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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 2 September 2021

Transfer non-HSBC store or credit card debt. 0% p.a. on balance transfers for 36 months with no balance transfer fee. Pay a reduced annual fee of $29 in the first year, $129 p.a. thereafter. More insurance than you can poke a stick at. Domestic and International Travel Insurance, Purchase Protection, Extended Warranty and Guaranteed Pricing Scheme.

HSBC may change or end this offer at any time. Please see full terms and conditions.

Purchase Rate (p.a)

19.99%

Balance Transfer (p.a)

0% for 36 months No balance transfer fee.
Reverts to 21.99% p.a.

Annual Fee (p.a)

$29 first year. Then $129 p.a.

$0 over 36 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. on balance transfers for 36 months from non HSBC credit cards (reverts to the variable cash advance rate) with no balance transfer fee
  • Reduced annual fee of $29 in the first year, $129 p.a. thereafter
  • Earn 2 Rewards Plus points per $1 on overseas eligible purchases and 1 Rewards Plus point per $1 for all other eligible 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

Creditcard.com.au 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 Creditcard.com.au. about this card.

The HSBC Platinum Credit Card: 0% p.a. Balance Transfer Offer for 36 Months

Offering 0% p.a. on balance transfers for an incredible 36 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 offers a reduced annual fee the first year, 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, making this very competitive within the market. 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 36 months. You will also not pay a balance transfer fee on your transferred amount.

With a 36 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 36 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 first year discounted annual fee of $29. This reduces the card’s usual annual fee the first year only. An ongoing $129 p.a. applies. 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 eligible purchases and 1 Rewards Plus point per $1 for all other eligible 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 visapremium.com.au 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 reduces its annual fee in the first year. New cardholders can benefit from an awesome 0% p.a. on balance transfers for 36 months with no balance transfer fee.

Disclaimer

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 6 Creditcard.com.au user reviews )

71% rating based on 6 reviews

Rates
Fees
Rewards
Customer Service
Value

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 36 months

Balance transfer revert rate 21.99% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee

Balance transfer limit 90% of approved credit limit

Banks you can't balance transfer from HSBC

Credit limits

Minimum credit limit $6,000

Maximum credit limit N/A

Fees & repayments

Annual fee $129 p.a.

Additional cardholder fee $0 p.a.

Foreign transaction fee 3%

Minimum repayment 3% or $20 (whichever is greater)

Annual fee the first year $29

Cash advance fee 3% or $4 (whichever is greater)

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 Yes

Transit Accident Insurance Yes

Smartphone Screen Insurance No

Purchase Protection Insurance Yes

Extended Warranty Insurance Yes

Rental Vehicle Excess In Australia Insurance Yes

Extras

Eligible with Apple Pay and Google Pay

2 Airport lounge passes every year with LoungeKey

Overview

HSBC Platinum Credit Card – 0% Balance Transfer Offer

Key features

  • 0% p.a. on balance transfers for 36 months from non HSBC credit cards (reverts to the variable cash advance rate), no balance transfer fee applies
  • Reduced annual fee of $29 in the first year. $129 p.a. thereafter
  • Free additional card holders
  • Eligible with Apple Pay and Google Pay
  • Earn 2 Rewards Plus points per $1 on overseas eligible purchases and 1 Rewards Plus point per $1 for all other eligible 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 Creditcard.com.au 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.

80 questions (showing the latest 10 Q&As)

Tracey

Tracey

3 September 2021
Hi Roland Im about to go into small business earning up to $100,000. I would like to get a credit card for the business. I am looking for card the will be paid off at the end if the month and provide me with the opportunity to earn FF points (preferably with Qantas but I also have Velocity points, so happy to consider) I will will be making some purchase items like a Mac laptop, insurance (which favours Qantas FF). I currently have a Platinum Awards credit card for personal expenditure with the Commonwealth Bank with just under $4,000 owning on it (Limit is $8500). Ideally I would my private card would be for emergencies for vet bills, and paying my utilities which I would clear by the end of the month. Any advice would be great. Thank you Tracey
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    6 September 2021
    Hi Tracey, thanks for writing and how exciting to go on this new journey. We can only give general advice so it’s important that you do your due diligence too. Business credit cards can require you to have been trading for a set amount of time to prove your cash flow, so make sure you check the requirements of each card closely. There’s a range of business credit cards available for comparison and you can click “save card” to add them to a comparison shortlist. From there you can read our detailed review and make a choice based on your needs. Best of luck with your business and credit card hunt!
Daniel Neil Liam Tan

Daniel Neil Liam Tan

3 September 2021
What is the interest free period
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    6 September 2021
    Hi Daniel Neil, the interest free period is the number of days where you will not incur any interests on purchases. For this HSBC card you’ll get up to 55 days interest free. Please note that you will need to pay the monthly payment balance indicated on your statement account to enjoy the interest free period.
Gary Carr

Gary Carr

21 August 2021
I am not happy with service from Coles Card and would like to transfer to an HSBC Credit card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    24 August 2021
    Hi Gary, thanks for the information and sorry to hear that. As long as you’ve met HSBC credit card’s eligibility criteria, you can apply. When you’re ready, you can click on the Go To Offer button at the top. Or, for your convenience, you can use this link instead. The 36 months to pay off your balance is one of the longest in the market right now!
Shay

Shay

7 August 2021
The facial recognition software consistently misread my driver's license. I redid it 3 times and then got out of it to try my passport instead, but now the application says "Your ID verification session has been cancelled" and I cannot restart the digital verification process. It's not convenient to go into a branch. Please help.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    10 August 2021
    Hi Shay, thanks for writing and we’re sorry to hear about the trouble you’re having. I suggest reaching out to the bank directly via 1300 131 605.
Camille

Camille

19 July 2021
Hi, We're relatively new to the country (2 years). My husband is a citizen and I'm a permanent resident, we have been renting so I (think) we have no credit rating. We'd love to get a credit card for both points and because I was always told it helps build credit. Are there any we are eligible for? Thank you!
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    20 July 2021
    Hi Camille, thank you for your question! Whilst we cannot recommend one card over another, there are a lot of cards to choose from that have different offers. However, I suggest checking this article we’ve written for tips and information about Your Credit Score And How To Build It, or even get a copy of your credit file from online as well as the list of credit cards that could help you build your credit. Hope this helps!
SUDHA PUTHRASIGAMANI

SUDHA PUTHRASIGAMANI

26 June 2021
Need balance transfer help
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 June 2021
    Hi Sudha, thanks for writing in. I suggest reaching out to HSBC directly at 1300 308 880 to get assistance with your balance transfer.
Anjasa Sowden

Anjasa Sowden

24 June 2021
Im looking for a Bitcoin arm card to buy no strings attached
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    25 June 2021
    Hi Anjasa, thanks for your comment. It's tricky buying bitcoin and crypto with a credit card. We wrote a post on crypto credit cards to break down the processes involved. Best of luck and let us know how you go!
Don Chummar

Don Chummar

9 June 2021
Can we pay off personal loan with this card ?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    10 June 2021
    Hi Don, thanks for your question and unfortunately you can’t balance transfer a loan to any HSBC card. The good news is that there are several financial institutions that allow you to balance transfer a personal loan. Citi, Qantas Money, Virgin Money and Coles will, if approved. You will need to ensure that the total amount that you’re transferring doesn’t exceed 80% of the approved credit limit.
Belinda Margaret Blackmore

Belinda Margaret Blackmore

26 May 2021
where is the best credit provider where I can get a credit card up to 70,000
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    27 May 2021
    Hi Belinda, thanks for your question! Credit card providers will set a credit limit based on several eligibility factors set out by the card providers, such as credit score, payment history, etc. I suggest checking on the different credit cards from different providers we have listed in our comparison tools.
Kristy

Kristy

24 May 2021
Hi, my question is, am I able to balance transfer two credit cards?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    26 May 2021
    Hi Kristy, thanks for your question! As long as the total balance you will transfer does not exceed 90% of your approved credit limit, you may. Make sure you make the transfer request when applying for the card and note that any balances transferred must be from non-HSBC credit cards. Hope this helps!
Sarah

Sarah

20 May 2021
Can I get interest free on purchase for 3 years if I buy for example laptop on this card on the fist years and pay it off slowly
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    21 May 2021
    Hi Sarah, thanks for your question! Looking at the features of this card, currently, there’s no 0% purchase offer. You’ll pay interest on your purchases after 55 days if you don’t pay back the outstanding amount. If you’re looking for a 0% purchase offer, you can check the list of 0% on Credit Card Purchase Offers we have created for your options.
zayne

zayne

16 May 2021
Hi, If I am owing in total $75,000 spread over 3 credit cards, which credit card transfer option do you recommend considering I am nearing maxing out all of them?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    18 May 2021
    Hi Zayne, thanks for your question. We can’t recommend one card or another, but we suggest you visit our balance transfer guide and use the calculators and sliders to put in the details of your debt. Then you can see the dollar amount estimate you’ll save with a balance transfer.
Brad

Brad

11 May 2021
Eligibility to apply for offer? Process of applying? Likely $ amount eligible?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    11 May 2021
    Hi Brad, thanks for your question. You can click the "Go to Offer" button on the page to head to HSBC's web site. You'll need to have good credit profile, be over 18 years old, have a minimum income of $40,000 p.a. and be a resident or citizen of Australia along with the other requirements listed here. If you are approved, your available credit will be at HSBC's discretion. Hope this has helped!
Anita Baker

Anita Baker

2 May 2021
How long do I have to stay with After the initial 36 months have expired
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    4 May 2021
    Hi Anita, once the 36 months balance transfer is completed, if you still hold a balance you can continue to keep paying down your debt (at the revert rate of interest). Or if you've paid off your balance you can close the card or keep it open.
Renee

Renee

19 April 2021
Hi, do you allow joint applications for HSBC Platinum credit cards? My partner and I currently have a joint credit card with St George. We are looking to do a balance transfer to a new card.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    20 April 2021
    Hi Renee, HSBC does not allow joint applications. If you want to open an HSBC card with a balance transfer, the card will only be issued in one of your names. You can however add an additional cardholder to the account for no extra cost. I hope that helps.
Bill

Bill

18 April 2021
Hi HSBC, As an example Mr X did 20,000 dollars credit card balance transfer to HSBC. At the end of 36 months interest free period Mr X paid 10,000 dollars. Then my question is how do you charge him interest and other fees after the end of the interest free period? Regards, Bill
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    19 April 2021
    Hi Bill, if Mr X paid paid off $10,000 of the $20,000 debt he would be charged interest on the remaining $10,000 at a rate of 21.99% p.a. For the first year, he will pay a $29 annual fee and then an annual fee of $129 each year after that.
ella

ella

16 November 2020
i wan to get my first credit card and my own bank account
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    16 November 2020
    Hi Ella, sure, are you between 18-25 years old? If yes, then take a look at the Bendigo Bank Low Rate First Card. Though if you are looking for rewards (or not meeting the age bracket above). Then I can suggest another offer. I would need to understand how much you plan to spend a month on the card plus your annual income.
Tyler

Tyler

1 September 2020
Hi, I was looking at your balance transfer credit card offer and wondered if this could be used to transfer the balance of a personal loan or if it is just for transferring the balance of credit cards?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    1 September 2020
    Hi Tyler, with HSBC, you can only balance transfer credit or store cards. Have a look at the Citi Rewards Balance Transfer Offer. Citi are the only issuer in Australia that will accept non-Citi personal loan debt as part or all of the transfer.
Shaike

Shaike

31 August 2020
I have a credit card with HSBC ($9500). May I transfer 95% of this limit to another Non HSBC Credit card, please?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    1 September 2020
    Hi Shaike, you can transfer 100% of the HSBC card, subject to credit approval. When you see a card and it says up to 95% of your credit limit for a balance transfer. This relates to your new credit limit. If you get a $10,000 limit. Then you can transfer $9,500. It all depends on your new cards credit limit to what you can transfer. Have a look at non-HSBC balance transfer offers.
Shaike

Shaike

29 August 2020
I have existing HSBC credit card (limit $9500). May I transfer 95% of this limit to non HSBC credit card? Is it possible to transfer to non HSBC saving A/C instead of Non HSBC credit card as well?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    31 August 2020
    Hi Shaike, no it is not possible to do a HSBC balance transfer to a bank account. Citi are the only issuer that can deliver a cheque to self in the balance transfer process. Though you need to be transfers current personal loan debt for this option.

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