Platinum Credit Card card image

HSBC Platinum Credit Card

Advertiser disclosure
Purchase rate
19.99% p.a.
Balance transfer rate
0% p.a. for 12 months and then 21.99% p.a. (2.00% balance transfer fee)
Annual fees
$149 $0 in the first year
Interest free days on purchases
55

Mozo editorial review HSBC Platinum Credit Card - last updated: 2 November 2023

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What's hot
  • Multiple 2023 Mozo Experts Choice Award-winner
  • No annual fee in first year ($149 after)
  • 12 month 0% p.a. balance transfer offer (with a 2% balance transfer fee)
What's not
  • 19.99% p.a. purchase rate
Mozo snapshot

The HSBC Platinum Credit Card could be a great option for those looking to spend up and score big on rewards points. There is a $149 annual fee but it's reduced to $0 in the first year of holding the card. 

This card's impressive features won over the judges in the 2023 Mozo Experts Choice Awards, taking out a whopping 4 awards, including best Balance Transfer Platinum Credit Card, best Premium Rewards Platinum Credit Card, best Cashback Premium Credit Card and best Qantas Frequent Flyer premium Credit 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 12-month 0% balance transfer offer (with a 2% balance transfer fee). 

The card comes with a $149 annual fee ($0 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.



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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 sizable 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 6 March 2024. 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

24,000 points

$100 Cash

24,000 points

Points earning

1.5 points per dollar on Visa, up to $120,000 per year

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 Cathay Pacific 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 $16,000 (Visa)

Spend $16,000 (Visa)

Spend $10,400 (Visa)

Spend $159,467 (Visa)

at $120,000 yearly

36 months

How do we calculate these points?

Rate and fee details

Rates

19.99% p.a.

none

0% p.a. for 12 months and then 21.99% p.a. (2.00% balance transfer fee)

yes

21.99% p.a.

55

Fees

$149.00

$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 Wallet

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
Price
Features
Customer service
Convenience
Trust

Latest reviews of HSBC Platinum Credit Card

About HSBC

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NAB

Low Rate Card

13.49% p.a.

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

$59 $0 in the first year

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American Express

Platinum Edge Credit Card

23.99% p.a.

No current offer

$195 $0 in the first year

Membership Rewards

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American Express

Qantas Ultimate Card

23.99% p.a.

No current offer

$450

Qantas Frequent Flyer

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American Express

Explorer Credit Card

23.99% p.a.

No current offer

$395

Membership Rewards

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American Express

Velocity Platinum Card

23.99% p.a.

No current offer

$375

Velocity Frequent Flyer

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American Express

Qantas Discovery Card

23.99% p.a.

No current offer

$0

Qantas Frequent Flyer

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American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

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American Express

Velocity Escape Card

23.99% p.a.

No current offer

$0

Velocity Frequent Flyer

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American Express

Qantas Ultimate Card

Qantas Frequent Flyer

$450

100,000

1.25 points up to 100,000 points/year, then
1 point uncapped

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NAB

Qantas Rewards Premium Card

Qantas Frequent Flyer

$250 $150 in the first year

70,000

0.66 points up to $3,000/month, then
0.33 points up to $6,000/month

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American Express

Qantas Premium Card

Qantas Frequent Flyer

$249

20,000

1 point uncapped

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NAB

Rewards Signature Card

NAB Rewards

$295 $145 in the first year

160,000

1.25 points uncapped

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American Express

Qantas Discovery Card

Qantas Frequent Flyer

$0

No current offer

0.75 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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NAB

Qantas Rewards Signature Card

Qantas Frequent Flyer

$395 $295 in the first year

120,000

1 point up to $5,000/month, then
0.5 points up to $20,000/month

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Westpac

Altitude Black

Altitude Rewards

$295 $150 in the first year

150,000

1.25 points uncapped

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NAB

Low Rate Card

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

13.49% p.a.

$59 $0 in the first year

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Citi

Premier Credit Card

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

21.49% p.a.

$300 $150 in the subsequent years if you spend $48,000 on eligible purchases or cash advances in previous year., $150 in the first year

Citi Rewards Program

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Bank of Queensland

Blue Visa Credit Card

0% p.a. for 9 months and then 21.74% p.a.

0% p.a. for 9 months then 20.74% p.a.

$60

Q Rewards

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Virgin Money

Virgin Australia Velocity Flyer Card - Balance Transfer Offer

0% p.a. for 24 months and then 20.99% p.a.

20.74% p.a.

$149 $0 in the first year

Velocity Frequent Flyer

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Bankwest

More Mastercard

0% p.a. for 6 months and then 19.99% p.a. (1.00% balance transfer fee)

19.99% p.a.

$100

Bankwest More Rewards

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NAB

Low Rate Card

13.49% p.a.

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

$59 $0 in the first year

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American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

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HSBC

Low Rate Credit Card

12.99% p.a.

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

$99

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Australian Unity

Low Rate Visa Credit Card

9.90% p.a.

No current offer

$59

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MOVE Bank

Low Rate Credit Card

8.99% p.a.

0% p.a. for 6 months and then 8.99% p.a.

$59 $0 in the first year

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NAB

Low Rate Card

13.49% p.a.

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

$59 $0 in the first year

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American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

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HSBC

Low Rate Credit Card

12.99% p.a.

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

$99

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Australian Unity

Low Rate Visa Credit Card

9.90% p.a.

No current offer

$59

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MOVE Bank

Low Rate Credit Card

8.99% p.a.

0% p.a. for 6 months and then 8.99% p.a.

$59 $0 in the first year

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Bank of Queensland

Blue Visa Credit Card

0% p.a. for 9 months then 20.74% p.a.

0% p.a. for 9 months and then 21.74% p.a.

$60

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Westpac

Flex Card

0% p.a.

No current offer

$120 $10 monthly fee waived if the outstanding balance on the previous statement is paid in full by the due date.

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NAB

StraightUp Card

n/a

No current offer

$240 $20/month - waived if no spend & no balance owing

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