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Our verdict

Earn 100,000 bonus Q Rewards points and get 0% interest on balance transfers for 12 months, with a 1% balance transfer fee.

The BOQ Platinum Visa is a platinum credit card that gives you a competitive earn rate of 2 Q Rewards points per $1 spent on eligible transactions, with redemption options including travel, retail items, gift cards or transfers to a partner program such as Velocity Frequent Flyer or flybuys. Right now, you can get 100,000 bonus Q Rewards points when you apply by 30 April 2024 and spend $4,500 on eligible transactions within the first 3 months from card approval. While it’s not the biggest bonus point offer on the market, it would be enough to redeem $250 worth of Woolworths WISH or Myer gift cards (one $200 gift card and one $50 gift card) for 89,400 points.

This card also offers a discounted annual fee of $65 for the first year (reverting to $129 p.a. after that) and a 0% p.a. balance transfer rate for 12 months. Keep in mind that there is a 1% balance transfer fee and a 21.74% p.a. revert rate applies after the introductory period.

Pros

100,000 bonus Q Rewards points
0% p.a. on balance transfers for 12 months
$65 annual fee for the first year ($129 p.a. thereafter)
2 Q Rewards points per $1 spent on eligible purchases
Complimentary travel and purchase protection insurance

Cons

Charges a 1% BT fee
Relatively high purchase interest rate of 20.74% p.a.
Balance transfer reverts to the 21.74% p.a. cash advance rate after the promotional period

The BOQ Platinum Visa is suited to people who want rewards and travel perks while saving on credit card costs. It currently offers 100,000 bonus Q Rewards points when you meet the spend requirement and access to complimentary travel insurance and purchase protection insurance. You’ll also save half of the annual fee and get a 0% interest rate on balance transfers in the first year. Remember to factor in the 1% balance transfer fee and the revert rate of 21.74% p.a. that applies after the introductory period.

Details

Product details

Product Name	BOQ Platinum Visa Credit Card
Balance transfer rate p.a.	0% for 12 months with 1% balance transfer fee, then 21.74%
Balance transfer limit	80% of available limit
Purchase rate p.a.	20.74%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	21.74%
Min credit limit	$6,000
Max credit limit	$30,000
Card type	Visa

Eligibility

Available to temporary residents	No
Minimum income	$35,000
Joint application	No

Rewards

Rewards program	Q Rewards
Bonus points	100,000
Rewards points per $ spent	2
Rewards points cap	Uncapped

Fees

Annual fee	$65 first year ($129 after)
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3.4%
Cash advance fee	3.5% or $3.50, whichever is greater
Overseas cash advance fee	2% of transaction amount or $4 (whichever is greater, capped $30)
Additional cardholder fee	$0
Number of additional cardholders	4

How to apply

You can apply for the BOQ Platinum Visa credit card online in around 10 minutes. Get started now by making sure you meet the following eligibility criteria and have all the documents and details you need for the application.

Eligibility criteria

Minimum income. You must earn a minimum taxable income of $35,000 per year.
Eligible balance transfer debt. If you're planning to transfer a balance to the BOQ Platinum Visa, you can transfer up to 80% of your approved credit limit from non-Citigroup credit cards, store cards or loans.

New cardholder. You'll only be eligible for introductory benefits if you're a new cardholder.
Residency. You must be an Australian citizen or permanent resident.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, date of birth, email address, residential address, phone number, marital status and number of dependents. You also need to provide a valid form of ID, such as your driver's licence number.
Employment details. You'll be asked about your employment status, including your current job title, salary, length of employment and employer's contact details. You may also need to provide recent payslips or other documents to help verify these details.
Financial details. This covers any other forms of income, such as government payments or pensions, as well as savings and other assets. You also need to share details of your existing debts and liabilities, such as loans, credit cards and ongoing living expenses.
Balance transfer details. If you want to take advantage of the introductory balance transfer offer on this card, you will need to provide details of your existing debt. This includes the amount of debt you want to transfer, the account name, account number and the institution's BSB.

Card benefits

100,000 bonus points. Get 100,000 bonus Q Rewards points when you apply by 30 April 2024 and spend $4,500 on eligible purchases in the first 3 months from card approval. The bonus points will be added to your Q Rewards account within 60 days of meeting the spend requirement.
0% balance transfer offer. Apply by 30 April 2024 and enjoy a 0% p.a. interest rate on balance transfers for the first 12 months, with a 1% balance transfer fee. At the end of the introductory period, any remaining charges will attract the card's cash advance rate, currently 21.74% p.a.

Discounted first-year annual fee. Save with a $65 annual fee for the first year, reverting to $129 p.a. thereafter.
Q Rewards program. This card offers 2 points per $1 spent on eligible transactions, with no points cap. Eligible transactions include most everyday purchases, with transactions that do not earn points including cash advances, balance transfers, BPAY payments and government charges.
Complimentary travel insurance. Enjoy comprehensive international travel insurance for up to 6 months when you use your BOQ Platinum Visa credit card and/or Q Rewards points to pay for your overseas travel ticket. You can also get cover for your eligible spouse and/or dependents travelling with you. As well as overseas travel insurance, you can get access to domestic travel insurance for eligible trips when you book with your card.
Purchase insurance covers. Get peace of mind for your shopping with complimentary extended warranty cover and purchase protection insurance.

Mobile wallets. You can link your BOQ credit card with Samsung Pay and Apple Pay to make contactless payments using your eligible device upon checkout.

Rates & fees

Annual fee. Outside of the introductory period, this card charges a standard annual fee of $129.
Purchase interest rate. The BOQ Platinum Visa charges a 20.74% p.a. interest rate on purchases.

Interest-free days. If you pay your total closing balance each month, you can enjoy up to 55 days interest-free on purchases. Note that interest-free days are not available when you are paying off a balance transfer debt.
Cash advances. ATM withdrawals and other cash-equivalent transactions made with this card attract an interest rate of 21.74% p.a. from the date they are made and are subject to a fee of 3.5% of transaction amount or $3.50 (whichever is greater).
International transaction fee. A fee of 3.4% applies for each transaction made overseas or online in a foreign currency.

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Amy Finder

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Allan

September 13, 2023

please advise link to apply for a BOQ Platinum CC Allan

Amy Bradney-George Finder

September 15, 2023

Hi Allan,

This credit card isn’t available through Finder right now, so you should contact BOQ directly to apply. I hope this helps!

Casey mcdonald

June 22, 2023

Do I need to activate my boq travel insurance linked to my plat credit card?

Amy Bradney-George Finder

June 22, 2023

Hi Casey,

This cover is activated when you use the card to pay for your return travel ticket before you go overseas. You could also get cover by using Q Reward Points or booking with the Take Flight program. This covers overseas trips that are up to 6 months long. If you have any other questions you can call the insurance provider, Allianz Global Assistance, on 1800 072 791. I hope this helps.

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Muller

July 14, 2019

If you have been with BQ for over 30yrs, have a top credit rating, plus have more than the required income stated to get a BQ card… plus you only have one other credit card which is with another bank, that you pay on automatic debit in full every month, so that means you do not have any debt to transfer to a BQ card, wouldn’t that make you eligible to have a BQ Platinum Card ?

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Faye Manuel Finder

July 16, 2019

Hi Muller,

Thanks for contacting Finder.

You can be eligible to apply for a BOQ Platinum Visa Credit card if meet the following eligibility criteria and required documents:

– Minimum income. You must earn a minimum taxable income of $35,000 per year.

– Residency. You must be an Australian citizen or permanent resident.

– Age. You must be at least 18 years old to apply.

– Personal details. This includes your full name, date of birth, email address, residential address, phone number, marital status and number of dependents. You also need to provide a valid form of ID, such as your driver’s licence number.

– Employment details. You’ll be asked about your employment status, including your current job title, salary, length of employment and employer’s contact details. You may also need to provide recent payslips or other documents to help verify these details.

– Financial details. This covers any other forms of income, such as government payments or pensions, as well as savings and other assets. You also need to share details of your existing debts and liabilities, such as loans, credit cards and ongoing living expenses.

I hope this helps.

Cheers,

Faye

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robin

October 25, 2017

what can i use rewards points for?

Maria

October 25, 2017

Hey Robin,

Thank you for your inquiry.

For the Bank of Queensland Reward Points, you can redeem it for:

– Merchandise

– Cash Rewards

– Travel Centre

– Velocity

You can read more about BOQ Rewards Credit Card Rewards Program.

I hope this helps.

Best,

Maria

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John

January 17, 2017

Is there a charge on platinum visa card if used overseas

May Finder

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

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BOQ Platinum Visa Credit Card

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