Same thing as Steppay's usual spend $400 get $50 cashback, except that it's NAB now.
Think NAB's BNPL is new, quite late to the game but free $50 is free $50. Close your account right after so it starts the clock on when an account is considered 'new' again.
Of course mate
Not necessarily a given though, afterpay don't do credit checks for instance
100% affirmative on the credit check. Credit limit is upto $2k
its a bank so credit check is a yes
NAB Now Pay Later has no interest, international transaction fees, late fees or account fees. There are no hidden fees to worry about with a NAB Now Pay Later account.
But must have a NAB bank account….sigh
Which you can open online in few minutes
Financial 'technology'
Is this valid if you have churned a NAB credit card recently?
This is a BNPL account, not a CC
I tried applying and got hit with:
"Sorry, you're not currently eligible for NAB Now Pay Later. Unfortunately, you are currently ineligible to apply for NAB Now Pay Later at this time. This could be because you do not meet the product eligibility requirements or your other credit products may not be in order."
I previously had a NAB credit card that I recently paid in full and closed after churning. This may render people ineligible if they've done the same.
YMMV.
I've closed a NAB cc 2 months ago after got the bonus - held for about 5 months. Then applied for this 2 weeks ago and got approved message within an hour, for $500 limit - no problem with me.
I then applied for NAB low rate CC for their cashback offer and no fee for life and also got approved next day.
not complaining about the $50, but Australia can't need a cashless base. Supporting these will cause more reasons for them to have cashless… unless i am reading it wrong?
Whats wrong with going cashless?
You can't dodge tax and one day every 3 years you might be inconvenienced by some sort of outage.
Banks having even more of a monopoly on your cash and assets, what could go wrong
How would that give the banks a monopoly over your assets? Other than cash.
Which has been stored in banks for a long time anyway.
More and more businesses will charge card surcharge cos fees are getting more expensive
Businesses only do this because they can, not because it makes sense.
Businesses don't charge you the time and money they have to spend to have cash change, store the cash, securely move the cash, bank the cash as well as the extra staff you need because cash payments are insanely slow.
Most of the time you see surcharges are because a restaurant is using a 3rd party ordering platform or because they are trying to push you to pay cash so they don't have to pay tax.
@samfisher5986: How do you explain ALDI charging 0.5% for tapping my cards then?
I believe fees are also the reason lots of small businesses switching to square. Almost all businesses at my farmer market does this now (the white square device you tap to pay)
@bheart: Because it used to be charged as a credit transaction instead of EFTPOS.
This isn't the case anymore, if you use a debit card that supports EFTPOS, tapping will now route it through the EFTPOS network so you get no surcharge.
Cashless makes it harder to hide an alcohol and gambling addiction.
Having a credit card with NAB may affect. For example if you have a low limit and your card already maxes out the limit. I got this message when applying:
"Sorry, you're not currently eligible for NAB Now Pay Later
Unfortunately, you are currently ineligible to apply for NAB Now Pay Later at this time. This could be because you do not meet the product eligibility requirements or your other credit products may not be in order.
You may become eligible for NAB Now Pay Later in future. If you'd like to know more, NAB Virtual Assistant can help you."
Did you have to provide income & other financial info during the application?
No.
I have a low-limit Coles No Annual Fee Credit Card, which may be the reason I got refused by NAB this time despite my credit score being excellent. I haven't used that card for a long time tho.
To all the naysayers talking about cash vs cashless. If the business is interstate and you can't find another avenue locally at a similar price you can only pay via online.
12.5% cashback - it's okay but doesn't beat 15% giftcards at same locations. Any rewards system like afterpay have?
Couldn't you buy those 15% off gift cards with this 12.5% cashback offer for ~25% off total?
Don't know, but a good question.
Can't find anywhere in the app to apply.
Whatever!
Literally just clicked the link as posted.
Then clicked, "open in app"
Opened up to AfterPay offer
Thanks that worked.
Though I find it a bit strange it is not available in app directly? Maybe they hide the option as they prefer you to use a CC that charges very high interest. ;)
Afterpay has rewards if you use their service so I think it may be a better option.
Though I find it a bit strange it is not available in app directly?
It's there under New Account option.
You’re not gay, but $50 is $50, right?
Why bother with this when you have to go through a credit check and can get the same from afterpay or paypal without the hassle?
$50
Utility bills counted as eligible spending?
Last time they did the deal I used it for my car rego. Got the $50 into my account within 3 days after making the limit.
How does credit check affect us in Australia? I always thought credit score was a USA thing…. I already have accounts and credit card with NAB though…
Most people would think same but they are different - matter fact, Australia's CS is more unique than other countries like US or UK.
Have a read here
Offer ends 12 January 2024.
OP - please update the end date if you can
$400 in single transaction or can it be multiple transactions that make up to 400?
Either
I can confirm there is a One-off credit check.
Thanks for confirming. Not worth for $50 rather try to get a CC with big bonus points
Your cashback will be credited to your linked account within 60 days of the end of the offer period.
means March 2024?
I'm unable to get the BNPL digital card number, just the last 4 digits. Checked play store and app appears to be up to date, showing Open button rather than Update. Is it just me?
NVM the issue was that I had to wait for the features to appear after a few hours.
WARNING!! Do not do this promotion if you do not already have an existing active NAB everyday account. I opened a new EA account as per the instructions on their deal page only to be rejected when I tried to open the BNPL account. After contacting support I was told I needed a 6mth ‘relationship building’ period with NAB to be eligible. This is a misleading and deceptive promotion as they do not state these conditions on the deal page.
Can anyone else back this up?
Yes same experience…need 6 months of transactions to be eligible. Wasted my time on this.
Not sure if they're strict they with the '6 months', I signed up to their everyday account back in early July and had no issues opening this last month soon after deal was posted (so roughly 4 months)
Anyone got the cashback yet?
Nup
Are you aware of any alternate way I can meet the $400 requirement quickly without incurring any fee?
Gift cards are your best bet. Next is SIM cards if you are into boost deals, but that would take a long time to reach $400. Got bills to pay? Flip electronic devices you get here for cheap on the secondhand market? Maybe this deal still works https://www.ozbargain.com.au/node/810923
Thanks Mate. Should have enrolled bit earlier. Now only have 2 days left before the offer ends.
@ninohax: Yeah January isn’t the best time to spend money, but retailers might choose to clear their stock. You’ll never know what might come up 😊
met spend 15/11… still no $$
That's interesting…and good to know
same have met the spend albeit only 2 days back but haven't received the cashback yet. Seems they are going to actually take 60 days from Jan 12(Offer End date).
Completed spend mid December and have not received anything yet.
same here
has anyone got their $50?
Guess we all have to wait till mid March
$50 credited today for me.
Thanks for the post mate, just check mine arrived today as well
Just got it today as well
Yep, got mine today.
got my $50 today
Credit Check?