BOQ Specialist Platinum Credit Card Review

Information verified correct on December 5th, 2016

Take control of your rewards with your choice of the Qantas or Velocity program

The BOQ Specialist Platinum Credit Card enables you to earn rewards, and you get to choose between Qantas Frequent Flyer and Velocity Frequent Flyer programs. The premium benefits don't end with rewards — cardholders get a comprehensive insurance package for free, they get access to a 24/7 concierge service, and they can use the services of Visa Front Line Access.

Product NameBOQ Specialist Bank Limited Platinum Credit Card with Qantas
Rewards ProgramQantas Frequent Flyer
Purchase rate (p.a.)20.50% p.a.
Annual fee$150 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.)20.50% 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
Minimum Monthly Repayment2% or $20, whichever is the greater
Minimum Income$60,000
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.
2.95% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover3 months
Available To Temporary ResidentsNo
Minimum Income$60,000
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
Annual Fee$150 p.a.
Minimum Repayment2% or $20, whichever is the greater
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee3.5% of transaction amount
Overseas Cash Advance Fee2% of the transaction amount
Overseas Emergency Replacement$0
Overseas ATM Withdrawal Fee$0
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.
2.95% of transaction value
Additional Cardholder Fee$0 p.a.
Rewards ProgramQantas Frequent Flyer
Rewards Points per $ (VISA/MC)0.5
Points ExpiryNever

BOQ Specialist Platinum Credit Card Review

If you’re a member of the Qantas or Velocity frequent flyer program, or wish to become one, using this card enables you to add points to your frequent flyer program account according to how much you spend on purchases using this card. Any purchases you do make receive protection through various insurance covers, and you can also take advantage of different travel insurance covers. You can use a concierge service or Visa Front Line Access for free, which is another plus.

Benefits of the BOQ Specialist Platinum Credit Card

  • Rewards. Every two dollars you spend on eligible purchases in Australia earn one reward point, and every dollar spent on international eligible purchases earns 1.00 reward point. Reward points you earn, whether Velocity or Qantas, depend on the rewards program you opt for at the time of applying. Access to the Qantas Frequent Flyer program for BOQ Specialist cardholders is free.
  • Complimentary insurance covers. Purchases you make using your Platinum card receive complimentary cover through purchase security insurance, extended warranty insurance, and best price guarantee. Other complimentary insurance covers you can make use of include golfer’s insurance, global hire car excess waiver, transport accident insurance, overseas travel insurance, and domestic flight inconvenience insurance.
  • Concierge service. This round-the-clock global service can help you make reservations for restaurants, you can turn to it to book flight tickets and make hotel reservations, it can assist you in choosing and sending gifts, and it also offers various work-related services.

BOQ Specialist Platinum Credit Card Features

  • Annual fee. Using this platinum credit card requires that you pay an annual fee of $150 for the life of the card.
  • Rewards. Irrespective of whether you choose the Qantas or Velocity frequent flyer program, there is no cap on the number of points you can earn. For your points, you can access travel rewards and entertainment rewards, or choose from an array of merchandise.
  • Complimentary insurance covers. You get various travel insurance covers when you use this card to book return travel tickets, and certain other insurance covers provide protection to purchases made using this card.
  • Interest-free days. You can get as many as 55 interest-free days on purchases if you pay your account’s closing balance in full every month, before the due date specified on your statement.
  • Concierge service. A global concierge service is in place to provide assistance in spheres like travel, entertainment, and work.
  • Front Line Access. This service gives you the ability to reserve tickets for concerts, live shows, and sporting events, before they go on sale.
  • Card security. While Orion monitors your account activity for suspicious transactions and notifies you upon detecting any, Verified by Visa provides additional security when your card details are used for transactions online.
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How to apply for the BOQ Specialist Platinum Credit Card

To apply for this card, you can submit an online application or getting in touch with BOQ Specialist Bank directly.

Before applying, check if you meet the required eligibility criteria, which are as follows:

  • You are a permanent resident of Australia
  • You are over 18 years of age
  • You earn at least $60,000 p.a.

The application requires that you provide a host of information, so prepare to part with the following:

  • Personal details like your driver’s license number, marital status, and number of dependents
  • Employment-related information like your employment status, profession, and your employer’s name and contact details
  • Financial details surrounding your income, assets, and liabilities

Applying for this card can make sense if you plan to make use of the rewards program and other extras, but since this is not the only card of its kind, it can be a good idea to compare it with similar offerings before deciding.

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2 Responses to BOQ Specialist Platinum Credit Card Review

  1. Default Gravatar
    Lauren | January 18, 2016

    How do I roughly work out how much interest I would pay if I transferred $600 from my credit card into another account & paid it back within 3 weeks? Thanks

    • Staff
      Debbie | January 23, 2016

      Hi Lauren,

      Thanks for your inquiry.
      Please note that you’ve come through finder.com.au, an online comparison service and not BOQ Specialist.

      Unfortunately, there is currently no balance transfer offer for BOQ Specialist Platinum Credit Card. You may need to contact BOQ Specialist directly to verify if they can accept balance transfer for a short term such as 3 weeks.

      For a comparison of balance transfer credit cards that offer 0% interest, kindly refer to this page.

      I hope this helps.

      Cheers,
      Debbie

Credit Cards Comparison

Rates last updated December 5th, 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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