BOQ Specialist Signature Credit Card Review

Information verified correct on December 4th, 2016

Choose between earning Qantas and Velocity points, access a number of premium benefits and get up to 55 interest-free days on purchases.

At the time of applying for the BOQ Specialist Signature Credit Card, you have the choice of linking it to either the Qantas or Velocity frequent flyer programs.

BOQ provides cardholders with complimentary travel insurance, they get make use of a concierge service and Front Line Access for free, and you also get Priority Pass airport lounge access.

Product NameBOQ Specialist Bank Limited Signature Credit Card with Velocity Points
Rewards ProgramVelocity Frequent Flyer Program
Purchase rate (p.a.)20.50% p.a.
Annual fee$400 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.
$15,000
Minimum Monthly Repayment2% or $20, whichever is the greater
Minimum Income$120,000
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$120,000
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.
$15,000
Annual Fee$400 p.a.
Minimum Repayment2% or $20, whichever is the greater
Late Payment Fee$10
Over Limit Fee$0
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.
Number of Additional Cardholders9
Rewards ProgramVelocity Frequent Flyer Program
Bonus Points on Sign-up20,000
Rewards Points per $ (VISA/MC)1
Points ExpiryNever

BOQ Specialist Signature Credit Card Review

This credit card that BOQ Specialist provides is one that comes with a number of features, with its main draw being that it gives cardholders the ability to choose between two popular frequent flyer programs. If you follow certain simple guidelines, you can earn bonus points early on. Cardholders can look forward to a number of travel benefits, and they can turn to multiple services for concierge and entertainment solutions.

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Benefits of the BOQ Specialist Signature Credit Card

  • Choice of reward programs. You can choose between the Velocity and Qantas Frequent Flyer programs to earn rewards on purchases, and you get multiple options to redeem your points through both. Every one dollar you spend on eligible purchases in Australia earns you 1 Velocity or Qantas Point, and you earn 2 Velocity or Qantas points for every dollar you spend on eligible overseas purchases.
  • Earn bonus points. If you use your Signature credit card 10 times within the first two months, you stand to earn 20,000 bonus points. This offer applies no matter which frequent flyer program you choose.
  • Travel benefits. Purchasing return travel tickets with this card brings with it extensive travel insurance for up to 90 days, and it provides cover to you, additional cardholders, your spouse, and all dependant children. Priority Pass gives you access to more than 600 airport lounges spread across 90 countries and 300 cities. Through the Visa Luxury Hotel Collection, you get access to room upgrades, late check-outs, and guaranteed best rates.

BOQ Specialist Signature Credit Card Features

  • Annual fee. You'll be charged a $400 annual fee to hold this Specialist Credit Card.
  • Rewards program. Irrespective of the frequent flyer program you opt for, there is no cap on the maximum number of points you can earn. When it comes to redeeming your travel points you can choose from travel and entertainment-related rewards or exchange them for merchandise.
  • Interest-free days. By paying the account’s closing balance completely before each due date, you can get as many as 55 interest-free days on purchases.
  • Complimentary insurances. This card comes with various complimentary insurance covers, which include overseas travel insurance, domestic flight inconvenience insurance, transport accident insurance, global hire car excess waiver, golfers’ insurance, best price guaranty, purchase security insurance, and extended warranty insurance.
  • Discounted Visa Airport SpeedPass. You get a 15% discount if you opt for this pass that brings with it fast-track immigration at more than 280 international airports.
  • Concierge and entertainment. The 24/7 global concierge service can assist you in matters relating to travel, work, and entertainment. Visa Front Line Access enables you to reserve tickets for some of the most popular events in Australia, and Visa Entertainment provides access to a range of offers and pre-sale tickets.
  • Split statements. If you need separate cards for personal and business use you can get multiple cards linked to a single account, and receive split statements for each.
  • Additional cards. You can request an additional card for anyone over 16 years of age, and you don’t have to pay any additional card fee. You can get up to 9 additional cards linked to your primary account.
  • Visa payWave. When you shop at establishments that display the payWave logo you can simply wave your Signature credit card in front of the terminal to make payments of under $100.
  • Card security. Orion monitors your account round-the-clock to prevent unauthorised activity, and Verified by Visa provides extra protection when you use your card online.
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How to apply for the BOQ Specialist Signature Credit Card

You can download an application from the BOQ Specialist website, and you can then send the completed application by mail or fax. Make sure you meet the following eligibility criteria before moving forward:

  • You’re at least 18 years old
  • You’re a permanent resident of Australia
  • You earn more than $120,000 p.a.

Completing the application requires that you part with different types of information, which comprises the following.

  • Personal, identification, and contact details
  • Employment details
  • Financial details about your income, assets, and liabilities
  • You’ll have to provide copies of two recent payslips. Self-employed individuals have to submit financial statements for the last two years, and retired applicants have to provide copies of tax returns for the last two years.

If you’re looking for a credit card that does not fall short on providing top-of-the-line services, this card requires your attention. Given that there are other cards that offer similar features, don’t apply before you compare it with a few others.

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Credit Cards Comparison

Rates last updated December 4th, 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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