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% purchase rate, available for the first 6 months. Not to mention the 0% balance transfer rate offer, also for 6 months, which could help cardholders with existing debt pay it off faster and interest free (offer ends 31 January 2022).
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 6 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 six 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. To be eligible for both of these offers, you must apply for the the card by 31 January 2022.
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 6 month intro period.
| 13.49% p.a. | |
| 0% p.a. for 6 months | |
| 0% p.a. for 6 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.
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