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Is the NAB Low Rate Card Worth It in 2026?
With a competitive 13.49% APR and a tempting cashback offer, NAB's Low Rate Card could be a strong choice for balance transfers. But watch out for the fee hike in 2026.
The Quick Version
The NAB Low Rate Card offers a steady 13.49% APR, a choice between a $400 cashback or a low-rate balance transfer, and an annual fee set to jump from $59 to $99 in April 2026. Ideal for those consolidating debt, but less so for rewards seekers.
Rates shown are representative. Your actual rate depends on your credit profile. This is not financial advice.
NAB Low Rate Card
NAB Low Rate Card offers balance transfer and cashback options.
NAB Low Rate Card
The Fine Print
According to NAB's official page, this card features a fixed 13.49% APR and an annual fee that starts at $59, increasing to $99 from April 2026. You can choose between a 4.99% p.a. balance transfer for 24 months or a $400 cashback on qualifying purchases. Note: no rewards program or foreign transaction fees are mentioned.
What's Actually Good
The card stands out with its 4.99% balance transfer offer for 24 months, which is ideal for those looking to pay down high-interest debt. The $400 cashback is also a nice perk if you can meet the spending requirements. Plus, it’s a low-rate Visa with up to 55 interest-free days, making it a sensible choice for everyday spending.
The Catch
The upcoming increase in the annual fee to $99 is a downside, especially if you're on a tight budget. Also, the card lacks a rewards program, which might be a dealbreaker if you're looking to earn points on your spending. Finally, the balance transfer deal is only beneficial if you can pay off your debt within the promotional period.
Who Should Apply
This card is best for those with existing high-interest debt who want to take advantage of the balance transfer offer. It's also suitable for individuals who can spend enough to qualify for the cashback but aren't interested in ongoing rewards programs. Ideal candidates will typically have a good credit score to benefit from the low APR.
The Bottom Line
If you need to consolidate debt, the NAB Low Rate Card is a compelling option, especially with the low balance transfer rate. However, if you’re after rewards or a long-term low-cost card, the fee hike and lack of a rewards program might make you think twice.