HSBC is closing its Australian consumer credit cards: 17 November 2026 is the last day you can use your card, and accounts are cancelled from 18 November 2026. If you still hold an HSBC card, there are a few dates to act on before then, starting with 16 October 2026 if you want to cash in Rewards Plus points.

Here’s what’s happening, which cards are affected and what to do next.

What’s happening to HSBC credit cards?

HSBC says it’s closing its retail banking business in Australia in stages. It stopped taking new credit card applications from 31 July 2026, and now it’s winding up existing consumer credit cards. Corporate cards aren’t affected.

Which cards are affected?

All HSBC Australia consumer credit cards, including these ones we list:

• HSBC Star Alliance Credit Card
• HSBC Premier World Mastercard
• HSBC Platinum Qantas Credit Card
• HSBC Platinum Credit Card
• HSBC Low Rate Credit Card

What does it mean for you?

If you pay your card off in full every month, the main job is moving your spending (and any direct debits) to another card before 17 November.

If you carry a balance, there’s one piece of good news. From 18 November 2026, HSBC will cut any purchase rate above 12.99% p.a. down to 12.99% p.a. Here’s a rough example: on a $3,000 balance, a rate of 19.99% p.a. costs ~$50 a month in interest (3,000 × 19.99% ÷ 12), while 12.99% p.a. costs ~$32 a month (3,000 × 12.99% ÷ 12). That’s a saving of ~$18 a month, before any repayments reduce the balance. The 19.99% here is just an example, so check your own statement for your current rate.

Your balance doesn’t disappear when the card closes. HSBC expects to move outstanding balances to Credit Corp Group Limited in the first half of 2027, subject to regulatory approval.

What can you do?

• Use your points. If you have HSBC Rewards Plus points, the last day to redeem them for cash back is 16 October 2026. After that, HSBC says you can still redeem them for e-Gift cards or frequent flyer programs where available, so redeem what you can before your account closes.
• Move your direct debits to another card or account before 18 November.
• Keep paying at least the minimum each month until the balance is cleared.
• Choose a replacement card. If you liked earning points, compare frequent flyer cards or Qantas cards. If you’d rather keep things simple, look at no annual fee cards.

“If you’ve got an HSBC card, put two dates in your diary now: 16 October for any Rewards Plus cash back, and 17 November for your last day of spending. Then spend half an hour moving your direct debits. It’s boring, but it saves a lot of hassle later.”

Pauline Hatch, credit card expert at CreditCard.com.au

Frequently asked questions

General advice only: this article is general information and doesn’t take into account your objectives, financial situation or needs. Consider the Target Market Determination (TMD) and the terms and conditions before applying for any credit card. Changes are as stated in HSBC Australia’s credit card key information (updated 9 October 2026) and its Important Notices. Card details are correct as at 12 October 2026 and can change.