The sign up process is long and difficult. 45 mins + online and two phone calls. The amount of personal information needed is worrying and over the top. They also take photos of you (face-scanning) for the application. I asked them to delete the information once I cancelled my account and they refused. Be careful if you value your privacy. The sign up process to view your account online is also long and tedious. All phone consultants are overseas.
This card for its relatively low annual fee has quite a lot going for it. The earn rate for points isn't as good as other cards but it comes with lounge passes and all the regular insurances you would expect from a platinum card. HSBC also quite regularly have balance transfer and cash withdrawal promotions if you need it at competitive rates.
I have the HSBC Platinum Credit Card. For a fee of approximately $60 per year it comes with some insurances which I have not had to use as of yet. I also use it to accrue Qantas bonus points to hopefully book a reward flight at some stage. It's a pretty good card for the yearly subscription.
A fraudulent credit card that was issued under my name by somebody else remains "open" status on Equifax after 2.5 years!! This has cause me delays on home settlement with another bank and causing me to pay the penalty fees due to their delay in responding to my complain. After two weeks nobody ever tried to email or call me about the issue! I have tried all the possible ways to contact them such as in person, at branch, email and phone calls! This is the worst ever credit cards department in Australia! Staff at the branch were polite but the bank system is terrible!
Excellent at checking on possible fraudulent activity. When I was worried about certain entries on my card, it was so quick and easy to have the card cancelled and replaced. The customer service was excellent.
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**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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