The HSBC Platinum Credit Card could be a great option for those looking to spend up and score big on rewards points. There is a $149 annual fee but it's reduced to $0 in the first year of holding the card.
This card's impressive features won over the judges in the 2023 Mozo Experts Choice Awards, taking out a whopping 4 awards, including best Balance Transfer Platinum Credit Card, best Premium Rewards Platinum Credit Card, best Cashback Premium Credit Card and best Qantas Frequent Flyer premium Credit Card.
The HSBC Platinum offers excellent reward point earning capacity with one point for every dollar spent. Helpfully, points aren't capped, although they do expire after 36 months.
HSBC Platinum Credit Card customers also gain access to the exclusive HSBC home&away privilege program, which offers discounts on shopping, travel and fine dining in 40 countries across the world.
Plus, if you are looking to clear debt, the HSBC Platinum Credit Card currently has a 12-month 0% balance transfer offer (with a 2% balance transfer fee).
The card comes with a $149 annual fee ($0 in the first year) which is charged each year on the anniversary of the account opening date. But the good news is that if you spend $6,000 on eligible purchases within the following 12 months, this fee will be refunded to you. Make sure you check out the fine print on this offer over at HSBC's website.
The HSBC Platinum Credit Card is perfect for rewards points junkies and big spenders who love to travel and are meticulous about paying their outstanding balance off in full each month.
Just keep in mind that this is not a card you want to carry a balance on, as this flashy piece of plastic features a sizable 19.99% purchase rate! So be sure to always pay off your balance in full every month.
Rates and fees information correct as at 20 April 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
239,200 points
15,600 points
24,000 points
24,000 points
1.5 points per dollar on Visa, up to $120,000 per year
Redeem your points for travel, gift cards, retail rewards and shopping gift cards.
You can choose to transfer points to airline programs including Cathay Pacific and Singapore Airlines KrisFlyer.
Earn bonus points at 15 bonus partners including HSBC Travel Plus.
HSBC home&away program offers discounts on shopping, travel and more, in over 40 countries. Complimentary LoungeKey membership and 2 lounge passes per annum.
Spend $16,000 (Visa)
Spend $16,000 (Visa)
Spend $10,400 (Visa)
Spend $159,467 (Visa)
at $120,000 yearly
36 months
|
19.99% p.a. |
|
|
none |
|
|
0% p.a. for 12 months and then 21.99% p.a. (2.00% balance transfer fee) |
|
|
yes |
|
|
21.99% p.a. |
|
|
55 |
|
$149.00 |
|
|
$0 in the first year |
|
|
none |
|
|
$0.00 |
|
|
$30.00 |
|
|
3%, min $4.00 |
|
|
3.00% |
|
|
$8.00 |
|
|
$0.00 |
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|
$0.00 |
|
$20.00 |
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|
3.0 |
|
|
yes |
|
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none |
Apple Pay, Google Wallet
Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection
Access to the Home&Away Privilege Program to receive discounts and benefits.
I am really annoyed that it is one of the few more major credit cards not to offer covid travel insurance as part of their free credit card travel insurance. Most of the bigger banks offer this and it will save you close to two thousand dollars if you have to buy separate insurance so no way is this card value for money. Also what they don't tell you is that you have to pay a fee, about$75 extra if you want to include any pre-existing conditions. First time I have come across that
Read full reviewI am really annoyed that it is one of the few more major credit cards not to offer covid travel insurance as part of their free credit card travel insurance. Most of the bigger banks offer this and it will save you close to two thousand dollars if you have to buy separate insurance so no way is this card value for money. Also what they don't tell you is that you have to pay a fee, about$75 extra if you want to include any pre-existing conditions. First time I have come across that
Travelling overseas in America. Advised HSBC prior to travelling the dates I would be overseas. Received an acknowledgment of my travel plans. First day I arrived, my credit card didn’t work, I was unable to pay for the car hire and hotel. Had to get credit on my phone to deal Australia (HSBC USA wouldn’t assist), finally sorted the issue out,…. Then a week later the card was blocked again due to a suspicious transaction,…. The transaction in question was at WALMART!,… id been to Walmart many times before the card was BLOCKED. Had to get more credit for my phone to call HsBC in Australia,…called HSBC and finally got the card unblocked and was told there is no setting to say I am travelling overseas on my account! ,…… a week later and my card is BLOCKED again. Had to get more phone credit,.. but this time the call centre is busy and I’ve been on hold for 15 minutes. Every time you purchase something in America you have to input your card pin! DO NOT TRAVEL OVERSEAS WITH A HSBC CREDIT CARD
Read full reviewTravelling overseas in America. Advised HSBC prior to travelling the dates I would be overseas. Received an acknowledgment of my travel plans. First day I arrived, my credit card didn’t work, I was unable to pay for the car hire and hotel. Had to get credit on my phone to deal Australia (HSBC USA wouldn’t assist), finally sorted the issue out,…. Then a week later the card was blocked again due to a suspicious transaction,…. The transaction in question was at WALMART!,… id been to Walmart many times before the card was BLOCKED. Had to get more credit for my phone to call HsBC in Australia,…called HSBC and finally got the card unblocked and was told there is no setting to say I am travelling overseas on my account! ,…… a week later and my card is BLOCKED again. Had to get more phone credit,.. but this time the call centre is busy and I’ve been on hold for 15 minutes. Every time you purchase something in America you have to input your card pin! DO NOT TRAVEL OVERSEAS WITH A HSBC CREDIT CARD
We had $20,000 dropped into our credit card account by mistake on a balance transfer. We then had to fight HSBC to get the money. Even though we were in credit by $16500. They said we could take the money out in $1000 per day limits and they would charge us 4% per withdrawal as they would deem it as a cash advance. They would not release the money until we closed the account in its entirety. We considered going to the police as technically it was stealing and we did report it to the Australian Financial Complaints Authority. I thought Channel 7 would love a story like this. They held onto the money for over a week - why I don't know. But we missed several other payments because of this, phone etc. and have now been charged late fees because of it. We found the customer service people to lie and say anything that was convenient on the phone.
Read full reviewWe had $20,000 dropped into our credit card account by mistake on a balance transfer. We then had to fight HSBC to get the money. Even though we were in credit by $16500. They said we could take the money out in $1000 per day limits and they would charge us 4% per withdrawal as they would deem it as a cash advance. They would not release the money until we closed the account in its entirety. We considered going to the police as technically it was stealing and we did report it to the Australian Financial Complaints Authority. I thought Channel 7 would love a story like this. They held onto the money for over a week - why I don't know. But we missed several other payments because of this, phone etc. and have now been charged late fees because of it. We found the customer service people to lie and say anything that was convenient on the phone.
It's a very good bank, the only down side is limited physical branches but online is good.
Read full reviewIt's a very good bank, the only down side is limited physical branches but online is good.
I have been using this organisation for less than 1 year. Their online banking system is archaic. If you update the app you will go backwards. Dumb bank. I will be closing my account ASAP.
Read full reviewI have been using this organisation for less than 1 year. Their online banking system is archaic. If you update the app you will go backwards. Dumb bank. I will be closing my account ASAP.
Qantas Ultimate Card
23.99% p.a.
No current offer
$450
Qantas Frequent Flyer
Platinum Edge Credit Card
23.99% p.a.
No current offer
$195 $0 in the first year
Membership Rewards
Explorer Credit Card
23.99% p.a.
No current offer
$395
Membership Rewards
Velocity Platinum Card
23.99% p.a.
No current offer
$375
Velocity Frequent Flyer
Low Rate Card
13.49% p.a.
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
$59 $0 in the first year
Qantas Discovery Card
23.99% p.a.
No current offer
$0
Qantas Frequent Flyer
Velocity Escape Card
23.99% p.a.
No current offer
$0
Velocity Frequent Flyer
Qantas Ultimate Card
Qantas Frequent Flyer
$450
60,000
1.25 points up to 100,000 points/year, then
1 point uncapped
Platinum Visa Credit Card
Qantas Frequent Flyer
$299
50,000
1 point up to 20,000 points/month
Qantas Rewards Premium Card
Qantas Frequent Flyer
$250 $150 in the first year
70,000
0.66 points up to $3,000/month, then
0.33 points up to $6,000/month
Qantas Premium Card
Qantas Frequent Flyer
$249
20,000
1 point uncapped
Rewards Signature Card
NAB Rewards
$295 $145 in the first year
160,000
1.25 points uncapped
Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
Velocity Escape Card
Velocity Frequent Flyer
$0
No current offer
0.75 points uncapped
Qantas Rewards Signature Card
Qantas Frequent Flyer
$395 $295 in the first year
120,000
1 point up to $5,000/month, then
0.5 points up to $20,000/month
Low Rate Card
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
13.49% p.a.
$59 $0 in the first year
Premier Credit Card
0% p.a. for 6 months and then 22.24% p.a.
21.49% p.a.
$300 $150 in the subsequent years if you spend $48,000 on eligible purchases or cash advances in previous year., $150 in the first year
Citi Rewards Program
Blue Visa Credit Card
0% p.a. for 9 months and then 21.74% p.a.
0% p.a. for 9 months then 20.74% p.a.
$60
Q Rewards
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 24 months and then 20.99% p.a.
20.74% p.a.
$149 $0 in the first year
Velocity Frequent Flyer
More Mastercard
0% p.a. for 6 months and then 19.99% p.a. (1.00% balance transfer fee)
19.99% p.a.
$100
Bankwest More Rewards
Low Rate Card
13.49% p.a.
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
$59 $0 in the first year
Low Rate Credit Card
12.99% p.a.
0% p.a. for 12 months and then 25.99% p.a. (2.00% balance transfer fee)
$99
Low Rate Visa Credit Card
9.90% p.a.
No current offer
$59
Low Rate Credit Card
8.99% p.a.
0% p.a. for 6 months and then 8.99% p.a.
$59 $0 in the first year
Low Rate Card
13.49% p.a.
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
$59 $0 in the first year
Low Rate Credit Card
12.99% p.a.
0% p.a. for 12 months and then 25.99% p.a. (2.00% balance transfer fee)
$99
Low Rate Visa Credit Card
9.90% p.a.
No current offer
$59
Low Rate Credit Card
8.99% p.a.
0% p.a. for 6 months and then 8.99% p.a.
$59 $0 in the first year
Blue Visa Credit Card
0% p.a. for 9 months then 20.74% p.a.
0% p.a. for 9 months and then 21.74% p.a.
$60
Flex Card
0% p.a.
No current offer
$120 $10 monthly fee waived if the outstanding balance on the previous statement is paid in full by the due date.
StraightUp Card
n/a
No current offer
$240 $20/month - waived if no spend & no balance owing
