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HSBC Platinum Credit Card – 0% Balance Transfer Offer
HSBC Platinum Credit Card – 0% Balance Transfer Offer

HSBC Credit Cards

HSBC Platinum Credit Card – 0% Balance Transfer Offer

Updated 22 June 2020

Transfer non-HSBC store or credit card debt. 0% p.a. on balance transfers for 22 months with no balance transfer fee. $129 annual fee that is refundable each year when you spend $6,000 on eligible purchases. More insurance than you can poke a stick at. Domestic and International Travel Insurance, Purchase Protection, Extended Warranty and Guaranteed Pricing Scheme.

T&Cs apply. Offer ends 30 September 2020

Purchase Rate (p.a)


Balance Transfer (p.a)

0% for 22 months No BT fee. reverts to 21.99% p.a.

Annual Fee (p.a)


$0 over 22 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. interest on balance transfers for 22 months with no balance transfer fee
  • No annual fee when you meet the spend criteria (reasonable $6,000 yearly spend required).
  • Earn 2 points per dollar on overseas purchases and 1 point per dollar for all other purchases.
  • Two airport lounge passes every year (LoungeKey membership)
  • Free additional card holders
  • Eligible with Apple Pay & Google Pay
  • International travel insurance for trips up to 4 months
  • Domestic travel insurance (inc rental car cover)
  • Extended Warranty, Purchase Protection, Guaranteed Pricing insurance
  • Instant savings at more than 4,500 stores, hotels and attractions.

  • Points earn is capped at 10,000 per statement period
  • High standard purchase rate like all rewards credit cards
  • 3% Foreign transaction fee review

Editor Review

HSBC Platinum Credit Card – 0% Balance Transfer Offer

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

The HSBC Platinum Credit Card: 0% p.a. Balance Transfer Offer for 22 Months

Offering 0% p.a. on balance transfers for an incredible 22 months with no balance transfer fee, the HSBC Platinum Credit Card could be a great find for new cardholders looking to pay off existing credit card debt. Aside from offering a wide range of platinum extras and the opportunity to earn rewards, the card also waives its annual fee after a yearly spend of $6,000, making it a pretty sweet deal indeed.

What we love...

One of the biggest drawcards currently on the HSBC Platinum Credit Card is its amazingly long balance transfer offer. So, what do you need to know? If you apply and are approved for this card, you can take advantage of 0% p.a. on balance transfers for 22 months. You will also pay no balance transfer fee on your transferred amount, making this very competitive within the market.

With a 22 month introductory period, this gives you a good long time to pay off your transferred balance, paying down your debt as you pay nothing in interest. As with any introductory offer, however, there are important factors to take note of. Let’s cover the main points:

  • You must make the request for the balance transfer when applying for the card. Unlike certain other offers that allow for balance transfer requests after application, this one does not. But, as long as you are organised and know what you need, it’s easy to make the request on application.
  • Your total balance transfers must not exceed 90% of your approved credit limit. It’s quite common for card providers to place a limit on the amount transferred as it provides some leeway should you spend on the card, or fail to repay the transferred balance and interest starts to accrue. As long as you know how much you want to transfer and what your credit limit is likely to be, this shouldn’t cause any problem.
  • The balance transfer must be from non-HSBC credit cards. Like most balance transfer cards, the HSBC Platinum Credit Card only allows transfers from other providers’ cards.
  • Any transferred balance left unpaid after the intro period reverts to the card’s cash advance rate. To avoid this, create a repayment plan that allows you to clear your transferred balance within the intro period. Setting up automatic payments can help with this.
  • Any payment made to the card will go towards paying off the balance attracting the highest interest first. That means payments will go towards paying off new spending or cash advances first. Make sure your payments cover all new transactions over and above the amount needed to pay off your transferred balance within the intro period. If you are unable to do this, avoid new transactions until the balance transfer has been paid off.

What’s not so great...

As with any credit card, you need to read the small print to make sure you understand everything that’s expected of you. Pay attention to the points mentioned above and make every effort to clear your transferred balance within that 22 month intro period. Having your unpaid balance revert to the card’s cash advance rate will make it much harder to pay off in the long term.

Why should you choose this card?

If you’re looking for a long balance transfer offer, this card could be an excellent option. As a platinum card, it has a higher minimum income requirement, at $40,000 per year, and it also requires applicants to have good credit history. If you meet the card’s eligibility, it could suit you if you’re interested in a card with heaps of platinum perks and rewards.

Another nice feature of the card is its annual fee waiver. This waives the card’s usual annual fee as long as you spend at least $6,000 on the card within the year. This essentially allows you access to all the card has to offer, while you pay nothing in annual fees. To give you an idea of what features are on offer, here’s a quick rundown:

  • Earn 2 Rewards Plus points per $1 on overseas purchases and 1 Rewards Plus point per $1 for all other purchases (capped at 10,000 per statement period).
  • Receive two airport lounge passes every year.
  • Travel in style with LoungeKey membership.
  • Enjoy Visa Premium Benefits (visit for more).
  • Access the home&Away Privilege Program to enjoy exclusive offers and privileges from partners at home and overseas.
  • Benefit from 20% off dining, and retail savings of up to 25% with your free membership to Frequent Values by Entertainment Publications.
  • Get instant savings at more than 4,500 stores, hotels and attractions.
  • Receive complimentary insurance, including Domestic and International Travel Insurances for trips up to 4 months with rental vehicle insurance excess cover, Transit Accident Insurance, Extended Warranty Insurance, Guaranteed Pricing Scheme and Purchase Protection Insurance.

Overall Rating

The HSBC Platinum Credit Card is a feature-packed rewards card that waives its annual fee after a $6,000 yearly spend. New cardholders can benefit from an awesome 0% p.a. on balance transfers for 22 months.


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. Terms and Conditions for HSBC Credit Cards

User reviews

HSBC Platinum Credit Card – 0% Balance Transfer Offer ( based on 4 user reviews )

84% rating based on 4 reviews

Customer Service

Rates and fees

Interest rates

Purchase rate 19.99% p.a.

Cash advance rate 21.99% p.a.

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 22 months

Balance transfer revert rate 21.99% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee

Balance transfer limit 95% of approved credit limit

Banks you can't balance transfer from HSBC

Credit limits

Minimum credit limt $6,000

Maximum credit limit $25,000

Fees & repayments

Annual fee $129 p.a.

Additional card holder fee $0 p.a.

Foreign transaction fee 3%

Minimum repayment 3%

Cash advance fee 3%

Late payment fee $30

Rewards and points

Rewards program

Rewards Program Rewards Plus Rewards Plus

Bonus points N/A

Annual points cap 120,000

Bonus points spend criteria N/A

Earning points with this card

Rewards Plus Rewards points 1 point per $1 spent

Points cap per month Capped at 10,000

Overseas earn rate 2 points per $1 spent

Additional features

Complimentary insurance

International Travel Insurance Yes - up to 4 months

Flight Inconvenience Insurance No

Transit Accident Insurance Yes

Smartphone Screen Insurance No

Purchase Protection Insurance Yes

Extended Warranty Insurance Yes

Rental Vehicle Excess In Australia Insurance Yes


Eligible with Apple Pay and Google Pay

$129 annual fee is refunded with min. spend of $6,000 per year

2 Airport lounge passes every year with LoungeKey


HSBC Platinum Credit Card – 0% Balance Transfer Offer

Key features

  • 0% p.a. on balance transfers for 22 months from non HSBC credit cards (reverts to the variable cash advance rate), with No Balance Transfer Fee
  • Annual fee of $129 applies and is refunded each year for customers who spend $6,000 on eligible purchases in 12 months
  • Free additional card holders
  • Eligible with Apple Pay and Google Pay
  • Earn 2 points per dollar on overseas purchases and 1 point per dollar for all other purchases. This is capped at 10,000 per statement period.
  • Two complimentary airport lounge passes every year
  • Complimentary Domestic (inc rental car cover) and International travel insurance for trips up to 4 months
  • Complimentary Purchase Protection, Extended Warranty and Guaranteed Pricing Scheme

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.

55 questions (showing the latest 10 Q&As)



8 July 2020
Can I transfer my flexi loan to a balance transfer credit card
    Roland B Bleyer - Founder


    9 July 2020
    Hi Tariq, you cannot transfer a line of credit to this balance transfer offer. Is this a Westpac Flex loan?


28 June 2020
I on 55k an year and had 6k (st george) + 24k (Nab) + 22.5k(Gem Visa) then applied for Citi balance Transfer offer on 4/12/19 which was declined. Now I have decreased the limits stgeorge(closed) + 20k (Nab) + 13k (Gemvisa). My question is should I further decrease credit limits before applying HSBC card as I don’t want to be declined again. On a side note I have a car loan outstanding 12k and perfect credit history with a score of 804 with experian . Thanks
    Roland B Bleyer - Founder


    29 June 2020
    Hi Harsimran, its always good to reduce your credit limits as much as possible before applying for a new card. The banks are hard on affordability. They will max out any cards you have and see if you can pay off in 3 years. The higher the limits you have. The harder approval is.
Margaret Lee Allen

Margaret Lee Allen

24 June 2020
Can payments on this credit card be paid with cash at Australia Post Offices. I need a Definate answer!!! I am considering transferring a balance from another no interest card. I was caught by advertising as only deposits to accounts could be made - not on credit card...I do not do internet is now hassle for me


14 June 2020
Hi Roland, I have a GoMastercard that was pretty much paid off but then I found myself in a bit of financial trouble while working freelance, as most people do, and unfortunately now have a balance of $4700 on the card. It's growing so much interest that I'm really not getting anywhere with the repayments. I'd like to know more about a balance transfer card and what would be the best one to go with? I'm currently in a full time job on $60,000 a year. Any help and advice would be much appreciated. Thank you, Bridget
    Roland B Bleyer - Founder


    15 June 2020
    Hi Bridget, that Go Mastercard has a a huge purchase rate over 20%. It gets very difficult to pay debt down with such high interest holding you back. It makes sense to go for a balance transfer offer. On which offer is best, this will depend on the amount of time required to pay the debt off. The HSBC Platinum has a nice 0% for 22 months with no balance transfer fee. This ultimately makes it a top balance transfer offer. If you can pay it off sooner. Then something like the St George Vertigo can work. Put a plan in place to pay the debt off during the balance transfer.


13 June 2020
Hi Roland what is the process of doing a $9000 balance transfer from my existing CBA CC. Do i need to produce a statement? Also is there a exist fee if I wish to discontinue the HSBC CC after the $9000 has been paid off?
    Roland B Bleyer - Founder


    15 June 2020
    Hi Duminda, you do not need to provide a statement. At the time of application you put in the amount of debt on your CBA card that you wish to balance transfer. There is no exit fees or requirement to keep the HSBC card open post paying off.


4 June 2020
I am a current HSBC customer with a valid credit card. My question is, can i apply for a new HSBC Platinum credit card- transfer 0 interest fee. ?
    Roland B Bleyer - Founder


    5 June 2020
    Hi Olivera, sure, you can still apply for this offer. Though a balance transfer needs to be between different banks. So you can only transfer non-HSBC credit card debt to this offer.


26 May 2020
Hi, I am considering to purchase the card to use the free credit transfer offer to cover my care lease residual of $19000. Is this possible according to term&conditions and if yes how should one g about it? Thank you, Gregor
    Roland B Bleyer - Founder


    27 May 2020
    Hi Gregor, you can only transfer store or card debt (non-HSBC) with this offer. I am not sure what this care lease residual debt would be classed as but rule out this offer. Maybe you can look for a low rate personal loan to pay it out?


22 May 2020
Hello Roland client has a non HSBC cc $50k limit once transferred ($40k debt) to the HSBC Platinum Credit Card 0% for 22 months the calculator showed 3% payment pm or $1200 pm is that correct? thanks
    Roland B Bleyer - Founder


    25 May 2020
    Hi Daniel, max limit on the HSBC Platinum is $25,000. Therefore this card would not be suitable for that large a transfer. Yes it would be 3% minimum payment of the balance though or $1200. $40,000 would be a really tough transfer right now. Would require excellent credit and other conditions e.g. income v expenses, assets v liabilities. The Citi Rewards credit card could take that level of transfer.
Lauren Sharpe

Lauren Sharpe

21 May 2020
Hi Roland. I already have a HSBC visa credit card with a $15,000 credit limit. Available credit as per the last statement is $11,115.66. I am looking for a credit card with a 0% transfer fee to transfer approximately $24,000 of non HSBC credit card debt. Is there an option to increase the credit limit on this card by an additional $13,000 so I can do this transfer? If this is possible, what do I need to do to make this happen?
    Roland B Bleyer - Founder


    21 May 2020
    Hi Lauren, the balance transfer option is only available on new cards at the time of application. Therefore you will not be able to transfer to your current card. The credit limit for this card is $25,000 also. So it would not be able to handle your type of transfer. There are not a great amount of long 0% balance transfers in market. Especially with no balance transfer fee. Not sure where you are transferring from. Though maybe the Citi Rewards Platinum could work?


18 May 2020
Hi I have 2 credit cards; one is HSBC Platinum credit card that give 1 point every dollar spent , the other one is Qantas American Express Discovery Card that gives 0.75 Qantas point every dollar spent. Which one has higher point value?
    Roland B Bleyer - Founder


    19 May 2020
    Hi Gabby, I think that Qantas points are much more valuable than HSBC Plus points. So 0.75 Qantas points if more valuable than 1 HSBC Plus point.
Virender Dahiya

Virender Dahiya

8 May 2020
First of all, thanks for very detailed & valuable information. Have a question, hope you can help • while balance transfer amount is still owing, purchases will still get interest free period or not. Because some cards in market don’t give interest free period on purchases while you owe BT amount. • after paying of balance transfer amount & purchases, is it easy to close the card if I don’t need it or is there any hidden fee & will the bank refund the remaining annual fee or not?
    Roland B Bleyer - Founder


    11 May 2020
    Hi Virender, best practice is not to spend on a balance transfer card. That is, no make new purchases. You should keep one of the old cards. Pay that off in full each month and use that for new purchases. From HSBC - Depending on when you make your purchases, when your statement is issued, and if you pay off the outstanding balance on your next statement of account on or before the due date. There are no interest free days for cash advances. You will not gain the benefit of the interest free period unless you pay the full balance (excluding any balance transfer, cash transfer and promotional purchases) by the due date.
Lee Allen

Lee Allen

24 April 2020
Can cash repayments be made at Australia Post outlets
    Roland B Bleyer - Founder


    27 April 2020
    Hi Lee, You can make cash, EFTPOS or cheque payments over the counter at Australia Post.


18 April 2020
Hi there, I have 2 credit cards and an RACV car loan. I want to consolidate my debt. RACV car loan accepts cheque or BPAY. Can I do BT of all my debt to HSBC? Regards Abhinav
    Roland B Bleyer - Founder


    20 April 2020
    Hi Abhinav, only Citi issued credit cards can accept loan debt as part of all of the balance transfer. Have a look at the Citi Rewards balance transfer offer. All cards and loans need to be non-Citi to have a chance of being approved. A balance transfer must be between different banks.


18 April 2020
what is the procedure for me to transfer 20k to my westpac credit card with 20k debt for instance?


1 April 2020
hi, can i pay my car loan by this balance transfer credit card. thanks
    Roland B Bleyer - Founder


    2 April 2020
    Hi Baljinder, not with this balance transfer offer. Only Citi issued credit cards will accept personal loan debt as part or all of the transfer. Have a look at this Citi issued Virgin balance transfer offer.

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