BOQ Blue Visa Credit Card

My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
Earn points on the Q Rewards program.
Guaranteed pricing scheme for your purchases.
Up to 44 days on purchases.
Add to comparison
Q Rewards
Q Rewards
-
-
 
in 12 mths (approx.)
Similar cards

Pros & cons

What's good?

What's not so good?

Earn 1 pt per $1 spent with Q Rewards. And because it’s Visa, you can use it practically anywhere cards are accepted.
Transfer credit card debt and get 6 months at 0% p.a.
Add up to 4 additional cardholders to your account to maximise rewards potential.
Low cost annual fee.
Balance transfers revert to the 21.74% p.a. cash advance rate.
At $10,000, the maximum credit limit could inhibit big spenders from their full rewards earning potential.
It costs $15 p.a. for every additional card added to the account.

Our review

Our review of the BOQ Blue Visa Credit CardReviewed by Yvonne Taylor

You don’t need to live in Queensland or be a Bank of Queensland customer in order to enjoy the benefits of the BOQ Blue Visa Credit Card. As long as you are prepared to handle your account exclusively on the internet (and who isn’t, these days?) you can enjoy all the advantages of a customer-service oriented smaller bank (around 250 branches but 3,500 ATMs) and live anywhere in Australia. The bank’s motto – “It’s possible to love a bank” – indicates that they are at least aiming at a different banking experience, but the credit card is actually issued by the financial giant Citigroup.

Low annual fee

Bearing in mind that this card comes with a rewards program and a couple of complimentary insurance policies, the annual fee of $60 p.a. is extremely reasonable. The effect of this is somewhat tarnished by the $15 p.a. fee for each supplementary card issued on the account (you can have up to four), but if you only want one card it’s very cheap for what you get.

6 months balance transfer at 0% p.a..

With an interest-free balance transfer on offer, it can’t hurt to try out this card and either reduce your interest cost or earn a little interest on the side. If you’ve run up balances on other issuers’ cards you can transfer them to the BOQ card (up to an amount equal to 80% of your approved credit limit) and pay no interest at all for 6 months. If you qualified for the maximum credit limit of $10,000 you would be able transfer $8,000 from a card with an interest rate of, say, 20% p.a., and save yourself $800. Alternatively, if you already had $8,000 in cash to pay off your balance, you could put it in your 5% mortgage offset account for six months and reduce your interest bill by $200.

After the introductory interest-free six months has expired, the interest rate payable reverts to the cash advance interest rate of 21.74% p.a.. This sits near the top end of the credit card interest scale, so try to avoid taking up a balance transfer that you can’t repay, unless you have run out of all other options.

Fairly high standard interest rates

As already indicated, there’s nothing attractive about the interest rates attached to this card: 20.74% p.a. for purchases and 21.74% p.a. for cash advances. There’s also a high 3.50% one-off fee charged on all cash advances in Australia, which means that if you draw $1,000 you will owe $1,035, on which you’re going to be paying interest immediately. In fact, $1,000 is the daily cash advance limit via ATMs. So the Bank of Queensland aren’t exactly rolling out the red carpet to encourage borrowing.

High foreign exchange fee

The 3.4% foreign currency exchange fee, again at the high end compared with other cards, is perhaps going to make you think twice about using it for online purchases from overseas merchants. Oddly, though, the overseas cash advance fee of 2% is lower than the domestic one, possibly because 2% + 3.4% currency conversion already adds up to a blistering 5.4%. It might be wise to use another card for your foreign currency withdrawals.

Up to 44 days on purchases

Many credit cards offer up to 55 interest-free days on purchases each month, allowing cardholders to buy goods without having to pay for them until the end of the monthly statement cycle, with an additional grace period of 25 days before payment is due. But low-fee cards like this one typically cut that grace period to 14 days, meaning that the maximum number of monthly interest-free days is 44. That 11-day reduction means you will have to come up with the cash a total of 132 (i.e. 12 × 11) days earlier each year. If your average month-end balance is $2,000 and you’re making payments from a 5% mortgage offset account, that’s going to reduce your interest saving by about $36 per year.

Redeeming Q Rewards points

There’s no shortage of ways to use your Q Rewards points:

  • Shopping cards to use at Target, Bunnings, Myer, Coles or Woolworths, in $20, $25, $50 and $100 denominations
  • A range of merchandise including, toys, travel goods, homewares, technology, beauty, clothing, and more
  • Donations to charity
  • Pay your primary or supplementary card annual fee
  • Get a cash credit to any BOQ account, including your credit card account
  • A range of hotel accommodation and holiday packages
  • Car hire
  • Flights on most major airlines, using the ‘Take Flight’ cashback system, meaning that you are not restricted to the very limited range of award flights accessed by many competing frequent flyer programs

Further Q Rewards program benefits

The Bank of Queensland seem determined to make their rewards program attractive and easy to use. You can view a short but informative demo video of how the program works. A Fast Track redemption option allows you to use your card to pay in cash for the balance of any reward you like the look of, but for which you don’t have quite enough points. There are also occasional competitions, to win prizes and extra points.

Complimentary insurance policies

Restricted by the low annual fee, this card can’t provide overseas travel insurance or even extended warranty cover, but there are two useful complimentary policies:

  • Purchase protection insurance on personal items lost, stolen or damaged within 90 days of purchase with the card. It includes cover on items bought overseas, unlike some credit card policies. You must make a claim within 21 days of the loss or damage occurring. There’s a $1,000 claim limit for jewellery, watches and fine arts, and a generous claim limit of $50,000 per year for all items.
  • A ‘Guaranteed Pricing Scheme’, allowing you to receive a refund of up to $500 when an eligible store-bought item (i.e. not an online purchase) goes on sale and is advertised in a store catalogue within a 25 kilometre radius of the original purchase point. Cover lasts for 60 days after your purchase, and the price difference must be more than $75.

Security and convenience

There are more extras which make the card easy and safe to use:

  • The Bank of Queensland uses the Fraudshield system to monitor your credit card transactions and promptly inform you of anything irregular or suspicious-looking.
  • Lost or stolen cards will be replaced anywhere in the world within 48 hours, according to the bank’s website.
  • Set up automatic credit card repayments with optional Easi-Pay, to avoid accidentally missing a payment and paying unnecessary interest.
  • Use Visa payWave for contactless purchases under $100.

Budget conscious choice

The BOQ Blue Visa Credit Card is an economical option for anyone who wants a rewards program with a bit of insurance cover thrown in for good measure. Big spenders might find the $10,000 maximum credit limit rather restrictive, and the hefty foreign currency transaction fee may deter overseas travellers and online shoppers, but it’s still an inexpensive card which ticks a lot of boxes.

User reviews

4.2 out of 5.0 based on 5 reviews100% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Rewards add up pretty quickly

Reviewed and recommended by Deb on 13 Jul 2016

It is easy to apply by going into a branch or by calling, because there aren’t too many branches out there. I use my points all the time to get shopping vouchers, which is pretty handy. It is easy to pay off as well. The credit card probably doesn’t have the best interest rate though.

I love Bank Of Queensland

Reviewed and recommended by Christina on 10 Sep 2013

They have great rates and are always willing to help anyway they can. They were very quick to approve me and it doesn’t send me broke paying interest. I always get a person to talk to and they are very helpful. I have recommended Bank of Qld to anyone who has asked me which bank to switch to.

The card I trust

Reviewed and recommended by Colin on 12 Aug 2013

When I received this card it was like others until I lost my cards, went into the bank they immediately had me ready to receive another card and ensured that savings card lost immediately replaced. I travel overseas I the statements are accurate and easy to follow where I shopped.

Quite happy with this card and rewards offered

Reviewed and recommended by Kristmas on 23 Jul 2013

We have this card in case of emergency. It gets used for Internet purchases, which comes in handy as I use it for my partner’s work. It is handy when away from home and need that little bit of extra money to fall back on. It is useful to pay for hotel and motel rooms when you need to pay ahead.

Super easy

Reviewed and recommended by Nicholas on 23 Aug 2016

I have only recently started using my BOQ Blue Card and it has been super easy. I’ve managed to cover all my bills and debts and been able to pay back everything within the 44 days interest-free period. I am concerned about going over the 44 days interest-free period as fees are high and the yearly fee is quite high, but I am happy with Bank of Queensland and I would recommend them.

Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Single
Card tier
Standard
Card type
Visa
Card use
Personal
Credit rating
N/A
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$25,000
Minimum income for pensioners
$
Pensioners
N/A
Rewards program
Q Rewards
Temporary residents
N/A

Cardholders

Additional cardholders
4
Additional card fee
$15 p.a.

Credit limits

Minimum credit limit
N/A
Maximum credit limit
$10,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 44 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%80% of credit limit21.74% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the BOQ Blue Visa Credit Card at the promotional balance transfer rate from:

  • Bank of Queensland
  • Citi
  • IMB
  • Suncorp
  • Virgin Money

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%80% of credit limit 21.74% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.81% 21.74% p.a.
Purchases 1.73% 20.74% p.a.

Fees

Annual fee
$60 p.a.
Cash advance fee
3.50%
Dishonour fee
$10
Duplicate statement fee
$7
Foreign exchange fee
3.4%
Late payment fee
$10
Over limit fee
$40
Overseas ATM balance fee
$4
Overseas ATM withdrawal fee
$4
Overseas emergency card replacement fee
N/A
Transaction verification fee
$7

Rewards & points

Rewards program basics

First purchase bonus
N/A
Reward points expiry
N/A
Rewards program
Q Rewards
Sign up bonus
N/A
Spend required for bonus points
N/A

Earning points with this card

Frequent flyer points
N/A
Overseas earn rate
Same as standard earn rate
Points cap per month
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
N/A
Reward points
1 pt per $1 spent

Additional benefits

Airport lounge access
N/A
Complimentary flight voucher
No
Concierge service
No

Benefits

This card comes with benefits worth an estimated $50

ShoppingEstimated value
Guaranteed pricing / price protection insurance
Valuation based on the assumption of making a $100 claim once every 10 years. Extensive conditions apply. There is no retail market for this type of insurance, so no premium saving.
$10
Purchase protection
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
$40
Total estimated value$50
Annual fee$60
Net customer value$-10
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $25,000 per year
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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