HSBC

HSBC Platinum Qantas Credit Card

Purchase rate

19.99% p.a.

Balance transfer rate

0% p.a. for 12 months and then 21.99% p.a.

Annual fee

$79 $0 in the first year

Rewards program

Qantas Frequent Flyer

HSBC Platinum Qantas Credit Card

Purchase rate

19.99% p.a.

Balance transfer rate

0% p.a. for 12 months and then 21.99% p.a.

Annual fee

$79 $0 in the first year

Rewards program

Qantas Frequent Flyer

Details

Details

Mozo Review HSBC Platinum Qantas Credit Card Review

Last updated: 30 November 2018.

What's hot:

1 point per $1 spent up to $2,500 (then 0.5 points)
1 bonus point per $1 spent on selected Qantas products
$79 annual fee
Complimentary features like concierge and travel insurance

What's not:

21.99% cash advance rate
19.99% purchase rate

Mozo snapshot:

You’ll be up in the air in a flash with the HSBC Platinum Qantas Credit Card and its generous earn rate of 1 point per $1 spent up to $2,500 (then 0.5 points). Add to that the generous insurance perks - extended warranty, travel insurance, purchase protection and guaranteed pricing - and a relatively low annual fee of just $79 a year and this card could quickly become the perfect travelling companion.

Key features:

The HSBC Platinum Qantas Credit Card and its $1 to 1 Qantas point rewards scheme will leave you smiling at the thought of your next vacation. Be aware that the earning rate does drop down to 0.5 points for every $1 spent after $2500 in a given statement period.

All points you earn are accredited to the Qantas rewards program and can be redeemed for flights and products from the Qantas store. Better yet, you’ll receive 1 bonus point for every $1 you spend on selected Qantas products, so you could be earning points toward your next flight when paying for your latest trip!

On top of the incentives we’ve mentioned above, you’ll also enjoy the perk of complimentary concierge and two complimentary Qantas Club lounge invitations (when you make an eligible purchase within 3 months).

The HSBC Platinum Qantas Credit Card also comes with a $79 annual fee, an introductory 0% balance transfer offer (for the first 12 months), and a 55 day interest free period for new purchases if you pay your balance in full and on time each month, but you’ll want to make sure you do to avoid the 19.99% purchase rate and $30 late payment fee.

While the 3% foreign exchange margin isn't the lowest on the market, your card does come complete with payWave and Checkout as part of the Visa network, and you’ll also have access to the exclusive HSBC home&away program.

Who it's good for:

The HSBC Platinum Qantas Credit Card is perfect for any travellers or rewards seekers who want to make full use of the Qantas rewards program.

Or if you’re looking to ditch debt, the introductory 0% balance transfer offer should do the trick. Just be sure to make use of it in the first 12 months because it reverts back to the high 21.99% cash advance rate afterwards.

Any catches?

Watch out for the high 21.99% cash advance rate.

Rewards program details

What your points get you

Fly Sydney to London return

120,000 points

Fly Sydney to Melbourne one-way

8,000 points

$100 Giftcard

16,160 points

$100 Cash

Points earning

1 point per dollar on Visa, up to 2500 points per month, then
0.5 points per dollar on Visa, up to 7500 points per month

Rewards scheme

Points are automatically accredited to the Qantas Frequent Flyer Program.

All rewards redeemed via Qantas Frequent Flyer.

One additional bonus point per dollar on select Qantas products.

HSBC home&away program offers discounts on shopping, travel and more, in over 40 countries.

Value of rewards points

Earn $100 gift card reward

Spend $16,160 (Visa)

Earn domestic flight: Sydney-Melbourne one-way reward

Spend $8,000 (Visa)

Earn international flight: Sydney-London return reward

Spend $180,000 (Visa)

Are points capped?

at 7,500 points monthly

Do points expire?

Never

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

Purchase rate

19.99% p.a.
Intro purchase rate

none
Balance transfer rate

0% p.a. for 12 months and then 21.99% p.a.
Balance transfer revert to cash

yes
Cash advance rate

21.99% p.a.
Interest free days

55

Fees

Annual card fee

$79.00
Introductory annual fee

$0 in the first 1 year
Annual fee spend threshold

none
Reward program fee

$0.00
Late payment fee

$30.00
Cash advance fee

3%, min $4.00
Foreign exchange margin

3.00%
Duplicate statement fee

$8.00
Transaction verification fee

$0.00
Additional card fee

$0.00

Features

Minimum repayment amount

$20.00
Minimum repayment percent

3.0
Additional cardholders

yes
Other restrictions

none

Payment options

Apple Pay, Google Pay

Rewards privileges

Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing

Other benefits

Make an eligible purchase within the first 3 months of receiving your card to receive 2 complimentary Qantas Club lounge invitations

Customer Reviews

How are HSBC credit cards rated by the Mozo community?

Overall customer rating

5.6/10

Based on 438 HSBC credit card reviews

Price

5.4/10

Features

5.5/10

Customer service

5.6/10

Convenience

5.5/10

Trust

5.8/10

Latest reviews of HSBC Platinum Qantas Credit Card

Overall

8/10

Good provider but not for gaining Qantas points

This credit card has multiple tiers in Qantas Frequent Flyer point accumulation. That is, one...

Read full review

This credit card has multiple tiers in Qantas Frequent Flyer point accumulation. That is, one point for each dollar spent using the card if your balance is less than $3,000 a month. After reaching this threshold, you will be awarded 0.5 points for each dollar spent. Therefore, it gives cardholders less value compared to other cards.

Price

3/10

Features

-

Customer service

-

Convenience

-

Trust

-

Less

Paulo | Victoria

reviewed almost 2 years ago
Overall

0/10

Duped loyal customers by halving points rewards

Just got hit with the $199 fee in July, only to be told in August (funny, that) that I am now...

Read full review

Just got hit with the $199 fee in July, only to be told in August (funny, that) that I am now only able to earn 2,500 points at $1 per point each month, and thereafter I can only earn .5 of a point for each dollar spent. My monthly spend is about $9,000, so guess where I'm taking my business? As far away from HSBC as possible.

Price

0/10

Features

0/10

Customer service

0/10

Convenience

0/10

Trust

0/10

Less

Peter | Queensland

reviewed over 3 years ago
Overall

6/10

20k Qantas points but technologically outdated

The brand is world wide and trusted, however they are still in the stone ages when it comes to...

Read full review

The brand is world wide and trusted, however they are still in the stone ages when it comes to technology and keeping up to date with online and mobile banking systems and pay pass (mobile banking app and pay pass do not exist!).

Price

4/10

Features

7/10

Customer service

3/10

Convenience

1/10

Trust

8/10

Less

Kimberly | New South Wales

reviewed over 4 years ago
Overall

5/10

Hope you don't like the internet!

High interest rates and even higher fees: only for the discerning debt acquirer.

Read full review

High interest rates and even higher fees: only for the discerning debt acquirer.

Price

5/10

Features

7/10

Customer service

2/10

Convenience

0/10

Trust

10/10

Less

Ryan | Victoria

reviewed over 4 years ago

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!

See HSBC credit cards

Promoted

Woolworths

Everyday Platinum Credit Card

balance transfer rate

0% p.a. for 14 months and then 21.99% p.a.

purchase rate

19.99% p.a.

annual fee

$49 $0 in the first year

HSBC Platinum Qantas Credit Card

Mozo Review HSBC Platinum Qantas Credit Card Review

What's hot:

What's not:

Mozo snapshot:

Key features:

Who it's good for:

Any catches?

Rewards program details

What your points get you

Points earning

Rewards scheme

Value of rewards points

How do we calculate the rewards?

Rate and fee details

Rates

Fees

Features

Payment options

Rewards privileges

Other benefits

Customer Reviews

How are HSBC credit cards rated by the Mozo community?

Overall customer rating

Latest reviews of HSBC Platinum Qantas Credit Card

Good provider but not for gaining Qantas points

Duped loyal customers by halving points rewards

20k Qantas points but technologically outdated

Hope you don't like the internet!

About HSBC