Finance Breaking news NAB launches no-interest credit card last financial news
Breaking-Finance.Com - National Australia Bank is offering an alternative to third party buy now, pay later offerings with the launch of an interest-free credit card.
Breaking-Finance.Com - National Australia Bank is offering an alternative to third party buy now, pay later offerings with the launch of an interest-free credit card. The NAB StraightUp Card provides access to staged credit limits up to a maximum of $3000 for a flat monthly fee of between $10-$20. Customers don’t pay the monthly fee if the card is not used and there are no other fees or charges.NAB group executive, personal banking, Rachel Slade says the NAB StraightUp Card represents a completely new approach to credit.“Credit cards have not really evolved in recent years. But our customers’ needs and expectations are changing and we want to change with them,” she says.
.”She says that unlike Buy Now Pay Later services, NAB StraightUp Card offers a continuing line of credit, is available to use anywhere Visa is accepted, has no late payment fees, and allows customers to repay balances over a longer period of time. The card does, however, impose higher minimum repayments than standard credit cards and does not allow cash advances or gambling transactions.Customers who do not make the minimum payment will find their cards blocked by the bank. Customers can set up payment reminders using internet banking and will also receive SMS reminders three days out from their due date. “The NAB StraightUp Card’s range of features means it is the simplest credit card offering in the market," says Slade. "And with many safeguards in place it can really help customers take control of their spending.”
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