NAB StraightUp Card - Review | Finder

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Our verdict

The first no interest credit card in Australia that charges a monthly fee when you’re paying off a balance instead.

The NAB StraightUp card is very different to most credit cards because it never charges interest on your balance. You can still pay off purchases over time, as long as you make the minimum repayments. You have the option of paying more off whenever you want. This structure makes the NAB StraightUp an option you could consider if you’re looking at credit cards, charge cards or even buy now pay later services.

As for costs, the monthly fee you’ll pay is $10 for a $1,000 credit limit, $15 for a $2,000 credit limit and $20 for a $3,000 limit. The monthly fee is only charged when use the account. So if you don’t carry a balance and don’t use the card for an entire statement period, NAB will reverse the monthly fee for that period.

Each statement period is made up of 30 days when you can make purchases interest-free, then 14 days before the due date. This gives you a maximum of 44 days in each statement period before you need to make a payment. But, while the credit limits on this account are conservative, make sure you’re not spending money or carrying a balance just because it’s convenient.

Pros

Charges a monthly fee based on your selected credit limit
If you don't carry a balance or make purchases, the monthly fee will be reversed
No interest charges or other fees, including foreign currency fees and late payment fees

Cons

No rewards program or perks
Unable to make cash advances
Maximum available credit limit of $3,000 is low compared to standard credit cards

The NAB StraightUp card is a simple alternative to buy now, pay later and traditional credit cards. It gives you a way to buy what you want now and pay it off over time – without any interest charges. Instead, you’ll pay a monthly fee whenever you carry a balance, with a cost of $10, $15 or $20 depending on your credit limit.

This card can be used anywhere Visa is accepted and also features 0% international transaction fees. In this review, we’ll explain how the account works and how to compare it with other cards.

Details

Product details

Product Name	NAB StraightUp Card
Purchase rate p.a.	0%
Interest-free period
Min credit limit	$1,000
Max credit limit	$3,000
Card type	Visa

Eligibility

Available to temporary residents	Yes - Conditions apply
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	$0
Late payment fee	$0
Foreign currency conversion fee	0%

How to apply

You can apply for the NAB StraightUp card online by filling in a secure application form. Before you get started, make sure you meet the eligibility criteria and have all the documents and details you need to complete the application.

Eligibility criteria

Income. You must earn a regular income.
Australian residency. You must be an Australian or New Zealand citizen, an Australian permanent resident or a non-resident holding an eligible temporary visa. Visas that are not eligible include working holiday visas, student visas, seasonal visas and bridging visas.

Age. You must be at least 18 years of age.

Documents and details

Personal details. This includes your full name, date of birth, home address, contact details and a valid form of ID, such as your Australian driver's licence, passport or Medicare details.
Employment details. As well as your salary, you'll need to include details of your current job title, employer, length of employment and your employer's contact details. You may also need to provide recent payslips to help verify these details.
Financial details. This covers any other forms of income, as well as assets such as savings or investments. You also need to provide details of existing credit cards, debts, loans or other liabilities, as well as your share of regular household expenses.

Card benefits

No interest, ever. This card offers 0% interest on all purchases, even when you carry a balance. But you are still required to pay at least the minimum amount listed on each statement by the due date. Note that you can use this card for everyday purchases, including for BPAY services. But you can't use it for balance transfers, cash advances or gambling.
44-day statement cycle. With this card, you have 44 days between the start of a statement period and the payment due date. This is a similar structure to other credit cards or charge cards, although the number of days can vary with other options.

No monthly fee when you don't use the card. If you don't have a balance and don't make purchases for an entire statement period, the monthly fee will be refunded back to your account for that statement period. To avoid any confusion, this only applies when your balance is $0 at the start of that statement period – if you're paying off purchases from a few months earlier, you'll still have to pay the monthly fee even when you don't make purchases in a statement period.
Visa benefits. You can use this card for purchases anywhere Visa is accepted, including in stores, online or over the phone from all over the world. You'll also get access to exclusive deals on shopping, dining, entertainment and travel through Visa Offers + Perks, with current deals listed on the Visa Australia website.

Rates and fees

Monthly fee. A $10 monthly fee applies for a $1,000 limit, a $15 monthly fee applies for a $2,000 limit and a $20 monthly fee applies for a $3,000 limit. This fee is charged each month when you use the card or have a balance from previous months.
Minimum payments. The minimum amount you have to pay off a balance on this card is determined by your credit limit. It is $35 per month for a $1,000 credit limit, $75 for a $2,000 credit limit and $110 for a $3,000 credit limit. Minimum payments factor in the cost of the monthly fee and must be paid by the due date listed on each statement.

Foreign currency fees. This card does not charge a fee for transactions made online or overseas in a foreign currency.

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Amy Finder

Editor

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Nathalie

January 23, 2024

Hi can my husband and I apply for a card in joint names?

Jason Loewenthal Finder

January 26, 2024

Hi Nathalie,

This card doesn’t allow joint accounts or additional cardholders.

We have a guide about joint credit cards.

I hope that helps.

CHARLIE

January 22, 2024

Can a recipient on a Centrelink Carer’s allowance who earns $21500 P/A apply for this card ? Can someone who does not have a credit rating get this card?

Sarah Megginson Finder

January 30, 2024

Hi Charlie,

We can’t offer personal advice or customer service, so your best bet is to contact NAB and check your eligibility for this card.

As an alternative, you may be eligible for a 0% interest loan worth up to $3000 from Good Shepherd.

Hope this helps!

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Kerry-anne

January 22, 2024

I’m a pensioner and have a car loan but I own my own home am I eligible for a credit card?

Richard Whitten Finder

January 22, 2024

I suggest contacting NAB directly with this enquiry. Your eligibility depends on many factors.

April

January 11, 2024

I am self employed for the last 4 years. I don’t have pay stubs as I am a contractor but I can prove I have income every week (1,000-2,000) would I be eligible for a credit card?

Amy Bradney-George Finder

January 15, 2024

Hi April,

Yes, contractors and self-employed people can still apply for a credit card if they meet the eligibility requirements. You’ll typically be asked for supporting documentation such as your most recent ATO tax assessment notices, bank statements or other official documents to confirm the details. Banks and other credit card companies may include details on their websites, or you can contact them to check what’s required before you apply. Finder’s guide to credit cards for self-employed people has some more details that may be applicable too. I hope this helps.

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Michael Moran

December 06, 2023

Can retired people own own home .Cash in bank be granted this card

Amy Bradney-George Finder

December 13, 2023

Hi Michael,

You need to receive a regular income to be eligible for this card, but this could include superannuation and government payments according to the NAB website. If you have more specific questions you can contact NAB. Finder also has a guide with more details about getting a credit card when you’re retired. I hope this helps.

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