HSBC Platinum Credit Card

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HSBC Platinum Credit Card
Apply by 31 dec 18
14 reviews
HSBC Platinum Credit Card
0% p.a. on balances transferred for 22 months, with a 2% balance transfer fee.
$129 p.a. annual fee which is refundable each year when you spend $6,000 on eligible purchases.*
Earn 2 pts per $1 spent on overseas purchases.
Add to comparison
Rewards Plus
Rewards Plus
1 pt
per $1 spent capped

Pros & cons

What's good?

What's not so good?

0% p.a. on balances transferred for 22 months, with a 2% balance transfer fee.
$129 p.a. annual fee which is refundable each year when you spend $6,000 on eligible purchases.*
Earn 2 pts per $1 spent on overseas purchases.
Earn 1 Rewards Point per $1 spent.
High credit limits available for bigger spenders.
Insurance package available including extended warranty, purchase protection, guaranteed pricing, and transit accident insurance.
Get additional cardholders at no extra cost.
Visa payWave for faster contactless purchases.
Comes with Apple and Google Pay.
Cheaper ongoing purchase rates are available on other cards.
After the balance transfer period is over the interest rate on unpaid balances goes up to the cash advance rate.

*$129 Annual Fee applies, this will be refunded for customers applying between 1 August 2018 – 31 March 2019 who spend $6,000 on eligible purchases with card within 12 months of account approval. Refunds will be posted automatically within 30 days of eligible spend criteria being met, if your account is current and in good state. Eligible purchases exclude interest free promotions, balance transfers, business expenses, cash advances, fees or charges, any disputed transactions, and any government fee or charge.

User reviews

3.6 out of 5.0 based on 14 reviews79% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Poor website and phone app

Reviewed and not recommended by Elissa on 09 Oct 2017

The website, security and phone app were all clunky and difficult to use. They didn’t even have the ability to use Android Pay. We were sent password generators, but there was absolutely no information on how to activate them on the website.

Customer service over the phone was generally good but their hold music was painful. The card served its purpose for a interest-free credit transfer, but as soon as that is paid out I will be cancelling the cards and would not use them again.

Zero annual fee, decent rewards and offers

Reviewed and recommended by Jatin on 04 Dec 2016

I like this card because it has a zero annual fee, and decent rewards and offers. It’s also very convenient. You get an extra card at no extra cost.

I also get new offers every now and then. There’s easy access online, and emailed statements.

Great fee-free card with rewards

Reviewed and recommended by Andrew on 22 Sep 2016

The HSBC Platinum credit card has no annual fee but includes a rewards program, so you can’t really lose. As a Visa card, it is accepted pretty much everywhere, and while the rewards range is not very big, it doesn’t cost anything.

I’m not sure of the interest rate charged as I pay it off in full every month.

Great card for everyday use

Reviewed and recommended by Koshita on 21 Sep 2016

I get paid fortnightly and travel frequently and so a credit card was much required. I highly recommend the HSBC Platinum Visa card. It has complimentary travel insurance, no annual fee (got on a promotion), low interest rates and a rewards points program. It has a lengthy interest-free period which makes it very competitive.

The only downfall is that the rewards points are slow to accumulate and rewards are very costly in points.

Customer service is very friendly and knowledgeable on the phone and the online credit card login site is very secure.

No annual fee

Reviewed and recommended by Geoff on 20 Sep 2016

Great 'no annual fee’ credit card with a reasonable rewards program attached. HSBC partners with Visa to offer this fully-featured credit card that can be an excellent funding source, whether it be for local or international transactions, whether they are online or offline and whether they are large or small, HSBC and Visa have all the bases covered.

Great rewards card

Reviewed and recommended by Vicki on 18 Jul 2016

I got this card for a balance transfer a few years ago. I have kept it because of the rewards. It’s a great card. The rewards are easily earned, and the fees are low. Customer service is good too. The only negative thing I could say is logging onto the website is a bit of a pain. I would recommend this card.

Disappointing, not platinum service

Reviewed and not recommended by Mark on 17 Jul 2016

I was excited to get this card – platinum service, rewards, balance transfer and no annual fee. Alas, it was too good to be true. The balance transfer was a good deal, but this is not a Platinum card. The customer service is terrible. I waited over three months to have a purchase protection claim rejected. I had to call multiple times to move the process along, and customer service staff were incompetent.

The online portal is hideous and unintuitive. I cancelled the card as I had no faith in them backing me up in any situation. Beware!

Saved money

Reviewed and recommended by Sandra on 10 Jul 2016

The balance transfer and the fees associated with the card are minimal. When using the card, the fees are small and when you are in contact with the customer service staff, they are great. Always willing to help and happy to offer opportunities, whether it be ways to pay your card off or putting together payment plans.


Reviewed and recommended by Kelly on 03 Jul 2016

I’ve only ever done gift cards but am pretty sure there are options to buy things too. There’s no annual fee at all, which is awesome. The HSBC website leaves a little to be desired and it took me a while to figure out to find the login to view my balance. I also don’t think there’s the option to schedule payments, but otherwise an awesome card.

Large number of hidden fees

Reviewed and not recommended by Kevin on 12 Mar 2016

Be careful, there are a large number of hidden fees. For example, the international transaction fee and paying for lotto tickets is considered as a cash advance. You also need more reward points to redeem items than other credit cards such as the David Jones American Express. HSBC customer service personnel are also difficult to understand.

Show 4 more reviews
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Same as standard
Rewards program
Rewards Plus
Temporary residents


Additional cardholders
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.22 months2%95% of credit limit21.99% p.a.

Balance transfers to this card

Balance transfer earns rewards
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
95% of credit limit
Available to existing customers

Banks you can't balance transfer from

You can't balance transfer to the HSBC Platinum Credit Card at the promotional balance transfer rate from:

  • HSBC

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.22 months2%95% of credit limit 21.99% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

Cash advances 1.83% 21.99% p.a.
Purchases 1.67% 19.99% p.a.


Annual fee
$129 p.a.
Cash advance fee
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

Rewards & points

Rewards program basics

First purchase bonus
Reward points expiry
Rewards program
Rewards Plus
Sign up bonus
Spend required for bonus points

Earning points with this card

Frequent flyer points
1 pt per $1 spent
Overseas earn rate
2 pts per $1 spent
Points cap per month
Points cap per year
Points earned on ATO payments
Reward points
1 pt per $1 spent

Additional benefits

Airport lounge access
2 passes every year
Complimentary flight voucher
Concierge service


This card comes with benefits worth an estimated $1,051

ShoppingEstimated value
Extended warranty
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
Guaranteed pricing / price protection insurance
Valuation based on the assumption of making a $100 claim once every 10 years. Extensive conditions apply. There is no retail market for this type of insurance, so no premium saving.
Purchase protection
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
Total estimated value$1,051
Annual fee$129
Net customer value$922
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $40,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Temporary residents are eligible
Age Pension, Disability Pension, Overseas Pension, Veteran's Pension and Widower's Pension are acceptable.
Carer's Allowance, Child Support Payments, Family Tax Benefits and Parenting Payments and Foster Care Allowance are acceptable.
Austudy and Youth Allowance are not acceptable.
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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