Bank of Queensland's Low Rate credit card offers all the utility of a Visa credit card (including Visa Paywave), as well as a low standard 13.49% p.a. purchase rate. If that wasn't good enough though, for a limited time the card also comes with a 0% balance transfer rate offer, for 18 months, which could help cardholders with existing debt pay it off faster and interest free. The balance transfer offer is available until 30 April 2024.
The usual 13.49% p.a. purchase rate and relatively low $55 annual fee justify this credit card's 'Low Rate' title, but the practicalities don't stop there.
If you're looking to move any existing credit card debt over to a better rate the 0% balance transfer offer for 18 months could be the answer. If you take up the balance transfer, be sure to pay it off in the interest free period, otherwise you will find yourself paying the high cash advance rate of 21.49% on the remaining balance. Your balance transfer must also not exceed 80% of your credit card limit.
Along with the 0% balance transfer offer, there's also a 0% purchase rate offer for the first twelve months (after which the purchase rate will revert back to 13.49% p.a.). Just keep in mind that if you are using the card to pay off an existing balance, it might not be a good idea to make any other purchases.
And although the Bank of Queensland Low Rate Visa offers 55 days interest-free on purchases, there is a sure fire way to make sure your balance is paid off by the deadline. Sign up for Easi-Pay and have your repayments automatically deducted straight from your everyday transaction account at the end of every month.
However, using the Bank of Queensland Low Rate Visa at the hole in the wall could leave a large hole in your pocket, with all cash advances charged at a high 21.49%.
Similarly, consider the 3.40% foreign exchange margin before using your Bank of Queensland Low Rate card to pay for goods when overseas or shopping online.
The Bank of Queensland Low Rate Visa is a great match for anyone with a practical head on their shoulders, offering all the benefits of a credit card with minimum risk of falling into a high interest debt trap.
If you take up the balance transfer offer be sure to keep your eye on the diary or you could find yourself paying the high 21.49% cash advance rate at the end of the 18 month intro period.
13.49% p.a. |
|
none |
|
0% p.a. for 18 months and then 21.49% p.a. |
|
yes |
|
21.49% p.a. |
|
55 |
$55.00 |
|
none |
|
none |
|
none |
|
$30.00 |
|
3.5%, min $3.50 |
|
3.40% |
|
$2.00 |
|
$7.00 |
|
$15.00 |
$30.00 |
|
2.0 |
|
4 |
|
none |
Apple Pay, Samsung Pay
I have dealt with BOQ for many years, whilst living in Brisbane, and overseas. I then found there is a local branch in Launceston, Tasmania and the staff continue to prove there is no problem in providing service of a friendly personal nature.
Read full reviewI have dealt with BOQ for many years, whilst living in Brisbane, and overseas. I then found there is a local branch in Launceston, Tasmania and the staff continue to prove there is no problem in providing service of a friendly personal nature.
I like my bank because they are trustworthy and super supportive of young ones.
Read full reviewI like my bank because they are trustworthy and super supportive of young ones.
Nice and good staff
Read full reviewNice and good staff
Great customer service
Read full reviewGreat customer service
Great credit card, poor statement and bill delivery. The fees are explained well and very manageable. I haven't received a bill or statement for a few months though.
Read full reviewGreat credit card, poor statement and bill delivery. The fees are explained well and very manageable. I haven't received a bill or statement for a few months though.
Low Rate Card
13.49% p.a.
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
$59 $0 in the first year
Platinum Edge Credit Card
23.99% p.a.
No current offer
$195 $0 in the first year
Membership Rewards
Platinum Visa Credit Card
19.99% p.a.
No current offer
$299
Qantas Frequent Flyer
Qantas Ultimate Card
23.99% p.a.
No current offer
$450
Qantas Frequent Flyer
Explorer Credit Card
23.99% p.a.
No current offer
$395
Membership Rewards
Velocity Platinum Card
23.99% p.a.
No current offer
$375
Velocity Frequent Flyer
Qantas Discovery Card
23.99% p.a.
No current offer
$0
Qantas Frequent Flyer
Qantas Ultimate Card
Qantas Frequent Flyer
$450
100,000
1.25 points up to 100,000 points/year, then
1 point uncapped
Platinum Visa Credit Card
Qantas Frequent Flyer
$299
50,000
1 point up to 20,000 points/month
Qantas Rewards Premium Card
Qantas Frequent Flyer
$250 $150 in the first year
70,000
0.66 points up to $3,000/month, then
0.33 points up to $6,000/month
Qantas Premium Card
Qantas Frequent Flyer
$249
20,000
1 point uncapped
Rewards Signature Card
NAB Rewards
$295 $145 in the first year
160,000
1.25 points uncapped
Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
Velocity Escape Card
Velocity Frequent Flyer
$0
No current offer
0.75 points uncapped
Qantas Rewards Signature Card
Qantas Frequent Flyer
$395 $295 in the first year
120,000
1 point up to $5,000/month, then
0.5 points up to $20,000/month
Low Rate Card
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
13.49% p.a.
$59 $0 in the first year
Premier Credit Card
0% p.a. for 6 months and then 22.24% p.a.
21.49% p.a.
$300 $150 in the subsequent years if you spend $48,000 on eligible purchases or cash advances in previous year., $150 in the first year
Citi Rewards Program
Blue Visa Credit Card
0% p.a. for 9 months and then 21.74% p.a.
0% p.a. for 9 months then 20.74% p.a.
$60
Q Rewards
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 24 months and then 20.99% p.a.
20.74% p.a.
$149 $0 in the first year
Velocity Frequent Flyer
More Mastercard
0% p.a. for 6 months and then 19.99% p.a. (1.00% balance transfer fee)
19.99% p.a.
$100
Bankwest More Rewards
Low Rate Card
13.49% p.a.
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
$59 $0 in the first year
Low Rate Credit Card
12.99% p.a.
0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)
$99
Low Rate Visa Credit Card
9.90% p.a.
No current offer
$59
Low Rate Credit Card
8.99% p.a.
0% p.a. for 6 months and then 8.99% p.a.
$59 $0 in the first year
Low Rate Credit Card
12.99% p.a.
0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)
$99
Low Rate Visa Credit Card
9.90% p.a.
No current offer
$59
Low Rate Credit Card
8.99% p.a.
0% p.a. for 6 months and then 8.99% p.a.
$59 $0 in the first year
Blue Visa Credit Card
0% p.a. for 9 months then 20.74% p.a.
0% p.a. for 9 months and then 21.74% p.a.
$60
Flex Card
0% p.a.
No current offer
$120 $10 monthly fee waived if the outstanding balance on the previous statement is paid in full by the due date.
StraightUp Card
n/a
No current offer
$240 $20/month - waived if no spend & no balance owing
n0w Credit Card
n/a
No current offer
$228 Monthly fee is waived if account has a $0 balance and if card isn't used during the calendar month.