[Updated at 1:59PM AEDST 16 January to reflect interest rate change]
With the Honesty Experiments, we set out to create real, everyday situations that truly tested honesty. We lost wallets on a Sydney footpath, set up a coffee cart in Melbourne that gave back too much change, and dropped twenty-dollar notes on a busy city street.
The results proved that Australians are an honest lot, and they deserve a credit card with no nasty surprises.
Balance transfers are commonly used to reduce the interest you pay by transferring your debt to a new card with a lower interest rate for a set period. But when that set period ends, some banks hit you with higher cash advance interest charges that can seriously add up.
Unlike some banks, a NAB credit card reverts to the lower everyday purchase rate no matter what.
Here’s an example, if you have a balance transfer on a Commonwealth Bank Low Rate Credit Card, after the balance transfer period ends, the interest rate you pay will go to the cash advance rate, currently 21.74%p.a.1. With a NAB Low Rate Visa Card, this would go to the lower everyday purchase rate, currently 13.24%p.a.2. So it saves you money.
We believe that it’s the honest way to do balance transfers. What do you think?
- Sourced from commbank.com.au. Rate current as at 10 August 2011 and subject to change.
- Rate current as at 10 January 2012 and subject to change. Fees & charges apply.
- Approval is subject to NAB’s credit assessment criteria. Terms and Conditions available from nab.com.au