BOQ Q Rewards Credit Card Rewards Program
Posted June 25th, 2010 and last modified April 29th, 2011The Bank of Queensland Q Rewards Program has many different redemption options to choose from, ranging from travel and shopping vouchers to a number of different products.
All you have to do to earn rewards is to use your Bank of Queensland credit cards, with the exception of the low interest rate option.
Q Rewards Program Credit Card
Earn Q Points that can be redeemed for flights with any airline, any time. For every $1 you spend, you can earn 2 Q Rewards Point. Earn 50,000 Q reward points on first spend. Points never expire.
- $99 (half annual fee for the life of the card) annual fee
- 20.74% p.a. on purchases
- 1.9% p.a. for 6 months on balance transfers
- Cash Advance Rate of 21.74% p.a.
- 55 days interest free
- Minimum Income Requirement of $35,000 p.a.
Enrolment in the rewards program is automatic, so you do not have to go through a great deal of trouble to begin using the rewards program. The rewards program itself is free, so everything you accumulate is pure profit.
There are a number of different rewards offered by the program. The incentives include flight vouchers for many different airlines, such as Virgin Australia and Jetstar. You can also receive gift cards or shopping vouchers for countless types of businesses. These are just a few of the rewards that the program has.
Managing the reward points you accumulate is extremely easy. You can redeem your points, check the number of points you have, and view available rewards all through the online banking section site. To access your information you just need to log onto your bank account and click on ‘other card functions’ to view all of the information about your rewards program. You can also contact them by phone.
There are a number of different benefits to using the Q Rewards card, aside from the rewards themselves. The card offers free membership with no annual fee. There will also never be a fee for using the rewards program. You will earn 1.5 to 2 points for each dollar you spend depending on whether your card is a Blue, Gold, or Platinum Visa card. You can also use your rewards points to make payments on your Bank of Queensland credit card or home loans.
The only downside to the Q Rewards card is that the rewards program has a cap on the number of points you can earn per year. However, the caps are more than sufficient for the majority of credit card users, ranging from 65,000 for the Blue Card to 240,000 for the Platinum Visa Card. However when you compare these benefits to other cards you’ll see that you are getting a great deal because you do not have to pay for the rewards program. The final verdict is that this rewards card offers a large number of features without any major annual fee.
Check out today's featured offers:
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0% p.a. for 6 months on purchases & balance transfers |
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Please, how many points qualify for a flight to Auckland(BOQ).
Hi Olivia
First of all, thanks for your comment – I love questions that involve a bit of number crunching! :)
I just had a look at the Q Rewards website. You can redeem points and redeem them for Virgin Blue Vouchers, which also work with Pacific Blue who have direct flights to Auckland from Brisbane, Melbourne and the Gold Coast.
A $50 Virgin Blue voucher requires 13,750 Q Rewards points. With the BoQ Platinum Visa you can currently earn 2 Q rewards points per $1 you spend – so you’d have to spend $6,875 to get a $50 Q Rewards voucher – meaning it’s not one of the best frequent flyer rewards programs out there.
I just checked the Pacific Blue website – the current price for a 1 way Economy ticket from Melbourne to Auckland is $179. This would mean you would need to spend a whopping $24,612.50 to earn enough points in Virgin Blue $50 vouchers, to redeem your points for a 1 way Economy flight to Auckland.
In comparison, the Qantas Frequent Flyer program is much more efficient if you are looking to use your points for flights.
Using the Qantas Frequent Flyer Points calculator, it works out to be a requirement of 18,000 Qantas Frequent Flyer points if you want to pay for an economy flight from Melbourne to Auckland using your QFF points only.
If you were to use the Qantas American Express Discovery Card to earn the points needed for this flight, it has a 1 to 1 earn rate – in other words, for every $1 you spend you earn 1 Qantas Frequent Flyer Point. That would mean you would need to spend only $18,000 to earn the economy flight one way form Melbourne to Auckland, in comparison to spending $24,612.50 with the Q Rewards program.
All in all, you’re probably best off to look for a credit card with a rewards program specifically optimised for redeeming travel and flights rewards.
You can check out our comparison here for more information on frequent flyer credit cards: http://www.creditcardfinder.com.au/frequent-flyer-credit-cards
I hope this comment helped!