Rewards credit card

✅

Low interest credit card

✅

Low fee credit card

✅

No interest credit card

❎

Balance transfer

✅

International travel insurance

✅ (on Platinum card only)

BOQ Credit Card review

There are a few prerequisites to be eligible for a credit card with BOQ.

  • You’ll need to be at least 18 years old

  • Have a good credit rating

  • Earn a taxable income of at least $25,000

  • An Australian citizen or permanent resident

As part of your application, you might be asked to provide the following:

  • Income and expenses details

  • Drivers licence

  • Employment details

  • Balance transfer account details (if applicable)

Instalment plans

All of the below cards allow customers to break down their balance into monthly instalments. An instalment plan means customers can split their outstanding balance (minimum $500), or large eligible purchases, into more manageable instalments, at personalised fixed rates.

Say you purchase a new bed for $1,200 on your credit card. Instead of just having this amount outstanding on your balance, to be repaid before the interest free period expires, you could instead break this into smaller instalments, due each month, at a personalised fixed rate.

BOQ Low Rate Credit Card

The Low Rate credit card is BOQ’s ‘no frills’ offering. It has lower rates than the alternatives, and also offers a 0% p.a interest rate on balance transfers for 12 months.

Annual fee

$55

Balance transfer rate

0% p.a for 12 months

Interest free period

55 days (0 on balance transfers)

BOQ Blue Rewards Credit Card

The Blue card is one of two rewards cards on offer at BOQ. Customers earn 1 Q Rewards credit card point for every dollar spent, which can be exchanged for cashbacks, retail vouchers or even flybuys points. It also comes with complimentary cover for lost, stolen or damaged goods purchased, up to 90 days, as well as a guaranteed pricing scheme, whereby you can be refunded for purchases up to $500 if what you bought subsequently goes on sale.

Annual fee

$60

Balance transfer rate

0% p.a for 12 months

Interest free period

Up to 44 days

BOQ Platinum Rewards Credit Card

The platinum rewards card is the premium credit card offered by BOQ. $1 spent with the platinum card earns 2 Q Rewards points, double the rate of the Blue card, although the interest rate is inevitably higher.

Again, there is complimentary purchase cover up to 90 days, as well as guaranteed pricing up to $500. The Platinum card also includes complimentary travel insurance when your family is travelling, although limits and conditions do apply.

The minimum income threshold to be eligible for a Platinum rewards card goes up from $25,000 per year before tax to $35,000.

Annual fee

$129

Balance transfer rate

0% for 14 months

Interest free period

Up to 55 days