Platinum Credit Card (26 Month Balance Transfer Special Offer) card image

HSBC Platinum Credit Card (Special Offer)

Advertiser disclosure
Purchase rate
19.99% p.a.
Balance transfer rate
0% p.a. for 26 months and then 21.99% p.a. (1.00% balance transfer fee)
Annual fees
$129 $0 in the first year
Interest free days on purchases
55

Mozo editorial review HSBC Platinum Credit Card (Special Offer)

Last updated: 18 February 2021.

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What's hot
  • Complimentary travel insurance
  • Points are not capped
What's not
  • 19.99% purchase rate
Mozo snapshot

Looking to snag an award-winning credit card with some generous points earning potential and complimentary extras? Look no further than HSBC Platinum Credit Card.

Aside from uncapped points earning, free travel insurance and access to the Visa Platinum Concierge service, new cardholders are able to have the card's annual fee refunded if they spend $6,000 on eligible purchases. 

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Key features

The HSBC Platinum Credit Card offers some excellent reward point earning capacity, with cardholders able to earn one point for every dollar spent. Helpfully, points aren't capped, although they do expire after 36 months.

When it comes to card perks, customers will 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, and they’ll be able to make use of a range of complimentary insurance offers including travel insurance. 

While the card does come with a $129 annual fee, which is charged each year on the anniversary of the account opening date, the good news is that if you spend $6,000 on eligible purchases within the following 12 months the fee will be refunded to you.

It’s also worth bearing in mind that given its 19.99% purchase rate, the HSBC Platinum may not be the card for you if you regularly pay interest on your balance. However, if you’re looking for a way to ditch your existing credit card debt, HSBC's  special balance transfer offer might just be the deal you've been waiting for. 


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Who is it good for

The HSBC Platinum Credit Card could be perfect for rewards points junkies or anyone able to take advantage of the special 26 month 0% balance transfer offer.  

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Any catches

Just make sure you're organised with your repayments. If you still have any remaining transferred debt after the balance transfer term is up, the 0% balance transfer offer rate will revert to the high cash advance rate of 21.99%.

Rewards program details

Rates and fees information correct as at 26 February 2021. 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.
What your points get you

Fly Sydney to London return

212,000 points

Fly Sydney to Melbourne one-way

-

$100 Giftcard

24,000 points

$100 Cash

20,000 points

Points earning

1 point per dollar on Visa, up to 10000 points per month

Rewards scheme

Redeem your points for shopping, travel and merchandise rewards.

You can choose to transfer points to airline programs including AsiaMiles 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.

Value of rewards points

Spend $20,000 (Visa)

Spend $24,000 (Visa)

Spend $212,000 (Visa)

at 10,000 points monthly

36 months

How do we calculate the rewards?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,

  • figure out how many flights or gift cards or cashback credits you could get for those points,

  • work out what that's actually worth to you,

  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.

  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.

  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.

  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.

  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.

  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.

  • Shopping rewards are based on $100 gift cards from a major national department store.

  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Close

Rate and fee details

Rates
  • 19.99% p.a.

  • none

  • 0% p.a. for 26 months and then 21.99% p.a. (1.00% balance transfer fee)

  • yes

  • 21.99% p.a.

  • 55

Fees
  • $129.00

  • $0 in the first year

  • none

  • $0.00

  • $30.00

  • 3%, min $4.00

  • 3.00%

  • $8.00

  • $0.00

  • $0.00

Features
  • $20.00

  • 3.0

  • yes

  • none

Payment options

Apple Pay, Google Pay

Rewards privileges

Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection

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
5.6/10
Price
5.5/10
Features
5.6/10
Customer service
5.6/10
Convenience
5.5/10
Trust
5.8/10
Thumbnail icon for 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!

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11.99% p.a.

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13.99% p.a.

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$55 $0 in the first year

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0% p.a.

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11.99% p.a.

0% p.a. for 20 months and then 21.74% p.a.

$49 $0 in the first year

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12.49% p.a.

0% p.a. for 20 months and then 20.24% p.a.

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13.74% p.a.

0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

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13.99% p.a.

0% p.a. for 24 months and then 21.49% p.a.

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11.99% p.a.

0% p.a. for 18 months and then 11.99% p.a. (2.00% balance transfer fee)

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17.99% p.a.

2.99% p.a. for 9 months and then 17.99% p.a.

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13.74% p.a.

0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

$59

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10.99% p.a.

0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

$49 $0 in the first year

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13.99% p.a.

0% p.a. for 24 months and then 21.49% p.a.

$55 $0 in the first year

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11.99% p.a.

0% p.a. for 20 months and then 21.74% p.a.

$49 $0 in the first year

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0% p.a. for 6 months then 21.49% p.a.

0% p.a. for 6 months and then 22.24% p.a.

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3.99% p.a. for 6 months then 8.99% p.a.

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