How to apply online for a business credit card - NAB
Getting started with business credit cards
As a small business owner, a business credit card can be a valuable tool to help manage your business expenses. However, choosing and applying for the right credit card can be overwhelming, especially if you are new to the process. In this article, we will provide you with useful information to help you understand the eligibility requirements and online application process for a business credit card.
How the online application process works
The below simple steps outline the process from starting the application to getting a decision.
Choosing the right credit card for your business
When you select a business credit card, consider your business's unique needs and preferences. We offer a range of cards, including low-rate credit cards, rewards credit cards,and charge cards with added features such as insurance and concierge services.
Consider your everyday business expenses, and the business credit card benefits that interest you. It's also essential to review the interest rates, fees and charges of each card to find one that suits your business's financial situation.
Eligibility Checking your eligibility to apply online
Before applying for a business credit card, you must check you are eligible to apply. To apply online for a NAB business credit card, you must:
If you’re unsure if you are eligible to apply, speak to a NAB business banker or enquire online
Documents you need to apply online
The documents you may need to provide depend on whether you are an existing NAB customer or a new customer.
For all customers we may need your:
- business financial data supplied through accounting software such as XERO, MYOB or QuickBooks
- we may ask you for information on your current level of tax debt and repayment plans with the ATO and tax residency details
New customers
New customers may also need to provide business and personal details. In addition, if you are approved for your business credit card account, we will set you up with Internet Banking access to review and accept your contracts.
Existing NAB customers
When you apply online your business and personal information will be pre-filled, but you will need to confirm your details and provide any additional documents requested. To avoid delays in the process, when you apply, have all the necessary documents ready, as well as your NAB ID and password.
How we assess your business credit card application
We will assess your application based on several factors, including your credit history, business income and business information. If your application is approved online, you will be able to access your business credit card account as soon as you have reviewed, and accepted your application documents in NAB Internet Banking.
Consider how much credit you need
You can apply online for a credit limit of up to $50,000. If your business needs a higher credit limit, speak with a NAB business banker. The credit limit you need will depend on your monthly business expenses and size of your business.
How business credit card interest rates are calculated
Business credit cards can have different interest rates depending on the card type and how you use it. Some NAB cards offer interest-free days if you pay your balance in full by the due date. Understanding how interest is calculated can help you know what you’ll pay if you carry a balance.
When comparing cards, check these key rates:
- Purchase interest rate – charged on regular purchases.
- Cash advance rate – charged on ATM withdrawals or similar transactions, including gambling or gaming transactions.
Understand the business credit card fees and charges before applying
Before applying for a business credit card, it's essential to understand the fees and charges associated with the card. These fees can include an annual fee, late payment fee, and cash advance fee. All business credit card fees and charges are found in the Business Banking Fees and Charges Guide.
Check the card liability structure
NAB's business credit cards are business liability products; this means the business is liable to repay all transactions on the cards.
Don't want to apply online?
If you don’t meet our online application eligibility, don't have an accounting software package or don’t wish to apply online, you can call your NAB Business Banker contact us or request a call back. Make sure you have your required documents handy.
Explore our business credit cards
NAB Rewards Business Signature Card
Earn NAB Reward Points and redeem them at the NAB Rewards Store for a range of products and experiences.
NAB Qantas Business Signature Card
Maximise your Qantas Points and get more from your business credit card purchases.
NAB Low Rate Business Card
Our lowest rate business card offers 0% on purchases for the first 12 months and no annual card fee the first year.
NAB Business Card
This low cost business charge card helps you manage your employee business expenses.
Purchasing and corporate credit cards
Customised business cards that enable you to easily manage your cashflow and business expenses.
Get in touch
Contact us
Explore our business banking contact information and get support with a wide range of products, services and topics.
Visit a NAB branch
Our business bankers are located all around Australia.
Call back request
Let’s talk about business banking.
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