The multiple 2019 Mozo Experts Choice Award winning HSBC Platinum Credit Card, which was named as one of the best cards in the Premium Rewards Credit Card category and Balance Transfer Platinum Credit Card category, could be a great option for those looking to spend up and score big on rewards points. It's also ideal if you've got some debt you're looking to blast, as it comes with a generous 0% balance transfer offer for 22 months. There is a $129 annual fee but it's refunded if you spend over $6,000 annually.
The HSBC Platinum offers excellent reward point earning capacity with one point for every dollar spent. Helpfully, points aren't capped, although they do expire after 36 months.
HSBC Platinum Credit Card customers also 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.
The card comes with a $129 annual fee which is charged each year on the anniversary of the account opening date. But the good news is that if you spend $6,000 on eligible purchases within the following 12 months, this fee will be refunded to you. Make sure you check out the fine print on this offer over at HSBC's website.
Special Offer - 0% interest for 22 months on balance transfers.
If you have pre-existing debt with another provider, the HSBC Platinum credit card offers a 0% balance transfer rate for 22 months.
However, when the honeymoon is over any outstanding balance will revert to the 21.99% cash advance rate, so make sure you have your balance down to zero before the 22 months is up!
This offer is available to new, approved customers who apply for the HSBC Platinum Credit Card by 30 June 2020.
The HSBC Platinum Credit Card is perfect for rewards points junkies and big spenders who love to travel and are meticulous about paying their outstanding balance off in full each month.
Be organised with your repayments. If you still have any remaining transferred debt after the balance transfer term is up, the 0% will revert to the astronomically high cash advance rate of 21.99%.
Fly Sydney to London return
212,000 points
Fly Sydney to Melbourne one-way
-
$100 Giftcard
24,000 points
$100 Cash
20,000 points
1 point per dollar on Visa, up to 10000 points per month
Redeem your points for travel, gift cards, retail rewards and shopping gift cards.
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.
Spend $20,000 (Visa)
Spend $24,000 (Visa)
Spend $212,000 (Visa)
at 10,000 points monthly
36 months
How do we calculate these points?
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.
19.99% p.a.
none
0% p.a. for 22 months and then 21.99% p.a.
yes
21.99% p.a.
55
$129.00
none
$6,000.00
$0.00
$30.00
3%, min $4.00
3.00%
$8.00
$0.00
$0.00
$20.00
3.0
yes
none
Apple Pay, Google Pay
Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection
Access to the Home&Away Privilege Program to receive discounts and benefits.
It's a very good bank, the only down side is limited physical branches but online is good.
Read full reviewIt's a very good bank, the only down side is limited physical branches but online is good.
I have been using this organisation for less than 1 year. Their online banking system is archaic. If you update the app you will go backwards. Dumb bank. I will be closing my account ASAP.
Read full reviewI have been using this organisation for less than 1 year. Their online banking system is archaic. If you update the app you will go backwards. Dumb bank. I will be closing my account ASAP.
The sign up process is long and difficult. 45 mins + online and two phone calls. The amount of personal information needed is worrying and over the top. They also take photos of you (face-scanning) for the application. I asked them to delete the information once I cancelled my account and they refused. Be careful if you value your privacy. The sign up process to view your account online is also long and tedious. All phone consultants are overseas.
Read full reviewThe sign up process is long and difficult. 45 mins + online and two phone calls. The amount of personal information needed is worrying and over the top. They also take photos of you (face-scanning) for the application. I asked them to delete the information once I cancelled my account and they refused. Be careful if you value your privacy. The sign up process to view your account online is also long and tedious. All phone consultants are overseas.
This card for its relatively low annual fee has quite a lot going for it. The earn rate for points isn't as good as other cards but it comes with lounge passes and all the regular insurances you would expect from a platinum card. HSBC also quite regularly have balance transfer and cash withdrawal promotions if you need it at competitive rates.
Read full reviewThis card for its relatively low annual fee has quite a lot going for it. The earn rate for points isn't as good as other cards but it comes with lounge passes and all the regular insurances you would expect from a platinum card. HSBC also quite regularly have balance transfer and cash withdrawal promotions if you need it at competitive rates.
Their customer service is incredibly bad. I lodged a complaint with them 7 weeks ago and they still haven't provided a solution, just a 'we are still looking into it' response.
Read full reviewTheir customer service is incredibly bad. I lodged a complaint with them 7 weeks ago and they still haven't provided a solution, just a 'we are still looking into it' response.
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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CUA
Low Rate Credit Card
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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Westpac
Low Rate
13.74% p.a.
0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
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Bankwest
Zero Platinum Mastercard
17.99% p.a.
2.99% p.a. for 9 months and then 17.99% p.a.
$0
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American Express
Qantas Discovery Card
20.74% p.a.
No current offer
$0
Qantas Frequent Flyer
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Bankwest
Breeze Mastercard
0% p.a. for 15 months then 10.99% p.a.
2.99% p.a. for 9 months and then 10.99% p.a. (0% balance transfer fee)
$49
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NAB
Low Rate Card
12.99% p.a.
0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)
$59
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ANZ
Low Rate
12.49% p.a.
0% p.a. for 22 months and then 20.24% p.a. (1.50% balance transfer fee)
$58 $0 in the first 0 years
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Bank of Melbourne
Vertigo
0% p.a. for 7 months then 13.99% p.a.
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
$55 $0 in the first year
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American Express
Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
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Westpac
Altitude Platinum
Qantas Frequent Flyer
$200 $99 in the first year
60,000
0.5 points uncapped
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American Express
Qantas Ultimate Card
Qantas Frequent Flyer
$450
55,000
1.25 points uncapped
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American Express
Velocity Escape Card
Velocity Frequent Flyer
$0
No current offer
0.75 points uncapped
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Westpac
Altitude Black
Altitude Rewards
$250
150,000
1.25 points uncapped
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NAB
Qantas Rewards Premium Card
Qantas Frequent Flyer
$250
30,000
0.66 points up to $3,000/month, then
0.33 points up to $6,000/month
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Bankwest
More Platinum Mastercard
Bankwest More Rewards
$160
75,000
2 points up to 400,000 points/year
Promoted
CUA
Low Rate Credit Card
0% p.a. for 20 months and then 21.74% p.a.
11.99% p.a.
$49 $0 in the first year
Promoted
Bankwest
Zero Platinum Mastercard
2.99% p.a. for 9 months and then 17.99% p.a.
17.99% p.a.
$0
Promoted
Westpac
Low Rate
0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)
13.74% p.a.
$59
Promoted
CUA
Platinum Credit Card
0% p.a. for 20 months and then 21.74% p.a.
19.99% p.a.
$149 $0 in the first year
CUA Platinum Rewards
Promoted
Citi
Clear Credit Card
0.90% p.a. for 15 months and then 22.24% p.a.
0.90% p.a. for 15 months then 14.99% p.a.
$99
Promoted
NAB
Low Rate Card
0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)
12.99% p.a.
$59
Promoted
Virgin Money
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 22 months and then 20.99% p.a.
20.74% p.a.
$129 $64 in the first year
Velocity Frequent Flyer
Promoted
Westpac
Altitude Platinum
0% p.a. for 18 months and then 21.49% p.a. (1.00% balance transfer fee)
20.49% p.a.
$200 $99 in the first year
Qantas Frequent Flyer
Promoted
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 20 months and then 21.74% p.a.
$49 $0 in the first year
Promoted
Westpac
Low Rate
13.74% p.a.
0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
Promoted
Citi
Clear Credit Card
0.90% p.a. for 15 months then 14.99% p.a.
0.90% p.a. for 15 months and then 22.24% p.a.
$99
Promoted
NAB
StraightUp Card
0% p.a.
No current offer
$120 $10/month - waived if no spend & no balance owing
Promoted
Bankwest
Breeze Mastercard
0% p.a. for 15 months then 10.99% p.a.
2.99% p.a. for 9 months and then 10.99% p.a. (0% balance transfer fee)
$49
Promoted
ANZ
Low Rate
12.49% p.a.
0% p.a. for 22 months and then 20.24% p.a. (1.50% balance transfer fee)
$58 $0 in the first 0 years
Promoted
NAB
StraightUp Card
0% p.a.
No current offer
$240 $20/month - waived if no spend & no balance owing
Promoted
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 20 months and then 21.74% p.a.
$49 $0 in the first year
Promoted
Westpac
Low Rate
13.74% p.a.
0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
Promoted
Bankwest
Zero Platinum Mastercard
17.99% p.a.
2.99% p.a. for 9 months and then 17.99% p.a.
$0
Promoted
Bankwest
Breeze Mastercard
0% p.a. for 15 months then 10.99% p.a.
2.99% p.a. for 9 months and then 10.99% p.a. (0% balance transfer fee)
$49
Promoted
NAB
Low Rate Card
12.99% p.a.
0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)
$59
Promoted
ANZ
Low Rate
12.49% p.a.
0% p.a. for 22 months and then 20.24% p.a. (1.50% balance transfer fee)
$58 $0 in the first 0 years
Promoted
Bank of Melbourne
Vertigo
0% p.a. for 7 months then 13.99% p.a.
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
$55 $0 in the first year
Promoted
Bankwest
Breeze Platinum Mastercard
0% p.a. for 15 months then 10.99% p.a.
2.99% p.a. for 9 months and then 10.99% p.a. (0% balance transfer fee)
$69
