Question:

What is an interest free period of NAB credit card?

by Guest22767012  |  8 years, 8 month(s) ago

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My friend told me that there is interest free period of National Australia Bank credit card. Please tell me that what is an interest free period of National Australia Bank credit card?

 Tags: card, credit, free, NAB, Period

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  1. Banking Expert
    This is a feature of some NAB credit cards which provides the opportunity to avoid paying interest on purchase transactions, by paying the account in full by the specified payment due date each month. If your card has an interest free period, no interest will be charged on a purchase if: • You pay the full closing balance by the payment due date for the statement on which the purchase is listed: and, • You have paid the closing balance of the previous statement by its payment due date. For example, the maximum interest free period for a NAB Low Rate Visa Card is 55 days – 30 days being the length of a normal statement period, and then 25 additional days between the last day of the statement period and the payment due date in which to pay the account in full to avoid purchase interest. Note that if you did not pay the closing balance on your previous statement in full by the payment due date, your current statement will include interest charges for the outstanding balance, as well as any new transactions made since the closing date on that statement.

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