Existing cardholders: Find out what you need to know about the move to MyCard including important information about managing your account and helpful FAQs.

New applications: Applications for new MyCard credit cards are coming soon.

What’s the difference?

Debit cards draw money directly from your bank account as you spend. What you see is what you get, no surprises. It’s simple real-time budget control. If you prefer to only spend what you have and want to avoid debt, debit keeps things straightforward. Many debit cards have low or no fees, though some may charge monthly account, ATM usage or other fees depending on your bank.

Credit cards let you borrow money from your bank up to a set limit, with minimum repayments required to be made each month. Many cards offer interest-free periods on purchases, letting you spread out payments, or avoid paying interest on purchases as long as you pay in full and on time each month. Credit cards typically include annual fees, interest charges, and other fees depending on the card type, the types of transactions you do and how you manage repayments. 

Credit cards can also offer perks debit cards typically don’t: rewards programs (if you choose a rewards card),complimentary purchase insurance, and the chance to build credit history for future loans or mortgages so long as you make timely repayments on your credit card each month.

Which one suits your style?

Choosing between debit and credit is all about finding the right tool for the way you live, spend, and plan.

Prefer real-time control and zero interest risk?

Debit keeps spending simple. And if your debit card is linked to a savings account, you may also earn interest on your savings account balance.

Need breathing room and financial flexibility?

Credit gives you time between a purchase and your repayments. That can be helpful when bills stack up or when your cash flow isn’t perfectly predictable.

Building towards bigger goals?

Some credit cards offer perks that reward your loyalty. Think exclusive travel deals, luxury experiences, and personalised offers.

The best credit card works around you

Credit cards have many personalities. Each one serves different lives, different goals, different rhythms, which means the smartest choice is finding your fit.

Why choose MyCard Credit Cards?

From Simplicity’s* $0 annual fee to Prestige's* passport to more, each option unlocks benefits that could suit your needs. Furthermore, the MyCard App puts control at your fingertips. MyCard is your ticket to more.

For more information on MyCard credit card products, including minimum credit limits, interest rates, fees and charges click here.

Important information

Important information

The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate for your circumstances.

* Minimum credit limits, interest rates, fees and charges apply and are subject to change. Approval and credit limit is subject to our credit assessment criteria. Read our Credit Card Terms and Conditions (PDF, 470KB), opens in new window. Reward Points are earned and redeemed in accordance with the Terms and Conditions of the MyCard Rewards Program (PDF, 253KB), opens in new window. Target Market Determinations for our products are available here.

MyCard branded credit products are issued by National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”). Our/us/we means NAB.