HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 22 months and then 21.99% p.a. (2.00% balance transfer fee)
$129 Refunded when you spend over $6,000 p.a
Rewards Plus
HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 22 months and then 21.99% p.a. (2.00% balance transfer fee)
$129 Refunded when you spend over $6,000 p.a
Rewards Plus
HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 22 months and then 21.99% p.a. (2.00% balance transfer fee)
$129 Refunded when you spend over $6,000 p.a
Rewards Plus
Mozo Review HSBC Platinum Credit Card Review
Last updated: 18 October 2018.
What's hot:
0% balance transfer rate for 22 months
Visa Platinum Concierge service
Mozo Experts Choice Award 2018
What's not:
19.99% purchase rate
2% balance transfer fee
Mozo snapshot:
HSBC's Platinum Credit Card is 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 (with a one-off 2% balance transfer fee). There is a $129 annual fee but it's refunded if you spend over $6,000 annually. The HSBC Platinum card is one of the best rewards cards in the market for retail rewards according to our experts, winning a 2018 Mozo Experts Choice Award in the Premium Rewards Credit Card category.
Key features:
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.
If you have pre-existing debt with another provider, the HSBC Platinum offers a great 0% balance transfer rate for 22 months. However when the honeymoon is over any outstanding balance reverts to the 21.99% cash advance rate, so make sure you have your balance down to zero before the 22 months is up.
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.
Also, if you're looking for a low purchase rate, the HSBC Platinum probably isn't for you. Sitting at a mediocre 19.99%, this card's purchase rate is certainly worth flagging as a danger to credit card debt accumulators.
Who it's good for:
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.
Any catches?
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%.
Rewards program details
Rates and fees information correct as at 13 December 2018. 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
239,200 points
Fly Sydney to Melbourne one-way
15,600 points
$100 Giftcard
20,000 points
$100 Cash
30,000 points
Points earning
1 point per dollar on Visa, uncapped
Rewards scheme
Redeem your points for travel, gift cards, retail rewards and shopping gift cards.
You can choose to transfer points to airline programs including AsiaMiles, Singapore Airlines KrisFlyer and Velocity Points.
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 $30,000 (Visa)
Spend $20,000 (Visa)
Spend $15,600 (Visa)
Spend $239,200 (Visa)
Uncapped
36 months
How do we calculate these points?
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.
Rate and fee details
Rates
-
19.99% p.a.
-
none
-
0% p.a. for 22 months and then 21.99% p.a. (2.00% balance transfer fee)
-
yes
-
21.99% p.a.
-
55
Fees
-
$129.00
-
none
-
6000
-
$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,
Guaranteed Pricing
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?
Latest reviews of HSBC Platinum Credit Card
- Overall6/10
Good online services
first time application
Read full review
first time application
Price6/10Features-Customer service-Convenience-Trust-Less
Tuan | New South Wales
reviewed over 1 year ago
- Overall3/10
Great customer service
Terrible interest rates
Read full review
Terrible interest rates
Price3/10Features3/10Customer service10/10Convenience1/10Trust5/10Less
Ellen | New South Wales
reviewed over 2 years ago
- Overall7/10
Great rewards program
Rewards program
Read full review
Rewards program
Price9/10Features9/10Customer service5/10Convenience5/10Trust4/10Less
Christin | New South Wales
reviewed almost 3 years ago
- Overall9/10
Seamless. Canberra branch best bank I've used.
The branch staff are really good, always help out if the credit card call centre hits a hurdle....
Read full review
The branch staff are really good, always help out if the credit card call centre hits a hurdle. Great personal service, feel like a valued client.
Price8/10Features8/10Customer service9/10Convenience9/10Trust9/10Less
Shawn | Australian Capital Territory
reviewed almost 3 years ago
- Overall7/10
Great Customer Service
Customer service is great!!
Read full review
Customer service is great!!
Price6/10Features6/10Customer service8/10Convenience8/10Trust6/10Less
Alan | Western Australia
reviewed about 3 years ago
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!
Promoted
American Express
Explorer Credit Card
0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
20.74% p.a.
$395
Promoted
Woolworths
Everyday Platinum Credit Card
0% p.a. for 14 months and then 21.99% p.a.
19.99% p.a.
$49 $0 in the first year
Promoted
Australian Military Bank
Low Rate Visa Credit Card
0% p.a. for 12 months and then 11.99% p.a.
11.99% p.a.
$49
Promoted
Bankwest
Breeze Platinum Mastercard
0% p.a. for 13 months and then 12.99% p.a. (2.00% balance transfer fee)
0% p.a. for 13 months then 12.99% p.a.
$99
Promoted
28 Degrees
Platinum Mastercard
4.99% p.a. for 6 months and then 21.99% p.a.
21.99% p.a.
$0
Promoted
American Express
Velocity Escape Card
0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
20.74% p.a.
$0
Promoted
American Express
Explorer Credit Card
2 points per dollar on Amex, uncapped
20.74% p.a.
$395
Promoted
Woolworths
Everyday Platinum Credit Card
1 point per dollar on Visa, uncapped
19.99% p.a.
$49 $0 in the first year
Promoted
Bankwest
More Platinum Mastercard
2 points per dollar on Mastercard, up to 400000 points per year
19.99% p.a.
$160
Promoted
ANZ
Frequent Flyer Black
1 point per dollar on Visa, up to $7,500 per month, then
0.5 points per dollar on Visa, uncapped
19.99% p.a.
$425
Promoted
Virgin Money
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0.66 points per dollar on Visa, up to $1,500 per month, then
0.5 points per dollar on Visa, uncapped
20.74% p.a.
$129 $64 in the first year
Promoted
American Express
Qantas Ultimate Card
1.25 points per dollar on Amex, uncapped
20.74% p.a.
$450
Promoted
Bankwest
Qantas World Mastercard
0.66 points per dollar on Mastercard, uncapped
20.49% p.a.
$270
Promoted
Virgin Money
Virgin Australia Velocity High Flyer Card
1 point per dollar on Visa, up to $8,000 per month, then
0.5 points per dollar on Visa, uncapped
20.74% p.a.
$289
Promoted
Australian Military Bank
Low Rate Visa Credit Card
0% p.a. for 12 months and then 11.99% p.a.
$49
11.99% p.a.
Promoted
Woolworths
Everyday Platinum Credit Card
0% p.a. for 14 months and then 21.99% p.a.
$49 $0 in the first year
19.99% p.a.
Promoted
Bankwest
Breeze Platinum Mastercard
0% p.a. for 13 months and then 12.99% p.a. (2.00% balance transfer fee)
$99
0% p.a. for 13 months then 12.99% p.a.
Promoted
28 Degrees
Platinum Mastercard
4.99% p.a. for 6 months and then 21.99% p.a.
$0
21.99% p.a.
Promoted
Bankwest
Zero Platinum Mastercard
2.99% p.a. for 9 months and then 17.99% p.a.
$0
17.99% p.a.
Promoted
Virgin Money
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months and then 20.99% p.a.
$129 $64 in the first year
20.74% p.a.
Promoted
Virgin Money
Virgin Australia Velocity Flyer Card - Purchase Rate Offer
0% p.a. for 6 months and then 20.99% p.a.
$129
0% p.a. for 14 months then 20.74% p.a.
Promoted
Australian Military Bank
Low Rate Visa Credit Card
11.99% p.a.
$49
0% p.a. for 12 months and then 11.99% p.a.
Promoted
Bankwest
Breeze Mastercard
0% p.a. for 13 months then 12.99% p.a.
$79
0% p.a. for 13 months and then 12.99% p.a. (2.00% balance transfer fee)
Promoted
Bankwest
Breeze Platinum Mastercard
0% p.a. for 13 months then 12.99% p.a.
$99
0% p.a. for 13 months and then 12.99% p.a. (2.00% balance transfer fee)
Promoted
Coles
Low Rate Mastercard
0% p.a. for 15 months then 12.99% p.a.
$58
0% p.a. for 6 months and then 19.99% p.a.
Promoted
NAB
Low Rate Platinum Card
0% p.a. for 9 months then 13.99% p.a.
$100
0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)
Promoted
Bendigo Bank
Low Rate Platinum Mastercard
11.99% p.a.
$89
No current offer
Promoted
Australian Military Bank
Low Rate Visa Credit Card
11.99% p.a.
0% p.a. for 12 months and then 11.99% p.a.
$49
Promoted
Bankwest
Breeze Platinum Mastercard
0% p.a. for 13 months then 12.99% p.a.
0% p.a. for 13 months and then 12.99% p.a. (2.00% balance transfer fee)
$99
Promoted
Bankwest
Zero Platinum Mastercard
17.99% p.a.
2.99% p.a. for 9 months and then 17.99% p.a.
$0
Promoted
Coles
Rewards Mastercard
0% p.a. for 15 months then 19.99% p.a.
0% p.a. for 6 months and then 19.99% p.a.
$99
Promoted
NAB
Low Rate Card
0% p.a. for 6 months then 13.99% p.a.
0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)
$59
