People will often use their credit cards for the basic functions. These functions are to purchase goods on the card and to get the occasional cash advance. However many credit cards offer a variety of features that you will rarely use. If you do not use these features often you will usually be paying a higher interest rate for the people that do use the features. The NAB Standard Card is a basic card that offers you low interest rates and a limited amount of features. By limiting the features that are available on the NAB Standard Card it ensures that you are not paying for other people to use the features of the card and you will therefore receive a lower interest rate on your purchases.
Features of the NAB Standard Card:
The NAB Standard Card is a basic credit card with a few features. This section will outline all the features and interest rates that are available with the NAB Standard Card. These features are:
- Interest rate. The interest rate that is offered on purchases on the NAB Standard Card is 19.74% p.a. p.a. The same interest rate is charged on cash advances.
- Discount on balance transfers. Balance transfers are any funds that are transferred from another card onto the NAB Standard Card. The NAB Standard Card offers you a discount on the interest rate that is offered on balance transfers. If the first 6 months of the balance transfer you will only pay 1% p.a. for 6 months p.a. on balance transfers. This low interest rate will give you a bit of time to organise your finances and reduce the amount of debt that you have.
- Interest free period on purchases. Many credit cards give you an interest free period that allows you to buy now and pay interest later. The NAB Standard Card offers you an interest free period of 44 days on any purchases that are made on the card. If you use this feature properly you are able to make all your purchases and pay off the NAB Standard Card before the interest is charged.
- Link the card to the fly buys system. The NAB Standard Card can be linked to the Fly Buys scheme for no extra cost. This allows you to earn reward points with all your purchases for no extra cost. You can cash in these reward points for discounts on flights or to purchase a variety of goods.
- Purchase protection insurance. The NAB Standard Card offers you free purchase protection insurance on any items bought on the card. The purchase protection insurance protects the goods you have bought against theft, damage or loss for 90 days after the purchase. This is a great feature that can save you money and the inconvenience of having to repurchase any items you have bought.
While many credit cards offer a variety of features they will charge you more in the interest rate to accommodate for these features. This can be very disadvantageous, especially if you don’t use any of these features. If you don’t use any of the features you are essentially paying for other people to use it. The NAB Standard Card offers you a basic credit card with simple functions.
The NAB Standard Card offers you a low interest rate on purchases and cash advances while offering minimal features. While you will save money by not paying for all the additional features, the NAB Standard Card still offers some essential features that most people will use. To find out more about the NAB Standard Card please don’t hesitate to contact us.
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Posted on Wednesday, July 14th, 2010 at 3:24 pm
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