BOQ Low Rate Visa Credit Card

Consolidate your credit card debt and save with no interest on balance transfers for 6 months.

The Bank of Queensland Low Rate Visa credit card is suited to people who want to manage existing debts and save on standard credit card costs. This card combines a promotional interest-free balance transfer with a competitive purchase rate and an annual fee of $55 p.a.

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0% p.a.

Balance transfer rate

for 6 months

13.49% p.a.

Purchase rate

$55 p.a.

Annual fee

55 days

Interest free period

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Details

Product NameBOQ Low Rate Visa Credit Card
Balance transfer rate0% p.a. for 6 months
Balance transfer revert rateCash Advance Rate (21.49% p.a.)
Balance transfer limit80% of available limit
Purchase rate13.49% p.a.
Annual fee$55
Interest-free periodUp to 55 days on purchases
Cash advance rate21.49% p.a.
Min credit limit$2,000
Max credit limit$20,000
Card typeVisa
Foreign currency conversion fee3.4%
Minimum income$25,000
Available to temporary residentsNo
Joint applicationNo

Pros

  • Balance transfer rate of 0% p.a. for 6 months, with no balance transfer fee
  • Low interest rate of 13.49% p.a. on purchases

Cons

  • Balance transfer reverts to the 21.49% p.a. cash advance rate after the promotional period
Bonus pointsN/A
Annual fee$55
Minimum monthly repayment2% of the closing balance or $30, whichever is greater
Late payment fee$30
Foreign currency conversion fee3.4%
Cash advance fee3.5% or $3.50, whichever is greater
Overseas cash advance fee2% of transaction amount or $4 (whichever is greater, capped at $30)
Additional cardholder fee$15
Number of additional cardholders4
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Review by


Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The Bank of Queensland Low Rate Visa offers a shorter interest-free balance transfer promotion compared to some of the other offers on the market right now. But as long as you can repay your balance before the interest applies, it could be a useful way to get your credit card debt under control relatively quickly.

How to apply

You can apply for the BOQ Low Rate Visa credit card online but you'll need to meet the following eligibility requirements and provide supporting documents to complete the application.

Eligibility criteria

  • Age. You must be at least 18 years old to apply.
  • Eligible balance transfer debt. If you're planning to transfer a balance to the BOQ Low Rate, you can transfer up to 80% of your approved credit limit from non-Citigroup credit cards, store cards or loans.

Card benefits

  • Balance transfer offer. Apply for the BOQ Low Rate Visa Card by 30 June 2021 and pay 0% p.a. interest on balance transfers for the first 6 months with no balance transfer fee. At the end of the promotional period, any remaining balance transfer debt will attract the cash advance rate, currently 21.49% p.a.
  • Low purchase interest rate. Your purchases will attract a 13.49% p.a. purchase interest rate.

Rates & fees

  • Low annual fee. This card charges an annual fee of $55 p.a.
  • Interest-free days. When you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days on purchases. Interest-free days do not apply while you carry debt from a balance transfer.

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26 Comments

    Default Gravatar
    Fiona
    June 12, 2017

    why dont BOQ offer low interest balance transfer on non boq credit cards after you had a card for years. Other banks always offering deals so why not BOQ.

      Avatarfinder Customer Care
      Dee
      June 13, 2017

      Hi Fiona,

      Thanks for your question.

      Unfortunately, as with most banks, you need to apply for a balance transfer at the time of credit card application to be eligible for the 0% offer. If you are an existing BOQ card holder, you may directly get in touch with your bank and inquire if they are able to give you a special rate.

      Alternatively, you may want to compare BOQ balance transfer cards and see which one would best meet your needs.

      I hope this helps.

      Cheers,
      Anndy

    Default Gravatar
    Doris
    September 25, 2013

    Can I just have 0% on purchases for 9 months and not transfer a balance from another credit card to qualify for the BoQ low rate visa card ?

      Avatarfinder Customer Care
      Jacob
      September 25, 2013

      Hi Doris,

      Thanks for your question.

      You do not have to transfer a balance to apply for a card. This card does not offer an interest-free purchase rate promotion.

      You can compare interest-free credit cards based on purchase rates, annual fees and balance transfer rates. You can press the “Go to Site” button of your preferred credit card to proceed with your application. You can also contact the provider if you have specific questions. A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

      I hope this helps,
      Jacob

    Default Gravatar
    yvonne
    September 9, 2013

    What is the best rate you can give on a balance transfer for 24 months?

      Avatarfinder Customer Care
      Jacob
      September 9, 2013

      Hi Yvonne,

      Thanks for your question.

      The BOQ Low Rate Visa Card offers balance transfers for the first 6 months with no balance transfer fee. If you are looking to compare this balance transfer offer against other credit card providers, you may refer to our comparison of balance transfer credit cards. You can select the “Go to Site” button of your preferred credit card to proceed with your application. You can also contact the provider if you have specific questions. A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

      I hope this helps.

      Cheers,
      Jacob

    Default Gravatar
    Colin
    June 25, 2013

    If the credit card I have at the moment through a different institution is provided by is also provided by Citigroup, will my application for this offer be considered, or will I be wasting my time?

      Avatarfinder Customer Care
      Jacob
      June 25, 2013

      Hi Colin,

      Citibank to Suncorp is fine. Please see our balance transfer criteria guide to know which banks you are able to transfer balance to and from.

      I hope this helps.

      Regards,
      Jacob

    Default Gravatar
    Sue
    June 25, 2013

    Can I apply for the BoQ card and transfer from my husband’s AMEX?

      Avatarfinder Customer Care
      Jacob
      June 25, 2013

      Hi sue,

      Great question.

      You may want to check our joint credit card guide to know more about your question.

      I hope this helps.

      Regards,
      Jacob

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