HSBC

Compare HSBC credit cards for balance transfers to save money and manage finances or earn points for free flights and upgrades.

HSBC credit cards

HSBC Platinum Credit Card

On HSBC's website

HSBC Platinum Credit Card

4.4

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Interest-free days

Up to 55 days on purchases

Annual fee

$0.00 for 1st year

Details

  • 0% p.a. balance transfer offer for 12 months, with a 2% transfer fee.
  • No annual fee for the first year, then $149 p.a. after that.
  • Earn 1.5 Reward Plus points per $1 spent on eligible purchases.
  • Redeem your points into cashback or various e-gift cards from Bunnings, Coles, Woolworths, Amazon, JB Hi-Fi, Uber, and more.

Pros & cons

Pros
  • The complimentary LoungeKey membership gives you access to 2 airport lounge passes every year.
  • Check out the exclusive dining and shopping discounts from time to time.
  • Includes complimentary travel insurance with Rental Vehicle Excess Insurance in Australia and Transit Accident Insurance.
  • Plus Extended Warranty and Purchase Protection insurance.
  • Additional cardholders at no extra cost.
  • Offers points transfer options with partners like Asia Miles, KrisFlyer, and Velocity Frequent Flyer.
  • Get a minimum credit limit of $6,000.
  • This card accepts Apple Pay and Google Pay.
Cons
  • High overseas transaction fee at 3%.
  • The balance transfer rate reverts to 21.99% p.a. after 12 months.
  • A cap of 10,000 points per statement period, or 120,000 points annually.
HSBC Platinum Qantas Credit Card

On HSBC's website

HSBC Platinum Qantas Credit Card

3.2

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Interest-free days

Up to 55 days on purchases

Annual fee

$0.00 for 1st year

Details

  • Earn 1.5 Qantas Points per $1 on eligible purchases in your first 12 months, then 1 Qantas Point per $1 spent after that.
  • 0% p.a. balance transfer offer for 12 months, with a 2% transfer fee.
  • Save $299 in the first year with no annual fee, then $299 p.a. after that.

Pros & cons

Pros
  • Includes complimentary travel insurance with Rental Vehicle Excess Insurance in Australia and Transit Accident Insurance.
  • Plus Extended Warranty and Purchase Protection insurance.
  • Save $99.50 with the Qantas Frequent Flyer program complimentary membership.
  • Get a free Frequent Values™ membership, which gives you access to 4,500 promos at select stores, restaurants, hotels, and family attractions.
  • Enrol family members as additional cardholders at no extra cost.
  • Up to 55 interest-free days.
  • This card is compatible with Apple Pay and Google Pay.
  • Take control of your card with the HSBC Australia app.
Cons
  • The balance transfer rate reverts to the cash advance rate of 21.99% p.a. after the introductory period.
  • There is a 2% BT fee.
  • After the first year, the annual fee increases to $299 p.a.
  • Qantas Points are capped at 120,000 per year.
  • Does not include complimentary lounge access.
  • A 3% foreign transaction fee applies to purchases made overseas.
HSBC Star Alliance Credit Card

On HSBC's website

HSBC Star Alliance Credit Card

4.6

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Interest-free days

Up to 55 days on purchases

Annual fee

$0.00 for 1st year

Details

  • Earn 1 Star Alliance Point per $1 on eligible purchases (capped at $3,000), then 0.5 points per $1 thereafter.
  • Pay no annual fee in the first year ($450 p.a. thereafter).
  • Reach Star Alliance Gold Status by spending $4,000 or more on eligible purchases within the first 90 days of account opening.
  • Gold Status grants you benefits like Priority Airport Check-in, Priority Baggage Handling, Priority Boarding, Airport Lounge Access, Extra Baggage Allowance, and more.

Pros & cons

Pros
  • 0% p.a. on balance transfers for 12 months with a 2% balance transfer fee.
  • Offers 0% interest for 6 months on flight bookings.
  • Use or convert your Star Alliance points with major frequent flyer programs from participating airlines.
  • Includes complimentary travel insurance with Rental Vehicle Excess Insurance in Australia and Transit Accident Insurance.
  • Plus Extended Warranty and Purchase Protection insurance.
  • Get a free Frequent Values™ membership, which gives you access to 4,500 promos at select stores, restaurants, hotels, and family attractions.
  • Enrol family members as additional cardholders at no extra cost.
  • Up to 55 interest-free days.
  • This card is compatible with Apple Pay and Google Pay.
  • Take control of your card with the HSBC Australia app.
Cons
  • The $3,000 monthly spend threshold can feel restrictive, even though there’s no cap on earning potential.
  • The annual fee reverts to $450 after the initial year.
  • To maintain Gold member status after the first year, you’ll need to spend at least $60,000 annually. This can be ideal for frequent travelers and high spenders.
  • A 3% foreign transaction fee applies to purchases made overseas.
HSBC Premier World Mastercard (Reward Plus)

On HSBC's website

HSBC Premier World Mastercard (Reward Plus)

4.6

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Interest-free days

Up to 55 days on purchases

Annual fee

$0.00 p.a. ongoing

Details

  • Choose between the HSBC Rewards Plus or HSBC Qantas Rewards programs, offering the flexibility to suit your needs.
  • No annual fee.
  • 0% p.a. balance transfer offer for 12 months, with a 2% transfer fee.

Pros & cons

Pros
  • With Rewards Plus, earn 1.5 points per $1 spent on eligible purchases, which you can redeem for cashback, gift cards, or travel.
  • With Qantas Rewards, earn 1.5 Qantas Points per $1 on eligible purchases in your first year, then 1 Qantas Point per $1 after that. Plus, enjoy offers from 27,000 local and global retail partners through HSBC’s home&Away Privilege Program.
  • The complimentary insurance coverage includes Domestic and International Travel Insurance, Transport Accident Insurance, Extended Warranty Insurance, and Price Protection Insurance, offering peace of mind for your travels and purchases.
  • With a starting credit limit of $10,000, you’ll have added flexibility for larger purchases.
  • Offers 10% off when you book with Agoda or Expedia.
  • Get access to over 1,000 airport lounges worldwide for a relaxing travel experience.
  • There are no fees when you get additional cards for your family members.
  • This card is compatible with Apple Pay and Google Pay.
  • Take control of your card with the HSBC Australia app.

Cons
  • No sign-up bonus offer at the moment.
  • There's a 3% foreign transaction fee.
  • Rewards Points are capped at 10,000 per statement or 120,000 per year.
HSBC Low Rate Credit Card

On HSBC's website

HSBC Low Rate Credit Card

4.0

Balance transfer

12 months at 0% p.a.

Purchase rate

12.99% p.a. ongoing

Interest-free days

Up to 55 days on purchases

Annual fee

$99.00 p.a. ongoing

Details

  • The low ongoing purchase rate of 12.99% p.a. helps you save on interest costs.
  • 0% p.a. for 12 months on balance transfers with a 2% fee.
  • With no foreign transaction fees, this card is a great choice for online and international purchases.
  • Includes complimentary domestic travel insurance.

Pros & cons

Pros
  • Get a free Frequent Values™ membership, which gives you access to 4,500 promos at select stores, restaurants, hotels, and family attractions.
  • Gives you access to offers from 27,000 local and global retail partners through HSBC’s home&Away Privilege Program.
  • The credit limit starts at $1,000.
  • Get up to Up to 55 interest-free days.
  • This card is compatible with Apple Pay and Google Pay.
  • Take control of your card with the HSBC Australia app

Cons
  • As a low-rate card, this option doesn’t include a rewards program.
  • There’s no first-year waiver on the $99 annual fee.
  • Complimentary international travel insurance is not included, which is typical for a low-rate card.
  • There is a 2% balance transfer fee.
  • Plus, balance transfers revert to the high cash advance rate of 25.99% p.a.

HSBC offers various credit cards, including low-cost options, platinum benefits, and rewards. It is Australia's sole credit card brand providing gold frequent flyer status within the Star Alliance airline network.

Types of HSBC credit cards

HSBC offers a variety of credit cards to cater to different lifestyles and preferences, such as:

  • Rewards credit cards: Accumulate points on your card purchases and redeem them for various rewards, including gift vouchers and travel benefits.
  • Frequent flyer credit cards: These cards offer travel insurance, airport lounge access, and other perks to enhance your travel experience.
  • Low rate credit cards: If you carry a balance on your credit card, a low-interest card from HSBC could help you save on interest charges.
  • Premium cards: Designed for high spenders, premium credit cards offer exclusive benefits such as concierge services, Priority Pass memberships, and more.

Benefits of HSBC credit cards

Explore the myriad benefits that come with using HSBC credit cards, including:

  • Reward programs: Earn points on your everyday spending and redeem them for travel rewards, cashback, merchandise, and more.
  • Travel benefits: Enjoy travel insurance coverage, airport lounge access, and other perks that make your journeys more convenient and rewarding.
  • Security features: Benefit from advanced security measures such as fraud protection, zero liability for unauthorised transactions, and secure online banking.
  • Interest free periods: Take advantage of interest-free days on purchases when you pay your full balance by the due date.
  • Financial flexibility: Access to credit when you need it, with the option to choose from a range of credit limits based on your financial situation.

How to apply for an HSBC credit card

Applying for an HSBC credit card is a straightforward process. Here's a step-by-step guide:

  1. Compare cards: Visit the HSBC website to compare the features and benefits of the available credit cards.
  2. Check eligibility: Ensure you meet the eligibility criteria, which typically include age, income requirements, and residency status.
  3. Submit application: Complete the online application form with your personal details, financial information, and preferred credit limit.
  4. Verification: HSBC will assess your application and may request additional documents for verification.
  5. Approval: Upon approval, you will receive your new HSBC credit card and the terms and conditions.

Managing your HSBC credit card

Once you have your HSBC credit card, it's essential to manage it responsibly. Here are some tips:

  • Payment: Always pay your credit card bill on time to avoid late fees and interest charges.
  • Budgeting: Create a monthly budget to track your expenses and ensure you can afford your credit card payments.
  • Security: Keep your card details secure and immediately report any unauthorised transactions to HSBC.
  • Rewards: Maximise your rewards by understanding the benefits of your card and using it for eligible purchases.

Help choosing an HSBC credit card

Navigate your options and find the perfect HSBC credit card with expert assistance.

  • FAQs

  • Pros & cons

What security features do HSBC credit cards offer?

HSBC credit cards come with advanced security features such as fraud protection, zero liability for unauthorized transactions, and secure online banking to ensure your financial information is safe.

How can I redeem rewards earned on my HSBC credit card?

You can redeem the rewards points you earn on your HSBC credit card for a variety of options, including travel rewards, cashback, merchandise, gift vouchers, and more. Check the HSBC rewards program for details on how to redeem your points.

Are there any fees associated with HSBC credit cards?

HSBC credit cards may come with annual fees, late payment fees, cash advance fees, and foreign transaction fees. Check the terms and conditions of your specific card to understand the fees that may apply.

What should I do if I notice suspicious activity on my HSBC credit card?

If you notice any unauthorized or suspicious activity on your HSBC credit card, contact HSBC customer service immediately to report it. HSBC will investigate the issue and take appropriate action to protect your account.

Pros

Global acceptance

HSBC credit cards are widely accepted globally, thanks to their affiliation with major international payment networks like Visa and Mastercard, providing users with convenience and flexibility when traveling or making purchases abroad.

Extensive rewards programs

HSBC offers extensive rewards programs with their credit cards, allowing users to earn points or cashback on their purchases, which can be redeemed for a variety of rewards including travel, merchandise, gift cards, or statement credits.

Travel benefits

Many HSBC credit cards come with travel-related benefits such as complimentary travel insurance, airport lounge access, travel credits, and concierge services, making them attractive options for frequent travelers.

Introductory offers

HSBC frequently provides attractive introductory offers for new cardholders, such as bonus points upon sign-up, waived annual fees for the first year, or promotional interest rates on balance transfers or purchases, enhancing the value proposition of their credit cards.

Enhanced security features

HSBC employs advanced security features on its credit cards, including chip technology, fraud detection systems, real-time transaction monitoring, and zero liability for unauthorized transactions, offering peace of mind to cardholders.

Cons

High annual fees

Some HSBC credit cards may come with high annual fees, particularly premium or rewards cards with extensive benefits, which may not be justified for users who do not fully utilize the card's features.

Foreign transaction fees

HSBC credit cards typically charge foreign transaction fees for purchases made in a foreign currency, which can add up to significant costs for users who frequently travel internationally or shop from overseas merchants.

Complex rewards programs

While rewarding, HSBC's rewards programs can be complex to navigate, with varying redemption options, points valuation, and restrictions, requiring users to carefully manage their rewards to maximize their value.

Limited acceptance of some cards

Certain HSBC credit cards may have limited acceptance compared to cards from larger banks, especially internationally, which could be inconvenient for users who frequently travel or shop online from overseas merchants.

Limited customer service accessibility

While HSBC offers customer service support for credit card-related inquiries, accessing assistance may sometimes be challenging due to long wait times or limited availability, especially during peak hours or weekends

As seen on

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