Credit Cards (AU)

Bank of Queensland Low Rate Credit Card review

Get the lowdown on the Bank of Queensland Low Rate Credit Card and see if it's a good fit for your wallet. Read our comprehensive review to make an informed decision.

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Bank of Queensland Low Rate Credit Card: Enjoy interest-free financing for 12 months!

Bank of Queensland Low Rate Credit Card
This is the BoQ Low Rate Credit Card. Source: The News Stacker.

The Bank of Queensland Low Rate Credit Card might be a perfect fit for your lifestyle if you are looking to save money while making day-to-day purchases.

Bank of Queensland Low Rate Credit Card

How to get the Bank of Queensland Low Rate card?

Discover how you can easily and quickly apply for a Bank of Queensland Low Rate Credit Card with this step-by-step guide!

  • Credit Score: You need at least a good rating to apply.
  • Annual Fee: Adding this card to your wallet will cost you $55 p.a.
  • Intro offer: There is no introductory rewards offer with this card. 
  • Rewards: There is no rewards program currently.
  • P.A.: 0% intro p.a. on purchases and balance transfers for the first 12 months with zero balance transfer fees. After that period, purchases have a 13.49% p.a., and BTs have a 21.49% p.a.
  • Other Fees: $3.50 or 3.5% cash advance fee, $15 annual fee for additional cards, $30 late payment fee.

This card serves as an accessible and efficient way for interest-free financing within a real Visa card. 

This is one of the best value for money offerings around in Australia, giving you access to some really great features.

You’ll have 0% p.a interest on balance transfers and purchases from account opening, and access to online banking services.

Below, we’ll review everything from costs through fees so you can find out if the Bank of Queensland Low Rate Credit Card is a suitable option for your unique needs. Read on for more!

Bank of Queensland Low Rate Credit Card: What can you expect?

The Bank of Queensland Low Rate offers all new members a chance of interest-free financing for 12 months.

With this card, you’ll get a 0% p.a. for a year on purchases and balance transfers – perfect for big purchases and to consolidate debt.

While this is not a rewards card and offers no points on purchases, you can still get special benefits from it.

With the Bank of Queensland Low Rate, you can break your purchases in monthly installments, and get up to 55 interest-free days on purchases as well.

All of that combined with a real Visa international coverage, security and fraud protection, and online banking options, amounts to $55 p.a. annual fee.

The application is free, and you can complete it in just under 10 minutes. 

Do the pros outweigh the cons?

Bank of Queensland Low Rate Credit Card
Read the pros and cons of owning this credit card in Australia. Source: Freepik.

With its low annual fee and competitive rate, the Bank of Queensland Low Rate Credit Card seems like a solid money-saving option.

But it’s important to look beyond the headline figures – there could be some hidden pitfalls to watch out for. See the pros and cons below.

Pros

  • Interest-free financing on purchases and BTs for the first 12 months of membership;
  • While there’s an annual fee, it’s low at only $55 p.a.;
  • Installment Plans can help you break big purchases to fit your budget.

Cons

  • You won’t find any rewards program with the Bank of Queensland Low Rate.

What are the eligibility requirements?

To qualify for the Bank of Queensland Low Rate, you must be at least 18 years of age with a good credit rating. You also need to earn at least $25,000 yearly, and be an Australian citizen or permanent resident. 

Learn how to request the Bank of Queensland Low Rate Credit Card

Applying for this credit card is as easy as using it and saving money. Check the following link to learn about the Bank of Queensland Low Rate Credit Card application process and request yours today!

Bank of Queensland Low Rate Credit Card

How to get the Bank of Queensland Low Rate card?

Discover how you can easily and quickly apply for a Bank of Queensland Low Rate Credit Card with this step-by-step guide!

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