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