BOQ Low Rate Visa Credit Card

If you’re struggling to pay off interest charges on your current credit card or store card then consider switching to the BoQ Low Rate Visa credit card. It’s easy to transfer outstanding balances – allowing you to take advantage of the great rate of interest and save a lot of money.

Benefit of the Card’s Best Features?

This card does exactly what it says on the tin – offers low rates! There is an ongoing standard interest rate of just 13.49% p.a., which is extremely competitive when you compare to other cards on the market. This is definitely a must-have if you find yourself not paying off your balance in full and being charged interest.

Just like any other card, you can use it to pay over the phone, online and in-store. BoQ also make managing the account nice and easy with access to your account online and over the phone. There’s also the option to set up Easi-Pay, a service that allows you to set up automatic credit card repayments helping you to avoid additional fees and interest charges. This handy bit of kit simply draws a select amount from your nominated transaction account, allowing you to pay off either the full statement balance, the minimum monthly repayment or just a fixed amount each month. What’s more, you don’t need a current account with BoQ to take advantage; you can simply nominate an account from a different bank.

As with many other cards, the Low Rate Visa has a balance transfer offer of 0% p.a. for 3 months. If you are carrying a balance from one month to the next, this comparatively low rate will really help you to get your finances under control.

Are There Any Drawbacks?

The card may be too basic for some, with an ongoing annual management fee of $55 p.a. (the first year is $27 p.a.), you may expect some additional benefits on top of the good interest rate. However, if you’re simply looking for a no frills, value-for-money credit card, then this shouldn’t be a problem so long as you spend fairly regularly on credit.

Who Would be Suited?

The BoQ Low Rate Visa card would suit anyone looking for a cheap credit card. Whether it’s because you want to transfer across an old balance, or you’re looking for a new account with a low rate for your purchases – this card is excellent value for money. It may not be ideal for those of you who only spend occasionally on credit cards as the annual management fee may not be justified.

Who is Eligible?

If you want to take advantage of this cheap credit card, then you’ll need to be on a salary of $25,000 or more and be over the age of 18. You should also have a good credit history and be an Australian resident or citizen.

Conclusion

If you’re simply after a no-frills credit card, then this could be the one for you. With low purchase rates and cheap balance transfers, this is an excellent account for anyone who no longer wants to be paying high interest charges and late repayment fees.