Q Mastercard Credit Card

Gold Award

Q Mastercard credit card offers no interest and no payments for 3 months on all Standard Purchases with no minimum spend required but after the interest free period lapses you are charged a very high interest rate of 28.50% p.a. and a $50 annual fee applies. The Q Mastercard also allows you to arrange long term finance deals with longer interest free periods at specific partner stores such as Farmers, Michael Hill and Flight Centre. For long term finance arrangements a $55 establishment fee applies for the first long term finance arrangement then a $35 advance fee applies to subsequent long term finance transactions you make.

While the interest free and payment free period sounds attractive, this card charges a very high interest rate even by credit card standards so we highly recommend that you pay your balance in full before the interest free perod lapses. We also recommend that you compare this card against other interest free credit cards in NZ before you decide.

Key Features

Purchase Rate: 28.50% p.a plus 0% interest for 3 months on purchases made from select stores
Cash Advance Rate: Not Applicable
Balance Transfer: Unknown
Annual Fee: $50 annual fee and a $55 establishment fee on your first purchase using Long Term Finance. The establishment fee reduces to $35 for subsequent Long Term Finance Purchases.
Interest Free Days: 3 months
Minimum Repayment: If your Adjusted Closing Balance is $10 or more, then $10 or an amount calculated as 3% of the Adjusted Closing Balance (whichever is greater). An additional minimum repayment amount may apply for purchases made on Long Term Finance.
Card Reward Details:
Credit Limit: Subject to lending criteria and is assessed on an individual basis and based on application information.
Other Fees:

IMPORTANT NOTE: please review the credit card details on the provider's website again before applying.

Q Mastercard Credit Card Review

Pros and Cons

We've compiled below the pros and cons of the Q Mastercard Credit Card to help you decide.

Pros

3 months zero interest and zero payment
Long term finance options at select retailers

Cons

Very High Interest Rate
No reward points
Limited Benefits

What we like about the Q Credit Card

Interest-Free Periods

One of the standout features of the Q Mastercard is its interest-free periods. This allows you to make purchases without incurring interest for a set time. It is particularly useful for managing larger expenses or spreading the cost of significant purchases. You can enjoy the flexibility of paying off your balance without the immediate pressure of interest charges.

Wide Acceptance

The Q Mastercard is accepted globally, making it a convenient option for both local and international transactions. Whether you are shopping online or in-store, you can use your Q Mastercard at millions of locations worldwide. This broad acceptance ensures that you are never without a payment option, no matter where you are.

Long term Interest Free Finance

With the Q Mastercard, you can arrange long term finance with long interest free offers of up to 18 months interest free. Just keep in mind that a high interest rate will apply once the interest free period ends and depending on the long term finance arrange you might still need to make mininum repayments during the interest free period.

Drawbacks of Q Mastercard

Annual Fees

One of the main drawbacks of the Q Mastercard is the annual fee. While the card offers some benefits, the yearly cost can be a burden for some users. It's important to weigh this fee against the benefits you receive to determine if it's worth it for your financial situation.

High-Interest Rates Post Interest-Free Period

After the interest-free period ends, the Q Mastercard comes with very high-interest rates. This can lead to significant costs if you carry a balance on your card. It's crucial to pay off your balance before the interest-free period ends to avoid these high charges.

Is Q Mastercard credit card Right for me?

Deciding if the Q Mastercard is the right choice for you involves evaluating several factors.

Assessing Your Spending Habits

To determine if the Q Mastercard suits your needs, start by examining your spending habits. Ask yourself the following questions:

Do you frequently shop at stores that accept Q Mastercard?
Are you likely to take advantage of interest-free periods?
Are you likely to pay back the balance before the interest free period lapses?

Comparing with Other Cards

Next, compare the Q Mastercard with other credit cards available in New Zealand. Consider the following aspects:

Interest Rates: How do the interest rates of Q Mastercard compare to other cards after the interest-free period?
Fees: Are the annual fees and other charges reasonable compared to other options?

Long-Term Financial Goals

Finally, think about your long-term financial goals. Reflect on these points:

Will the Q Mastercard help you manage your finances better in the long run?
Does it align with your plans for saving or investing?
Can you handle the potential high-interest rates if you carry a balance beyond the interest-free period?

Using Q Mastercard for Online Shopping

Accepted Online Merchants

Shopping online with your Q Mastercard is simple and convenient. Many online retailers in New Zealand accept Q Mastercard, allowing you to enjoy the same benefits as in-store purchases. To ensure your card is accepted, look for the Q Mastercard logo on the retailer’s website or check the list of approved online merchants on the Q Mastercard website.

Security Features

When shopping online, security is a top priority. Q Mastercard offers several security features to protect your transactions. These include:

Fraud monitoring: Continuous monitoring of your account for suspicious activity.
SecureCode: An additional layer of security for online purchases.
Zero liability: Protection against unauthorised transactions.

Tips for Safe Online Shopping

To make the most of your online shopping experience with Q Mastercard, follow these tips:

Shop on secure websites: Look for 'https' in the URL and a padlock icon in the address bar.
Keep your card details private: Never share your card information over email or phone.
Monitor your statements: Regularly check your account statements for any unusual activity.
Use strong passwords: Ensure your online accounts have strong, unique passwords.

By following these guidelines, you can enjoy a safe and rewarding online shopping experience with your Q Mastercard.

Understanding Q Card’s Interest-Free Deals

Q Card offers a minimum of three months with no payments and no interest on purchases at many retailers across New Zealand. This means you can buy now and pay later without extra costs, as long as you clear the balance within the interest-free period. It’s a great way to manage your finances if you plan your payments well.

While the interest-free period is beneficial, it's important to be aware of potential costs once this period ends. If you don't pay off your balance within the interest-free timeframe, high-interest rates will apply to the remaining amount. Additionally, there may be upfront setup fees and annual account fees to consider.

To make the most of your Q Card's interest-free deals, consider the following tips:

Plan Your Purchases: Only buy what you can afford to pay off within the interest-free period.
Set Reminders: Keep track of when your interest-free period ends to avoid unexpected interest charges.
Compare Prices: Don’t limit yourself to Q Card retailers. Sometimes, a better deal might be available elsewhere, even without the interest-free offer.
Understand Fees: Be aware of any upfront setup fees and annual account fees that may apply.

Frequently Asked Questions

What is the minimum age to apply for a Q Mastercard in New Zealand?

You need to be at least 18 years old to apply for a Q Mastercard in New Zealand.

Do I need to be a New Zealand resident to get a Q Mastercard?

Yes, you must be a New Zealand resident to be eligible for a Q Mastercard.

What documents are required to apply for a Q Mastercard?

You will need to provide proof of identity, proof of address, and proof of income when applying for a Q Mastercard.

Are there any annual fees for the Q Mastercard?

Yes, the Q Mastercard has an annual fee. Make sure to check the current fee structure before applying.

What happens if I don't pay off my balance during the interest-free period?

If you don't pay off your balance during the interest-free period, you will be charged a high-interest rate on the remaining balance.

Can I use my Q Mastercard for online shopping?

Yes, you can use your Q Mastercard for online shopping at any website that accepts Mastercard.

Eligibility Requirements:

Your eligibility for this card would generally depend on a few criteria listed below. When you apply for a credit card, the credit card provider might ask you a few questions about the following criterias to determine your eligibility.

Income
Expenses
Debts
Assets
Savings
Investments

Documents:

In general the following documents are usually required for credit card applications.

Proof of Income

One of the following:

your most recent payslip or salary notice
copies of bank statements that show your pay or salary deposits
a letter from your employer confirming your income
an Inland Revenue Department (IRD) “summary of earnings” notice.

If you’re self-employed, you must supply:

signed financial statements for the past two years
a signed personal Statement of Financial Position
your personal tax return.

Proof of Identity:

A copy of one or two items from List 1. If you provide only one item from List 1, you must also provide one item from List 2.

List 1:

Current passport
New Zealand drivers licence
18+ card
Photo Credit Card

List 2:

Most recent bank statement
Debit card
Credit card
Community services card
Club or society card.

Are you interested in a No annual fee credit card? Compare ALL no annual credit cards on our No fee credit cards page.

Are you interested in an interest free credit card? Compare ALL interest free credit cards on our Interest free credit cards page.

More Info »

Apply Now »

What is the best credit card in New Zealand?

We've been asked this question a lot so we have compiled our pick of the best credit card in NZ but keep in mind that the best credit card for you depends on your personal circumstance and needs. To find the best credit card for you, we recommend that you compare all credit cards in NZ on our website or narrow down your search by popular credit card types as shown below. Use the top menu of the page to select more credit card types.