[br]
AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245 631 (trading as Allianz Global Assistance) under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 has issued a Complimentary insurance group policy to National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”) which allows eligible NAB account holders and cardholders to claim under it as third party beneficiaries by operation of s48 of the Insurance Contracts Act 1984 (Cth). NAB is the credit provider and issuer of BOQ credit cards. Any advice on insurance is general advice only and not based on any consideration of your objectives, financial situation or means. The terms, conditions, exclusions, limits and applicable sub-limits of the group policy are set out in the BOQ Credit Cards Complimentary Insurance Policy Information Booklet. Neither NAB nor any of its related corporations guarantee this insurance.
Q Rewards® Points are earned on Eligible Transactions. An eligible purchase is defined as an Eligible Transaction. An Eligible Transaction is defined in the Q Rewards® Terms and Conditions. Q Rewards® Reward Points and Reward redemptions are subject to the Q Rewards® Terms and Conditions. See the Q Rewards® Terms and Conditions for full definitions and details.
[br]
[br]
Instalment Plan eligibility
Your Instalment Plan offers are subject to eligibility and only available if your account is and remains in good standing (for example - your account is not in default, suspended or closed). Your Instalment Plan uses part of your existing Credit Limit. As you pay off your Instalment Plan, the amount you pay off will become available for you to use again as part of your Credit Limit at the standard Annual Percentage Rate (APR) applicable to your account.
A fee may apply to set up an Instalment Plan.
During the cycle in which an Instalment Plan is set up, you will be charged either an Initial Interest Charge or an Instalment Plan fee which will be included in the Minimum Payment Due on your next statement. Subsequent statements will include an Instalment for each month of the term.
While you have an Instalment Plan, payments will be applied to your Initial Interest Charge or monthly instalment before all other balances, even if they attract a higher rate of interest.
If you fail to pay the Minimum Payment Due or any other amount by its Payment Due Date, we charge interest on any unpaid Instalment, Instalment Plan fee or Initial Interest Charge component (and any interest calculated on any of them, and any interest on that interest) from the day after the Payment Due Date. It will be calculated using the daily retail rate and the Daily Calculation Method until they are repaid in full. We may also cancel the Instalment Plan(s).
We will tell you if an Instalment Plan amount is overdue before we cancel the Instalment Plan(s). If your Instalment Plan is cancelled, the full outstanding balance of your Instalment Plan will revert to the Retail Purchase interest rate (for Statement Instalment Plan and Transaction Instalment Plan) and the Cash Advance rate (for Cash Instalment Plan).
For the full terms and conditions that apply to Instalment Plans, please refer to the Credit Card Terms and Conditions and Other Important Information.
Instalment Plan repayments
By requesting an Instalment Plan, you request and if we set it up, we agree that any payments you make to your credit card will be applied first to Instalment Plan amounts that are overdue and due before being applied to other amounts as set out in section 5 of the credit card terms and conditions under the heading 'Instalment Plan - Application of Payments’.
As a result, you may be liable to pay an amount or rate of interest that is greater than what you otherwise would under credit laws if payments had been applied to balances that have a higher rate first, for example, purchases or Cash Advances that are not in an Instalment Plan.
You can withdraw your request to apply payments differently at any time, but if you do, we will cancel your Instalment Plan.