Q Mastercard

The basics

• Additional cardholders. Share your account with others by adding additional cardholders at no additional cost. Be aware that you will be responsible for managing the account and repayments.
• Digital wallets. The Q Mastercard is compatible with Apple Pay and Google Pay.
• Gambling transactions. Gambling transactions are treated as cash advances.

Rewards and benefits

• Complimentary travel insurance. The Q Mastercard does not provide complimentary international travel insurance for cardholders.
• Concierge services. Cardholders have no access to a concierge service, usually the preserve of more exclusive cards.
• Insurances. This card does not include complimentary insurance, which is unsurprising given the market it's aimed at.
• Rewards points. This credit card does not have a rewards program.
• Sign up bonus. There is no sign up bonus for new Q Mastercard customers.

Rates and fees

• Annual fee. There is no annual fee for the first year, reverting to $50 p.a. thereafter. There will be a $25 charge at the beginning of the year, followed by another $25 six months later.
• Balance transfers. The Q Mastercard does not currently offer an introductory balance transfer deal.
• Cash advances. Cash advances incur interest at 27.99% p.a. from the transaction date with no interest-free days. There is a separate one-off fee of $2 and $3 on any domestic and overseas cash advances respectively. This interest rate is high, so avoid cash advances if at all possible.
• Establishment fee. A $55 fee will be changed the first time you use the card for long-term finance.
• Foreign exchange fee. Any purchases made overseas or online in a foreign currency will incur a 1.40% fee.
• Interest-free period. Get up to 90 days interest-free on all purchases when you pay your balance in full by the due date or make the minimum required payments. This is significantly more interest-free days than what the average card has.
• Purchases. There is no introductory offer on purchases. The ongoing rate on purchases is 26.69% p.a. This is higher than average.