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Compare RACQ Credit Cards

Get a low ongoing interest rate for purchases or earn rewards for your spending with one of these RACQ credit cards.

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RACQ Credit Cards offers two different products to suit different spending foals. The Low Rate card is designed to help you save on interest costs, while the Platinum Rewards card offers you points per $1 spent, complimentary travel insurance and other perks.

The RACQ Bank brand was launched in September 2017, following a merger between the RACQ (Royal Automobile Club of Queensland) and QT Mutual Bank. It also offers other products including insurance, loans and savings accounts.

Compare RACQ Bank Credit Cards

Updated April 5th, 2020
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
RACQ Low Rate Credit Card
12.99% p.a.
0% p.a. for 12 months
$49 p.a.
Save with 12.99% p.a. on purchases. Plus, enjoy a long-term balance transfer offer.
RACQ Platinum Rewards Credit Card
20.24% p.a.
0% p.a. for 14 months
$129 p.a.
Receive up to 55 days interest-free on purchases plus earn rewards points on your spending.

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What types of credit cards does RACQ Bank offer?

RACQ Bank gives you the choice of a card with a low standard variable interest rate for purchases or a card that earns rewards and offers platinum perks. These cards are offered in partnership with Card Services, which is a division of Citigroup Pty Ltd (the parent company of Citi). You can learn more about each card below.

  • Low rate credit card

The RACQ Bank Low Rate Credit Card offers a competitive interest rate of 12.99% p.a. on purchases. It also charges a competitive annual fee of $49 p.a. and offers up to 55 interest-free days if you pay your balance in full by the statement due date. Cardholders can take advantage of complimentary purchase insurance that covers against theft, loss or damage of eligible purchases you make with the card both in Australia and overseas.

  • Platinum credit card

You can use the RACQ Platinum Rewards Credit Card to earn points on eligible transactions. You can redeem your points for rewards including travel, frequent flyer points, merchandise and gift cards through the Card Services Rewards Program. This card also offers complimentary international travel insurance, interstate flight inconvenience insurance and purchase cover insurance, as well as a 24/7 concierge service.

The benefits of an RACQ Bank credit card

Getting an RACQ credit card gives you access to the following features and benefits:

  • Interest-free days on purchases

Both RACQ credit cards offer up to 55 days interest-free on purchases when you have paid off your account balance in full for at least two statement periods. This gives you a way to make purchases and save on interest charges.

  • Complimentary insurance

The RACQ Platinum Rewards offers complimentary international travel insurance, interstate flight inconvenience insurance and purchase cover insurance to help give you peace of mind on eligible trips and purchases made with your card. The RACQ Low Rate also offers purchase cover insurance for eligible items you buy with your card. As with any insurance cover, terms and conditions apply, so refer to the insurance booklet available via the RACQ Bank website for full details.

  • RACQ member benefits

When you get an RACQ Bank credit card, you also become a member of RACQ. This means you can access a range of other member benefits, including motoring advice, discounted movie tickets in Queensland and seasonal entertainment offers.

  • Mastercard benefits

Get access to exclusive travel, shopping and lifestyle offers through the Mastercard Priceless Cities program. Plus, enjoy the convenience of contactless payments with Mastercard PayPass.

How to apply for an RACQ Bank credit card

You can apply for an RACQ credit card online in around five minutes and should get a response by email shortly after that. Before you get started, make sure you’re eligible to apply and have all the relevant documents and details on hand.


  • Are you over 18? You must be at least 18 years old to apply for a credit card.
  • Do you meet the income requirements? For the RACQ Low Rate, you must earn at least $25,000 per year. For the RACQ Platinum Rewards, you need a minimum annual income of $35,000.
  • Do you have a good credit rating? You need a good credit rating to apply for an RACQ credit card.

Documents and details

  • Personal details. This includes your full name, date of birth, residential address, email address and contact number. You also need a valid form of ID, such as your driver’s licence.
  • Employment details. You need to share details of your job title, salary and your employer’s name and contact details. You may also need to provide recent payslips to verify your income.
  • Financial details. Share details of any other assets, such as savings or investments, as well as existing debts and any loans. You also need to give details of your regular expenses, such as rent or mortgage payments, groceries, petrol and bills.

After submitting your completed credit card application, RACQ Bank will assess it and send you a response by email. If you’re approved, you should receive your new credit card within 10 business days.

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Credit Cards Comparison

Updated April 5th, 2020
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
Coles No Annual Fee Mastercard
19.99% p.a.
0% p.a. for 18 months with 1.5% balance transfer fee
$0 p.a.
Earn flybuys points for your spending and save with an ongoing $0 annual fee and 0% p.a. on balance transfers for 18 months.
Qantas American Express Ultimate Card
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$450 p.a.
Get 100,000 bonus Qantas Points, a $450 Qantas Travel Credit and 2 yearly complimentary Qantas Club lounge invitations. Ends 14 Apr 2020.
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Bendigo Bank Low Rate Mastercard
11.99% p.a.
0% p.a. for 18 months with 2% balance transfer fee
$45 p.a.
A no-frills credit card with a competitive annual fee and 0% p.a. interest rate on balance transfers for the first 18 months.

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* 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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