HSBC Platinum Qantas Credit Card

19.99% p.a.

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

$199

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HSBC Platinum Qantas Credit Card Review

Rates and fees information correct as at 26 April 2018.

Review published: 21 December 2016

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

  • 60,000 bonus Qantas Points (spend $3,000 in the first 3 months)

  • Complimentary features like concierge and travel insurance

What's not:

  • High 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. Not only will you earn 1 point per $1 spent up to $2,500 (then 0.5 points), but your points stash will be pumped up by 60,000 bonus Qantas Points (when you spend $3,000 on purchases in the first 3 months) which could take you one-way to London. Add to that the generous insurance perks - extended warranty, travel insurance, purchase protection and guaranteed pricing - and this card becomes 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 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 and $199 annual fee aren’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?

The 60,000 bonus point offer is only available to new customers.

How are HSBC credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
5.5

Based on 139
HSBC credit cards reviews

5.4 5.5 5.6 5.4 5.8

Read HSBC credit card reviews by the Mozo community

Latest reviews of HSBC Platinum Qantas Credit Card

HSBC

HSBC Platinum Qantas Credit Card credit card review

Overall rating   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 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...

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 (QLD), reviewed almost 3 years ago

HSBC

HSBC Platinum Qantas Credit Card credit card review

Overall rating   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 technology and keeping up to date with online and mobile banking systems and pay pass (mobile banking app and pay pass do not exist!).

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 (NSW), reviewed over 3 years ago

HSBC

HSBC Platinum Qantas Credit Card credit card review

Overall rating   5 / 10

Hope you don't like the internet!

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

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 (VIC), reviewed over 3 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Revealing rewards

How do we do it?

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.

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.

Privileges

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

Special offers

  • Receive 60,000 bonus Qantas Points when you spend $3,000 on eligible purchases within 3 months.

Value of rewards points

  • Need to spend $16,160 (Visa)

  • Need to spend $8,000 (Visa)

  • Need to spend $180,000 (Visa)

  • at 7,500 points monthly

  • Never

Details behind our 'value of rewards' calculations

  • 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

  • 16160 points buys a Myer $100 Gift Card

  • 8000 points buys a Qantas Sydney-Melbourne flight

  • 120000 points buys a Qantas Sydney-London flight

* How did we do it? Find out...

Rates

  • 19.99% p.a.

  • none

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

  • yes

  • 21.99% p.a.

  • 55

Fees

  • $199.00

  • none

  • none

  • $0.00

  • $30.00

  • 3%, min $4.00

  • 3.00%

  • $8.00

  • $0.00

  • $0.00

Other financial bits

  • $20.00

  • 3.0

Features

  • yes

  • none

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

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!

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

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