I utilise the BOQ Platinum CC alongside our mortgage offset which is bundled with our BOQ home loan. In utilising an offset for our home loan and a CC for monthly expenses this allows our account balance for the offset to remain high for longer. We’ve saved about an extra $40-$50 on interest a month. We also pay no yearly fee as while you have a mortgage you have $0 yearly fees for the card. Our monthly expenses are several thousand after utilities, groceries etc. So, we have CC debt debited automatically and then we don’t get any late fees either. This strategy may not work well for those on lower incomes but works well for a medium household income. Other than that the inclusions on this card like purchase protection, rewards and insurance for travel are beneficial.
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.
All their online apps etc never work properly, well behind the times and you don’t see transactions until days after. The app always cuts out and goes blank.
Since inception, this bank has proved time and time again how flexible they are to our personal needs, right across their many and varied services, that represent our ongoing financial commitment to them.
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**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.
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