BOQ Platinum Visa Credit Card

Earn up to 120,000 bonus Q Rewards points and save with 0% balance transfer rate for 14 months.

Get a new BOQ Platinum card and you will earn up to 120,000 bonus points when you meet the spend requirements. To give you an idea, 120,000 Q Rewards points is enough for a $320 Myer gift card (114,500).

If you’ve got existing debt you’d like to consolidate, you can save with a 0% p.a. balance transfer offer for the first 14 months. Additionally, you can take advantage of complimentary travel insurance and purchase insurance covers.

Amy Bradney-George

Last Updated Jul 1, 2021

0% p.a.

Balance transfer rate

for 14 months

120,000

Bonus points

20.74% p.a.

Purchase rate

Reward points

Per $ spent

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Details

Product Name	BOQ Platinum Visa Credit Card
Rewards program	Q Rewards
Balance transfer rate	0% p.a. for 14 months
Balance transfer revert rate	Cash Advance Rate (21.74% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	20.74% p.a.
Annual fee	$129
Interest-free period	Up to 55 days on purchases
Cash advance rate	21.74% p.a.
Min credit limit	$6,000
Max credit limit	$30,000
Card type	Visa
Foreign currency conversion fee	3.4%

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

Pros

Up to 120,000 bonus Q Rewards points
0% p.a. on balance transfers for 14 months, with no balance transfer fee
Complimentary travel and purchase insurance covers

Cons

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

Rewards program	Q Rewards
Bonus points	120,000
Rewards points per $ spent	2
Rewards points cap	Uncapped

Annual fee	$129
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

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The BOQ Platinum Visa is a rewards credit card that also offers complimentary travel insurance when you use it to book overseas trips. It earns 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.

The bonus point offer on this card means you’ll earn 60,000 when you apply by 31 January 2022 and spend $3,000 on eligible purchases in the first 60 days from approval, additional 60,000 points when you spend $10,000 in the first year on eligible transactions. With this offer you’d have enough points for $325 worth of Woolworths Wish gift cards (119,110 points).

How to apply

You can apply for the BOQ Platinum Visa credit card online in around 10 minutes. Get started now by checking that 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 Low Rate, 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

Up to 120,000 bonus points. You will earn 60,000 when you apply by 31 January 2022 and spend $3,000 on eligible purchases in the first 60 days from approval, additional 60,000 points when you spend $10,000 in the first year on eligible transactions. 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 31 January 2022 and enjoy a 0% p.a. interest rate for the first 14 months on balances transferred, with no balance transfer fee. At the end of the introductory period, any remaining balance transfer amount attracts the card's cash advance rate, currently 21.74% p.a.

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 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 transit accident insurance and interstate flight inconvenience 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, purchase protection insurance and a guaranteed pricing scheme.
Concierge service. Save time on life admin by calling up the platinum concierge on this card when you need to book travel, restaurant reservations, show tickets or even if you need to find a present for someone.
Mobile wallets. You can link your BOQ credit card with Samsung Pay to make contactless payments using your eligible device upon checkout.

Rates & fees

Annual fee. 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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20 Comments

Muller
July 15, 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 ?

finder Customer Care

Faye
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

robin
October 25, 2017

what can i use rewards points for?

Maria
October 26, 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

John
January 17, 2017

Is there a charge on platinum visa card if used overseas

finder Customer Care

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

IVOR
August 18, 2016

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

finder Customer Care

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 to 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.

Please read more about BOQ complimentary travel insurance.

Cheers,
May

Simon
February 18, 2016

Which credit cards allow multiple balance transfers ?

finder Customer Care

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

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