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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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BOQ Platinum Visa Credit Card: 60000 Velocity Pts (Converted from 180,000 Q Pts) with $4500 Eligible Spend in 3 Months, $149 Fee
Go to Deal
Crowing on 15/11/2024 - 21:31 boq.com.au (356 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.

Financial Credit Card Frequent Flyer Reward Points Velocity Frequent Flyer VISA

Related Stores

Bank of Queensland
Bank of Queensland
Velocity Frequent Flyer
Velocity Frequent Flyer
Marketplace

Comments

  • abs898 on 15/11/2024 - 21:42
    +3

    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
        +1

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

        • vawiyoci on 05/12/2024 - 12:33

          'Cancelled' would imply he was approved for the card all 4x times. Think their point was mainly that the other banks obviously didn't care about the churning while Virgin for some reason did across the same period.

  • Iwantthebestprice on 15/11/2024 - 22:05
    +5

    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
    +7

    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

    • ninnypoop on 18/11/2024 - 14:36

      I agree. I have my savings with them. If it wasn't for the high interest, I'd be long gone. In fact as soon as it makes sense for me I'll never use them again. Absolutely garbage of a bank

    • JF1 on 25/11/2024 - 13:01
      +1

      Each of these things occurred with me. I can’t believe BOQ manages to remain solvent with their dismal customer service and antiquated systems.

      To cap it all off, they didn’t properly enrol me in their rewards program - so I have missed out on some of my credit card points. I now have to sit through the agonising phone call with them to try and get the points.

      This is one credit card where the hassle has not been worth the points. And I have churned 15 cards in the last year.

    • circle9nine on 10/12/2024 - 13:39
      +1

      My experience so far too.

    • enzso on 07/01/2025 - 14:30
      +1

      Currently rotting in a branch doing this now. Ridiculous. Not worth the time

  • 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?

  • svanaut on 20/11/2024 - 18:39

    Could someone explain the steps for how I'd earn interest on a balance transfer? I thought its just transferring debt from one CC to another which has a 0% period on that debt.

    • Techn1x on 21/11/2024 - 00:30
      +1

      It sounds like the BT can be sent to your bank account. BOQ is likely assuming you are paying a loan with it, but you can just let it sit in a high interest savings account.

      For a balance transfer, the way "debt" is transferred from one loan to another is BOQ pays that other loan, using credit from your new loan. You just happen to tell BOQ your debt is over at Bank X and it is paid with a BSB/ACC…

      • svanaut on 21/11/2024 - 10:52

        Thank you!

  • Techn1x on 21/11/2024 - 00:29

    I'm interested in the Balance Transfer idea. I didn't realise some banks allow BT's to a BSB/Acc. How does this work for BOQ? Do you enter in BSB/ACC as part of application? Or do you have to call up and ask for it to be transfered to a bank account?

    I just want to be sure before I sign up for a 100k credit card limit haha.

  • eddie eagle on 25/11/2024 - 13:05
    +3

    I applied with no problem on 1/11/24 and was approved same day. Activation once card was received was easy over the phone, I did need to go a branch in SA to get internet banking and app up and running.

  • brissiegal on 27/12/2024 - 15:41
    +2

    Just had this card and can overall recommend - the delivery of points was fast, but the application process was slow and dealing with BOQ was painful.

    Applied online on 20th Nov - provisionally approved. Called me the next day for further info, couldn't progress without verbal confirmation. Formally approved on 22nd Nov. Card arrived on 4rd Dec. Note that the statement cycle starts from date of approval, not card activation, so spent the minimum 4.5K spend by 22nd Dec. Statement issued 24th Dec with bonus points on the statement. 180K Q points in my BOQ account immediately. I requested these points to be converted to Velocity points - 60K in points in my Velocity account on 26th of Dec. So all very quick once I got the card.

    Issues: The card took ~ 2 weeks to arrive to Brisbane CBD. There is no opportunity to use the card before arrival of the physical card. Lots of things required you to call or attend a branch (activating the card, finding out what your CRN so you can log onto internet banking, activating the internet banking which were each different people/departments and therefore waits). Phonecall waits were all > 1 hr no matter what day or time you called (in November)

  • lolmao on 06/01/2025 - 11:40
    +1

    Worst bank. I was able to get the card activated over the phone but they wouldn’t give me access to internet banking. After being transferred to 3 departments who were all clueless, they told me I had to visit a branch since they didn’t have my ID, this was hard to believe since they took my ID details in the application and successfully verified me over the phone at the start of the call and were happy to activate the card for me.
    I went to the branch with my license, Medicare card, debit card, but they told me none of these would suffice and they needed my passport, so I had to come home and visit again.
    Now I have internet banking however the app and online banking is terrible so far, more than 50 transactions showing up which are all duplicates of the same 4 transactions.

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