The BOQ Specialist credit cards are niche credit card offerings exclusively available to doctors, dentists and vets.
The BOQ Specialist cards come in both a Signature and Platinum variety. This guide looks exclusively at the Signature offering, with a separate guide available for the Platinum card.
The Signature card comes with additional perks such as complimentary insurances and lounge access.
Current bonus offer available to new BOQ Specialist Signature Cardholders
BOQ Specialist are offering 20,000 Qantas or Velocity Point bonus for new applicants of the BOQ Specialist Signature card when they apply and use the card at least ten times within the first two months of approval.
BOQ Specialist Signature Card – earning and redeeming points
Earning rates are based on whether your transactions are domestic or international, and there is no difference in earn rates between the Qantas- or Velocity-earning cards.
The earn rates are:
- 1 Qantas or Velocity Point for every $1 spent on eligible purchases in Australia up to $10,000 per month, 0.5 points per $1 thereafter
- 1.5 Qantas or Velocity Points for every $1 spent on eligible international purchases
- 1 Qantas or Velocity Point for every $1 spent on eligible BOQ Specialist finance contracts plus make the repayments on your BOQ Specialist card and earn 1 Qantas or Velocity Point per $1 on the repayments
For those who opt to earn Qantas Frequent Flyer Points, the following also applies:
- 1 additional Qantas Point for every $1 spent on selected Qantas products and services
Selected Qantas products and services include Qantas flights (with a QF flight number) along with Qantas Frequent Flyer and Qantas Club joining and annual fees. It does not extend to Jetstar flights, Qantas Holidays, Qantas branded non-airfare product, or any product or service not purchased directly from Qantas.
The options available to redeem your points are aligned with your frequent flyer program of choice. In other words, anything that is available to be redeemed in the Qantas or Velocity Frequent Flyer programs is available for redemption, as you will be using Qantas or Velocity points to make the redemption. This includes redeeming for flights, entertainment or merchandise.
Features of the BOQ Specialist Signature Card
|Card||BOQ Specialist Signature Card|
|Loyalty Program||Qantas Frequent Flyer or Velocity Points|
|Qantas or Velocity oints earned from spend||1 point for every $1 spent on eligible purchases in Australia up to $10,000 per month, 0.5 points per $1 thereafter|
1.5 points for every $1 spent on international purchases
1 point for every $1 spent on eligible BOQ Specialist finance contracts. Plus, make the repayments on your BOQ Specialist card and earn 1 point per $1 on the repayments
Additional 1 Qantas Point per $1 spent on selected Qantas products and services
|Included insurances||A range of complimentary insurances including up to 90 day overseas travel insurance(PDS)|
|International transaction fee||3.2%|
|Annual fee||$400 p.a.|
For an annual fee of $400 per year, the Signature card comes with a Standard membership to the Priority Pass lounge network, with unlimited entry for you and a guest into the network’s 1,200+ lounges. This represents great value, given that an identical membership with Priority Pass retails at US$399 if purchased directly from them.
This goes beyond many premium credit cards that offer complimentary Priority Pass membership, which generally come with only two complimentary entries per year.
Traditionally, the number of available lounges in Australia has been quite limited, however, this has been improving with Priority Pass’s recent initiatives to provide an AU$36 credit when purchasing food and beverage from selected outlets within Sydney, Melbourne and Brisbane Airports. Priority Pass also has physical lounges in Melbourne, Adelaide, Cairns and Darwin run by third party providers.
You also receive exclusive benefits to the Visa Luxury Hotel Collection, such as automatic room upgrades, food and beverage credits and late check-out.
Cardholders also receive a 15% discount to the Visa Airport Speedpass service, which provides a meet & assist service to over 500 worldwide airports. Marketed as a bespoke and personal in-airport service, it advertises the ability to beat queues, avoid inconveniences and be treated as a VIP passenger. Costs start from $100 USD.
BOQ Specialist’s Asset Finance On Card (AFOC) Facility
BOQ Specialist’s “Asset Finance on Card,” or AFOC facility allows you to buy big ticket items for your practice using your BOQ Specialist credit card while earning Qantas or Velocity points.
Simply use your BOQ Specialist Signature card to purchase the latest equipment, a new car or fit-out and you can earn 1 point per $1 spent on your eligible purchase (a 1.5% processing fee applies). Conveniently roll the expense into a fixed term contract with BOQ Specialist and make your repayments on your card to earn even more points on the repayments.
- A BOQ Specialist client finances $100,000 in equipment, transacts using the card (with the processing fee), and earns 100,000 Qantas or Velocity Points
- The client is also able to earn points by making repayment through their BOQ Specialist Signature card – so if the monthly repayments were set at $1,000, an additional 1,000 points would be earned each month. The monthly processing fee for the card payment is also charged on repayments.
- All points earned on finance and repayments to that finance sit outside the 10,000 point cap each month, leaving that open for earning points on regular transactions.
Note that BOQ Specialist’s AFOC facility has a separate approval process from their range of BOQ Specialist credit cards, and you’ll need to get your own professional advice on it’s suitability for your needs. For more information visit the BOQ Specialist website.
The BOQ Signature card also comes with a selection of complimentary insurances, which includes the following:
- Overseas Travel Insurance
- Purchase Security Insurance
- Extended Warranty Insurance
- Transport Accident Insurance
- Best Price Guarantee
- Golfer’s Insurance
- Global Car Hire Excess Waiver
- Domestic Flight Inconvenience Insurance
Further information regarding these insurances available to BOQ Specialist cardholders can be found here.
This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.
Notes on applying for a BOQ Specialist card
To apply for a BOQ Specialist card, you’ll need to confirm you are a medical, dental or veterinary professional.
While the earn rates for the BOQ Specialist Signature card are definitely competitive for a Visa card, one of the biggest advantages of the BOQ Specialist Signature card is the fact that points earned through their Asset Finance On Card (AFOC) Facility are excluded from the monthly 10,000-point cap.
However, points are just one part of the overall package, and on that front, both variants of the BOQ Specialist Signature card does impress. Unlimited access to Priority Pass lounges is a standout and eclipses most of its direct competitors. This should be especially well-received, given Priority Pass’s focus on increasing its footprint in Australia.
The card’s complimentary insurances are comprehensive, with this offering possibly also placing BOQ Specialist ahead of its competitors for cardholders who would value these policies. There are some unique policies such as golfers insurance and a global car hire excess waiver.
If you are a professional working in one of these fields and are likely to make use of many of the travel-friendly benefits and the unique equipment finance feature included as part of the card, then this card should be attractive to you. And for those who do less travel, the decent earn rate for a Visa card alone may well make it worth considering.