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Bank of Queensland Platinum Visa Credit Card

Purchase rate
20.74% p.a.
Balance transfer rate
0% p.a. for 14 months and then 21.74% p.a.
Annual fees
$129 $0 when you spend over $12,000 p.a, $65 in the first year
Interest free days on purchases
55

Mozo editorial review Bank of Queensland Platinum Visa Credit Card

Last updated: 1 July 2020.

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What's hot
  • Two 2019 Mozo Experts Choice Awards
  • Up to 80,000 bonus Q Rewards points (min $3k spend in first 60 days)
  • $64.50 annual fee for first year ($129 after)
What's not
  • $30 late payment fee
Mozo snapshot

With the Platinum card from the Bank of Queensland, you earn Q Rewards which you'll be able to redeem for a wide range of travel, flight and gift card options. As a platinum cardholder, you'll get platinum perks like free international travel insurance and concierge service. What's more, cardholders will be able to earn 80,000 bonus Q Rewards Points when they spend at least $3,000 in the first 60 days. 

Even better, the Platinum Visa Credit Card was the recipient of not one, but two 2019 Mozo Experts Choice Awards for best Premium Rewards Credit Card and best Velocity Frequent Flyer Premium Credit Card.

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Key features

The Bank of Queensland Platinum has a high 20.74% purchase rate but if you pay off your balance in full each month you get 55 interest free days. If you've got debt to carry over, there is a handy 0% rate on balance transfers for 14 months but this reverts to the cash advance interest rate of 21.74% so be sure to knock over that debt early while the interest rate is low.

You can snag this card with a reduced $64.50 annual fee at all for the first year though this will rise to the ongoing annual fee of $129 per year afterwards.

If you're a regular overseas traveller you can get good value out of this one, as the card comes with free international travel insurance, extended warranty and purchase cover insurance. The BOQ Platinum card also comes with a guarantee pricing scheme, which will cover you the cost of an item if it goes on sale within 60 days from when you purchased it (as long a the price difference is greater than $75).

With the Bank of Queensland Q Rewards program cardholders earn 2 rewards points per dollar spent. Rather than directly linking points with an airline rewards program, with Q Rewards you can fly with any airline. You can also earn bonus points by shopping with BOQ partners. Plus, new cardholders will be able to earn up to 80,000 bonus Q Rewards Points when they spend at least $3,000 on the card in the first 60 days.

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Who is it good for

As this platinum card is not linked to any specific airline program it would suit those who prefer to play it by ear with regards to where and with what airline they travel.

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Any catches

While in the first year you'll a half-price annual fee of $64.95, it bumps up to $120 every year after. Similarly, there is a 14-month 0% rate on balance transfers, this reverts to the high cash advance interest rate of 21.74% if you don't dump your debt before that period.

Rewards program details

Rates and fees information correct as at 1 October 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
What your points get you

Fly Sydney to London return

358,836 points

Fly Sydney to Melbourne one-way

23,402 points

$100 Giftcard

35,800 points

$100 Cash

40,000 points

Points earning

2 points per dollar on Visa, uncapped

Rewards scheme

Redeem your points for travel, gift cards, retail rewards and shopping vouchers.

You can get flights via Virgin Australia vouchers, Flight Centre Vouchers or TakeFlight.

Special offers

Receive 80,000 bonus Q Rewards points when you spend $3,000 on Eligible Transactions in the first 60 days.

Value of rewards points

Spend $20,000 (Visa)

Spend $17,900 (Visa)

Spend $11,701 (Visa)

Spend $179,418 (Visa)

Uncapped

Never

How do we calculate the rewards?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,

  • figure out how many flights or gift cards or cashback credits you could get for those points,

  • work out what that's actually worth to you,

  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.

  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.

  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.

  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.

  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.

  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.

  • Shopping rewards are based on $100 gift cards from a major national department store.

  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Close

Rate and fee details

Rates
  • 20.74% p.a.

  • none

  • 0% p.a. for 14 months and then 21.74% p.a.

  • yes

  • 21.74% p.a.

  • 55

Fees
  • $129.00

  • $65 in the first 1 year

  • $12,000.00

  • none

  • $30.00

  • 3.5%, min $3.50

  • 3.40%

  • $2.00

  • $7.00

  • $0.00

Features
  • $30.00

  • 2.0

  • 4

  • none

Payment options

Samsung Pay

Rewards privileges

Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing

Customer Reviews

How are Bank of Queensland credit cards rated by the Mozo community?

Overall
7.3/10
Price
6.5/10
Features
6.5/10
Customer service
7.3/10
Convenience
7.6/10
Trust
7.5/10

Latest reviews of Bank of Queensland Platinum Visa Credit Card

  • Overall 8/10
    The points are not great.

    The points are only okay.

    Read full review

    The points are only okay.

    Price
    8/10
    Features
    6/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    8/10
    Less
    Dallas, Queensland reviewed 4 months ago
  • Overall 10/10
    Superb customer service, in achieving top results.

    Since inception, this bank has proved time and time again how flexible they are to our personal needs, right across their many and varied services, that represent our ongoing financial commitment to them.

    Read full review

    Since inception, this bank has proved time and time again how flexible they are to our personal needs, right across their many and varied services, that represent our ongoing financial commitment to them.

    Price
    8/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Paul, Queensland reviewed 7 months ago
  • Overall 9/10
    Superb Customer Service

    The bank staff treat you as if you matter to them

    Read full review

    The bank staff treat you as if you matter to them

    Price
    8/10
    Features
    8/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Cheryl, Western Australia reviewed about 4 years ago
  • Overall 8/10
    Great customer service

    Excellent customer service. Very few branches so it's not always convenient

    Read full review

    Excellent customer service. Very few branches so it's not always convenient

    Price
    5/10
    Features
    7/10
    Customer service
    10/10
    Convenience
    2/10
    Trust
    8/10
    Less
    Greg, Victoria reviewed almost 5 years ago
  • Overall 9/10
    So many benefits, I can't use them all!

    Great benefits with the platinum card and competitive rates.

    Read full review

    Great benefits with the platinum card and competitive rates.

    Price
    6/10
    Features
    10/10
    Customer service
    6/10
    Convenience
    8/10
    Trust
    10/10
    Less
    Cam, Victoria reviewed almost 5 years ago
Bank of Queensland

About Bank of Queensland

Bank of Queensland is Australia's fastest growing retail bank, and has come a long way from its origins as a regional Queensland bank. BOQ today boasts a wide array of banking services and 200 branches around Australia. Bank of Queensland aims to give you greater control over the management of your finances and offers everyday banking products including credit cards, home loans, term deposits, savings accounts and bank accounts.

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