Business
Major bank challenges BNPL with ‘cotton wool’ option – Yahoo Finance Australia
NAB’s new StraightUp Card is Australia’s first interest-free credit card.
National Australia Bank (NAB) has taken aim at buy now, pay later providers like Afterpay and Zip by launching the nations first no-interest credit card, a move which consumer advocates say is a step in the right direction.
The StraightUp Card doesnt charge interest fees, instead opting for a flat monthly fee depending on the users credit limit. For example, cards with a $1,000 limit will see customers charged a $10 monthly fee, which is included in the balance.
The monthly fee increased to $…
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