BOQ Platinum Visa Credit Card: 60000 Velocity Pts (Converted from 180,000 Q Pts) with $4500 Eligible Spend in 3 Months, $149 Fee

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Crowing on 15/11/2024 - 21:31 boq.com.au (122 clicks)
Last edited 18/11/2024 - 11:55 by 1 other user

This deal may not appeal to everyone but for those who are out of credit cards to churn, this offer from BOQ offers some value. This is especially so given that some banks are increasing the exclusion periods for sign up points (WBC @24 months and NAB @18 months).

Offer

• Take out a BOQ Platinum Visa Credit Card and earn 60,000 Velocity Points (converted from 180,000 Q Rewards® points) when you spend $4,500 on Eligible Transactions within 3 months from card approval.
• $149 p.a annual fee.
• 0% p.a for 12 months on Balance Transfers (BT), with a 1% BT fee.

The additional kicker here is the BT promotion. BOQ, similar to Citi allows for BTs to made directly into a BSB and Account Number. This means you could have up to 80% of your credit limit sitting in your offset account or high interest saving account for ~12 months (with a one off 1% BT fee). The higher the credit limit, the more appealing this offer is.

Related Stores

Bank of Queensland

Velocity Frequent Flyer

Marketplace

• 

  abs898 on 15/11/2024 - 21:42

  +2

  Virgin Money Flyer card is a much better deal than getting 60k for $60 yearly fees and $120 in travel credit. There is no stopping from churning that card multiple times a year. Also good to stack with the bonus $30k offer when its available.

  • 

    Crowing on 15/11/2024 - 21:49

    +1

    Yeah, I’d recommend the virgin flyer over the BOQ offer any day of the week, but for those who still have that card open or only recently closed it, this offer is an ok option. The one advantage this one has over the virgin flyer is the BT offer. I understand that for virgin flyer you can choose either 60k points or BT offer (ie not both)

    • 

      atimuslol on 15/11/2024 - 21:51

      "There is no stopping from churning that card multiple times a year."

      "only recently closed it"

      are the virgin cards subject to the 12 month period before you can earn bonus pts like the qantas cards are?
      I'm running out of cards to churn on qantas at the moment so looking to see what else i can churn for points. (Qantas cards kinda suck for pts vs fee ratio now though)

      • 

        abcdefg101010 on 15/11/2024 - 21:54

        I'd also like to know the answer to this question

      • 

        Crowing on 15/11/2024 - 21:56

        Last I checked, no exclusion periods for virgin money flyer card. I’ve opened and closed it twice within the last 12 months (6 month gap between 1st and 2nd churn). Banked 90k points each time too!

        • 

          atimuslol on 15/11/2024 - 21:57

          @Crowing: Mad after i churn my next bankwest card i'll jump onto velocity cards again

          • 

            nightelves on 15/11/2024 - 22:49

            @atimuslol: On my third churn of that card in December if I’m approved.

      • 

        abs898 on 16/11/2024 - 00:21

        Nope, my partner and I have done 2 each this year already

  • 

    Jetkuma on 16/11/2024 - 00:07

    Sadly…I think Virgin Money blacklisted me. I applied about 4 times with an interval of 3 months each, the system kept rejecting me. I asked for manual assessment and still get rejected. However, I did get approved with NAB, ANZ, WBC, CBA, and Citi….so I have no clue why Virgin Money doesn't like me.

    • 

      alfawex on 16/11/2024 - 10:18

      You applied and cancelled 4 times in a year and have no clue?

• 

  Iwantthebestprice on 15/11/2024 - 22:05

  +4

  Worst bank in history. Just transferred my home loan out of them. This bank is literally living in the 90’s

• 

  wine on 15/11/2024 - 22:47

  +5

  Absolutely the worst bank in Australia. I've churned every single bank and BOQ is the only one I will never apply for again.

  To simply active your credit card you spend 3 phone calls and 2 hours on hold. Each person who picks up says "I can't activate your card I'll transfer you to someone else", and that repeats for 5 different people who have no clue what to do. No option to activate online.

  Next, to activate Internet Banking, you need to visit a physical branch. The welcome letter says you can activate over the phone but no one can seem to do it and all tell you to go into a branch.

  When visiting a branch, they don't recognise the Service NSW app licence, so had to come back another day with physical licence. Then the bank staff say "can you please come back 2 hours later because I'm too busy to set up your Internet Banking, when there was only one other customer in the branch.

  All of their systems, staff and internet banking are horrible. Also did not receive points for half of my transactions. Please don't make the same mistake as me, and just apply for literally any of the other 15 banking credit providers in Australia.

  • 

    nightelves on 15/11/2024 - 22:50

    +1

    Geez is it really that difficult. Might avoid it if that’s the case.

  • 

    cloud68 on 16/11/2024 - 12:31

    Very helpful info to avoid this bank cheers

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  Pufff on 15/11/2024 - 23:17

  Says you'll be charged interest on your purchases if you have a BT so doesn't that defeat the purpose?