Low Rate Credit Card card image

HSBC Low Rate Credit Card

Advertiser disclosure
Purchase rate
12.99% p.a.
Balance transfer rate
0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)
Annual fees
Interest free days on purchases

Mozo editorial review HSBC Low Rate Credit Card - last updated: 15 October 2020

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What's hot
  • 0% balance transfer rate for 20 months (2.00% balance transfer fee)
  • Up to 55 days interest free days
  • 0% foriegn currency transaction fee
  • 2020 Mozo Experts Choice Award winner
What's not
  • 25.99% cash advance rate
Mozo snapshot

If you're looking for a no frills credit card, then the HSBC credit card deserves a look. 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. It's for this reason that it snapped up a 2020 Mozo Experts Choice Award for best Balance Transfer Credit Card. 

There's also a 12.99% purchase rate and the option for free additional cardholders. However if you fail to make a payment, you'll be hit with a $30 late payment fee, and cash advances are charged at a very high 25.99%.

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Key features

For a solid, run of the mill credit card, the HSBC Low Rate card and its 12.99% purchase rate may be worth considering. 

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.

If you are looking to transfer debts over onto this card, for the first 20 months those debts will incur 0% balance transfer rate. However, to transfer these debts over you'll need to pay a 2.00% balance transfer fee.

There are also some nice features, like the up to 55 interest free days and fee free foreign currency transactions. As well as the options for free additional cardholders.

Who is it 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.

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Any catches

Make sure you set up your automatic payments and you watch that credit limit. This is not the best card for cash advances given the high rate charged, and you'll be stung by a $30 fee if you make a late payment or you go over your limit.


Rates and fees information correct as at 24 January 2022 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.

12.99% p.a.


0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)


25.99% p.a.








3%, min $4.00










Payment options

Apple Pay, Google Pay

Other benefits

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

Customer Reviews

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About HSBC