Ask Roland a Question

Hi, I’m the site founder and I will personally answer your question within a business day.

By submitting this question you agree to our privacy policy.

HSBC Low Rate Credit Card
HSBC Low Rate Credit Card

HSBC Low Rate Credit Card

Updated 16 March 2020

Apply by 30 June 2020

Purchase Rate (p.a)


Balance Transfer (p.a)

0% for 20 months 2% BT fee applies. reverts to 25.99% p.a.

Annual Fee (p.a)


$0 over 20 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% on balance transfers for 20 months
  • Complimentary domestic travel insurance
  • No overseas transaction fees
  • Eligible with Apple Pay & Google Pay
  • Up to 55 days interest free on purchases

  • 2% one off fee applies to balance transfers
  • $30 late payment fee
  • $99 annual fee review

Editor Review

HSBC Low Rate Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of about this card.

The HSBC Low Rate Credit Card

Providing a seriously long 20 months interest free on balance transfers, the HSBC Low Rate Credit Card is one very appealing money-saver. A great option if you want to pay down existing credit card debt, this card also offers a low ongoing rate on purchases and a selection of very enticing extras, making it seem well worth its low annual fee.

What we love...

While we certainly wish it would, credit card debt doesn’t simply disappear overnight. It takes time to pay it down. Luckily, that’s exactly what the HSBC Low Rate Credit Card offers: time. As a new cardholder, you could benefit from 0% p.a. on balance transfers for 20 months, as long as you apply and are approved by 30 June 2020.

As one of the longer balance transfer offers currently available, this could be the perfect option if you have non-HSBC card debt that you want to pay down, but you need extra time to do so. Just be aware that your total balance transfer cannot exceed 90% of your approved credit limit, and you must make the balance transfer request when you apply for the card.

Aside from its balance transfer offer, the HSBC Low Rate Credit Card can also help you save money with its low ongoing purchase rate. If you tend to carry a balance, this could certainly help keep costs lower, however, it’s always best to clear your balance each statement period when possible.

But that’s not all. While many low rate credit cards tend to be low on features, the HSBC Low Rate Credit Card has features a-plenty. For a nice low annual fee – and no charge for additional cardholders – this card provides access to the home&Away Privilege Program and complimentary insurance cover.

What’s not so great...

Where there are ups, there are also downs. With the HSBC Low Rate Credit Card, you need to read the small print before utilising the balance transfer offer. You will pay a 2% balance transfer fee, calculated as a percentage of the balance being transferred to your HSBC credit card account. HSBC will apply this fee at the point of transfer, so it forms part of your total outstanding balance.

Another important factor to be aware of is the offer’s reversion rate. Any transferred balance left unpaid at the end of the introductory period will revert not to the purchase rate, but instead, to the card’s much higher cash advance rate. To avoid this, be sure to pay off your transferred balance before that 20 months is up.

Why should you choose this card?

If you are 18 or over, have a good credit rating and you earn at least $40,000 per year, you could apply for the HSBC Low Rate Credit Card. By applying, you could benefit from a long 0% p.a. balance transfer offer, a low ongoing purchase rate and an affordable annual fee. Plus, you get some very nice extras on top.

In addition, you can benefit from added peace of mind when travelling within Australia, with the card’s complimentary Domestic Travel Insurance, as well as mobile payments technology, including Apple Pay and Google Pay. A more recent added feature to this card is no overseas transaction fees.

Overall Rating

Providing 0% p.a. on balance transfers for 20 months, this low rate credit card offers an awesome way to pay down credit card debt, while enjoying a low annual fee and extras such as Instant Savings, interest free finance and complimentary domestic travel insurance.


The information, included card rates and fees, present in the review is accurate as of the date of the review. Please refer to issuer website and application for the most current information.

User reviews

HSBC Low Rate Credit Card ( based on 123 user reviews )

78% rating based on 123 reviews

Customer Service
37% Visitor

28 May 2013

I always clear my balance every month and cleared my balance prior to heading to Europe for a month holiday. I also cleared the balance as soon as I returned, total period between balance being cleared was 34 days. However as I made a couple of purchases prior to the end of my statement period i was slugged with two interest charges of approx $20 each and a later payment reminder fee of $30 even though no late payment reminder was received. When I rang up to inquire all their customer service representatives were difficult to understand through their accents and were rather dismissive. Be very careful of their fine print for interest free days as they will gouge you on fees and charges. I would not recommend them and have moved my accounts form HSBC

Does not recommend this card

Molly Devlin

28 January 2013

Chose it for no annual fee and is good cheap card. Kind of exey on interest rates but just need to make sure they are paid off at end of month. Will be using it soon for 5 years interest free offer. Better than store finance.

Recommends this card


28 January 2013

the rate is a little high, but the 0 annual fee cancels this out. i pay my balance off regularly and also use the 55 days - so pretty happy with it

Recommends this card

Rates and fees

Interest rates

Purchase rate 12.99% p.a.

Cash advance rate 25.99% p.a.

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 20 months

Balance transfer revert rate 25.99% p.a.

Balance transfer from personal loan No

Balance transfer fee 2% one off

Balance transfer limit 100% of approved credit limit

Banks you can't balance transfer from HSBC

Credit limits

Minimum credit limt $1,000

Maximum credit limit $60,000

Fees & repayments

Annual fee $99 p.a.

Additional card holder fee $0 p.a.

Foreign transaction fee 0%

Minimum repayment 3%

Cash advance fee 3%

Late payment fee $30

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance No

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No


Eligible with Apple Pay & Google Pay


HSBC Low Rate Credit Card

If you want to save money with a low interest rate and balance transfers, check out the award-winning HSBC Credit Card, with 0% p.a. on balance transfers for the first 20 months (2% One-off balance transfer fee applies) and a low 12.99% p.a. on purchases. HSBC Credit Card holders can are benefit from complimentary domestic travel insurance and no overseas transaction fees. Perfect for those wanting to be covered locally when they travel.

You can save money on interest by transferring existing credit card debt on to the HSBC Credit Card, allowing you to pay off your debt quicker. Cardholders can also benefit from competitive interest rates, up to 55 days interest free on purchases, and access to numerous offers and discounts worldwide with HSBC’s home&Away program.

Key features

  • 0% p.a. on balance transfers for 20 months from non HSBC credit cards (reverts to the variable cash advance rate, with a 2% Balance Transfer Fee)
  • Complimentary domestic travel insurance
  • No overseas transaction fees
  • $99 annual fee
  • 12.99% p.a. on purchases
  • Free additional card holder
  • Up to 55 days interest-free on purchases when you pay the full balance (including any balance transfer, promotional purchases and the 0% p.a. balance transfer offer above) by the due date each month
  • Eligible with Apple Pay & Google Pay

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Resident or citizen of Australia. Temporary residents are eligible.

  • Minimum income of $40,000 p.a.

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

152 questions (showing the latest 10 Q&As)



28 October 2019
can you apply if you only have international income from nz by way of invest properties? Thanks
    Roland B Bleyer - Founder


    29 October 2019
    Hi Scarlett, I assume then that you do not complete an Australian tax return? If you are still only doing returns in NZ. I think this could be an issue. If you are now a resident of Australia for tax purposes. Then they should be able to see this revenue as income. I would reach out to HSBC directly. They are quite a flexible international bank.


14 October 2019
Any credit card will be approved with no bank staymemf
    Roland B Bleyer - Founder


    16 October 2019
    Hi Dongdong, these days they all seem to want to connect with your statements. The new laws that came into play from 1st Jan allow the banks to view the last 2 years of transactions. You need good credit to get approved for a new card. Bank statements on their own should not be a deal breaker. Have a look at the ANZ Low Rate. This is one of the easier cards to get approved with low minimum requirements.
Erica Wise

Erica Wise

30 September 2019
I am a Carer on Centrelink payments but have a “good” credit rating & car as security. Do you think I would be approved for C/Card
    Roland B Bleyer - Founder


    30 September 2019
    Hi Erica, it could be possible depending on your personal situation. I would stick with one of the big 4 banks. They are usual more flexible with income requirements. Have a look at the ANZ low rate.
Cheryl Atkins

Cheryl Atkins

11 July 2019
I have just taken ownership of a large house in Wisconsin USA and although ( I have a debt of $50000) I am looking for a credit card that will get me to the USA to finalise the take over and sell the property. All my money was invested in this property.
    Roland B Bleyer - Founder


    12 July 2019
    Hi Cheryl, I would suggest the ANZ Rewards Travel Adventure card. This is if you can pay the balance off the card each month. It comes with overseas travel insurance plus no foreign fees (typically 3%) on purchases. Also you can cash advance overseas with no additional fees.


17 June 2019
Can I get a credit card with bad credit and can I apply with my partner as a joint income For one card
    Roland B Bleyer - Founder


    18 June 2019
    Hi Rhys, its nearly impossible to get approved for a new credit card with bad credit. There are some providers that have joint cards but not HSBC. St George are a bank that allow joint credit cards still. What I suggest, if your partner has good credit. That they apply for a credit card. Then you become a secondary card holder. That means you will not be part of the application process nor be liable for the debt.


18 April 2019
Hi, If I'm on maternity leave, is I'm eligible for apply a credit card.
    Roland B Bleyer - Founder


    23 April 2019
    Hi Mani, I would suggest you wait until you are back at work. Banks may be concerned about your ability to pay if you do not go back to work.


26 February 2019
can I get credit card
    Roland B Bleyer - Founder


    27 February 2019
    Hi Faresa, you need to meet the minimum requirements to apply for a credit card. If you do, then you can apply. You can apply for the HSBC Low Rate directly on the HSBC site - Who can apply: Must be over 18 and be an Australian resident. Earn at least $20,000 p.a. Have a good credit rating


23 February 2019
do you have a list of the interest free retailers for HSBC???


11 December 2018
Hi . I'm uber driver my income is 22000 and my rate Credit is average now I wanna know can I apply for 5000 credit card? Thanks
    Roland B Bleyer - Founder


    11 December 2018
    Hi Mehdi, the ANZ Low Rate could be an option for you. It has a minimum income requirement of $15,000. It could be possible to get a $5,000 limit, subject to credit approval.


20 November 2018
What is classified as a good credit rating?
    Roland B Bleyer - Founder


    21 November 2018
    Hi Catnip, it is the bank you are applying with that really makes this call. For me, good credit is no paid or unpaid defaults or any other negative marks on your credit file. A good income v expense ratio. A good asset v liability ratio. Additionally I suggest that you only apply for one piece of credit every 6 months.


26 October 2018
Hi what would the chances be of getting a $10000 credit card with one default that was paid once notified within 10 days
    Roland B Bleyer - Founder


    29 October 2018
    Hi Andrew, a paid default will still be a problem for being approved. It will have a great negative impact on your application. Though approval will depend on a range of factors. When I had a paid default on my credit file I was unable to get further unsecured credit. I waited the long 5 years until it came off my file. It also depends on what the default was for. If it was for a telco or something like that for a small amount. Then this is not as great as if it related to a credit card. Bottom line you could have a go if you have not applied for some time. Though approval may be very difficult.


11 September 2018
Which credit card does not require credit check?
    Roland B Bleyer - Founder


    11 September 2018
    Hi Marcelo, all credit card issuers do a credit check as part of the application process. Only people with good credit can be approved for a new credit card.

Similar Credit Cards

ANZ Low Rate Credit Card – 0% Balance Transfer

59 reviews
$0 saved over 22 months
Help us improve

By submitting this feedback you agree to our privacy policy.

My credit card is not listed

By submitting this form you agree to our privacy policy.