BOQ Platinum Visa Credit Card
Churn value: $215 in gift cards.
You pay $75 in first-year fees.Spend $4,500 in 90 days.You get $290 in Woolworths gift cards.
The recorded minimum requirements are that you earn at least $35,000 a year and can take a credit limit of at least $6,000. Meeting them does not guarantee approval.
It is only worth it if you pay in full each month and close the card before the next $149 fee.
Available
This page is my best effort to summarise the card's terms from the information I found. Read the bank's terms for full details, or contact the bank if you have questions.
I'd like to use my bonus for:
Can I get this?
This offer is advertised to the public. Bonus conditions and the bank’s approval requirements still apply.
Can I get this bonus if I have held a card before?
I have not checked the waiting period for this bonus.
See the waiting rules for every Australian bank →What must I spend?
$4,500 within 90 days — about $1,500 per month.
Can I get the card?
The minimum credit limit is $6,000. This is the least the bank may let you borrow.
You must earn at least $35,000 a year.
Meeting the bonus rules does not mean the bank will approve your application. The bank must assess and approve the card separately.
How long is this available?
I do not have an end date for this offer.
What do I do, step by step?
- Apply. Check the income and waiting rules in “Can I get this?” first. If you do not pass those, the bonus does not come.
- Spend $4,500 in 90 days on bills and shopping you had to pay anyway. Do not buy extra things just to hit the number.
- Pay in full each month. Interest can eat the whole bonus. The churn value at the top assumes you never pay interest.
- Use the points for gift cards. Points you never use are worth zero.
- Close the card before the next fee — keeping it costs $149 a year. The next section helps you decide if keeping it is worth it.
When this is not worth it
- You pay interest, or you cannot pay in full each month.
- You buy things you do not need to hit the spend target.
- You have no trip or use in mind for the points.
- You keep the card into year two out of habit and pay the fee again.
Should I keep it after the first year?
Keeping the card costs $149 each year ($149 annual fee) — the first year was $75.
There is no bonus in year two. The fee buys points on your spending, plus the card's perks.
Ongoing earn: 1.00x BOQ points per $1.
Keeping pays off only if the ongoing earn and benefits are worth $149/yr to you.
What else makes the card useful?
Reward use
Ways to turn points into value.
- Points Transfer Benefits Compare across cards →Q Rewards Points can be transferred to Velocity Points
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Q Rewards Points can be transferred to Velocity Points
Purchase protection
Cover on things you buy with the card. Limits, excesses, and activation conditions apply.
- Purchase Protection Insurance Compare across cards →Coverage for lost, stolen, or damaged goods within 90 days of purchase for card members, subject to terms, conditions, limits, and exclusions.
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Coverage for lost, stolen, or damaged goods within 90 days of purchase for card members, subject to terms, conditions, limits, and exclusions.
- Extended Warranty Insurance Compare across cards →Includes complimentary extended warranties on eligible purchases (terms, conditions, limits and exclusions apply)
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Includes complimentary extended warranties on eligible purchases (terms, conditions, limits and exclusions apply)
Travel
Travel cover and perks. Most need qualifying bookings or payment with the card.
- Travel Insurance Compare across cards →Includes complimentary insurance (terms, conditions, limits and exclusions apply); cover detailed in the BOQ Credit Cards Complimentary Insurance Policy Information Booklet
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Includes complimentary insurance (terms, conditions, limits and exclusions apply); cover detailed in the BOQ Credit Cards Complimentary Insurance Policy Information Booklet
Account management
Tools for running the account — repayment helpers, not reward value.
- No Annual Fee Compare across cards →No annual fee on a new Platinum Visa Credit Card while the cardholder has a home loan with BOQ. This offer is available only in branch and not in conjunction with other offers.
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No annual fee on a new Platinum Visa Credit Card while the cardholder has a home loan with BOQ. This offer is available only in branch and not in conjunction with other offers.
- Installment Plans Compare across cards →Ability to split purchases into manageable monthly installments over a set term using Instalment Plans feature.
This is a repayment plan. It does not add reward value.
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Ability to split purchases into manageable monthly installments over a set term using Instalment Plans feature.
- Balance Transfer Offers Compare across cards →0% p.a. balance transfer for 12 months with a 1% balance transfer fee. Other balance transfer offers include 6 months at 0% p.a. with 1% fee and 18 months at 0% p.a. with 2% fee, subject to terms.
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0% p.a. balance transfer for 12 months with a 1% balance transfer fee. Other balance transfer offers include 6 months at 0% p.a. with 1% fee and 18 months at 0% p.a. with 2% fee, subject to terms.
- Interest Free Periods Compare across cards →Up to 44 interest-free days on purchases, unless there is a balance transfer on the account.
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Up to 44 interest-free days on purchases, unless there is a balance transfer on the account.
$290 in Woolworths gift cards (103,800 of 104,500 BOQ points; 700 left over) − $75 card fee. Assumes you earn the bonus and pay in full; extra spend or interest changes the outcome.
This offer is open now (terms from 2 Oct 2026).
What this calculation assumes
- You make the required purchases and the bonus is paid.
- You pay the balance in full — any interest changes the outcome.
- The required spend is ordinary planned spending, not extra cost.
- You close the card before the next annual fee, or you decide keeping it is worth that fee.
- Gift card prices can change. I check them again at renewal time.
Did this help you make a decision?
Terms and evidence
Full current terms
Offer terms
Signup Bonus
100,000 points
BOQ
Minimum Spend
$4,500
within 90 days (about 3 months)
Ongoing Earn Rate
1.00x points per $1 spent
Fees
First Year Annual Fee
$75
Ongoing Annual Fee
$149
From year 2 onwards
Purchase Interest Rate
21.99% p.a.
The value above assumes you pay in full and never pay this. Any interest changes the outcome.
Benefit history (2 changes)
- Travel InsuranceUpdated May 2026
- Points Transfer BenefitsUpdated May 2026
Offer terms history (4 versions — old terms, for checking)
These are published versions of this offer's terms. Each version preserves the conditions available at that time.
Published 2 Oct 2026
Changes from terms version 3
Changes from terms version 2
Changes from terms version 1
First recorded terms
Captures behind the selected terms record — evidence for these terms, not a complete history of the named offer.
Archived notes
Earlier notes about this offer, kept as an archive — not current terms. Note dates are separate from terms publication dates.
- Expiration changed from 30/04/24 to no expiration2 years ago
- Expiration changed from 30/11/23 to 30/04/24, Bonus from 150K to 100K, Spend For Bonus from $3K to $4.5K, Bonus Period from 90 to 90, Annual Fee from $129 to $653 years ago
- Offer extended to 30 Nov 233 years ago
- Offer extended to 31 October 20224 years ago
- Bonus increased from 120,000 to 150,000 and time limit increased from 60 days to 90 days5 years ago
Discussion
About the current terms (published 2 Oct 2026).
Community and personal tools
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