3.99% p.a. for 12 Months on NAB Credit Card Purchases @ NAB

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Sean 8738 on 04/09/2024 - 14:09 nab.com.au (147 clicks)
Last edited 04/09/2024 - 14:11 by 1 other user

Got an email today from NAB below, most likely targeted:

Your NAB Low Fee card comes with many rewards and features – here’s one more to reward yourself with, right at your fingertips.

Enjoy a discounted rate of 3.99% p.a. on purchases for 12 months on your card ending in ****. A rate this low means extra flexibility with managing upcoming bills, paying for a holiday or any unexpected expenses.

To activate this special offer, you need to click the ‘Activate your offer’ button below before 11:59pm AEST on Sunday 8 September 2024 and your discounted purchase rate will be automatically applied for 12 months.*

I was thinking about activating this offer and earn interest for 5.55% P.a in ME Bank,
but then I remember I need pay tax for the it, but just put it here incase anyone need it.

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  Turd on 04/09/2024 - 14:26

  How were you plan on moving the money from the card to the ME Bank?

  • 

    HolyCr4p on 04/09/2024 - 15:14

    Were how

  • 

    Sekhmet2077 on 04/09/2024 - 18:35

    Cash advance, if you can get a cash advance at this rate there may also be a different fee.

    • 

      Turd on 04/09/2024 - 22:09

      Cash advance isnt purchases though

  • 

    Sean 8738 on 05/09/2024 - 14:04

    I was thinking, instead of repay the statement in full, just pay the minimum repayment and pay the 3.99% interest over time, that allows the money that supposed to repay in full into 5.55% Me Bank. To earn that interest difference.

    Even if that works, income tax is actually fill up the interest gap, so not really worth it.

    • 

      QFFlyer on 21/09/2024 - 23:28

      Indeed, good point re the interest, however offsetting a home loan makes it very much worth it, if that's an option for anyone (assuming most people are now paying more than 4% on mortgages).