NAB launches Australia’s first no-interest credit card



NAB has today launched the NAB StraightUp Card, Australia’s first no interest credit card, in response to Australians wanting more control over their finances.

For a flat monthly charge, customers can get access to credit of up to $3,000. Customers don’t pay the monthly fee if the card is not used1 and there are no other fees or charges. This means no interest, no annual fees, no late payment fees and no foreign currency fees.

NAB Group Executive, Personal Banking, Rachel Slade said the NAB StraightUp Card represented a completely new approach to credit.

“We started with a straightforward idea – to create a card with no interest, no annual fees and no late payment fees,” Ms Slade said.

“This is the result – a simple, easy to understand credit card that can be used anywhere Visa is accepted online or in store.”

Ms Slade added the NAB StraightUp Card had been developed through extensive customer research and an understanding the bank needed to innovate to keep pace with customer demands.

“Credit cards have not really evolved in recent years. But our customers’ needs and expectations are changing and we want to change with them,” she said.

“In the NAB StraightUp Card, we’ve created something completely different to every other credit card available today, with a simpler approach that makes it easy for customers to take control of their finances.”

Unlike Buy Now Pay Later services, NAB StraightUp Card offers a continuing line of credit, is available to use anywhere Visa is accepted, has no late payment fees, and allows customers to repay balances over a longer period of time.

Along with the no use, no pay feature, the NAB StraightUp Card also has lower credit limits than most credit cards and higher minimum repayments to help customers take greater control of their debt. NAB StraightUp Card does not allow cash advances or gambling transactions.

“The NAB StraightUp Card’s range of features means it is the simplest credit card offering in the market. And with many safeguards in place it can really help customers take control of their spending,” Ms Slade said.

Customers can apply from 10 September 2020 at

Key card features include:

  • No interest – always
  • No late payment fees
  • No use, no pay (monthly fee reversed when card isn’t used, and you have a $0 balance during the whole statement period)
  • No foreign currency fees
  • No annual fee
  • Can be used anywhere Visa is accepted, online or instore
  • Can be used with all contactless options, incl. Apple Pay, Google Pay, Samsung Pay and NAB Pay
  • No gambling or cash advances
  • New look card with improved accessibility features

All for one simple monthly payment, depending on your credit limit:

  1. $1,000 credit limit: Pay $35 per month towards your balance ($10 monthly fee is included in your balance)
  2. $2,000 credit limit: Pay $75 per month towards your balance ($15 monthly fee is included in your balance)
  3. $3,000 credit limit: Pay $110 per month towards your balance ($20 monthly fee is included in your balance)

*The above are minimum repayments. We encourage customers to pay as much as they can each month.



1 Monthly fee reversed where there is no amount owing and the card has not been used during the relevant statement period.
2Customer research conducted by Nature Pty. Ltd. among n=2,450 Australians in July 2020.




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