Blue Visa credit card is an excellent financial product available for new customers of Bank of Queensland. It comes with a competitive offer for balance transfers and purchases.
Unlike other rewards cards, the Blue Visa charges some fees, including an annual fee. However, this is offset by its numerous other premium features that are not common for other competitors.
Let’s find out more about the Blue Visa and how to apply. Keep reading to learn everything you need to know about this credit card.
Fees and Interest
First of all, the Blue Visa credit card charges its cardholders with a $60 annual fee. The annual APR for purchases is set at a variable rate of 20.74%, with a cash advance APR of 21.74%. However, unless you have a balance transfer, you benefit from up to 44 interest-free days.
If you want more additional cards, there is a smaller annual fee of $15 for each card. For cash advance fees, there is a charge of $3.50 per transaction if it is under $100, and 3.5% for other larger transactions.
Internationally, there is a 2% cash advance fee for any transactions outside Australia. However, there is a minimum fee of $4 for such transactions and a maximum of $30 debited to your account on the day of the transaction.
There are also daily cash limits set by the Bank of Queensland. You can withdraw a maximum of $1,000 per day from your credit card. Some other fees include the following.
- $10 fee for dishonored cheque payments and interest is charged on outstanding amounts
- $30 late payment fee
- $40 over limit fee
- $2 per month for paper statements
- $30 per cheque for clearing foreign cheques
How to Apply
You can apply for a Blue Visa card by vising the Bank of Queensland website. All you need to is make sure you meet the eligibility criteria before filling in the application.
Firstly, you need to earn a minimum of $25,000 per year to apply for the Blue Visa. If your purpose is to transfer a current balance, you can do so up to 80% of the approved credit limit from any store card, loans, and credit cards that are from non-Citigroup.
The card is only available to permanent Australian citizens and residents. You also need a good credit score to be accepted, and, finally, you need to be at least 18 years old.
The bank also requires you to provide some documents. You need personal details, including contact details, full name, address, marital status, and how many financial dependents you have in your household. Then, for identification, you need to input your driver’s license number.
You need to provide employment details. It is necessary to mention your current employment place and share your employer’s contact details.
If you want to transfer a balance, you also need to provide relevant information. This includes the amount of existing debt you want to transfer, account name and number, and the financial institution’s BSB.
Bank Contact Details
Bank of Queensland can be reached via phone at 1300-55-72-72.
The bank is headquartered at 100 Skyring Terrace, Newstead, QLD 4006.
Features and Benefits
One of the main benefits of this card is the introductory offer for balance transfers. They offer up to 18 months 0% interest on balance transfers. This will help you to pay off any existing debt.
However, you must keep in mind that you need to choose between this introductory offer on balance transfers or the 44 days of interest-free retail purchases. The interest-free days are canceled if you already have debt.
If you want to simply benefit from the purchases offer, it is also worthwhile to mention that this is a reward card. You receive 1 reward point for each dollar you spend on eligible transactions, and you can redeem these points in multiple ways, including for holidays.
Another benefit of the purchase offer is the ability to get a refund of up to $500. For instance, if you purchase an item and, afterward, it goes on sale, you are able to get a refund if the purchase is eligible.
All in all, the Blue Visa card is great for either paying off current balances or enjoying 44 days of interest-free purchases. Its maintenance fees are only $60 per year, so it an excellent option for many financial needs.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.