BOQ Low Rate Visa Credit Card – Rates and Fees

Take advantage of a low annual fee and no interest on balance transfers for 14 months from the Bank of Queensland.

If you apply for the Bank of Queensland (BOQ) Low Rate Visa Credit Card, you can consolidate your high interest credit card debt for a zero interest offer and pay a low annual fee of $55.

These benefits along with a low rate for your purchases give you good reason to consider this one when looking at different credit cards.

Product NameBOQ Low Rate Visa Credit Card
Balance transfer rate0% p.a. for 14 months
Balance transfer revert rate
The interest rate that will apply to any remaining balance after the balance transfer term ends.
Cash Advance Rate (21.49% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)13.49% p.a.
Offer end date30 September 2019
Annual fee$55 p.a.
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
Up to 55 days on purchases
Cash advance rate (p.a.)21.49% p.a.
Min credit limit
This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
Max credit limit
This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. This credit limit may not be issued to you immediately upon application.
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.4% of transaction value
Complimentary Travel InsuranceNo
Minimum Income$25,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationNo
Annual fee$55 p.a.
Minimum Monthly Repayment2% or $30, whichever is greater
Late Payment Fee$30
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.4% of transaction value
Cash Advance Fee$3.50 per cash advance <$100 or 3.5% of the cash advance amount for $100 & over
Overseas Cash Advance Fee2% of the cash advance amount or minimum of $4
Gambling Transactions AllowedNo
Additional Cardholder Fee$15
Number of Additional Cardholders4


  • This card comes with a promotional balance transfer rate of 0% p.a. for the first 14 months, with no balance transfer fee.
  • Enjoy a low interest rate of 13.49% p.a. on purchases.
  • Get up to 55 interest-free days on purchases.


  • At the end of the balance transfer period, any unpaid balances will be charged at the cash advance rate instead of the lower purchase rate of interest like some other cards.

Benefits of using the BOQ Low Rate Visa Credit Card

As you look at a variety of credit cards with different banks, you’ll find that the benefits you get with the BOQ Low Rate Visa Credit Card will stand out:

  • Balance transfer offer. Sign up for the BOQ Low Rate Visa Card by 30 September 2019 and use up to 80% of your available balance to transfer high interest balances from your other credit cards. For the first 14 months, there will be no interest applied to those balances. Once the period ends, any remaining balance of your debt consolidation will be charged at the cash advance rate.
  • Low annual fee. A low annual fee of $55 applies for this card.
  • Interest-free days. There are up to 55 interest-free days on your purchases, but you will have to ensure that your balance is paid off in full with each statement to take advantage of that benefit.

Features of the BOQ Low Rate Visa Credit Card

When making credit card comparisons it is important that you look carefully at the standard features, as these are what will help you determine which card has the most value for your circumstance:

  • Interest rate. The purchase rate on this card is 13.49% p.a. while the interest charged for cash advances will be at 21.49% p.a.
  • Credit limit. Depending on your personal income and other financial circumstances, the credit limit assigned to you will range between $2,000 and $20,000.
  • Additional card. A card is allowed for a family member, but you will be charged an additional $15 p.a.
  • International transaction fee. When a transaction is made in a foreign currency, you will be charged 3.4% of the Australian dollar amount.
  • Cash advance fee. When you make a cash advance using your credit card inside of Australia, you will be charged $3.50 for transactions under $100 or 3.5% for those $100 and over. For those made internationally, you will be charged 2% of the cash advance amount or minimum of $4. The money will be deducted from your account on the transaction date, and the maximum fee allowed is $30.

How to apply for the BOQ Low Rate Visa Credit Card

You can apply for the BOQ Low Rate Visa Credit Card by completing the secure online application. The Bank of Queensland will have some eligibility requirements you will have to meet in order for your application to be accepted.

Eligibility criteria

  • Applicants who are at least 18 years of age will be the only ones considered for this card.
  • You will need to have an established good credit history to be eligible for the low rate card.
  • An applicant's annual income must be at least $25,000 a year before approving your application.
  • You must be a permanent resident of Australia.

Required documents

  • Your driver’s licence number, passport or other identifying documents
  • The full name and contact information for your current employer
  • Recent pay slips or current tax forms which can be used to help prove your income
  • A detailed list of all of your monthly expenses, including other credit card debt and your monthly living expenses
  • If you plan to consolidate your debt with the current balance transfer offer, you will need to provide the details of your other accounts while applying.

Australians looking for a simple way to make daily purchases and get the benefit of debt consolidation should look at the benefits and features of the BOQ Low Rate Visa card closely. With a competitive purchase interest rate and low yearly fee, you might find that it suits your lifestyle perfectly.

Frequently asked questions

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26 Responses

  1. Default Gravatar
    FionaJune 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.

    • finder Customer Care
      LouJune 13, 2017Staff

      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 compare BOQ balance transfer cards on this page.


  2. Default Gravatar
    DorisSeptember 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 ?

    • finder Customer Care
      JacobSeptember 25, 2013Staff

      Hi Doris.

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

      You can compare cards that do on this page.


  3. Default Gravatar
    yvonneSeptember 9, 2013

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

    • finder Customer Care
      JacobSeptember 9, 2013Staff

      Hi Yvonne.

      Thanks for your question.

      You can find the applicable balance transfer rate in the product table at the top of the card’s review page.

      If you’re looking to compare this balance transfer offer against other offers from different providers, please have a look at this page.

      You can click the table headings on the comparison table to arrange the cards from highest to lowest and vice versa. Please use this function to arrange balance transfer offers within the table. You may also be interested in having a look at our balance transfer calculator. You can run the figures through the calculator to find out the savings.


  4. Default Gravatar
    ColinJune 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?

  5. Default Gravatar
    SueJune 25, 2013

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

  6. Default Gravatar
    RachelJune 17, 2013

    What do I do if my bank isn’t in your drop down list for balance transfers? I want a balance transfer on this card from Police Association Credit Co-Operative Ltd. They are now known as BankVic. Many Thanks :)

    • finder Customer Care
      JacobJune 17, 2013Staff

      Hi Rachel. Thanks for your question. If the online application doesn’t give you the option to select ‘other’ when you get the section where you pick the institution you want to transfer a balance from, you may have to apply for this card either over the phone or in person. Sorry I couldn’t of better help. Jacob.

  7. Default Gravatar
    ErinJune 13, 2013

    Hi I want to balance transfer $12500, how much credit limit will I need to apply for to have the 0% applied? Thanks

    • finder Customer Care
      JacobJune 13, 2013Staff

      Hi Erin. Thanks for your question. Bank of Queensland (BoQ) will allow you to transfer up to 80% of your approved credit limit on your new BoQ card. For information on this topic, please see this page. If you would like to transfer $12,500, you will need to be approved for a limit of $16,000 or more. Hope this helps. Jacob.

  8. Default Gravatar
    ChristineMay 27, 2013

    Can you advise if this BoQ card offer includes an overdraft balance transfer – or is it just credit cards? if not, do any of the credit card providers allow a balance transfer for an overdraft?

    • finder Customer Care
      JacobMay 27, 2013Staff

      Hi Christine. The rule for a balance transfer are all institutions (except Citibank and Virgin) state that balance transfers are only accepted from other institutions store cards, charge cards or credit cards. Citibank and Virgin allow you to transfer the balance from a line of credit or personal loan too. They are a good place to look if you’re looking to transfer from an overdraft to a credit card. Jacob.

  9. Default Gravatar
    AndreaOctober 9, 2012

    What does the balance transfer interest revert to when the 1.9% for 6 months is over?

    • finder Customer Care
      JacobJanuary 8, 2013Staff

      Hi Andrea. Thanks for your question. At the end of the balance transfer period, the interest rate will revert to the cash advance rate of interest. Cheers.

  10. Default Gravatar
    MichaelMarch 26, 2012

    after waiting 20 minutes on 2 occasions today to activate my visa card my ph credit has run out. Can l activate my card on line here please ,your ph app is pathetic?

    • finder Customer Care
      JacobApril 4, 2013Staff

      Hi Michael. Thanks for your question. Waiting time can be an irksome issue sometimes. You have to activate the card over the phone or in branch. Sorry for the late reply. Hope you’ve had better luck second time around. Jacob.

Credit Cards Comparison

Rates last updated April 18th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Earn 20,000 bonus Velocity Points and save with an ongoing $50 p.a. annual fee. Plus, receive a $129 Virgin Australia Gift Voucher each year.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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