Q Card Credit Cards

Updated 15 September 2020

As part of the Flexi Cards group, Columbus Financial Services issues a number of credit cards in New Zealand, including the Q Card Credit Card and the Flight Centre Credit Card. Based out of Auckland, the issuer sits under the FlexiGroup NZ umbrella, which in turn is a wholly-owned subsidiary of ASX-listed Flexi Group, Australasia’s leading provider of financial solutions for lifestyle, home and business.

Flexi Cards was the first non-bank in New Zealand to be granted a Mastercard issuing licence, with which it issued the innovative Q Card Credit Card back in 2016. While there is not much of interest to note about Columbus Financial Services or Flexi Cards as a prospective cardholder (aside from the fact that they are managed overall by a well-respected financial services group), there is much to learn about the Q Card Credit Card.

Q Card Credit Card

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Q Cards

The Q Card Credit Card

The Q Card Credit Card is unique in the market, in that it offers three months interest free on all purchases, while allowing cardholders to take a ‘payment holiday’. For cardholders who need longer to pay off larger purchases, the card provides long term interest free finance deals with leading retailers across New Zealand.

Payment Holidays

With the Q Card Credit Card in hand, you can take a ‘payment holiday’ on all your purchases, big or small. How does this work? When you use your card to make a purchase, you will not pay any interest on that purchase for three months. You will also not have to make any payments on that purchase during that period, hence ‘payment holiday’.

As long as you manage this feature correctly, you could save big on interest. Whether you’re buying big ticket items or spending day-to-day, every eligible purchase you make will not start accruing interest for three months. That’s huge. However, it is worth noting that the standard purchase rate on this card is high, so to make the ‘payment holiday’ feature – and all the savings it provides – worthwhile, you will need to pay off all your purchases before they start accruing interest.

Long Term Finance Offers

In terms of interest savings, the Q Card Credit Card has one more trick up its sleeve. Having teamed up with an awesome range of New Zealand retailers, the card offers cardholders long term finance offers on everything from DIY essentials to dental work. To take advantage of these deals, simply check out the deals page on the Q Card Credit Card site to see what might work for you.

Planning a holiday? You could take advantage of interest free finance from travel agents such as Flight Centre. Want to buy your loved one something special? Utilise interest free finance from jewellers such as Michael Hill to buy what you want now and pay it off later. Need to do some renovations around the house? Interest free finance from retailers such as Carpet Court and Mitre 10 could make that happen.

While you always need to be aware of the various terms and conditions that apply – for example, you will need to pay a small fee to set up each long term finance deal – these offers could help you save on the things you need to buy now, to pay it all back over time before it starts accruing interest.

Credit Card Insurance

Credit card insurance isn’t offered as standard on the Q Card, but cardholders can request it as an add-on feature. This insurance can cover redundancy, temporary disability, permanent disability, bankruptcy, and death or a terminal illness, helping to pay off covered cardholders’ balances should the worst happen.

As it is an add-on feature, it does come at a cost. Cardholders who sign up for this insurance cover will pay a premium based on their closing monthly balance. If there isn’t a closing balance on the account, no premium will be charged.

As of 1 September 2019, the payout on any successful claim will cover the entire closing balance of the cardholder’s account. The policy also extends to the cardholder’s partner. This can help to alleviate some of the financial worries that can come with situations such as a loss of job or disability.

To find out more about the Q Card and what it could offer you, check out the card’s page, where you can compare fees and features against other cards you are interested in.

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