Lending criteria, $50 annual Account Fee, fees, Ts&Cs apply. Standard Interest Rate of 28.95% p.a. applies after interest free period.
Lending criteria, $50 annual Account Fee, fees, Ts&Cs apply. Standard Interest Rate of 28.95% p.a. applies after interest free period.
Here’s a new feature from Q that gives you even more flexibility managing your expenses.
While Q Mastercard is the perfect shopping companion for everyday purchases, sometimes we need a little extra help for those unexpected bills and expenses. That’s where Q PLAN comes in.
Now you can convert eligible Q Mastercard Standard Purchases of $250 or more* into a payment plan and pay instalments over time at a lower interest rate than the Q Mastercard Standard Interest Rate (currently 28.95% p.a.).
Q PLAN means you don’t have to wait to get the things you want or hold off sorting necessary expenses, with the added benefit of extra breathing space to pay.
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Things you should know
^Q PLAN is a Fixed Instalment option available for selection for 30 days from date of eligible transaction. Under a Q PLAN, you can convert Standard Purchases with $250 or more outstanding (including under a Q Promotion) and repay in equal monthly Instalments at a fixed interest rate of 12.5% p.a. (9 months), 13% p.a. (12 months) or 13.5% p.a. (15 months) (“Q PLAN Interest Rate” (“Q PLAN Term”)). Instalments calculated by taking Purchase amount that is the subject of the Q PLAN, together with interest calculated at the applicable Q PLAN Interest Rate and dividing that amount over the Q PLAN Term. Minimum Payment due will increase as Instalment is added to Minimum Payment due each month. By converting, you waive any Payment Holiday/interest free period applying to your purchase (including under a Q Promotion). This may mean the amount of interest you pay under a Q PLAN is greater than if you had not converted. Long Term Finance transactions, Cash Advances & Balance Transfers are excluded from conversion. Transactions converted to a Q PLAN cannot make up 80% or more of your available credit limit. If you fail to pay all or part of an Instalment, that amount will be overdue and will become part of the Closing Balance of your Account and interest will be calculated and debited to your Account on that overdue amount at the Standard Interest Rate applying to your Account (currently 28.95% p.a.).
