- 0% p.a. for 14 months on balance transfers requested at time of application
- Up to 55 days interest free on purchases
- $55 annual fee
- Emergency card replacement within 24 hours in Australia
- You can request automatic credit card repayments with Easi-Pay
- Visa Pay Wave
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ANZ Low Rate - $0 Annual Fee First Year
0% on balance transfer for 22 months
*1.5% balance transfer fee, $58 annual fee 2nd year onwards
Pros and cons
- Balance transfer rate reverts to the cash advance rate after intro period
Creditcard.com.au review
Editor Review
Bank of Queensland Low Rate Credit Card
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.
The Bank of Queensland Low Rate Credit Card
Offering one very appealing introductory offer, the Bank of Queensland Low Rate Visa Credit Card is currently providing 0% p.a. on balance transfers for 14 months. With a low ongoing purchase rate and a reasonable annual fee, this card is definitely a worthy option for cardholders looking for access to credit while keeping costs low.
What we love...
Bank of Queensland says, if only everything was as simple as its Low Rate Visa Credit Card. Sometimes simple is all you need – and if you’re searching for the simple life, this card could make that happen. As a low rate card, there are no rewards programs to figure out, and no extravagant features that you need to delve into the small print to get your head around.
As a basic, no frills card, it does exactly what you would expect. It offers a nice low rate that can help cardholders keep costs down. And, if you pay your balance by the due date each month, you could save even more with up to 55 days interest free on purchases. It’s worth bearing in mind that if you have a balance transfer on this card, there is no interest free period on purchases.
Balance transfer, you say? Yep, this card has a pretty sweet balance transfer deal going on right now. If you apply and are approved by 30 April 2020, you can take advantage of 0% p.a. on balance transfers for 14 months. That could give you more than a year to take a serious chunk out of your credit card debt, paying down your balance faster as you pay less in interest.
In terms of the essential info on this offer, you can transfer up to 80% of your available credit limit, from non-Citi issued cards. What is nice to note is that, unlike quite a few offers out there right now, you will pay no balance transfer fee. This can help you concentrate on simply paying off your balance, without adding extra fees that you will have to pay off alongside your balance.
What’s not so great...
One important feature to note on the balance transfer offer is the fact that any balance left unpaid at the end of the intro period will start to accrue interest at the card’s cash advance rate. The offer does give you a nice long time to pay your balance down, but if you are unable to clear your balance in time, you may look into doing another balance transfer to avoid that higher rate.
Be aware that you would need to meet eligibility criteria for this. Avoiding a cycle of balance transfers is generally best avoided.
Why should you choose this card?
With a relatively low minimum annual income requirement of $25,000, the Bank of Queensland Low Rate Visa Credit Card could be a great option for lower income earners with a good credit rating. As a low rate card, it could appeal to cardholders who tend to carry a balance, or anyone who simply wants to save money.
With that balance transfer deal, it would work well for cardholders who want to clear credit card debt, to then enjoy a decent low cost card ongoing. In terms of features, the card offers all the might of Visa, with worldwide access at merchants and ATMs, and Verified by Visa, FRAUDSHIELD and Visa Zero Liability providing added security.
Overall Rating
The Bank of Queensland Low Rate Visa Credit Card is a low rate card with an affordable annual fee, currently offering 0% p.a. on balance transfers for 14 months.
User reviews
Rates and fees
Interest rates
Purchase rate 13.49% p.a.
Cash advance rate 21.49% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 0% p.a. for 14 months
Balance transfer revert rate 21.49% p.a.
Balance transfer from personal loan No
Balance transfer fee No fee
Balance transfer limit 80% of approved credit limit
Banks you can't balance transfer from Bank of Queensland, Citi, Coles, IMB, Qantas Money, Suncorp, Virgin Money
Credit limits
Minimum credit limt $2,000
Maximum credit limit $20,000
Fees & repayments
Annual fee $55 p.a.
Additional card holder fee Up to 4 - $15 p.a. each
Foreign transaction fee 3.4%
Minimum repayment 2%
Cash advance fee 3.5%
Late payment fee $10
Additional features
Complimentary insurance
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Overview
Bank of Queensland Low Rate Credit Card
BOQ Low Rate Visa Special Offer, if you sign up today you will get 0% p.a. on balance transfers for 14 months plus enjoy a low rate on purchases, just 13.49% p.a. Cardholders can also benefit from up to 55 days interest free on purchases.
Key features
- 0% p.a. for 14 months on balance transfers requested at time of application
- Up to 55 days interest free on purchases
- $55 annual fee
- Emergency card replacement within 24 hours in Australia
- You can request automatic credit card repayments with Easi-Pay
- Visa Pay Wave
Minimum criteria to apply for this card
Be over 18 years old
Good Credit and have not applied for multiple credit cards recently
Resident or citizen of Australia
Minimum income of $25,000 p.a.
You have your personal details ready to complete the online application
Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.
Recently Asked Questions
Something you need to know about this card? Ask a our credit card expert a question.
Ask a question13 questions (showing the latest 10 Q&As)
i want to chech how much money i have on my BOQ credit card
Hi Alex, you can access through internet banking with BOQ. https://www.boq.com.au/personal/online-banking/internet-banking. If you are having difficulties. Then give Bank of Queensland Credit Card customer service a call on 1300 55 72 72
Currently using an ANZ visa monthly spend around $5k, just received my statement which included almost $400 in fees alone, I currently bank with you and are looking for a low cost/low fee credit card what would you suggest?
Hi Len, with Bank of Queensland, for the lowest fees and rates have a look at the Bank of Queensland Low Rate Credit Card. You don't need to be a customer of a bank to apply for a credit card. Therefore maybe a no annual fee credit card could suit? If you can use AMEX for a percentage of your 5k spend then the Qantas Discovery and the Velocity Escape earn great points with no annual fee.
Do you have a credit card for an age pensioner
Hi Cathy, BOQ do not see the pension as income for a credit card application. Therefore to apply for a BOQ card, you will need to have income from another source. The Big 4 are more accepting of pensioners as they tend to see it as income.
Can the card be used to transfer credit from overseas how much would this cost
Hi Tina, you can only transfer Australian credit card debt to an Australian balance transfer offer.
Hi, just wondering once balance transfer introductory period expires, would the rate reverts to purchase or cash rate ?
Hi Teji, with BOQ it reverts to the cash rate.
Can you get any credit card if your on new start allowance from center link
Hi Graham, that is not considered income with BOQ, therefore you would not be able to apply.
My credit file is clean other than bankruptcy which goes off file in 10 mths. Would I qualify for small limit credit card. I'm full time employed for last 4 years @$70,000 pa. Thankyou
Hi Dominic, its a long road to recovery from bankruptcy. There is no way that you could be approved whilst in bankruptcy. Once you are out, I would approach the bank where you get your pay deposited and see if they can assist.
Hi, can I balance transfer from a personal loan into this card?
Hi Anne, no you can transfer other credit cards or store cards though.
can pensioners apply and get the credit card?
Hi Jean-Marc, each application is generally assessed according to income requirements, so if your pension amount meets the minimum income requirement you may be able to apply for a credit card. Have a look at our post on credit cards for pensioners to find out more. If you want this Bank of Queensland card, you'd need to make sure your pension and any other income adds up to more than $25,000p.a to be eligible.
Can we do a joint application for this card which includes both mine and my wife's income
Hi Robert, there would only be one primary account holder, but either yourself or your wife could become an additional cardholder and you can request this at the time you make the application.
What is the maximum amount allowed to be transferred ?
Hi Glenn, on the Bank of Queensland Low Rate card you can transfer up to $16,000. This is 80% of the maximum credit limit of $20,000
The offer states that the rate after 9% changes from 0% interest to the current cash advance rate. Does this relate to any remaining funds that are still not paid off? Or does the 13.49% purchase rate apply to all funds purchased from the original transfer date? Thank you, Erin.
Hi Erin, the cash rate will apply to any of the balance transfer amount still not paid off. The purchase rate will apply to any thing purchased on the card and be charged separately. I hope that helps.
This card is underwritten by Citigroup. Is there any limitation on transferring balances to the BOQ card from existing Citibank credit card accounts?
Hi Andrew, there is. Your existing account must have been for more than 9 months with Citibank.
Adrian Collins
28 January 2013For a cheap card, this was a great option. After the intro period it has a low interest rate, plus I only pay half annual fee for the first year, and after that it is cheap anyway.
Recommends this card