HSBC Low Rate Credit Card

13.25% p.a.

0% p.a. for 20 months and then 21.99% p.a. (2.00% balance transfer fee)

$79

n/a

HSBC Low Rate Credit Card

13.25% p.a.

0% p.a. for 20 months and then 21.99% p.a. (2.00% balance transfer fee)

$79

n/a

Mozo Review   HSBC Low Rate Credit Card Review

Last updated: 4 December 2017.

What's hot:
  • $79 annual card fee

  • Up to 55 days interest free days

What's not:
  • Late payment fees

Mozo snapshot:

If you're looking for a no frills credit card then the HSBC credit card deserves a look. With a low annual fee of $79 and up to 55 interest free days it is a good card to have in your wallet for everyday purchases.

It certainly comes with some snazzy features like a 0% balance transfer offer for 20 months (one off 2% balance transfer fee) and a low annual fee. The 13.25% purchase rate is standard compared with other balance transfer credit cards and if you pay off your balance in full each month you won't pay any interest or card fee.

Key features:

The standard interest rate for the HSBC Low Rate card is 13.25% for purchases. The card is a Visa card so you can use it for in store and online purchases here and overseas. For purchases you get up to 55 interest free days when you pay the full balance by the due date. Be sure to set up regular monthly repayments as late payments will incur a $30 fee.

While the HSBC Low Rate card is not a rewards credit card, card holders get access to HSBC's Home and Away privileges programme which has special offers and discounts for travel, dining, shopping and experiences both in Australia or around the world. There are more than 19,000 offers available worldwide.

Who it's good for:

Anyone looking for a no frills credit card. The card has no annual fees and as long as you pay off the balance in full each month you won't pay any interest.

Any catches?

Make sure you set up your automatic payments and you watch that credit limit. You'll be stung by a $30 fee if you make a late payment or you go over your limit.

Details

Rates and fees information correct as at 22 August 2018.

Rates
  • 13.25% p.a.

  • none

  • 0% p.a. for 20 months and then 21.99% p.a. (2.00% balance transfer fee)

  • yes

  • 21.99% p.a.

  • 55

Fees
  • $79.00

  • none

  • none

  • none

  • $30.00

  • 3%, min $4.00

  • 3.00%

  • $8.00

  • $0.00

  • $0.00

Features
  • $30.00

  • 3.0

  • yes

  • none

Payment options

Apple Pay
Google Pay

Other benefits

Access to the Home&Away Privilege Program to receive discounts and benefits.

Customer Reviews

How are HSBC credit cards rated by the Mozo community?

Overall customer rating
5.5/10
Price
5.4/10
Features
5.6/10
Customer service
5.6/10
Convenience
5.4/10
Trust
5.8/10

Latest reviews of HSBC Low Rate Credit Card

  • Overall
    9/10
    Great service and fantastic rewards

    Although their interest rate is high it does not affect us as we pay off our balance at each...

    Although their interest rate is high it does not affect us as we pay off our balance at each statement. Their rewards program is great and the points add up quickly and we often redeem for gift vouchers and treat ourselves to free purchases. They are quick to notify us if they feel an unauthorised transaction has taken place, (which none were but we purchased something from overseas which aroused their suspicions )

    Price
    5/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    8/10
    Trust
    9/10

    Garry | NSW

    27 Jun 2016

  • Overall
    0/10
    Run and don't look back.

    The only place I have seen good reviews is on here. Which to me is somewhat suspect. This is the...

    The only place I have seen good reviews is on here. Which to me is somewhat suspect. This is the worst bank EVER. Seriously run the other way. I was roped into the credit card and there has been one issue after another. From them randomly canceling the cards (I have had three cards cancelled with explanations of "Sorry we don't know what happened') to just plain old terrible and poor communication and customer service. This "Bank" is an all over fail. I can not wait to finalise credit transfer and get the hell out of this poor excuse of a company. Would not recommend to my worst enemy.

    Price
    0/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10

    Melissa | QLD

    12 Apr 2016

  • Overall
    9/10
    Great customer service secure online banking setup

    Well for example I haven't been able to make payments recently and they haven't hassled me or...

    Well for example I haven't been able to make payments recently and they haven't hassled me or debited from my savings account. I guess its up to me! :P just great interest rates etc

    Price
    8/10
    Features
    5/10
    Customer service
    9/10
    Convenience
    7/10
    Trust
    8/10

    Shannon | QLD

    12 Apr 2016

  • Overall
    5/10
    Good for balance transfers

    Good for balance transfers.

    Good for balance transfers.

    Price
    4/10
    Features
    4/10
    Customer service
    4/10
    Convenience
    1/10
    Trust
    3/10

    Melinda | WA

    22 Oct 2015

  • Overall
    7/10
    Good customer service

    Has good telephone customer service.

    Has good telephone customer service.

    Price
    4/10
    Features
    7/10
    Customer service
    7/10
    Convenience
    4/10
    Trust
    6/10

    Chrisula | NSW

    08 Oct 2015

HSBC

About HSBC

HSBC in Australia is part of the HSBC Group, one of the world's largest banking and financial services organisations. HSBC has products for every money need you can think of, including savings accounts and term deposits for your day-to-day money management, a suite of home loans to finance your dream home, plus credit card and personal loan options. With branches all over the world, HSBC is the world's local bank!

See HSBC credit cards