Bank of Queensland Platinum Visa Credit Card – Details and Application

BOQ is offering a platinum card with 30,000 bonus Q Rewards® points and an introductory rate of 0% p.a. on balance transfers for 18 months.

Earn 30,000 bonus Q Rewards® points with BOQ Platinum Visa Credit Card when you meet the minimum spend requirement, plus an introductory rate of 0% p.a. for 18 months on balance transfers if you apply and get approved by 31 August 2017.

Product NameBOQ Platinum Visa Credit Card
Rewards ProgramQ Rewards
Balance transfer rate (p.a.)0% p.a. for 18 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)20.74% p.a.
Offer end date31 August 2017
Annual fee$129 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$30,000
Minimum Monthly Repayment2% or $30 whichever is greater
Minimum Income$35,000
Card TypeVisa
Late Payment Fee$10
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.4% of transaction value
Complimentary Travel InsuranceYes
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$35,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$30,000
Annual Fee$129 p.a.
Minimum Repayment2% or $30 whichever is greater
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee3.5% of the cash advance amount or $3.50
Overseas Cash Advance Fee2% of the cash advance amount or minimum of $4.00
Overseas ATM Balance check$2
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.4% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • Get 30,000 bonus Q Rewards® points when you apply by 31 August 2017 and spend $3,000 within 3 months of card approval.
  • 0% p.a. interest charged on outstanding balances bought over to the card for 18 months.
  • Enjoy up to 55 interest-free days on purchases.

Cons

  • This card has a reasonably high purchase rate of 20.74% p.a. interest compared to other cards in the market.
  • At the end of the balance transfer period, the interest charged on any remaining unpaid balance will revert to the cash advance rate of 21.74% p.a.
Rewards ProgramQ Rewards
Bonus Points on Sign-up30,000
Rewards Points per $ (VISA/MC)2
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) Cap240,000
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

The Bank of Queensland Platinum Visa Credit Card review

The BOQ Platinum Visa Credit Card combines premium features with a competitive annual fee. New cardholders can also take advantage of the 30,000 bonus Q Rewards® points when they apply before 31 August 2017 and spend $3,000 within 3 months of card approval. There's also a range of complimentary insurance covers, including overseas travel insurance and extended warranty insurance on purchases.

In addition to these features, this card includes a 0% p.a. balance transfer offer for 18 months. You can also enjoy up to 55 days interest-free on purchases when you pay your balance in full by the statement due date.

Benefits of the Bank of Queensland Platinum Visa Credit Card

  • 30,000 bonus Q Rewards® points. New cardholders can earn 30,000 bonus Q Rewards® points if they apply before 31 August 2017 and spend $3,000 within 3 months of card approval.
  • Balance transfer offer. If you apply and get approved by 31 August 2017, you can take advantage of 0% p.a. interest rate on balance transfers for 18 months. At the end of this period, the interest rate will revert to the standard cash advance rate of 21.74% p.a. You can have up to 80% of your approved credit limit transferred to your new card.
  • International travel insurance. You and your family will be covered from unexpected travel cancellations, personal liability, unlimited medical expenses and the loss or damage of personal items when you purchase your tickets using the Platinum Visa Card.
  • Purchase cover insurance. This covers you on most new items against loss, theft or damage for three months.
  • Interstate flight inconvenience insurance. You and your family will be covered for up to 14 days for trip cancellations, delayed flights, excessive rental car fees and lost or stolen luggage on an interstate holiday.
  • Transit accident insurance. Eligible cardholders also get coverage in the event of a sustained injury while on a trip.
  • Guaranteed pricing scheme. Shop with confidence knowing that you will be reimbursed for up to $500 if you purchase an item in an eligible store and that item later goes on sale.
  • Extended warranty insurance. This cover provides up to 12 months additional warranty for most personal items purchased with the Platinum credit card, with a manufacturer’s warranty of 5 years or less.
  • Q Rewards® Points. You can collect 2 reward points for every $1 spent on your Platinum Visa card.

Features of the Bank of Queensland Platinum Visa Credit Card

  • Annual fee. A standard annual fee of $129 applies every membership year. However, if you apply and get approved by 31 August 2017, you'll be charged a discounted annual fee of $129 for the life of the card.
  • Interest rate for balance transfers. You can transfer a balance that is up to 80% of the approved credit limit and incur no interest within the first 18 months. Any remaining balances at the end of the promotional period will attract the revert interest rate on cash advances.
  • Platinum support. You can access a dedicated 24/7 customer service team who address enquiries exclusive to Platinum cardholders.
  • Interest-free days. Enjoy up to 55 interest-free days on purchases when you pay your account balance in full each statement period.
  • Cash advance limits. Draw up to $1,000 daily from ATMs. The cash advance rate is 21.74% p.a.
  • Generous credit limits. This card has a minimum credit limit of $6,000 and a maximum limit of $30,000 depending on approval.
  • Complimentary insurances. This platinum card comes with complimentary insurance protection such as overseas travel insurance that covers trips for up to 6 months, unlimited medical expenses, property and document damage or loss, personal liability cover, and more. You’ll also get transit accident insurance coverage, purchase protection, guaranteed pricing scheme and extended warranty insurance available with this credit card.
  • Additional cardholders. BOQ allows you to get up to 4 additional cardholders at no extra charge.

How to apply for the Bank of Queensland Platinum Visa Credit Card

To take advantage of all this card has to offer, you can apply by completing the secure online application. To be considered for the BOQ Platinum Visa, you must first meet the following eligibility requirements:

Eligibility criteria

  • You must be at least 18 years of age.
  • Your credit history will need to be in good standing.
  • You must earn a minimum pre-tax income of $35,000.
  • You need to be an Australian citizen or a permanent resident of Australia.

Required documents

  • Proof of your current employment along with the contact information of your employer.
  • This should include your total gross salary plus any other sources of income.
  • Proof of your share of monthly expenses, including rental payments and utilities.
  • The total number of active credit cards you are responsible for and their available limits. Make sure to include those that you intend to transfer to this account.

Applying for this credit card offer can be of benefit if you’re looking to boost your rewards with 30,000 bonus Q Rewards® points, save with a balance transfer offer, get up to 55 interest-free days on purchases and purchase with peace of mind with comprehensive buyers insurance. As a number of platinum cards also offer similar features, you’ll need to compare your options to find the ideal one for you.

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16 Responses to Bank of Queensland Platinum Visa Credit Card – Details and Application

  1. Default Gravatar
    john | January 17, 2017

    Is there a charge on platinum visa card if used overseas

    • Staff
      May | January 17, 2017

      Hi John,

      Thanks for your question.

      Yes, BoQ Platinum Visa Card charges the following when used overseas:

      1. Overseas Cash Advance Fee = 2% of the cash advance amount or minimum of $4.00
      2. Overseas ATM Balance check = $2
      3. Overseas ATM Withdrawal Fee = $5
      4. Foreign Currency Conversion Fee (VISA) = 3.4% of transaction value

      Cheers,
      May

  2. Default Gravatar
    IVOR | August 18, 2016

    Is there an age limit for BOQ Platinum Visa card complimentary travel insurance please.

    • Staff
      May | August 30, 2016

      Hi IVOR,

      Thank you for your inquiry.

      For the BOQ Platinum Visa card complimentary travel insurance, there is no age limit for the eligible cardholder. However, the age limit will apply for the “dependent child of the cardholder. AGA will cover unmarried child of a cardholder, up to and including the age of 21, who is primarily dependent on the cardholder for their maintenance and support.

      You can find more information about BOQ complimentary travel insurance on this page.

      Cheers,
      May

  3. Default Gravatar
    Simon | February 18, 2016

    Which credit cards allow multiple balance transfers ?

    • Staff
      Sally | February 18, 2016

      Hi Simon,

      You can compare cards that allow you to conduct multiple balance transfers here.

      So long as the total transfer amount doesn’t exceed the balance transfer limit (which is usually a percentage of the credit limit), then you should be able to conduct more than one balance transfer with most cards.

      I hope this has helped.

      Cheers,

      Sally

  4. Default Gravatar
    C | February 10, 2016

    Hi, can this BOQ Plat Credit Card balance transfer offer be used to pay off debit balance of an overdraft account (e.g. Citibank Ready Credit account)? Thanks.

  5. Default Gravatar
    Al | January 29, 2016

    Hi, Does this BOQ Plat CC offer comes with a 30,000 Q Rewards points? BOQ’s website is offering the above on the same CC.
    Regards,
    Al

    • Staff
      Debbie | January 29, 2016

      Hi Al,

      Thanks for your inquiry.

      Unfortunately, this does not come with a 30,000 bonus points. Currently the offer is only for no annual fee and 0% for 16 months on balance transfers.

      For more options, kindly refer to our rewards credit card page for comparison.

      I hope this helps.

      Cheers,
      Debbie

  6. Default Gravatar
    Dick | December 31, 2015

    Hi, What happens to the reward points? Where are they directed at what ratio? Is there a maximum number of points I can accumulate in a year? Are reward points paid on ATO payments?

    Can I transfer them to airlines other than Qantas at what rate?

    Thanks
    Dick

    • Default Gravatar
      | May 30, 2016

      I have a BOQ Platinum Visa Card but don’t do internet banking so can you send me a list that I can use my Q rewards for. Also, what does concierge services mean?

    • Staff
      May | May 31, 2016

      Hi Kevin,

      Thanks for your inquiry.

      Just to confirm that finder.com.au is a comparison service and does not represent BOQ.

      If you’re unable to use the internet banking, you can contact BOQ’s Q Rewards customer care and they will be happy to assist you. I’ve forwarded BOQ’s contact details to your email.

      Concierge service is an assistance given by BOQ’s customer care team to their cardholders to attend to all their customer service needs – it’s like having your very own personal assistant on hand 24 hours a day.

      I hope this has helped.

      Cheers,
      May

    • Staff
      Sally | January 4, 2016

      Hello Dick,

      Thanks for your question.

      Your Q Points will accumulate in your Q Rewards account until you’ve redeemed them. The ratio will depend on where and how you decide to redeem your points. You can browse how you can redeem your rewards and how many points you’ll need via the Q Rewards online store. I’ve emailed you a link to the Q Rewards online store for your convenience.

      There is a cap of 240,000 points per year and you can’t earn rewards points on ATO payments.

      Yes, you can transfer your points to airlines aside from Qantas. You can see which airlines you can transfer your points to and at what rate by logging into your BOQ online account. I’ve also emailed you a link to BOQ’s page regarding flight rewards.

      I hope this has helped.

      Cheers,

      Sally

  7. Default Gravatar
    Peter | December 27, 2015

    Should I transfer my balance from another merchant, do my day-to-day purchases still qualify for the up to 55-day interest press scenario or to they accrue interest from the day of purchase?

    • Staff
      Sally | December 29, 2015

      Hi Peter,

      Thanks for your question.

      If you’re carrying a balance (from a balance transfer or from making purchases on your card), you’ll be unable to take advantage of the 55 interest-free days on purchases.

      I hope this has helped answer your question.

      Cheers,

      Sally

Credit Cards Comparison

Rates last updated June 29th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Exclusive Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent in the first 3 months, plus a $129 Virgin Australia Gift Voucher each year.
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
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
19.99% p.a. 0% p.a. for 22 months with 2% balance transfer fee $99 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.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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