 'Little Things'
        $8 Monthly Fee & $35-90 Establishment Fee for 'Big Things'
        $6 Late Payment Fee

        Open Pay -
        Default Fee of up to $9.50
        Referral Fee of $19.50 if you have failed to pay a missed instalment 8 days after your due date

        Latitude Pay-
        If you miss a payment there’s a $10 fee

        LayBuy -
        $10 Default Fee
        Further $10 Default Fee if you fail to pay the missed instalment within 7 days of the due date

    • You ask something, then you’re answering it yourself, then you’re thanking yourself🤔. Is it you, him, or her?

  • If you pay off the balance before statement day so statement is $0 does that mean the fee is reversed?

      • I don't think that's true.

        T&Cs say

        We’ll reverse your monthly credit fee if you have an outstanding
        balance of zero during the entire statement period (after allowing for
        any reversed monthly credit fee) and don’t use your card, or make any
        purchases, during the statement period

        So that means if you don't use the card and carry a balance of $0 then they will reverse the fee.

        If you spend $100, and pay off $100 when you statement arrives, you would still get charged the fee.

        Overall doesn't really seem like a great product.

        Say you get a $3000 limit, that would carry a $20 * 12 month = $240 fee per annum.

        That effectively means you pay 8% ($240/$3000) in fees for the privilege of having access to $3,000 credit. And that percentage of fees would be higher if your card isn't maxed out 100% of the time!

        • Yea just re-read that, now it seems even more unappealing :L If they remove that fee then this card could rival the other BNPL.

    • No, if you make any purchase during that month, the fee applies regardless of whether your statement balance is $0 or not at the end of the statement month.

    • No, fee is reversed only if you don't make any purchases and have an outstanding balance of $0 during the whole statement period. It's not a normal credit card mate, has been launched to cater the afterpay fans with some differences.

      PDS says this - We’ll reverse your monthly credit fee if you have an outstanding balance of zero during the entire statement period (after allowing for any reversed monthly credit fee) and don’t use your card, or make any purchases, during the statement period.

    • NAB will make a killing on this exact point, for people who don’t normally use CC’s this is confusing. They had a real chance to be a game changer, instead it’s a CC with extra steps. No deal!

  • meh effort on going against bnpl

    not good enough

  • Why would anybody choose to pay monthly fee if there are cards with interest free periods and no annual fees.

    And if you have a balance you can't pay off, then balance transfer deals are still much cheaper than this.

    So hardly a bargain. Just a gimmick.

  • +8 votes

    It seems equal to pay 4% interest monthly.

  • A monthly fee of $10 for a $1000 credit line is steep - basically 12% per year if maxed out.

    • Absolutely, but hey, it's "no interest charged"!

      The amount of financially illiterate people is astounding.

      "Oh I don't like credit cards because I don't like owing money"
      But "Buy Now Pay Later" services are absolutely okay because it's not a "credit card"?

    • So it is far greater if it isn't maxed out. The fee could be greater than the balance haha.

  • Why is this in Deals?

  • +10 votes

    No Interest

    Yep. I've absolutely No Interest in this deal…

  • The only part that I find appealing about this sales pitch is the zero foreign transaction fees. Great for travellers as long as you pay it off but that's about it.

  • the concept of this card actually sounded good for a BNPL set up for a bank to get in on, but those fees, nope nope.

  • Im sure there are no fee (annual) cards, which gives you 55 days of interest free. Thats like 5 weeks of no payment required.

    Most bnpl require you to pay weekly for 4 or in latitude case 10 weeks.

  • This card is basically for people who can't control credit card debt. If you never pay off your card, this is the one for you. As it works out a lower rate overall for the year. Rather than paying 20%.

    • 3k max limit


    • If you can’t control debt, how can you control how much debt?

      Plus you pay the monthly fee based on the credit limit, not the balance. So if you have a 3k limit, but the balance is $1k you still pay $20 not $10.

      And if you don’t pay you minimum balance it affects your credit rating and they can cancel the card

  • The boomers are trying hard to compete with BNPL but just don't quite get it. Gold star for effort though.

  • is there a credit check done? if so not worth it and the $10 monthly fee kills it. zip is better free if you pay it off by the last day of the month you avoid the $6 FEE. its good to see bnpl credit cards come on the market . just wish splitit was offered by more stores in Au.

    • ZIP lets you use a virtual credit card for online purchases etc
      but obviously that doesn't work in store like this would.

  • Maybe I’m missing something but the real benefit of this BNPL option seems to be the fact that you can use it pretty much anywhere where a visa CC is accepted. Other BNLP seem to be dependent on the merchant supporting them. Also the fact that it can be used for international purchases with no fees makes it a somewhat viable option IMHO

    • agreed but bundll is better. this nab one at 12x 10 = $120 for a 1k limit is like the annual fee. how ever if there is no credit check entry on your file and you just need to be a nab customer with income history it might be an easier option for some to get approved.?

      • its a credit service with a min $1000 limit, 100% they will be doing a credit check regardless

  • +6 votes

    This is not a deal. Just advertisement. Just like the news did.

    There is no promo code and once you use it it will cost you a monthly fee.

    Great marketing PR for NAB

    • Whether it's a monthly fee or a yearly one, why is this different to other credit card deals that get posted here? I think it's fine and belongs here. Other fellow Ozbargainers will find it useful.

      R U Ok?

      • I’m fine thanks :)
        IMO this still isn’t a deal per se, it’s more like a product launch.
        Credit card deals include interest free periods, loyalty bonuses etc.
        this is just advertising really… would be better served in a forum topic.

      • Other cards that get posted here give away points and waive the annual fee first year so it doesn't cost you anything if you're chuning every 11 months or so. This is just trash finance for the illiterate.

  • $20 fee *12 months /$3,000 credit limit = 8% p.a.

    Sounds pretty good deal to me compared to regular credit cards.

    But not as competitive compared to BNPL platforms or those credit cards that offer 0% or special rates for installment plans.

    • Only if you keep it fully drawn.

      If you have a $3K limit and you only use on average $1.5k a year then it’s 16%.

      If you want to pay it down, the interest rate effectively rises until you do and close the account. You would have to pay it off in one go and close to get that 8%.

      And to get the benefits like with overseas purchases You need to be buying goods so the balance will fluctuate. And you have to make payments monthly to reduce the balance

      If you just want $3k get a personal loan.

      As usual, headline comparisons for Banking products don’t always stack up. The Banks are masters at getting more from you. They have number crunchers employed who have data that means they know how present a product in the best way to extract money from you.

  • This doesn't seem that great.

    Thinking a better option is to sign up for a cc with a long interest free period for 100 annual fee a year or less.

    Just pay the balance off in 11 months, and your all good.

  • What is you preload the card with money, never letting yourself go into money owed? Is the monthly fee still payable?

    • As in use your own money that you saved up to buy something? What an absurb idea. I don't think it would catch on.

    • I think the monthly fee is incurred if there is any outstanding balance on the card. I would assume that if you used it as a debit card you would not be incurring any fees… But why would you do that when you can just use a debit card?

      • It’s worse, you only get a fee reversal if you make no purchases and have no balance due, so why have the card

  • Not really a deal, as there is no bargain like apply today to get fees waived for a month. This is a PSA.

    In fact, this product punishes people who are savvy with their money, and not max out the cards limit.

    Others include myself look at hey, $3000 limit, $20 fee a month so about 8%pa interest initially, and if I keep it maxed out. However, if you start paying down, the relative interest rate jumps. After a year of min payment, the balance is $1680. You're now looking at 14%pa interest rate. After two yes when the balance is $360, you're paying 66%pa rate.

    And if you just use $100 this month and pay it off you're paying 240%pa interest!

    This product I think is a life line for people with ongoing debt, or need more that 4 fortnightly repayment to sort out the debt. Not a bargain tool as it stands.

  • Not a deal, another dodgy way to make money. If you are organised then you don't pay any fee and interest on most of cards or at least interest. In this card you MUST PAY 8%(using 3k example)

  • This is not a bargain. Not even a deal. This is a PSA for a new finance facility. C'mon mods.

  • This is a terrible credit card lol.

  • maybe should apply and use it when interest rate is back to 10% pa in 100 years time?

  • +1 vote


  • Much better deal to get a zero fee card and pay on time IMHO.

  • It's a deal for those with who have issues with credit card spending in the first place. (not me)

    People kinda need to realise if "everyone" was smart enough to never have to pay interest in credit cards or similar fees like this, any sort of credit card wouldn't exist. No good offers anyway like all the free cards I use.

    • There is nothing wrong with this product, just whether it is a deal is debatable.

      I don't think it is like for like to compare this with AfterPay, as there is no way this product allows the customer to defer the entire amount without incurring new cost

      This product is comparable to Latitude/GE no interest loan like https://www.harveynorman.com.au/customer-service/interest-fr..., where both charges a monthly fee.

      Differences I believe here are:
      * No account setup fees for NAB
      * NAB allows new debt on existing credit card, so setup fees are saved
      * NAB forces monthly repayments (I feel it is responsible to do. some Latitude/GE loan has no repayment until the end)
      * NAB charges a higher monthly fee (e.g. $10pm v.s. $6pm)
      * NAB doesn't offer giftcard or other incentives to apply for this product

      Something to look into more is the "no late payment fees". What if I cannot pay? Do they just freeze the account for new debt? Do they stop charging monthly fees?

      I'm a NAB shareholder, and it is in my interest this product succeeds!

  • The only scenario I can see this being useful is for someone who wants a credit card to keep in their sock drawer for emergencies. Someone who doesn't have any other credit cards, but wants piece of mind that they have some emergency funds there when required…. someone who isn't good at saving but manages to live their life and pay their day to day expenses with their debit card.

    Other than that, for most people I don't see it as being a good deal.

  • This type of card is perfect for those that have a CC solely for emergencies such as covering a private hospital admission.

    It can sit for years, never used, never costing but when used 0%.

    It is a benefit over current CC that charge 15-20% if your excess is say $1000.

    $35 monthly fee vs $150-200 fee.

    • Why not just have an emergency savings fund or no interest credit card for the first 12/15 months?

      • Not everyone can afford or justify the savings and as with this CC, others are an option, just as ppl have been doing for years.

        People simply have their own way of managing their finances, nothing wrong with that 💁‍♀️

        • Australia has one of the highest debt ratios in the world. folks could be better at managing their own finances, and be pointed to options that decrease their levels of debt/interest etc. Stats are there that more than 70% of people don't even have savings accounts of over 10K.

          • @adrianhughes1998: Yes but that's unrelated to why someone, for a myriad of reasons, may like an emergency credit card and not $1000+ currency.

            Children, elders, security, emergency, bank protection, reducing premiums, etc.

            It's not up to me to determine what is or isn't appropriate behaviour financially for others.

    • In that case we should all get one and never use it, just to annoy the bank.

  • It looks like the biggest win for this product goes to the retailers. NAB says they will not charge them a merchant fee. On the other hand, BNPL services charge retailers a lot more than the usual credit card fee and they are not allowed to pass it on to customers. This will eat into margins, eventually driving prices up for everyone. Or driving small retailers into the ground.

    • Do they?

      Don't the merchants get charged directly by their issuing bank (providers of the terminals they use) a set blended rate (e.g. 0.7% visa/mc, 1.5% amex, etc) who in turn have to pay the interchange provider (visa in this case)?

      Unsure where along the chain does the the benefit of using the NAB card reach the merchant.

  • I thought it was an interesting concept until i read the monthly fee, which is as high as 12%pa of the limit on the $1000 card.

    As a percentage of balance carried, it's even worse; e.g. if you're carrying a $500 balance on the $1000 card, you're effectively paying 24% interest pa. On a lower balance of say $200, you're paying $10/month for an effective 48% interest pa.

    It'd be far better for the consumer if they simply charged a low % of the balance as the monthly fee, say 1%; which would put it in line with the many existing low rate credit cards on the market today.

    But then they wouldn't be able to market it as interest free. This card preys on the financially illiterate with the "interest is evil, but fees are reasonable" I'd hazard to say that those same people would probably be financially better off with one of the many low-rate card available available on the market.

    This is a terrible product.

  • So the terms for the monthly fee reversal say "don’t use your card…". Does "using" the card include $0 authorisations as well as refunds or just purchases and authorisations with an actual value?

  • How is this a long running deal? It's just a launch of a new product!

    This post is forum worthy, not deal worthy.

    What the Mods is going on here hahaha

  • Get ready, CommBank are working on their product too and will be releasing it shortly
    commbank neo

    • Identical to the NAB card with higher fees.

      $12 for a $1,000 limit
      $18 for a $2,000 limit
      $22 for a $3,000 limit

      • CommBank card has a lower repayment (2% of balance or 25, higher of), also has access to their cash back program.

  • You can get a coles no annual fee card and that comes with flybuys points too (although need to pay it off each month to avoid interest)

  • This is the most idiotic offer from a bank I have seen! Just when you thought the banks couldn't get any dumber (because they clearly think the people are!) they go and produce a card to "combat" the new BNPL space. SMH… What a complete joke!