Platinum Qantas Credit Card card image
Mini meca 2023

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. (2.00% balance transfer fee)
Annual fees
$299 $0 in the first year
Interest free days on purchases
55

Mozo editorial review HSBC Platinum Qantas Credit Card - last updated: 28 August 2023

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What's hot
  • 2022 Mozo Experts Choice Award
  • 1.5 Qantas Points per $1 spent up to $120,000 in the first year
  • $0 annual fee in the first year ($299 annual fee thereafter)
  • 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 1.5 points per $1 spent up to $120,000 in the first year (then 1 point in subsequent years). Add to that the generous insurance perks - extended warranty, travel insurance, purchase protection and guaranteed pricing - and no interest charged on balance transfers for the first year (T&Cs apply), 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 2022 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 1.5 Qantas point rewards scheme will leave you smiling at the thought of your next vacation. Be aware that after the first year, the earning rate does drop down to 1 point for every $1 spent up to $120,000.

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 $0 annual fee for your first year with a $299 annual fee thereafter, 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.

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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 25 July 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

110,400 points

Fly Sydney to Melbourne one-way

8,000 points

$100 Giftcard

20,010 points

$100 Cash

-

Points earning

1 point per dollar on Visa, up to $120,000 per year

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. Earn 1.5 Qantas Points for every $1 spent on eligible purchases up to $120,000 during the first 12 months of your account. Earn 1 Qantas Point for every $1 spent on eligible purchases up to $120,000 in subsequent years

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

Value of rewards points

Spend $20,010 (Visa)

Spend $8,000 (Visa)

Spend $110,400 (Visa)

at $120,000 yearly

Never

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

$299.00

$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,
Rental Vehicle Excess Insurance in Australia

Customer Reviews

How are HSBC credit cards rated by the Mozo community?

Overall
6.5/10
Price
5.5/10
Features
5.5/10
Customer service
5.5/10
Convenience
5.4/10
Trust
5.7/10
Based on 473 HSBC credit card reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

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