Queensland Teachers Mutual Bank Credit Card

Pay 0% p.a. interest for up to 14 months on balance transfers and enjoy a host of rewards with the QT Mutual Bank Platinum Mastercard.

QT Mutual Bank offers a Platinum Mastercard that is all about you and what you want. The card has an impressive rewards program and helps you save money with a discounted annual fee and 0% p.a. interest on balance transfers. The more you use your credit card, the more you are rewarded.

If you’re after a simple credit card with less rewards, QT Mutual Bank also offers a Low Rate Mastercard. The Low Rate card attracts a competitive interest rate, a lifetime annual fee of $49 and 0% p.a. interest on balance transfers.

Product NameQT Mutual Bank Platinum Rewards Mastercard
Rewards ProgramCard Services Rewards Program
Balance transfer rate (p.a.)0% p.a. for 14 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)20.24% p.a.
Offer end date31 January 2018
Annual fee$99 p.a. annual fee for the first year ($129 p.a. thereafter)
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$30,000
Minimum Monthly Repayment2% or $30 whichever is greater
Minimum Income$35,000
Card TypeMastercard
Late Payment Fee$10
Complimentary Travel InsuranceYes
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$35,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$30,000
Annual Fee$99 p.a. annual fee for the first year ($129 p.a. thereafter)
Minimum Repayment2% or $30 whichever is greater
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee$3.50 (or 3.50% of amount when >= $100) for each cash advance
Overseas Cash Advance Fee$5
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
MailYes
Rewards ProgramCard Services Rewards Program
Bonus Points on Sign-up20,000
Rewards Points per $ (VISA/MC)1
Points ExpiryNever

Things to consider about the QT Mutual Bank Platinum Mastercard

The QT Mutual Bank Platinum Mastercard offers an array of benefits to cardholders. Along with a discounted annual fee in the first year, 0% p.a. interest on balance transfers and a range of rewards, it also features a guaranteed price scheme. You can potentially add additional cardholders for extra convenience, while complimentary insurance policies offer peace of mind. With a range of rewards available including cashback, shopping vouchers, flights and electronic items, the Platinum Mastercard aims to reward you every time you spend.

Features of the QT Mutual Bank Platinum Mastercard

  • Annual fee. The card attracts an annual fee of $99 in the first year, then $129 p.a. thereafter.
  • Balance transfer rate. Receive a 0% p.a. interest rate on balance transfers for up to 14 months. After this period the balance transfer rate will revert back to 21.74% p.a.
  • Interest rate. The card has a competitive interest rate of 20.24% p.a. on purchases.
  • Interest-free days. With this credit card you will receive up to 55 interest-free days, giving you the opportunity to pay off your balance in full without having to pay additional interest.
  • Rewards program. The Platinum Mastercard features a rewards program that lets you receive 1 reward points for every dollar you spend on your card. The reward points also have no expiry date.
  • 24/7 concierge. A 24/7 concierge service is available to assist you with anything from organising gifts to locating restaurants.
  • Security. The Mastercard features a secure chip which protects your details and data. It can also protect you against fraud.

Complimentary insurance policies

  • Purchase cover insurance. Receive complimentary purchase cover insurance with the Platinum Mastercard. This insurance covers loss, theft or accidental damage to a range of personal goods that were purchased on your Platinum Mastercard for a three-month period. Please note an excess applies to claims on this policy.
  • Interstate flight inconvenience insurance. The Platinum Mastercard also comes with complimentary interstate flight inconvenience cover. This protects you against any domestic flight inconvenience and covers cancellations, rental vehicle excess and more. This is perfect for those who frequently travel interstate for business.
  • International flight inconvenience insurance. Complimentary international flight inconvenience insurance is also offered for international flights and covers flight cancellations and delays, medical expenses and loss or theft of property.

How to apply for the QT Mutual Bank Platinum Mastercard

Once you’ve read through all the information above and determined that this card is right for you, you could begin the application process. Allow some time to fill out your application form and if you have any questions or problems, phone QT Mutual Bank or drop into your local branch.

Eligibility criteria

Before you proceed any further with your application, you must ensure you meet the following eligibility requirements. You must:

  • Be 18 years or over
  • Be a permanent Australian resident
  • Have a good credit rating

Required documents

If you meet these requirements you can then proceed with your application. Please ensure you have the following documents and information ready to complete your application:

  • Australian driver’s licence
  • Medicare card
  • Proof of income
  • Financial institution details
  • Your accountant’s details
  • Details of your employment
  • Monthly expenses

If you want access to a host of rewards and features like complimentary insurance cover and 0% p.a. interest on balance transfers, apply for the QT Mutual Bank Platinum Mastercard today.

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