Platinum Credit Card card image

HSBC Platinum Credit Card

Advertiser disclosure
Purchase rate
19.99% p.a.
Balance transfer rate
0% p.a. for 36 months and then 21.99% p.a.
Annual fees
$129 $29 in the first year
Interest free days on purchases
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Mozo editorial review HSBC Platinum Credit Card - last updated: 8 April 2021

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What's hot
  • Double 2020 Mozo Experts Choice Award winner
  • $29 annual fee in first year ($129 after)
  • 36 month 0% balance transfer offer
What's not
  • 19.99% purchase rate
Mozo snapshot

The multiple 2020 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. There is a $129 annual fee but it's reduced to $29 in the first year of holding the card. 

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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.

Plus, if you are looking to clear debt, the HSBC Platinum Credit Card currently has a 36 month 0% balance transfer offer attached to it. 

The card comes with a $129 annual fee ($29 in the first year) 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.

Who is it 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.

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Any catches

Just keep in mind that this is not a card you want to carry a balance on, as this flashy piece of plastic features a massive 19.99% purchase rate! So be sure to always pay off your balance in full every month. 

Rewards program details

Rates and fees information correct as at 3 July 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.
What your points get you

Fly Sydney to London return

212,000 points

Fly Sydney to Melbourne one-way

15,600 points

$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 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.

Value of rewards points

Spend $20,000 (Visa)

Spend $24,000 (Visa)

Spend $15,600 (Visa)

Spend $212,000 (Visa)

at 10,000 points monthly

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


19.99% p.a.


0% p.a. for 36 months and then 21.99% p.a.


21.99% p.a.




$29 in the first year




3%, min $4.00










Payment options

Apple Pay, Google Pay

Rewards privileges

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?

Customer service

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About HSBC