QTMB Credit Cards

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Compare low rate and platinum credit cards from QTMB: a customer-focused mutual banking institution

QTMB is short for Queensland Teachers Mutual Bank. Originally a credit union, the history of the organisation dates back to 1965 when a group of teachers pooled their money together so they could lend money to other Queensland teachers. But QT Mutual Bank isn’t just a bank for teachers — QTMB is a full-service financial institution for all Queenslanders, no matter their occupation. QTMB offer credit cards, bank and savings accounts, personal loans, mortgages and insurance. QTMB offer products and services to suits most borrowers’ needs.

We compare QTMB credit cards on this page. They currently offer two credit cards, a low rate and platinum product. Both cards are competitively priced, and for what you pay, they offer a little more than what you’d expect.  This is mutual bank difference. When you apply for a QTMB credit card, you’re more than a customer, you’re a member with a share in the organisation. When the bank makes a profit you benefit from products with better rates and lower fees. You can read about the benefits of banking with a mutual bank like QTMB and learn about applying for one of their credit cards below.

Comparison of QTMB Credit Cards

Rates last updated September 28th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
QT Mutual Bank Low Rate MasterCard
Low interest rate on balance transfers and purchase rate plus low annual fee of just $49 p.a.
12.99% p.a. 0% p.a. for 9 months $49 p.a. More info
QT Mutual Bank Platinum MasterCard
0% p.a. on balance transfers for 14 months. Earn reward points for every dollar spent on your card.
20.24% p.a. 0% p.a. for 14 months $179 p.a.

What are the types of credit cards from QTMB?

QTMB offer the choice of two types of credit card: a low rate and platinum MasterCard. Both cards give you insurance as well as the suite of basic credit card features, like interest-free days. The low rate credit card may be suited to you if you can’t repay your balance in full some months. The platinum card could be an option if you’re prepared to pay a little more for the ‘bells and whistles’ and you’re a little more disciplined about how you use your credit card.

  • Low rate credit cards

    More than just a low rate of interest, the QTMB Low Rate MasterCard goes a step further than most other low rate products by offering purchase cover insurance. QTMB will even replace lost or stolen credit cards in Australia or overseas for no extra charge. Like most other low rate cards, standard credit card features are included: interest-free days, contactless payments and free additional cards are all part of the deal.

Rates last updated September 28th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
QT Mutual Bank Low Rate MasterCard
Low interest rate on balance transfers and purchase rate plus low annual fee of just $49 p.a.
12.99% p.a. 0% p.a. for 9 months $49 p.a. Up to 55 days on purchases More info
Rates last updated September 28th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
Westpac Low Rate Card
A simple low interest rate card featuring a low ongoing rate on purchases, up to 55 days interest-free on purchases and a low annual fee.
1% p.a. for 12 months (reverts to 13.49% p.a.) 0% p.a. for 18 months $59 p.a. Up to 55 days on purchases Go to site More info
ME Bank frank Credit Card
A low interest rate on purchases and cash advances with no annual fee charge.
11.99% p.a. $0 p.a. Up to 55 days on purchases Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Up to 55 days on purchases Go to site More info
Newcastle Permanent Value+ Credit Card
Enjoy a competitive annual fee and interest rates on purchases, cash advances, and balance transfers.
11.49% p.a. $49 p.a. Up to 55 days on purchases Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $59 p.a. Up to 55 days on purchases Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 20 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Up to 55 days on purchases Go to site More info
Westpac 55 Day credit card
Enjoy a balance transfer offer of 0% p.a. for 16 months, an introductory purchase rate of 1% p.a. for up to 12 months, plus a waived annual fee for the first year if applied by 11 October 2016.
1% p.a. for 12 months (reverts to 19.84% p.a.) 0% p.a. for 16 months $0 p.a. annual fee for the first year ($30 p.a. thereafter) Up to 55 days on purchases Go to site More info
Coles Low Rate MasterCard
A low rate MasterCard with a competitive rate on purchases and a low annual fee.
9.99% p.a. 0% p.a. for 6 months $49 p.a. Up to 62 days on purchases Go to site More info
NAB Low Fee Card
Enjoy a low introductory rate of 0% p.a. on balance transfers and purchases for 15 months.
0% p.a. for 15 months (reverts to 19.74% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $30 p.a. Up to 44 days on purchases Go to site More info
ANZ First Visa Credit Card - Exclusive Offer
Take advantage of this exclusive offer and enjoy 0% p.a. for the first 12 months on balance transfers and 0% p.a. for the first 3 months on purchases.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $30 p.a. Up to 44 days on purchases Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for 12 months on purchases.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
ANZ Low Rate
Save on your existing credit card interest with 0% for 18 months on balance transfers with a low annual fee and low ongoing purchase rate.
13.49% p.a. 0% p.a. for 18 months with 3% balance transfer fee $58 p.a. Up to 55 days on purchases Go to site More info
BankSA Vertigo Visa
A low rate credit card with 0% for 18 months on balance transfers and low ongoing purchase rate from BankSA.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
Citi Clear Platinum Card
Enjoy 0% p.a. for 9 months interest-free purchasing and 0% p.a. for 9 months on balance transfers.
0% p.a. for 9 months (reverts to 14.99% p.a.) 0% p.a. for 9 months $99 p.a. Up to 55 days on purchases Go to site More info
BankSA Vertigo Platinum
Experience Platinum card benefits with complimentary insurance policies and 24/7 Visa Platinum Concierge Service. Get 0% for 20 months on balance transfers and 1% for 12 months if you apply by 29 September 2016.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Up to 55 days on purchases Go to site More info

Learn more about Low Rate Credit Cards

  • Platinum credit cards

    The QTMB Platinum MasterCard rewards you with points when you spend, it has a comprehensive suite of insurances and you can make interest-free purchases if you pay back what you spend. As far as platinum cards go, QTMB ticks all the boxes. Compare these credit cards by their fees. Platinum credit cards offer more than a low rate or no annual fee in terms of features, and they charge more for it. Also, keep an eye on balance transfer and purchase rate promotions, as these special deals can save you money.

Rates last updated September 28th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
QT Mutual Bank Platinum MasterCard
0% p.a. on balance transfers for 14 months. Earn reward points for every dollar spent on your card.
20.24% p.a. 0% p.a. for 14 months $179 p.a.
Rates last updated September 28th, 2016
Rewards Points per $ spent (AMEX) Rewards Points per $ spent (VISA/MC) Bonus Points Annual fee
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
0 1 $149 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn bonus Velocity Points in the first 3 months and a low 0% p.a. for 18 months on balance transfers. Receive a free Virgin Australia $129 Gift Voucher each year. Available from mid-2016.
0 0.66 $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 20 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
0 0 $99 p.a. Go to site More info
Citi Qantas Signature Credit Card
Earn up to 70,000 bonus Qantas Points on eligible spend, plus enjoy a 0% p.a. for 6 months offer on balance transfers.
0 1 70,000 bonus points $99 p.a. annual fee for the first year ($395 p.a. thereafter) Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive $200 back when you spend $500 in the first 3 months. Also enjoy a $0 annual fee for the first year.
0 0 $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
0 1 60,000 bonus points $199 p.a. Go to site More info
Citi Rewards Credit Card - Platinum Card
Enjoy a long term balance transfer offer and earn 1.25 Citi Reward Points on per $1 spent for all domestic purchases.
0 1.25 $199 p.a. annual fee for the first year ($249 p.a. thereafter) Go to site More info
American Express Platinum Edge Credit Card
Receive 10,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Also receive a complimentary Virgin Australia domestic economy return flight every year.

1 0 10,000 bonus points $195 p.a. Go to site More info
Bank of Melbourne Vertigo Platinum
A platinum card with a low balance transfer offer of 0% p.a. interest for 20 months and 1% p.a. for 12 months on purchases combined with complimentary insurance covers.
0 0 $99 p.a. Go to site More info
American Express Velocity Platinum Card
Enjoy up to 50,000 bonus Velocity Points when you meet the minimum required spend and earn up to 3 rewards points per dollar spent. Also receive a complimentary return flight every year.
1 0 50,000 bonus points $349 p.a. Go to site More info
ANZ Frequent Flyer Platinum
Get 50,000 bonus Qantas Points after first eligible purchase is made within three months. Earn up to 1.5 Qantas Points per $1 spent on purchases.
1.5 0.5 50,000 bonus points $295 p.a. Go to site More info
ANZ Rewards Travel Adventures card
Pay no overseas transaction fee on purchases and receive complimentary domestic return flight and lounge passes each year you hold the card when you spend $500 on eligible purchases within the first three months.
2 1 $225 p.a. Go to site More info
American Express Qantas Premium Card
Earn as much as 30,000 bonus Qantas Points when you meet the minimum spend requirement. Enjoy frequent flyer benefits including uncapped Qantas Points per $1 spent, complimentary travel insurance and Qantas Club lounge invitations.
1 0 30,000 bonus points $249 p.a. Go to site More info
Citi Rewards Platinum Card - Cashback Offer
Earn $250 cashback on eligible spend, plus enjoy 0% p.a. balance transfer offer for 12 months, discounted annual fees for the life of the card and a complimentary travel insurance.
0 1.25 $99 p.a. annual fee for the first year ($199 p.a. thereafter) Go to site More info
American Express Platinum Card
Receive 80,000 Membership Rewards Bonus Points when you meet the minimum spend requirement and earn up to 3 points per dollar spent. Gain access to travel insurance, $300 Platinum Travel Credit every year and access to 800 VIP airport lounges.
1 0 80,000 bonus points $1,200 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
An interest-free period on both purchases and balance transfers.
0 0.66 $129 p.a. Go to site More info
Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
Receive 30,000 bonus Velocity Points and earn 1 Velocity Points per $1 spent. Receive an exclusive $129 Virgin Australia Gift Voucher and two complimentary Single Entry Virgin Australia domestic Lounge passes each year.
0 1 30,000 bonus points $144 p.a. annual fee for the first year ($289 p.a. thereafter) Go to site More info
ANZ Rewards Platinum
Enjoy accelerated points earning and great Platinum features with ANZ Rewards Platinum card. Also offering 50,000 Reward Points after your first eligible purchase is made within 3 months of card approval.
2 1 50,000 bonus points $95 p.a. Go to site More info
American Express Qantas Ultimate Card
Enjoy 50,000 bonus Qantas Points when you meet the minimum spend requirement and earn up to 3 Qantas Points for every $1 spent. Also enjoy a complimentary return flight every year.
1 0 50,000 bonus points $450 p.a. Go to site More info
ANZ Low Rate Platinum Credit Card
Platinum card perks with a low ongoing interest rate.
$99 p.a. Go to site More info

Learn more about Platinum Credit Cards

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The benefits of banking with QTMB

Find out about some of the benefits that come with choosing a product from QTMB:

  • NAB ATM access

    If you have a QTMB credit card, you can make free ATM withdrawals at any NAB ATM in Australia. NAB are one of Australia’s Big Four Banks, and have an extensive ATM network throughout Australia.

  • QTMB Internet and mobile banking

    Do your banking when you want to. QT Mutual Bank makes it easy to view and review your credit card information, as well as make and arrange payments to other accounts in Australia. You can also access some great Internet banking features from your smartphone with QTMB mobile banking.

  • QT Mutual Bank — customer-owned banking

    When you apply and are approved for a QTMB credit card, you’re not just a customer, you’re a member with a share in the financial institution. As a member of a mutual, you have a stake in your bank and benefit from improving deals and rates. When the mutual makes a profit, you stand to benefit.

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How to apply for a QTMB Credit Card

Click ‘Go to Site’ to start a secure online application for a QTMB credit card. Some basic eligibility criteria apply, for example, you must be over the age of 18, have a good credit rating and be a permanent Australian resident. You can find out more about the application requirements on our QTMB credit card review pages.

Required information

The online application should only take ten to fifteen minutes to complete if you have the following information on hand:

  • Identification. Provide information about yourself, such as whether you support any dependants, your email address, residential address, your driver’s licence number, and you’ll also need to provide some basic information about a friend or relative who is not living with you.
  • Income. QTMB need to know about your job and your income if you want to apply for a credit card. If you’re unemployed, self-employed or retired,  you can still apply for a credit card, just select the appropriate field from the drop-down menu and enter your employer’s contact information. Self-employed applicants will also need to provide their accountant’s contact information.
  • Expenses. List your ongoing expenses. These costs can include rent, groceries, utility bills, school fees and loan repayments, for example. If you’re electing to transfer an existing non-QTMB credit card balance, you’ll need to provide the card number and amount you want to transfer from each account.

What happens next?

You should receive an email from the bank letting you know whether you’ve been approved or declined. Your application can also be conditionally approved. If this is the case, you may need to provide extra information to the bank, such as payslips to verify your income.

Each online application is assigned a unique application reference number. If you haven’t received a response within a few minutes of completing and submitting your application, quote this number to a QTMB representative to check on the status of your credit card application.

If your application has been fully approved, you can expect to get your credit card within two weeks.

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Frequently asked questions

Have a look at the FAQs below if you have a question about QTMB credit cards. You can also ask us a question directly by using the form at the end of this page.

What does QTMB stand for?

QTMB is short for ‘Queensland Teachers Mutual Bank’. It’s a nod to the history of the bank, which was established to serve the needs of Queensland Teachers. QTMB is mutual bank. Mutual banks are member-owned organisations and are different from the shareholder-owned traditional banking structure.

How do I do a balance transfer to a QTMB credit card?

If you would like to transfer your existing credit card balance to a QTMB credit card so you can save money on interest, you can elect to transfer a balance when you apply for a QTMB credit card online. There’s a section in the application where you’re asked to enter the account details of any Australian issued non-QTMB credit card, store card or charge card you would like to include in a balance transfer. The application gives you space to enter the details of two accounts.

What do I need to know about balance transfers to a QTMB credit card?

  • The balance transfer promotion applies to account balances you choose to transfer at the point of application. This special balance transfer rate is available to new customers only.
  • At the end of the balance transfer period, any outstanding balance from the balance transfer promotion will be charged at the cash advance rate of interest.
  • Allow up to 10 business days for a balance transfer to be processed by QTMB and the bank you’re transferring from.
  • You can use up to 80% of your available credit limit on your QTMB credit card towards a balance transfer.
  • You can transfer as little as $500 from other accounts.
  • The account you’re transferring from must be in the same name as the primary cardholder of the QTMB credit card.
  • If you’re carrying out a balance transfer to a QTMB Platinum credit card, balance transfers do not earn rewards points.
  • You’re not eligible to receive any interest-free days while you’re carrying forward a balance transfer balance. You must pay your outstanding balance in full for a period of two consecutive months to be eligible for interest-free days on purchases.

How much do I have to pay off my card each month?

Each QTMB credit card has a minimum repayment. This is the minimum amount you have to pay off your credit card each month to avoid incurring a late payment fee. You can find information about the minimum repayment on our QTMB review pages. It’s advised that you pay more than the minimum amount each month if you’re serious about paying off your credit card balance. Your credit card statement will show you how long it takes to pay your account off in full by just making the minimum repayment each month.

How do I get interest-free days on purchases?

QTMB credit cards offer interest-free days when you make a purchase. Interest-free days are a reward from QTMB for paying your account in full when your statement is issued. If you carry a balance from month to month (like when you’re paying off a balance transfer promotion), you won’t be eligible for interest-free days and interest will be charged from the time the purchase is processed. Note that interest-free days do not apply to cash advances and cash transactions, such as some bill payments.

Can I get an extra card?

Each QTMB credit card allows a number of additional cards to be issued on the one account. For example, you can have one primary cardholder and a up to four additional cards. You can view the number of additional cards allowed for each account on our review pages.

If you would like to request an additional card, you can do so either when you apply for the QTMB primary card, or after you apply by completing and sending in an additional cardholder form, which is available on the QTMB website.

Additional cardholders must be over the age of 16 and Australian residents. They may be required to verify their identity. You’ll be advised about this once the request has been submitted.

How do I get a higher credit limit?

You’ll need to get in contact with QTMB in relation to credit limit increases for your card.

How do I report a lost or stolen card?

If your QTMB is lost or stolen, report the incident to the bank immediately. By reporting a lost or stolen credit card right away, the card will be blocked and you will not be held liable for any future transactions on your account.

How do I register for internet banking?

Internet banking is a convenient tool from QTMB that lets you manage your account and make payments any time of the day, from anywhere in the world.

It’s easy to register for online banking with QTMB. All you need to do is complete and send in an access form. You can find this form on the QTMB website. The form can be faxed to QTMB or delivered in person to QTMB branch. You’ll get a confirmation email with your security token and a temporary password. You can change your password after your first log in.

You can now view and manage your QTMB account from your computer.

If you’re using a smartphone to log in to QTMB you can benefit from mobile banking. You don’t need to download a special app, as the QTMB website will see that you’re using a smartphone or tablet device and take you to the mobile website automatically. This lets you view account balances and your transaction history, find ATMs linked to the RediATM network and contact QTMB easily using your smartphone device.

How do I earn rewards points?

If you have a QT Mutual Bank Platinum MasterCard, you can get rewarded with Rewards Points when you charge an eligible purchase to the credit card. Eligible purchases are your everyday type of purchase — paying for grocery shopping, petrol and general retail purchases. Rewards Points are not awarded for cash transactions, which include cash advances, balance transfers or other special promotions, paying credit card fees and charges or government charges for example. You can find a full list of transactions that are ineligible to earn Rewards Points in the terms and conditions.

Do my rewards points expire?

No, your QTMB rewards points will never expire as long as you keep your account open and you keep meeting your credit card repayments (i.e. your account remains in good standing).

How do I activate the free travel insurance?

QTMB Platinum MasterCard account holders are eligible for free international travel insurance. When the travel insurance eligibility requirements are met, the cover is automatically activated.

If you have a Platinum MasterCard, you must charge the card to purchase your return overseas travel tickets to be eligible for the cover before you leave Australia. An overseas travel ticket can include flights or cruises.

If you’re eligible for the complimentary international travel insurance and you’re the primary cardholder, your spouse and dependant children are also covered under the policy as long as they travel with you for the entire journey and you’ve paid for their return overseas travel tickets with the card, too.

The complimentary cover lasts for three months from the date of your departure on your return ticket, or for 31 days for a one-way ticket. If your return to Australia is delayed for reasons beyond your control, the cover is extended for an additional four weeks.

What is MasterCard PayPass?

MasterCard PayPass is a handy credit card feature that allows you to make quick and easy contactless payments when you’re shopping in-store. If the merchant has a contactless terminal, hold your credit card against the reader for a second or two and the transaction is complete. There’s no need to enter your PIN.

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Credit Cards Comparison

Rates last updated September 28th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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