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NAB Interest Rate Cuts on Credit Cards
Tuesday February 24, 2009
Australia's biggest bank, the National Australia Bank, has announced a range of interest rate cuts to its credit cards to the benefit of its customers. The changes take effect from Tuesday 24th February 2009 with the NAB Low Rate Visa Credit Card being of a particular focus for cardholders.
The NAB Low Rate Visa Credit Card holds a low 10.99% interest rate, down from 11.75%.
The NAB Standard Card and the NAB Gold both marked declines from 18.24% to 17.89%, a drop of 0.35%.
The NAB Visa Mini, NAB Qantas Platinum and NAB Qantas Gold all dropped 1% in their interest rates now sitting at 17.99%.
NAB's range of Velocity credit cards has almost benefitted from a drop in interest rates with the Velocity NAB Standard and the Velocity NAB Gold going from 18.99% to 17.99% while the Velocity NAB Business has declined from 18.00% to 17.00%.
Both MasterCard and Visa Credit Cards have teamed up with NAB in order to provide a variety of extras to credit card customers such as the Verified by Visa security program. The NAB Low Rate Visa Credit Card already offers excellent benefits besides its now low 10.99% interest rate. The credit card offers customers easy access, attractive format and great customer benefits with 0% per annum on balance transfers, up to 55 days interest free and worldwide access.
Additionally, NAB online credit card applications have a 60 second response after submission, which provides NAB customers with faster access to their low rate if 10.99%.
