Business
NAB hits back at Afterpay with a no interest credit card – The Australian Financial Review
In an attempt to attract Millennials considering buy now, pay later options, NAB created a world-first credit card that charges a monthly fee but no interest.
NAB’s offering is different to Afterpay in several ways. It allows customers to repay balances over a longer period of time. It does not charge late fees and it does not charge any merchant fees to the retailer. It will only be offered after “responsible lending” checks are conducted, in the same way that NAB does for credit cards. It can be used anywhere Visa is accepted.
For a $1000 credit limit, customers will be required to pay $35 a month towards the balance, including a $10 monthly fee. F…
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