Ask us a Question

Hi, we spend most of our time trying to help people and we will answer your question within a business day.

By submitting this question you agree to our privacy policy.

N/A
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 6 October 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 7 Creditcard.com.au user reviews )

74% rating based on 7 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.

82 questions (showing the latest 10 Q&As)

Leah Barron

Leah Barron

25 October 2021
Hi, I currently have a balance which I wish to transfer from Westpac, I'm currently living abroad and being paid in the UK. Am I still eligible for the card? Many thanks, Leah
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    26 October 2021
    Hi Leah, very interesting question thanks! So for this HSBC credit card they require you to be an Australian citizen and resident. You’ll need to be living in Australia to be eligible for this card. If you want to discuss the intricacies of this further, then you can give HSBC a call on +61 2 9005 8511. Let us know how you go!
conan

conan

5 October 2021
what is rewards plus points ?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    6 October 2021
    Hi Conan, HSBC’s rewards program is called Rewards Plus. When you use the card for eligible purchases, you earn Rewards Plus points. Rewards Plus points can be redeemed for cashback on your statement, gift cards and travel vouchers.

Featured Credit Cards

HSBC Platinum Credit Card – 0% Balance Transfer Offer

7 reviews
$0 saved over 36 months

St.George Vertigo Credit Card

19 reviews
$0 saved over 32 months

Citi Rewards Card – Purchases and Balance Transfer Offer

6 reviews
$0 saved over 14 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.