BOQ Specialist Signature Credit Card – Velocity Points

Last updated: Jan 28, 2020

Earn 20,000 bonus Velocity Points, enjoy Priority Pass airport lounge access and complimentary travel insurance with the BOQ Specialist credit card.

You can use the BOQ Specialist credit card to manage both your personal and business costs. Plus, you can reward your spending with Velocity Points. You’ll earn up to 1 point per $1 spent on eligible transactions and can boost your points with 20,000 bonus Velocity Points when you meet the spend requirement.

This card is packed with travel perks and cardholders can also easily manage business finances by linking the account with financial accounting systems.

20.5% p.a.

Balance transfer rate

20,000

Bonus points

20.5% p.a.

Purchase rate

Reward point

Per $ spent

Details

Product Name	BOQ Specialist Signature Credit Card with Velocity Points
Rewards program	Velocity Frequent Flyer
Balance transfer rate	20.5% p.a.
Balance transfer revert rate	Cash Advance Rate (20.5% p.a.)
Purchase rate	20.5% p.a.
Annual fee	$400
Interest-free period	55 days
Cash advance rate	20.5% p.a.
Min credit limit	$15,000
Card type	Visa
Foreign currency conversion fee	3.2%

Available to temporary residents	No
Joint application	No

Pros

20,000 bonus Velocity Points when you use your credit card 10 times in the first 2 months
Complimentary travel insurance
Personal concierge and Visa Front Line Access
Priority Pass airport lounge access

Cons

Relatively high annual fee of $400

Rewards program	Velocity Frequent Flyer
Bonus points	20,000
Rewards points per $ spent	1

Annual fee	$400
Minimum monthly repayment	2% of the closing balance or $20, whichever is greater
Late payment fee	$0
Foreign currency conversion fee	3.2%
Overseas ATM withdrawal fee	$0
Additional cardholder fee	$0
Number of additional cardholders	9

Expert review

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The BOQ Specialist credit card offers a number of frequent flyer and business benefits, but it’s only suited to a niche group of professionals. You must be a qualified account or a medical, dental or veterinary professional or student to apply for this card. If you don’t work in any of these industries, you should consider a different frequent flyer business credit card.

You can choose to earn either Velocity or Qantas Frequent Flyer Points with this card. If you’d prefer Qantas Points, see this review of the BOQ Specialist credit card instead. Like most business credit cards, it charges a high annual fee and purchase interest rate.

How to apply

You can apply for the BOQ Specialist credit card online. Before you get started, check if you meet the eligibility criteria and have the necessary details to complete the application.

Eligibility criteria

Profession. You must confirm that you're a medical, dental or veterinary professional or student, or a qualified account.
Age. This card is only available to people aged at least 18 years old.

Residency. You'll need to be an Australian resident to apply.

Required documents

Personal details. This includes your full name, date of birth, gender, marital status and contact details.
Employment. Confirm your current employment and provide your business details.
Finances. This includes your income, assets and liabilities. You'll need to include recent payslips, tax returns and other financial statements.

Card benefits

Bonus points. If you use your credit card at least 10 times within the first 2 months, you'll earn 20,000 bonus Velocity Points.
Earn Velocity Points. When you spend in Australian dollars, you'll collect 1 Velocity Point per $1 spent up to 10,000 points each statement period and 0.5 points per $1 spent after that. You'll also earn 1.5 Velocity Points per $1 spent on international transactions. You can redeem your points for flights with Virgin Australia and its partners, accommodation, travel deals and more.

Airport lounge access. You can travel in style thanks to your complimentary Priority Pass standard membership, giving you unlimited visits to the 1,200 Priority Pass airport lounges around the world.
Complimentary travel insurance. You can travel safely and save with complimentary travel insurance for up to 120 days. The insurance covers you, your spouse and any dependent children travelling with you as long as you use the card to pay for the return tickets.
Visa Luxury Hotel Collection. Enjoy the best available rate guarantees, automatic room upgrades when available, complimentary in-room Wi-Fi and continental breakfast and late check-out with at over 900 luxury hotels around the world.
Concierge service. Whether you want to book hotel reservations, get tickets to a concert or organised a gift for a loved one, you can contact your Visa concierge for help.
Simplified accounting. This card is compatible with financial accounting systems like XERO and MYOB, making it simple to track your business expenses. You can also request separate statements for your personal and business expenses.

Rates & fees

Annual fee. These perks come at the cost of a $400 p.a. annual fee.
Interest rate. Your purchases and cash advances will attract a 20.5% p.a. interest rate.

Interest-free days. When you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days on purchases.
Foreign transactions. If you use your card to shop overseas or with an international merchant, you'll be charged a 3.2% foreign transaction fee.
Additional cardholders. You can manage employee spending by linking 9 additional cardholders to the account.
Security. To prevent unauthorised transactions, your account is monitored 24/7 by Verified by Visa and Orion.

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BOQ Specialist Signature Credit Card – Velocity Points