Balance Transfer0% p.a. on balance transfers for the first 18 months.
- Last updated on 07 Aug 2020
Balance Transfer Rate
for 18 months then 21.74%
Max Free Days
- Balance Transfers Available
- Purchase protection insurance
- Price guarantee
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Balance Transfer Rate
Balance Transfer Rate
for 18 months then 21.74%
of the approved credit limit
Balance Transfer Fee
Foreign Exchange Fee
3.4% on Visa
Estimated ATM Cost
for AU $300 withdrawal
BOQ Q Rewards
Gift Card, Cash Back
|1 point for $1 spent||Visa||uncapped||eligible transactions|
- PURCHASE PROTECTION INSURANCE
- PRICE GUARANTEE
- Balance Transfer 0% p.a. on balance transfers for the first 18 months.Total balance transfers may not exceed 80% of your credit limit. The 0% p.a. interest rate applies to balances transferred with this offer, for a period of 6 months. The 6 month promotional period commences once the balance transfer is processed. At the end of the balance transfer period, the interest rate on any outstanding transferred balance will revert to the variable Annual Percentage Rate for Cash Advances, currently 21.74% p.a. Please note you are not entitled to any interest free days whilst you have a balance transfer.
Compare and review credit cards with similar features
Bank of Queensland, also known as BOQ, is one of Australia’s leading regional banks and has more than 190 branches throughout the country.
BOQ provides a limited range of credit cards along with finance products such as bank accounts, personal loans and home loans, among others.
Customers can manage their credit card accounts through the BOQ website and mobile app. Customer support is also available through the bank’s 24-hour phone support line, via email or by visiting a branch.
The Bank of Queensland Blue Visa credit card has a moderately low annual fee with high interest rates and a moderately low number of interest-free days. The card has an associated reward scheme that awards points to be redeemed for gifts, merchandise and travel.
This card employs the Q Rewards program to reward customers for the eligible purchases they make on their Bank of Queensland Blue Visa card. Card holders earn 1 reward point for every $1 spent on eligible transactions. These points can then be redeemed for a range of rewards such as electronics, gift cards or travel perks.
The Bank of Queensland Blue Visa card comes with purchase cover insurance that will refund you for personal items that become lost, stolen or damaged within 90 days of purchase.
- Earn Q Reward Points
- Free purchase cover insurance
- Moderately low annual fee
- High interest rates
- Moderately low interest-free days
- Charge for additional card holders
Who is it good for?
The Bank of Queensland Blue Visa credit card is good for existing Bank of Queensland customers looking to keep all of their finances under one roof. Because of the high interest rates, this card may also be reasonable for card holders who typically pay their bill in full each month.
For customers who do not already bank with the Bank of Queensland, this credit card offers few advantages. While card holders will earn points that can be redeemed for a variety of products and perks, many customers will be able to find a comparable rewards scheme with their current bank.
The Bank of Queensland Blue Visa card may not be a good fit for budget customers. Though the annual fee for this card is reasonable, it is not waived in the first year, and you’ll be charged an extra annual fee for additional card holders.
What RateCity says
While this card is a sensible reward card for existing Bank of Queensland customers, this card offers little advantage to those do not already use the Bank of Queensland. Those who do not currently use the Bank of Queensland and want to keep all of their cards under one roof may be able to find a reasonable rewards credit card with their current bank.
The Bank of Queensland Blue Visa has a moderately low annual fee, but it doesn’t necessarily make up for its high interest rate and moderately low interest-free days. Budget card holders may be better off with a no-fee card that offers lower interest rates, particularly if they tend to pay only part of their bill each month. If you’re searching for a rewards card that earns a high rate, you may benefit from a card that waives its annual fee in the first year.
In order to be eligible for the Bank of Queensland Blue Visa card, you must be at least 18 years of age and have a good credit rating. You must earn an annual income of $25,000 or more. Only Australian citizens and Australian permanent residents are eligible for this card. Customers can apply over the phone or online. Bank of Queensland’s secure online application can be saved and completed at a later date.
About Bank of Queensland
Bank of Queensland is one of Australia’s leading regional banks, with 190 branches spread across the country. Bank of Queensland offers an array of personal and business banking solutions, including bank accounts, term deposits, credit cards, loans, insurance and investments. Founded in 1874, Bank of Queensland is in the top 100 Australian companies. Bank of Queensland operates several different brands including Virgin Money Australia, BOQ Finance, BOQ Specialist and St. Andrew’s Insurance.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A credit card can be a useful financial tool, provided you understand the risks and can meet repayment obligations.
If you’re a credit card first-timer, review your options. Think about what kind of credit card would suit your lifestyle, and compare providers by fees, perks and repayments.
Once you’ve selected a card, it’s time to apply. Credit card applications can generally be completed in store, online or over the phone.
When you apply for a credit card for the first time, you must meet age, residency and income requirements. As proof, you must also provide documentation such as bank account statements.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
Think of credit cards as a short-term loan where you use the bank’s money to buy something up front and then pay for it later. Unlike a debit card which uses your own money to pay, a credit card essentially borrows the bank’s money to fund the purchase. When you apply for a credit card, the bank assesses your income and assigns you a credit limit based on what you can afford to pay back. At the end of each billing cycle, which is usually monthly, the bank will send you a statement showing the minimum amount you have to pay back, including any interest payable on the balance.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.
Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.
Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.