• expired

Fee-Free Balance Transfer & 0% Interest for 32 Months for Existing Credit Cards @ NAB


Hi OZB Family,

Great balance transfer (BT) offer for existing NAB credit card holders, somewhat a rarity for this long term with no BT fee. I received an email about this back in August advising to apply before 30 Sep 2021, but no where it said only for the recipient. Generic email, the common open offer link with generic T&C confirms that, not targeted. Enjoy :)

T&C from the web link below, refer to offer link for more details:

  • 0% P.A. for 32 months on Balance Transfers when you bring the balances of your non-NAB cards across to your NAB credit card account.
  • Promotional offer is available to existing NAB Personal Credit Card primary cardholders only for a limited time.
  • Promotional offer is not available for balance transfers from another NAB credit card account or any current balance transfers with NAB.
  • The promotional offer must be applied for online.
  • No balance transfer fee applies
  • Balance transfer reverts to cash advance rate.

Related Stores

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


  • +1

    Got one of these as well, it’s a good one. Considering it applies for ‘existing’ customers.

  • thanks op finally something for existing customers. pity my limit is low on nab never the less ill give it go today. anyone know of similar 0 fees for B/t offers for existing card holders at the other banks?

  • they calling them selves jab now

  • +4

    Damn, maybe the banks are finally learning that paying hundreds of dollars in customer acquisition as opposed to retaining via reasonable offers isn't such a genius move.

  • +1

    Anyone bought a car on credit card and then done a balance transfer?

    Planning for a new car in the not too distant future, and always wondered if it would be cost effective. Would have to weigh up any fee for using the credit card, any balance transfer fee, potential for not getting the balance transfer approved, making sure the money to pay the bill is there, so you don't pay any interest (would most likely just sit in a.mkrtgage offset so not a real issue). Any other downsides?

    But you get a benefit of the money sitting in your offset for the length of the balance transfer, eg 2.5 years and some reward points, though probably not enough to justify much, unless you are getting an initial sign up bonus too.

    • wow what's the credit limit on your CC?

      • +3

        I used CC to pay for half a car last year. The points I earned was insane. Couple that with balance transfers, it's a much better deal than getting a car loan

        • Would the dealer be okay for you to pay over CC without any fees? I imagine it would eat up quite an amount of transaction fees for them.

          • +1

            @wildstone: Some dealers not like use of CC's because of chargebacks and stuff like that, and it also cuts their profits from finances. If that's the case choose a different dealer, (Not your problem that they dont accept VISA/MASTERCARD CCs)

            But if you are in market for buying a car at cheapest price to you, you will likely not be choosing their own finances, THEY WILL DRAIN EVERY PENNY FROM YOU.
            If you are in market to make dealers rich of course go ahead and do that

          • +3

            @wildstone: Not sure if it'll work on used cars, but for new cars, do the following:
            Tell them you're looking to buy a car, on finance. Get them to give u best price. Often they slash their profits on car to make volume and in hope to make it back on finance. So make sure you tell them you're also looking for finance, without actually committing.
            After you've signed and paid deposit, price is locked in. Whip out your CC from here on out.

            New car dealers don't usually charge transaction fee. At least, I have never been charged before for 25k on CC.

            Same script worked for me in 3 separate purchases.

            • +1

              @jonchai: I wonder how many people can do this with a straight face. Car salesmen are not the most honorable people out there but I don’t know if I can do this. What is their reaction when you did the quick u-ie?

              • @nine6eight: It doesn't matter. U can do it over the phone. Price is locked in, they can't go back on that, and you haven't committed to taking a loan from them. They still make a sale in the end, just not as lucrative 😊

    • +2

      That works. And just imagine the points that you'll earn. Go for it, if it's within your budget.

    • +1

      I paid 90k for my car on my Charge card this year. It depends on the dealership, they will most likely charge you 2.5% surcharge on it.

  • So is it for existing customers only?

  • Maximum amount for a new NAB card account
    Where a request is made within 30 days of opening a new NAB card account, NAB may transfer up to a maximum of 90% of the available credit limit (less any applicable annual card fee or balance transfer fee).

    Where a request is made after the first 30 days of opening a new NAB card account, NAB may transfer up to maximum of 100% of the available credit limit (less any applicable annual card fee or balance transfer fee).

  • +1

    does anyone know if there is any benefit to top up their nab card to increase limit and then do a b/t? ie would this be possible to do , top up $500 card limit putting it in credit by another $500 to $1000 do a B/t of $1000 to anz withdraw funds deposit into INg savings account earning 1.35% in interest?

    • +1

      It’s a lot of effort to go to for $13.50 in a years time .

      • +1

        true but imagine if you had a spare100k in savings or in home loan redraw or offset account what you could do with that.

        • They won't give you a limit of 100k

          You might get $20k, which is $400 off a loan assuming you are at 2% interest rate, which is OK but you can get sign up bonuses that are better

    • Or you can use the money to reduce your Home Loan interest by topping your offset account.

      If you are stuck with higher variable rate, this will be your saving.

  • is the nab straightup card eligible for this deal?

    • +1

      not sure but i wouldnt do it since you have a monthly fee. imo you would be best try and do a in house product transfer to a nab credit card when they have a no annual fee promo.

  • From their T&C, I couldn't find the term "No balance transfer fee applies". Does anyone see it anywhere?

    • Expand the "Important information" accordion and its in the first paragraph:

      *Promotional offer is available to existing NAB Personal Credit Card primary cardholders only for a limited time. Promotional offer is not available for balance transfers from another NAB credit card account or any current balance transfers with NAB. The promotional offer must be applied for online. No balance transfer fee applies.

      • Got it! Thanks!

  • This is fantastic news! However, most NAB Credit Cards are 44 days interest free days cards.

    Not a problem but just to be aware.

  • +3

    Wow that's pretty good.

    Every time I want to close my NAB cc they do this!! Can't refuse.

    • Ha ha, in the same boat mate.

  • +1

    I've done this BT a few weeks ago, got the same email. Process went smoothly and can confirm no BT fee.

    • +1

      So…. why didn't tell us folks back then? lol

      • +1

        lol I thought it was targeted soz

  • Does a balance transfer close the old card or can you continue using it?

    • +1

      Just pays the balance mate, other card your responsibility including making repayments until the transfer money hits the other bank card. No impact on other card status with BT.

  • Thanks OP. Time for another balance transfer.

  • +1

    Thanks OP. Can't go wrong. 0% BT. No TF. 32 Months. If you can't pay it off within 32 months you deserve to pay the cash rate.

  • How long does this bt take on this deal to be completed?

  • It's not only for existing customer. The same deal is available for new customers too.

  • can someone who has taken up offer online please confirm if they got a confirmation email or ref number straight away and how long it took to process the BT?
    Did live chat but they were hopeless and didnt have access in their system to check and said BT can take up to 2 weeks and to call up.

    • I applied last night. I got mine partially approved straight away after submitting it.
      My approved limit was less than the BT. Therefore I wasn't able to adjust the $$ value. I rang them this morning after several transfers here and there. They updated their ticket and I was assured that I will get a call back this afternoon after my documents are verified. I submitted two recent payslips and a bank statement showing my pay. They adjusted the BT. Approved. I can see the BT is gone.

      • +1

        You seem to be referring to a brand new application mate. I believe question above was for existing cards.

    • +1

      I got no email confirmation or reference numbers, just successfully submitted screen. From memory took just around a week to process. Hang in there, give them at least 5 business days before you escalate/ check via call centre.

      • thanks aaruu ill wait 1 week then. i applied for 150% of limit by topping it up into credit hopefully they will approve it . .lol

  • I applied on Tuesday evening.
    I received the SMS approval on Thursday afternoon.
    The money is available in my another credit card on Friday morning.

    • I am still waiting despite I applied on Monday.

      • +1

        My credit limit is 9k. my available credit is 6k. I only applied 1.5k
        I guess the fast approval is due to my small amount of 1.5k (?)

        • my credit limit is 3K, I applied for 2800 dollars but as my card is new only 90 percent of the limit would have been transferred which is equal to 2700. So I don't know if I will be approved, I missed out reading this condition.

  • What details do you provide, e.g. does it actually need to go to another card, do you need to prove balance? Citibank (and resellers like Virgin Money)'s "cheque to self" were very flexible, I've had 40k in interest free loans sitting on my mortgage that way in the past and I'm looking for a new CC at the moment. Some NAB ones look like an OK deal (e.g. this is ok), this on top would be very nice if I can make use of it.

    • This NAB promotion needs to be transferred to another credit card.

      Thanks for sharing. It is interesting to know that you've got 40k in interest free loans on your mortgage. do you have any link to the "cheque to self" trick above ?

      • Does it need proof of balance though? I can pay to an ANZ credit card, but more than the outstanding balance, and withdraw it from that.

        The "cheque to self" is just a standard feature of the Citibank issued balance transfers (which includes Virgin Money). No obligation to pay it onto another credit card, they'll send you a cheque, or bpay an arbitrary account (I've had them bpay an ANZ credit card and withdrew from that there before), up to 80% of the card limit.

        Virgin Money have also been very generous with card limits before (twice they've given me 50k, so 80% = 40k on the mortgage for a while). I don't currently have this, had to pay it off before the 0% ran out last time, but if I can do the same with NAB I might as well.

        • As the "balance transfer" feature, we really need to transfer from one CC to another CC.

          On the other hand, if we transfer from one CC to a debit card/withdraw cash/bank account, this will be considered as "cash advance" and as a result, we will be charged by cash advance rate which is very expensive, e.g., 20% pa.

          • +1

            @ntienvu: ANZ credit cards, at least, do not consider it a cash advance if your card is in credit and so do not charge you anything (I'd double check before doing it again, but that was the case on the two previous occasions on two different ANZ credit cards).

            Do you know if there is any requirement to prove e.g. the balance on the card that you're transferring to, or the credit limit of the card that you're transferring to?

            • +1

              @ely: There is no requirement to prove. However, in the application form, they expect us to provide the other CC information including
              (1) Name of other bank/store/financial institution
              (2) Account number (non-NAB credit card or store card)

              Click here to see

              • @ntienvu: Thanks, unfortunately I can't see that ("Sorry, for security reasons, you're unable to access this page."). They don't ask you how much you want to transfer?

                • +1

                  @ely: FYI, here's some info on the cheque to self feature which suggests that it's no longer available… Looks like I last did in February 2020 though (15 month term kept me going until May this year), which was after they apparently stopped doing them.

                • +1

                  @ely: yes, indeed we will add how much we want to transfer which is up to 90% of the available credit.

                  • @ntienvu: OK, seems like you can still use this to get the money to do whatever you want then. Confirm the fees with your existing card when you're withdrawing funds when the card is in credit, if it's like ANZ and there are no fees, then do a balance transfer of 90% and transfer the excess funds to do whatever you want.

                    • +1

                      @ely: Applied for the CC. Applying for a balance transfer during the application used the information provided as part of the application on current cards and their outstanding balances to limit the transferred amount. No immediate answer on credit card application, so once it's open I'll try via the application process and see if I can request transfers higher than the available limit.

                      • +1

                        @ely: you shouldnt have applied for BT during new card sign up as theres a 2% fee? best wait until you receive card and then apply via above link

            • +1

              @ely: best to wait 1 day after funds arrive at other bank before withdrawing as system like anz will charge you a cash advance fee

              • @coolsteps: Yeah, did not apply during sign up.

                Yes, I've been stung by that a couple of times before, it's a bug in their system - I've demanded that they refund me each time and they have done so. For some reason they process withdrawals before deposits regardless of actual order of receipt and so the card goes into debit before bouncing back to credit.

                • @ely: Card approved for 50k and on its way, but it looks like I need to wait for the card to arrive to arrange the BT (needs the card number on the application). Application doesn't ask any questions about the outstanding balance on the cards being transferred to, just the amount to transfer, so I guess we'll see.

                  These ANZ fees state that

                  If the [credit card account] (based on transactions processed by ANZ) is in credit balance at the time we process the cash advance, the credit amount will offset the amount of the cash advance in the calculation of the 2% fee.

                  i.e. there is no cash advance fee if you're in credit.

                  These ANZ CC T&Cs state that

                  You may avoid being charged interest on a cash advance if your credit card account is in credit (by at least the amount of the cash advance) at the time the cash advance is processed.

                  i.e. no interest if your account in in credit by an amount equal to or less than the amount that you cash advance.

                  But to be on the safe side I've also messaged ANZ again to confirm that there are no fees if I transfer money off a credit card while it's in credit.

                  • @ely: ely you did well to get a 50k limit. best keep quiet as we dont want anz to pull the pin. i can confirm it works just best wait 24hrs before transferring funds out as you will waste time later on contacting anz to get fee's reversed. i should have applied for the no annual fee nab card for the wife to take up this great offer too but i don't think it would arrive before end of month? ely how long did you have to wait for the card to arrive?

                    • @coolsteps: Card has not arrived yet, but I applied for the card on the 19th and approved on the 23rd (probably would have been a day earlier if I'd provided evidence earlier, but didn't notice the email until after business hours). You'd be lucky to get it approved and delivered before the end of the month.

                      I don't think there's any risk of ANZ pulling the pin, these have been their conditions for years, and I suspect that they're common, not charging a cash advance fee for accounts in credit seems reasonable, and it seems obvious that you can't charge interest on a transaction that leaves an account in credit, there's no balance to charge interest on.

                      • @ely: thanks ely. did you apply for the no annual fee nab card? what type of evidence did they request? i am tempted to apply today for the wife as NAB no annual fee cards are rare. and if she doesnt get card by 30 sept she can always get the 0% p.a. for 20 months on any balances you move from your non-NAB credit cards to a new NAB Low Rate Card – but there’s just a once off 2% transfer fee.

                        • @coolsteps: Qantas Rewards Signature, only two payslips required as evidence. I go through a few cards a year normally, benefit of the points outweighs the cost of the cards even in a worst case scenario where you have to trade them in for gift cards (these are about 0.3c/point, GCs are typically ~0.6c/point, so you're still way ahead on the fees) and much better if you can use them for flights.

                          If I can do the huge BT to collect extra money to plonk on my mortgage (safe 2.49% return on the variable portion, or invest elsewhere) then that's an extra win, but even if not it's an OK deal.

                          • +1

                            @ely: wife applied for the no annual fee low rate card yesterday so deal must not have expired. they want her to call up about application hopefully only 2 payslips will be required too.

                            • @coolsteps: Just got an SMS today saying that the card had been shipped, so unlikely to arrive on time to actually get the BT deal assuming that the 30 September deadline indicated on the deal is accurate (I can't see it on the deal, just says "*Offer may end or vary at any time.").

                              • @ely: Update, card arrived, activated, balance transfer initiated and the money has gone out but not yet arrived, so… looks good so far.

                                • @ely: Update: huge balance transfer, much more than the balance of my CC, successfully landed on my card. 0% loan for 32 months activated.

                                  • +1

                                    @ely: thanks for the update !

                                    • +1

                                      @ntienvu: Nice to know it's possible even with cards that don't officially support this like the old Citibank issued ones ;) Interest savings will vastly exceed the annual fee, and 90-120k QFF points out of it as well on this particular card.

  • My card's limit is 3k but it's a new card so I can only get 90 percent of it to transfer. But I set 2800 dollars when applying for it. Is it gonna be rejected or is it gonna be approved if I add some more money to increase my current limit?
    Still waiting for the outcome after a week though.

  • Is this limited to transferring the balance from 2 non-NAB cards to your NAB card? The application form only seems to allow for the details of two non-NAB accounts to be entered even though there are references to being able to transfer balances from up to 5 non-NAB accounts to a NAB card on other parts of the NAB website

    • +1

      you may need to call up and do it over the phone if you have more then 2 cards. on a side note topping up your card limit and trying to do a B/T greater than your card limit will fail. got letter in the app and via snail mail the other day to call to discuss as it was rejected. i simply did again for 100% of my assigned credit limit and was approved the next day.

  • Mods, this deal does not seem to have expired; the page is still up and the terms and conditions don't appear to state an expiry date.

    • +1

      I see your point, makes sense. But the initial email received advising this offer definitely had an end date on it.

      Going by the history, NAB has accepted BT on expired pages because they it's still their obligation to execute if advertised.

      • +1

        Yeah, I'd take it as a buyer beware situation at this point though, for anyone looking to take up the deal now I'd sign in and chat to NAB to confirm that it's still available. I did this on Thursday anyway to double check that I was eligible, as I only applied for the card after seeing this deal (they confirmed that it was still on and that I was eligible).