Credit Card Changes

BOQ Specialist Signature and Platinum Credit Card changes effective 1 October 2026{sub-heading}

Variation Notice {yellow-border}

This variation notice provides details of these changes, as they apply to your:

  • BOQ Specialist Qantas Rewards Program Terms and Conditions.
  • BOQ Specialist Velocity Frequent Flyer Rewards Program Terms and Conditions.

It is important that you read this notice carefully and keep a copy of it for your records.

When are these changes effective?

These changes are effective on 1 October 2026.

The BOQ Specialist Velocity Frequent Flyer Rewards Program Terms and Conditions and BOQ Specialist Qantas Rewards Program Terms and Conditions are amended as follows:

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BOQ Specialist Qantas Rewards Program[br] Terms and Conditions

[br]Section 1 - Important

In section 1.2, the reference to “or a BOQ Specialist Platinum Credit Card” is deleted.

Section 4 – How you can earn Qantas Points

The table in section 4.2 is deleted and replaced with the following:

Card Type
BOQ Specialist Credit Card – Signature
BOQ Specialist Credit Card – Signature
Transactions
Non-Bonus Transaction
Bonus Transactions
Eligible Transactions
1 Point per AU$1 for first $5,000 spent and 0.25 Points per AU$1 spent above $5,000 up to a capped amount of $10,000 on domestic Eligible Transactions each Statement Period.
As advised to you by BOQ Specialist from time to time in accordance with the Bonus Program
Eligible International
Transaction
1 points per AU$1 spent on Eligible International Transactions (no cap)

BOQ Specialist Velocity Frequent Flyer Rewards Program Terms and Conditions

[br]Section 1 - Important

In section 1.2, the reference to “or a BOQ Specialist Visa Platinum Credit Card” is deleted.

Section 4 – How you can earn Qantas Points

The table in section 4.2 is deleted and replaced with the following:

Card Type
BOQ Specialist Credit Card – Signature
BOQ Specialist Credit Card – Signature
Transactions
Non-Bonus Transaction
Bonus Transactions
Eligible Transactions
1 Point per AU$1 for first $5,000 spent and 0.25 Points per AU$1 spent above $5,000 up to a capped amount of $10,000 on domestic Eligible Transactions each Statement Period.
As advised to you by BOQ Specialist from time to time in accordance with the Bonus Program
Eligible International
Transaction
1 points per AU$1 spent on Eligible International Transactions (no cap)
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Tab Title
Signature Credit Card
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Frequently Asked Questions {yellow-border}

We’ve answered common questions about changes to the BOQ Specialist Signature Credit Card taking effect on 1 October 2026.

To see what is changing for you, please read the email or letter we sent you in August 2026.

What is changing with my Signature Credit Card?

You’ll now earn 1 Qantas or Velocity Frequent Flyer Point per AU$1 for first AU$5,000 spent on Eligible Transactions each Statement Period; and 0.25 Frequent Flyer Points per AU$1 for spend above AU$5,000 up to a capped amount of AU$10,000 on Eligible Transactions each Statement Period. Spend above AU$10,000 in a statement period will not earn points.

Provet purchases using your credit card will no longer earn 1 Qantas Frequent Flyer Point for every AU$1 uncapped. The above earn rates and spend caps will apply.

When do these changes take effect?

These changes take effect 1 October 2026.

Why are we making these changes?

The Reserve Bank is changing the rules for credit card payments in Australia. These changes affect how card benefits like rewards are supported across the industry. As part of this, we’ve reviewed our products and are making changes to your Signature Credit Card.

Do I need to do anything because of this change?

No, there’s nothing you need to do. These changes will come into effect on 1 October 2026.

What if I spend over $10,000 in a statement period?

From 1 October 2026, you'll earn points on eligible domestic purchases up to a maximum of $10,000 per statement period. Spend above $10,000 in a statement period will not earn points on eligible domestic transactions.

You will continue to earn 1 Qantas or Velocity Frequent Flyer Points for every $1 spent on eligible international transactions.

How do I check if I am earning Qantas or Velocity Points?

Check your Qantas or Velocity account to see if you are earning points. If you are not earning points, check that the name listed on your Qantas or Velocity account (salutation, first name, and last name) matches our records exactly.

You should also check if you have provided us with a current and valid frequent flyer number.

Will this impact my existing points?

No. You will keep your points and can use them as normal.

What features of my Signature Credit Card will remain unchanged?

  • an interest rate of 20.50% p.a.
  • Up to 55 days interest free on purchases
  • Complimentary travel insurance
  • Complimentary Priority Pass™ standard membership, which gives the primary cardholder four complimentary visits to Priority Pass airport lounges each calendar year, with one free guest per visit
  • Rewards points on eligible International Purchases: You'll continue to earn 1 Qantas Frequent Flyer or Velocity Frequent Flyer Point per $1 spent on Eligible International Transactions^ each Statement Period with no cap
  • 1 additional Qantas Point per $1 spent on selected Qantas products and services in Australia

Will my annual fee or interest rate change?

No. There are no changes to your annual fee or annual percentage rate. Your annual fee will remain $400, and your annual percentage rate will remain 20.50% p.a.

What complimentary travel insurance comes with my Signature Credit Card?

When you use your BOQ Specialist Signature Credit Card to pay for eligible travel expenses, you receive complimentary travel insurance on domestic and international travel.

Benefits include:
  • Overseas emergency medical expenses, including emergency evacuation and repatriation
  • Trip cancellation and amendment cover
  • Flight and baggage delay cover
  • Cover for lost, stolen or damaged baggage and valuables
  • Rental vehicle excess cover
  • Personal liability cover while travelling

*Eligibility criteria, benefit limits, terms, conditions and exclusions apply (such as age limits and a pre-existing medical condition exclusion).

What are the Priority Pass Benefits with the Signature Credit Card?

Our Signature Credit Card comes with complimentary Digital Priority Pass™ membership. As a primary cardholder, you and a guest will be entitled to four complimentary lounge visits each calendar year in over 1,400 VIP lounges in 500 cities across 130 countries.

For more details visit: https://www.boqspecialist.com.au/help-and-support/credit-cards/priority-pass

What other credit card options are available?

If you are considering a different credit card, you can explore options available with BOQ Group, the wider banking group that includes BOQ Specialist. We offer a range of credit cards designed to suit different needs, from everyday spending to premium benefits.

To find out more visit:

https://www.boq.com.au/personal/credit-cards/

https://www.virginmoney.com.au/credit-cards/

Tab Title
Platinum Credit Card
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Frequently Asked Questions {yellow-border}

We’ve answered common questions about changes to the BOQ Specialist Platinum Credit Card from 1 October 2026.

To see what is changing for you, please read the email or letter we sent you in August 2026.

What is changing with my Platinum Card?

The rewards program on the Platinum Card is being removed. This means you will no longer earn Qantas Frequent Flyer or Velocity Frequent Flyer points on purchases starting 1 October 2026.

You will no longer be able to request an increase to your credit limit. Your existing limit won’t change, and you can still request to reduce your limit at any time. However, if you do, you won’t be able to increase it again in future.

Visa Concierge services will no longer be available.

Why are you removing the points earn on my Platinum Card?

The Reserve Bank is changing the rules for credit card payments in Australia. These changes affect how card benefits like rewards are supported across the industry. As part of this, we’ve reviewed our products and the rewards program on the Platinum Card is being removed.

When do these changes take effect?

These changes take effect 1 October 2026.

Can I switch to a BOQ Specialist Signature Credit Card?

You can switch to a BOQ Specialist Signature Credit Card, subject to credit assessment, credit limit requirements and approval. To inquire about switching, reach out to your relationship banker or call our Client Service Centre on 1300 160 160, 8am to 1:30am (AEST), 7 days a week.

What features of my Platinum Card will remain unchanged?

The benefits of your Platinum Card include:
  • 13.99% annual percentage rate
  • $0 annual card fee
  • up to 55 days interest fee on purchases only
  • Complimentary Card Purchase and Buyers Advantage Cover.

Will my annual fee or interest rate change?

No. There are no changes to your annual fee or annual percentage rate. Your annual fee will remain $0, and your annual percentage rate will remain 13.99% p.a.

Can I increase my credit limit?

No, from 1 October 2026 you can no longer request to increase your credit limit on your Platinum Credit Card.

Can I decrease my credit limit?

Yes, you can ask us to decrease your credit limit at any time.

Things to note:

  • Your new credit limit must be above your credit card’s minimum.
  • Your new credit limit must be above your current outstanding balance.

What other credit card options are available?

If you are considering a different credit card, you can explore options available with BOQ Group, the wider banking group that includes BOQ Specialist. We offer a range of credit cards designed to suit different needs, from everyday spending to premium benefits.

To find out more visit:

https://www.boq.com.au/personal/credit-cards/

https://www.virginmoney.com.au/credit-cards/

We’re here to help{yellow-border}

Call us

Call us for any BOQ Specialist related enquiries.

1300 160 160

Enquire online

Send us your enquiry and one of our specialists will be in touch soon.

Enquire now

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Important Information

The issuer of these products and services is BOQ Specialist, a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL and Australian Credit Licence no. 244616. Terms, conditions, fees and charges apply. Applications for credit are subject to credit approval.

Interest rates are current as at 05-02-2026 and subject to change.

This is general information only and you should consider if these products are right for you. We have not considered your objectives, financial situation, or needs. Before acting on this information you should consider if it is appropriate for your situation.

For target market determinations please click here.

* Insurances
BOQ Specialist card insurances are underwritten by Chubb Insurance Australia Limited (ABN 23 001 642 020, AFSL No. 239687) (Chubb). BOQ Specialist has entered into a Group Policy for the benefit of cardholders. Terms, conditions, exclusions, limits and eligibility criteria apply to insurances.

BOQ Specialist does not guarantee this insurance. Chubb and BOQ Specialist only provide general advice. Before making a decision, please consider your objectives, financial situation or needs and the full terms and conditions of each complimentary insurance policy you are eligible for to decide if it is right for you https://www.boqspecialist.com.au/important-information/terms-and-conditions.

1. Qantas Points
You must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points. A joining fee usually applies. However, complimentary membership is available from Bank of Queensland if you join here Membership and Qantas Points is subject to the Member Terms and Conditions. Qantas Points will be earned on eligible transactions in accordance with the BOQ Specialist Qantas Rewards Program Terms and Conditions. See definition of Eligible Transaction in the BOQ Specialist Qantas Rewards Program Terms and Conditions.

2. Velocity Points
Velocity Member Terms and Conditions apply. Velocity Points are earned in accordance with the BOQ Specialist Velocity Rewards Program Terms and Conditions. Points and bonus points are earned on eligible purchases only. See definition of eligible purchases in the BOQ Specialist Velocity Rewards Program Terms and Conditions.

3. Selected Qantas Products and Services
Selected Qantas products and services are the following items purchased directly from Qantas: Qantas passenger flights (with a QF flight number) Qantas Frequent Flyer and Qantas Club membership joining and annual fees. Excludes Jetstar, Qantas Holidays, Qantas branded non-airfare products and any Qantas products and services not purchased directly from Qantas.

4. Signature bonus points offer
To be eligible for the 20 000 bonus points offer, you must apply for, be approved and pay the full fee for a BOQ Specialist Signature card and make 10 eligible purchases within 60 days of opening your account. Reward points will be credited to the qualifying member account within two months of the tenth eligible purchase. The bonus points offer is available to new BOQ Specialist Signature credit cardholders only and is not available in conjunction with any other offer.

6. Visa Concierge
The Visa Concierge is provided by a third party supplier. For details of this service refer to concierge-asia.visa.com
BOQ Specialist credit card holders receive exclusive benefits at select hotels. Terms and Conditions apply, visit www.visa.com.au/en_au/visa-offers-and-perks/ for more information.

7. Priority Pass™
One complimentary Priority Pass™ Standard Membership for the primary cardholder is a special feature of the BOQ Specialist Signature credit card. Signature cardholders will automatically be enrolled for the Priority Pass™ Standard membership. The primary cardholder is entitled to four complimentary visits to Priority Pass lounges and may bring one guest per visit free of charge per calendar year. Any additional guests will be charged directly to you by Priority Pass™ at their ordinary price, currently US$35 per person per visit. Membership is subject to the Conditions of Use available at www.prioritypass.com.