The minimum monthly repayment and monthly fee that you will be required to pay on your NAB StraightUp Card depends on your credit limit. These credit limit options and subsequent fees are outlined below.
Is there an annual fee?
No, there is not a set annual fee for the NAB StraightUp Card. Instead, NAB charges its StraightUp cardholders a monthly fee in exchange for not charging any interest. This monthly fee can then be multiplied by 12 in order to understand the annual cost, which can be convenient when comparing with other credit cards’ annual fees, especially frequent-flyer credit cards.
Credit Limit of the NAB StraightUp Card
You can choose from three different credit limits with the NAB StraightUp Card: $1,000, $2,000 and $3,000.
These are much lower than the standard credit card offering, which may deter some borrowers from the NAB StraightUp Card, but may also attract other customers who want to rein-in their spending or keep their credit score healthy. Additionally, cardholders should be aware of the following fees:
- The $1,000 credit limit has a $35 minimum monthly payment and a $10 monthly fee added to your balance;
- The $2,000 credit limit has a $75 minimum monthly payment and a $15 monthly fee added to your balance;
- The $3,000 credit limit has a $110 minimum monthly payment and a $20 monthly fee added to your balance.
NAB states that if a cardholder doesn’t make any purchases and has an outstanding balance of $0 during the whole statement period, the monthly fee will be reversed.
Are Balance Transfers Offered?
No, the NAB StraightUp Card does not offer balance transfers or product transfers.
