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NAB Low Rate Credit Card: $300 Cashback with $1,500 Spend in 90 Days ($59 Annual Fee or $30 for Existing NAB Customers) @ NAB

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NAB Low Rate Credit Card: $300 Cashback with $1,500 Spend in 90 Days ($59 Annual Fee or $30 for Existing NAB Customers) @ NAB
Go to Deal
DanTheMan10 on 26/06/2024 - 17:25 nab.com.au (3036 clicks)
Last edited 26/06/2024 - 17:38 by 1 other user

Similar to ANZ and Commonwealth Bank

18% off for your next $1,500 of purchases and easy $1000 minimum credit limit

Seems like NAB customers have reduced annual card fees of $30 instead - thanks to bargain4all

From the website:

If you’re already a NAB customer you could be eligible for additional credit card offers such as reduced annual card fees, bonus rewards points and more by applying through the NAB app or NAB Internet Banking.
Purchases must be processed and charged to your account in the 90 day period from account opening to count towards the spend criteria.
Minimum monthly repayments required. NAB may vary or end this offer at any time.

Financial Cashback Credit Card VISA

Related Stores

National Australia Bank Group (NAB)
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Comments

  • bargain4all on 26/06/2024 - 17:32
    +4

    Looks like $30 annual fee for existing NAB customers.

    • wsqwin on 27/06/2024 - 09:53

      Mine still shows $59

  • OZBMate8911 on 26/06/2024 - 17:35
    +1

    Works out at 16% with the annual fee doesn't it?

    • deed03 on 02/08/2024 - 16:31
      +1

      (1−((1200+59)÷1500))×100 = 16% off

      Right?

  • payless69 on 26/06/2024 - 18:47
    +5

    Open, collect, shut.
    Period!

  • Homr on 26/06/2024 - 19:02

    Will they take people who are on 820 visas?

    • Sweet3st on 26/06/2024 - 19:32

      Age Pension?

      • Homr on 27/06/2024 - 00:00

        No, its Subclass 820 Partner visa

        • Tomasu on 30/06/2024 - 13:25

          They do, I’m on 820 and have a NAB card from a previous deal

  • coast666 on 26/06/2024 - 21:44

    Just cancelled the one from nab 2 weeks ago, will I still be eligible?

  • johnnytran on 26/06/2024 - 22:05

    Sucks that they no longer give rewards points when you pay bills with bpay. I need to cancel my NAB cc's, does anyone know of any cards that give you rewards points using bpay?

    • harryjas on 27/06/2024 - 22:40

      I guess all the bills have options to make payments either via bpay or directly through credit card. Use the options to make payment on the links for the bills.

    • CodeXD on 27/06/2024 - 22:41
      +1

      bpay with zip pay

  • muncan on 27/06/2024 - 10:31

    Thanks, was just about to close off my Rewards Signature card (120K bonus FlyBuys points received), will hold off until they approve this one ;-)

    • borgainerz on 27/06/2024 - 20:26

      Wait; you can get 2 credit card in the same bank??

      • muncan on 27/06/2024 - 22:34
        +1

        Sure, why not? I’m an existing customer.
        Update: new card approved, cancelled existing card now.
        Rinse and repeat…

        • borgainerz on 28/06/2024 - 09:16

          so the 18 months does not apply here?

          • muncan on 28/06/2024 - 12:29

            @borgainerz: … the what now?
            I don’t have time to wait 18 months.

          • timhn on 29/06/2024 - 13:21

            @borgainerz:

            so the 18 months does not apply here?

            Do you see that mentioned anywhere in the T&C's ?

            • borgainerz on 29/06/2024 - 15:36

              @timhn: I have it on my NAB Rewards Signature: "This offer isn’t available to existing customers who received NAB Rewards Bonus Points in the last 18 months for a new personal NAB Rewards credit card, or when closing or transferring from another NAB branded credit card account, or in conjunction with other NAB credit card offers."

              but on this one I read this:
              The offers are not available when closing or transferring from another NAB branded credit card account or in conjunction with other NAB credit card offers.

              Not sure how to understand it

              • timhn on 29/06/2024 - 19:44

                @borgainerz: Typical in all banks T&C's

                Not available
                "when closing" : offer not available when you have this cc but already closed. Very obvious but their legal department wanted covering all bases.
                "transfer from another" : you could downgrade/transfer from another NAB cc to this but won't get the offer.

                • borgainerz on 30/06/2024 - 10:25

                  @timhn: wow thanks for the clarification, good to know!

                  • johnnytran on 14/09/2024 - 10:33

                    @borgainerz: Did you ever get the points?

                    • borgainerz on 14/09/2024 - 12:40

                      @johnnytran: I did get the point, but I was a new customer and it was my first card. I was just asking the person, now I know I can take a second cars at NAB without waiting the 18mo

                      • johnnytran on 14/09/2024 - 13:42

                        @borgainerz: Ah ok I'm new to this credit card game. I guess these two types of cards are different (reward point vs low rate card which doesn't offer rewards points). The 18 month wait is for the cards offering rewards points. So if you have this low rate card, you can apply for one of their rewards cards and get the points.

                        I did get $300 cashback when i applied for this low rate card months ago while having a NAB rewards card active from last year. I've just cancelled my rewards card and will have to wait 18 months before applying again. I'll keep this low rate card cause when i signed up i believe the annual fee was waived for the life of the card.

    • CodeXD on 05/11/2024 - 11:50

      Did you get the cashback from this? I also had NAB Rewards Signature earlier this year. So want to make sure that I am eligible to get cashback from this deal.

      • muncan on 05/11/2024 - 15:45
        +1

        Yes I did a few weeks ago, my statement shows $300 PROMOTIONAL REBATE.
        Splashed out on a WISH gift card so I could request this one closed.
        Now onto the next frontier! 🐴

        • vawiyoci on 05/11/2024 - 15:52

          Did it take the full 90 days or less/more than the other commenters here?

          • muncan on 05/11/2024 - 18:46
            +1

            @vawiyoci: More or less…

            02/07 first spend
            15/07 pre-payoff card $1530 covering $30 fee (account in credit)
            16/07 last transaction (spend criteria hit)
            24/07 payoff card again after a few extra transactions
            11/10 $300 rebate lands
            14/10 rebate spent

  • vawiyoci on 27/06/2024 - 11:25

    Similar to ANZ and Commonwealth Bank

    Wonder if it's also similar to these banks with the exclusion period being separate from the FF and reward points card programs. Nothing in the t&c specifically stipulating it.

    • timhn on 29/06/2024 - 13:23

      Then it has no exclusion, just like Citibank cc.

  • reus94 on 27/06/2024 - 13:50

    might be a silly question - but just to be certain, If I've already had a NAB card and got Velocity bonus points (yet to cancel this card), would I still be eligible to get the cashback deal on this card?

    • DanTheMan10 on 27/06/2024 - 14:19
      +1

      Can’t find anything on t&c’s regarding this, best to call up and ask

  • Cludo on 27/06/2024 - 15:34

    This is not bad, I currently use NAB Rewards Platinum Card which is almost up for renewal. I may make the jump to this for the easy $300 then look at canceling to move to another bank for more Qantas rewards.

  • krazek on 28/06/2024 - 09:37

    Cash back will be credited to your account within 120 days from account opening if the spend criteria is met.

    Hopefully it doesn't actually take 4 months to get the cashback…

    • muncan on 28/06/2024 - 12:33

      … I think the $30 fee is annual for this card, not monthly.
      Though I’ve been thinking strange stuff lately.

      • krazek on 28/06/2024 - 12:36

        Yea it's annual but I don't want to have this open for 4 months as I'd prefer to churn

    • RTY on 04/07/2024 - 15:55
      +1

      I got the card 3 May and met min spend on that day, I'm still waiting for the cashback.

      • Cludo on 09/07/2024 - 21:48

        Anything yet?
        I just got the card 2 days ago and hit 1.5k.

        • RTY on 10/07/2024 - 09:08

          Nothing so far

          • FZRAM on 29/07/2024 - 11:22

            @RTY: Anything yet?

            • RTY on 29/07/2024 - 13:23

              @FZRAM: Nope

              • CodeXD on 29/07/2024 - 13:36

                @RTY: What was your spend on? Sounds like it might not be eligible to contribute to the $1,500 spend.

                • RTY on 29/07/2024 - 14:49
                  +1

                  @CodeXD: I bought $1.5k shopback supermarket gc on shopback on day 1, on the statement they were under "purchases" so it definitely counts as eligible.
                  Even if these dont count, the second month I bought gift card on lucas group website and bought stuff at dfo, those exceeded $1500 as well (total purchase over $3000 across two months)

                  • Stuy95 on 30/07/2024 - 15:55

                    @RTY: I’m also waiting for my cashback. $1500 spent on 07 May. I called NAB to confirm it was all eligible and they said it was and to wait until around 07-Sep and if the cashback hadn’t appeared by then they would investigate. I’ve churned a few cards from different banks and this is the longest wait by far!

                    • vawiyoci on 30/07/2024 - 15:59

                      @Stuy95: It's out of character or a change for them cos NAB give out the reward and freq flyer points pretty quickly within the same month's statement.

                    • RTY on 30/07/2024 - 16:06

                      @Stuy95: When my first statement came, I did chat online and customer service said it will be paid after the first 90 days (aka month 4). Luckily I now have westpac cc to churn for new expenses.

      • RTY on 17/08/2024 - 10:49
        +1

        Update: $300 arrived today

  • whey4000 on 15/07/2024 - 15:58

    I had a NAB Rewards Platinum Card a couple months ago, I think Im still eligible for the $300 on the NAB Low Rate Card?

  • zcream on 25/07/2024 - 15:54

    Signed on last month. Will the cashback be cancelled if card is held for less than 120 days?

    • CodeXD on 25/07/2024 - 16:12

      No. Just make sure you get the cashback before closing account

  • zcream on 30/07/2024 - 17:48

    Just a warning, you get hit with international transaction fees even if you pay in AUD and the transaction is done online via overseas entity. Roughly 3%

  • deed03 on 02/08/2024 - 16:33

    As a credit card recycling novice - read, never done it - explain how it would all work?

    I open the card, spend 1500 and pay the annual fee, and NAB does the cash back and then I close?

    • timhn on 03/08/2024 - 08:12

      Pretty much

  • haliloo on 04/08/2024 - 20:53

    Anyone received their cashback yet?

  • djprima on 07/08/2024 - 07:17
    +1

    Opened early June, so exactly 2 months and no cashback yet. Do you need to have a balance in your account for the cashback to be applied to? Or it can goes to positive?

  • mossie86 on 07/08/2024 - 13:30
    +2

    same question - when will I expect cash back? and when do they charge for the annual fee?
    I have purchased $1500.
    thanks.

  • RTY on 08/08/2024 - 11:16
    +1

    @djprima @mossie86 I met min spend 3 May and I'm still waiting for cashback.

    • djprima on 08/08/2024 - 17:26
      +1

      They said it could take up to 120 days, and it looks like they're using every last bit of that time.

  • Stuy95 on 08/08/2024 - 11:39
    +1

    Same here, met the minimum spend on 7th May and still waiting!

  • beantown on 09/08/2024 - 20:18
    +3

    I just got my $300, one day after my 4th statement

    • vawiyoci on 13/08/2024 - 10:44

      Holy cow that's a long wait even compared to FF points redemption for the other slower banks. Disappointing since NAB is normally same statement month payout for their reward points.

      • CodeXD on 13/08/2024 - 10:45

        At least it is annual fee and not a monthly fee lol

        • vawiyoci on 13/08/2024 - 10:56

          Originally applied this one for a quick single month in and out while in-between other point cards, now gotta keep this open and unused for 4 months urgh.
          With regards to the change to monthly fees I feel like churners should be happy since you'll only have to fork out $20-30 instead of the current triple figure annual one.

  • LKJ899 on 12/08/2024 - 21:37
    +1

    why is the post marked as expired? according to the website the offer is still valid

  • eli8te on 16/08/2024 - 18:02

    Does ppaying bills via Bpay count towards spend? Wondering if ii should bpay my rego or pay by cc (which comes with a surcharge)…

    • chanhoz on 20/08/2024 - 14:55

      yes, got 300 cashback after spent exactly 1500, 400 of which was bpay toward council rate

      • foxes28 on 20/08/2024 - 15:01

        How long did it take for you to get the cashback after meeting the requirement?

        • chanhoz on 20/08/2024 - 15:08
          +1

          finished spending on Jun, just got it a few days ago

      • CodeXD on 20/08/2024 - 15:20

        Did you pay from NAB Internet Banking -> Transfer & Pay -> Bill Payment?

        This is great if it counts cos I have so many bills to pay haha

        • vawiyoci on 20/08/2024 - 15:24

          Yeah cos generally it doesn't count at least with FF point cards, maybe NAB left it as an exception for this card for some reason.

          • chanhoz on 20/08/2024 - 15:34

            @vawiyoci: this card only exclude gambling from spending requirement

          • foxes28 on 20/08/2024 - 15:36

            @vawiyoci: It does count for ANZ Platinum card offer. I paid rego to Service NSW via BPAY and it counted towards the $1500 requirement. Granted it's not an FF point card

            • vawiyoci on 20/08/2024 - 15:57

              @foxes28: Interesting, that seems to be the common factor then.

              • foxes28 on 20/08/2024 - 16:03

                @vawiyoci: CMIIW I think BPAY transaction is not eligible for earning FF points but it is eligible for meeting spend requirement

                • vawiyoci on 20/08/2024 - 16:33

                  @foxes28: Definitely not the case with NAB/ANZ/WBC FF cards, even through auspost postbillpay and paypal (due to the MCC). Think someone commented on the Virgin velocity card deals (through citibank) that bpay is fine.

            • Drakesy on 02/10/2024 - 21:26

              @foxes28: I paid my rego on anz rewards black and it didnt count, admittedly i went through their cc portal

          • OhNoUShiz on 13/09/2024 - 22:47

            @vawiyoci: Thanks for the confirmation, going to get my partner to get the card too so we can pay off the council rates.

  • RTY on 17/08/2024 - 10:49
    +4

    Update: min spend met 3 May, got the cashback today 17 August

  • Stuy95 on 24/08/2024 - 07:14
    +1

    Met the minimum spend on 7th May and have just received the cash back today 24th August!

    • timhn on 24/08/2024 - 09:31

      Is 24th Aug about 120 days after you got approval ?

  • foxes28 on 26/08/2024 - 08:54

    Met the min spend on 2nd Aug. Received the $300 bonus on 21st Aug, though I raised a complaint about something else so maybe that's why they honoured it earlier.

    • vawiyoci on 26/08/2024 - 10:13

      Hopefully they're speeding it up and it's not a one-off. I suppose there's no point in trying to replicate this by raising a complain since they can always just defer back to the t&c of up to 90 days etc etc.

      • foxes28 on 26/08/2024 - 10:21

        Yeah 100%. I don't think you can raise a complaint for the cashback if the wait time hasn't lapsed yet. My complaint was about something else (not related to the cashback)

  • bogie on 10/09/2024 - 20:15

    If I pay off full balance on the card before the cashback arrives, is it possible to later withdraw or transfer the cashback without needing to spend more money with the card? How did all the people who had to wait months for the cashback approach this situation?

    • vawiyoci on 11/09/2024 - 10:07
      +1

      Back when they still use to refund the annual fee when you go to close the card, they'll ask you where to transfer the refund/negative credit balance. ANZ and citibank always sent a cheque.

  • OhNoUShiz on 13/09/2024 - 09:41
    -1

    Does paying off council rate using nab credit card eligible for cash back? Alternatively, any better saving options to pay off council rate? Ta!

    • foxes28 on 13/09/2024 - 09:42
      +1

      Someone already shared their experience above: https://www.ozbargain.com.au/comment/15622810/redir

      • OhNoUShiz on 13/09/2024 - 09:46
        -1

        Ta, not sure why I missed it.

    • foxes28 on 13/09/2024 - 10:16
      +1

      YMMV it depends on the information you put in the application and/or your history with them. Could be about something else but typically they will ask for payslips or home loan statement.

      • OhNoUShiz on 13/09/2024 - 17:24
        -1

        Thanks. Somehow it was approved in couple of hours and notified via email. Nobody contacted me.

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