Flexible ways to manage your credit card
Credit card instalment plans and payment options
Credit card instalment plans and payment options
With so many payment options, staying on top of your credit card couldn't be easier.
With BOQ instalment plans, you can break your payments into manageable monthly instalments over a set term of 1-5 years.**
This handy facility simply draws a selected amount from your nominated transaction account. You can choose to pay:
Features of Easi-Pay
Easi-Pay can be set up by either visiting your nearest branch or completing and returning the form below.
Please note: it can take up to 3 business days for your Easi-pay payment to be cleared from the bank account you have nominated to be debited. Until the payment is cleared, these funds will not be available for use.
Regular payment arrangements can be either a recurring payment or an instalment payment. A regular payment arrangement is an agreement between you (the cardholder) and a merchant in which you authorise the merchant to bill your credit card account at regular intervals (e.g. monthly or quarterly) or at intervals as agreed by you. The amount may differ or be the same for each transaction.
An Instalment Payment represents an agreement between you (the credit cardholder) and a merchant in which you preauthorise the merchant to bill your credit card account with a fixed amount at predetermined intervals for a predetermined time.
Recurring Transaction: You may ask your local gymnasium to charge your monthly gym membership fee to your credit card each month.
Instalment Payment: You may have purchased a new television from your local appliance store and are being billed by the merchant for a fixed amount in multiple periods until a defined date.
There are many benefits for Credit Card holders who set up regular payments including:
At Bank of Queensland, there are a few ways to cancel your Regular Payment Arrangement on your Credit Card:
The request for cancellation will be processed by Citigroup, the credit provider for BOQ’s Credit Cards. Requests are processed promptly, however may not take immediate effect if the third party (eg, gym membership) has already submitted their payment file for processing. For added assurance, it is always good to touch base with the third party provider to ensure your payment arrangement is showing as cancelled within their system.
If you have provided a merchant with your credit card number for a Regular Payment Arrangement and your credit card number and/or expiry date changes, then you must always contact the merchant to advise them of the new credit card/expiry details. Failure to advise the merchant of these changes could result in the cancellation of goods and/or services (eg, the cancellation of your car insurance policy).
When you make a payment to your account using the Reference Number shown on your statement (which is also your Account Number), the available limit is updated for you as the primary cardholder, as soon as the payment is processed.
For purchases made by additional cardholders, their available limit will be updated when your next statement is issued. If you need to make credit available to them earlier, you can make a payment to your account using the additional cardholder’s card number as the Reference Number.
**BOQ Instalment Plans are defined in the Credit Card Terms and Conditions as a Fixed Payment Option. Fixed Payment Option offers are subject to eligibility and only available if your account is and remains in good standing. Your Fixed Payment Option uses part of your existing credit limit. As you pay off your Fixed Payment Option, 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 applicable to your account. For the full terms and conditions of your Fixed Payment Options, please refer to the Credit Card Terms and Conditions and Other Important Information.
^If you carry a balance on your credit card from month to month (exclusive of the Instalment Plan amount), the interest free period does not apply and you are charged interest from the purchase date. No interest free period is available on Cash Advances or when you have Balance Transfers.
Citigroup Pty Ltd ABN 88 004 325 080, AFSL No. 238098, Australian credit licence 238098 (Citigroup) is the credit provider and issuer of BOQ Credit Cards (Credit Cards). Bank of Queensland Limited ABN 32 009 656 740 (BOQ) AFSL distributes the Credit Cards under an agreement with Citigroup. BOQ does not and will not guarantee or otherwise support Citigroup's obligations under the contracts or agreements connected with the Credit Cards. The words "we", "us" or "our" will generally be read as a reference to Citigroup, but if the context requires these words to refer to BOQ, they will refer to BOQ undertaking relevant actions or making relevant decisions for or on behalf of Citigroup.