Platinum Qantas Credit Card card image

HSBC Platinum Qantas 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.
Annual fees
Interest free days on purchases

Mozo editorial review HSBC Platinum Qantas Credit Card - last updated: 15 October 2020

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What's hot
  • 2020 Mozo Experts Choice Award
  • 1 Qantas Point per $1 spent up to $1,000
  • $99 annual fee
  • 0% balance transfer offer for 12 months
What's not
  • 21.99% cash advance 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 $1,000 (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 $99 a year and this card could quickly become the perfect travelling companion. 

It doesn't stop there though, as the Platinum Qantas Credit Card was also named a 2020 Mozo Experts Choice Award winner for Balance Transfer Platinum Credit Card. 

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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 $1,000 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 $99 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.

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.

Who is it 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 anyone looking to ditch debt via the balance transfer offer. 

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Any catches

Watch out for the high 21.99% cash advance rate. 

Rewards program details

Rates and fees information correct as at 29 January 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

110,400 points

Fly Sydney to Melbourne one-way

8,000 points

$100 Giftcard

19,010 points

$100 Cash


Points earning

1 point per dollar on Visa, up to 1000 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.

Special offers

Receive 20,000 bonus Qantas Points when you spend $3,000 on eligible purchases within 90 days from card approval.

Value of rewards points

Spend $26,020 (Visa)

Spend $8,000 (Visa)

Spend $196,800 (Visa)

at 7,500 points monthly


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 12 months and then 21.99% p.a.


21.99% p.a.








3%, min $4.00










Payment options

Apple Pay, Google Pay

Rewards privileges

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

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Customer service

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