Bank of Queensland Platinum Visa Credit Card – Details and Application

Information verified correct on December 10th, 2016

BOQ is offering a platinum card with 30,000 bonus Q Rewards points, 0% p.a. for 18 months on balance transfers all for a discounted annual fee of $99 for the first year.

Earn 30,000 bonus Q Rewards points with BOQ Platinum Visa Credit Card when you meet the minimum spend requirement, plus a promotion of 0% p.a. for 18 months on balance transfers and $99 annual fee for the first year if you apply and get approved by 28 February 2017.

Product NameBoQ Platinum Visa 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 date28 February 2017
Annual fee$99 p.a. annual fee for the first year ($199 p.a. thereafter)
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%
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
Complimentary Travel Insurance Cover6 months
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$99 p.a. annual fee for the first year ($199 p.a. thereafter)
Minimum Repayment2%
Late Payment Fee$10
Over Limit Fee$40
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 if you apply by 28 February 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.
  • Discounted annual fee of $99 for the first year.

Cons

  • This card has a reasonably high purchase rate of 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 between 1 September 2016 and 28 February 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 save money with a promotional annual fee of $99 in the first year ($199 p.a. thereafter) and 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 between 1 September 2016 and 28 February 2017 and spend $3,000 within 3 months of card approval.
  • Balance transfer offer. If you open your BOQ Platinum Visa Card between 1 September 2016 and 28 February 2017, you can have up to 80% of your approved credit limit transferred to this card and take advantage of 0% p.a. interest 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.
  • 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 rewards points for every $1 spent on your Platinum Visa card.

Features of the Bank of Queensland Platinum Visa Credit 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.
  • Annual fee. Get a discounted annual fee of $99 for the first year if you apply by 28 February 2017 and are approved. A standard annual fee of $199 applies every membership year afterwards.
  • 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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14 Responses to Bank of Queensland Platinum Visa Credit Card – Details and Application

  1. 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

  2. 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

  3. 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.

  4. 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

  5. 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

  6. 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 December 10th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
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
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. 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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