Bank of Queensland Platinum Credit Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

The Bank of Queensland Platinum Credit Card

With the Bank of Queensland Platinum Credit Card, cardholders can enjoy a seriously rewarding experience. Currently, new cardholders will earn 100,000 bonus Q Rewards® Points on top of a great everyday earn rate. Plus, 0% p.a. on balance transfers for 12 months, reduced annual fee for the first year, and a full suite of insurance covers.

What we love...

When you compare rewards cards, you need to determine each card’s value to decide whether it’s right for you.

As long as you meet the requirements and clear your balance before it starts accruing interest, you are essentially earning rewards for free with this card. If you apply for a new Bank of Queensland Platinum Credit Card, are approved, and spend at least $4,500 on eligible transactions in the first 90 days from card approval, you can enjoy a bountiful 100,000 bonus Q Rewards® Points.

In terms of everyday earnings, you will earn 2 Q Rewards points for every $1 you spend on eligible transactions. There are no points capping and no points expiry, so you can take as long as you like to stack up points for that perfect reward. As for points redemption options, these are wide-ranging within the Q Rewards program, including travel, merchandise, gift cards, and conversion to flybuys points. You may also redeem points to cover eligible purchases or your annual fee.

Aside from the intro offers we have already mentioned, this card also has a pretty nice balance transfer offer, providing 0% p.a. on balance transfers for 12 months with 1% balance transfer fee. Bear in mind, while the card typically offers up to 44 days interest-free on purchases to cardholders who clear their balance each month, there are no interest- free days on accounts with a balance transfer. To be eligible for the offer, you must apply and be approved, and you may transfer up to 80% of your approved credit limit, from non-Citi-issued cards.

Lastly, this platinum card offers a reduced annual fee for the first year, which makes it not only accessible but also allows cardholders to experience its incredible perks without breaking the bank.

What’s not so great...

Rewards cards, in general, tend to have higher interest rates. The Bank of Queensland Platinum Credit Card is no exception. If you want to see real value on this card, clear the balance before it starts accruing interest.

Why should you choose this card?

If you want an alternative to other, perhaps better-known rewards programs, the Bank of Queensland Platinum Credit Card may be a worthy option. You can earn points on the very flexible Q Rewards program, while enjoying some very appealing extras. Aside from the extras already mentioned, you can take advantage of these travel and purchase insurance covers:

• International Travel Insurance: Cover for you and your family for medical expenses, trip cancellation due to unexpected circumstances, loss or theft of personal items and more.
• Interstate Flight Inconvenience Insurance: Cover for events like flight delays, cancellations, baggage delays and personal item damage for domestic travel within Australia.
• Transit Accident Insurance: Cover for you, your spouse and or/dependent children for specific injuries sustained while on a trip, which has been paid for on your card.
• Purchase Cover Insurance: Covers products lost, stolen or damaged anywhere in the world within 90 days of purchase.
• Extended Warranty Insurance: Provides extended warranty on eligible items.
• Guaranteed Pricing Scheme: Offers a refund of the price difference when you purchase in-store and then see the same product advertised at a lower price.

Terms and conditions apply, so be sure to read the PDS for full info.

If you are a BOQ home loan customer, you can enjoy a $0 annual fee when you apply and get approved for a new Bank of Queensland Platinum Credit Card.

With its flexible Instalment Plans. BOQ also helps you manage your repayments on your purchases into monthly instalments over a set term from 1 to 5 years.

On top of that, you can benefit from access to a personal concierge service, available 24/7, helping you with everything from organising your next travel adventure to buying the perfect gift for your mum on her birthday. Another nice extra allows you to add up to 4 additional cardholders to the account at no extra cost, helping you to earn points even faster.

Overall Rating

Offering plenty of reasons to choose this card, the Bank of Queensland Platinum Credit Card provides an excellent everyday earn rate on top of 100,000 bonus Q Rewards® Points offer. Plus 0% p.a. on balance transfers for 12 months with 1% balance transfer fee and reduced first year annual fee.