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A balance transfer involves transferring the balance(s) on your other credit cards or loans to a BOQ Credit Card at a promotional rate for a set period of time. It can be a great way to save on Interest Charges. 

A balance transfer fee may be applicable on some promotional offers*. This fee is calculated as a percentage of the total amount being transferred and is added to the balance transfer amount.

For example, a balance transfer amount of $10,000 with an advertised 2% balance transfer fee results in the outstanding balance of your credit card to increase by $10,200 - $200 of which is the balance transfer fee.

At the end of the balance transfer period, the interest rate on any outstanding transferred balance and balance transfer fee will revert to the variable annual percentage rate (APR) for cash advances.

*BOQ does not currently charge balance transfer fees on any promotional offers.

You are not entitled to any interest free days if a balance transfer is active on your account.

You can transfer up to 80% of your credit limit.

Yes. You can transfer up to 100% of the balance on your existing non-BOQ Credit Card, up to 80% of your credit limit on your BOQ Credit Card.

No. An existing BOQ credit card balance cannot be transferred to another BOQ branded credit card.

You can apply for a balance transfer at the time of your new credit card application, or within 90 days from the approval date of your credit card application. Please call 1300 55 72 72 to discuss options should you wish to transfer a balance from another financial institution.

A balance transfer may take up to 10 days to be received and processed by the recipient financial institution or credit card provider.

You are eligible to make a balance transfer from a credit card account in your name.