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HSBC Platinum Credit Card – 0% Purchase Offer
HSBC Platinum Credit Card – 0% Purchase Offer

HSBC Credit Cards

HSBC Platinum Credit Card – 0% Purchase Offer

Updated 7 November 2019

Currently offering 0% p.a. on balance transfers for 12 months with no balance transfer fee (reverts to cash rate) and 0% p.a. interest on purchases for the first 12 months. Earn two points per dollar on overseas purchases and one point per dollar for all other purchases. This is capped at 10,000 per statement period. Complimentary domestic (inc rental car cover) and overseas travel insurance, enjoy 2 airport lounge passes every year. The annual fee of $129 is refunded each year for customers who spend $6,000 on eligible purchases in 12 months.

T&Cs apply. Offer ends 31 December 2019

Purchase Rate (p.a)

0% p.a.

for 12 months. Reverts to 19.99% p.a.

Balance Transfer (p.a)

0% for 12 months No BT fee. reverts to 21.99% p.a.

Annual Fee (p.a)

$129

$0 over 12 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. on balance transfers for 12 months from non HSBC credit cards (reverts to the variable cash advance rate), with No Balance Transfer Fee
  • 0% p.a. interest on purchases for the first 12 months
  • Annual fee of $129 applies and is refunded each year for customers who spend $6,000 on eligible purchases in 12 months
  • 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
  • Complimentary Purchase Protection, Extended Warranty and Guaranteed Pricing Scheme
  • Free additional card holders
  • Eligible with Apple Pay

  • 3% Foreign transaction fee
  • Points earn is capped at 10,000 per statement period

Creditcard.com.au review

Editor Review

HSBC Platinum Credit Card – 0% Purchase 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 Card

Does the possibility of prestige and exclusivity make you giddy? Do you get a small thrill when indulging in something other people don’t have? Maybe just a little? Then perhaps a platinum card is for you.

Okay, so we’re not talking black card exclusivity here, but platinum is still pretty awesome. There are plenty of platinum cards out there, each offering a variation on a theme. What will vary is the amount you pay in annual fees, the variety of features on offer, and whether any introductory offers are available.

If you’re looking for a stonking intro offer, a fantastic rewards program, and some pretty indulgent features, then the HSBC Platinum Card could be for you. With this little guy, you benefit not only from a 12 month 0% p.a. balance transfer and purchase offer, you can also enjoy a special annual fee offer and some lovely, lovely platinum perks.

Want to find out more? Let’s delve in.

What we love…

We can’t start in on what we love about this card without first talking intro offers. First up, there is the balance transfer offer. This gives you 0% p.a. on balance transfers for 12 months with no balance transfer fee. Got a big balance? Why not pay it down on platinum?

The card also comes with a introductory purchase offer of 0% p.a. interest on purchases for the first 12 months.

The annual fee offer is slightly more intriguing. Yes, we see balance transfer offers everywhere. They’re very handy, especially when you want to pay down a debt. But this annual fee offer helps you save in a different way. If you spend $6,000 on eligible purchases within 12 months, your annual fee will be waived. Each and every year. That’s a saving of $129 a year.

Now onto the rewards program, as we love this too. The HSBC Platinum Card is not just a platinum card. It also happens to be a rewards card. When using the card, you can earn 1 Reward Point on every $1 you spend on eligible purchases and earn 2 points per dollar on overseas purchases. These points can be redeemed for a huge range of exclusive merchandise, gift cards and experiences. Points earn is capped at 10,000 per statement period.

Alternatively, you could choose to redeem your HSBC Rewards Plus points for Velocity Points. Just so you know, 2 HSBC Rewards Plus points equals 1 Velocity Point. Oh, and another thing we love? You can add additional cardholders for no extra cost. So you can have trusted friends and family earning points for you as they spend. Winner.

The primary card holder also gets 2 airport lounge passes every year.

What’s not so great…

As long as you understand this is a platinum card, there’s not much to complain about. The only thing we’d point out is that the balance transfer reverts to the cash advance rate, not the purchase rate. So it’s a good idea to pay off that transferred balance before interest starts accruing.

Why should you choose this card?

One of the best things about this card is its platinum perks. Travellers benefit from domestic and international travel insurance. Meanwhile, extended warranty, pricing guarantee and purchase protection cover everyday purchases.

Aside from its insurances, it also offers a Platinum Airport service, priority 24-hour customer service and access to HSBC Instant Savings, and the home&Away Privilege Program. Not bad at all.

Overall Rating

With an annual fee rebate on the table. Its a card that can deliver a heap features at a potential $0 annual fee. This card is not for huge spenders though still delivers a solid rewards program. The balance transfer offer is a real key feature and a focal point to sign up for.

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.

User reviews

HSBC Platinum Credit Card – 0% Purchase Offer ( based on 14 Creditcard.com.au user reviews )

89% rating based on 14 reviews

Rates
Fees
Rewards
Customer Service
Value
86%

Henry P

27 March 2015

Free Travel Insurance is great but why have a 3% transaction fee on international purchases. The 28 degree card has 0%

Recommends this card

Rates and fees

Interest rates

Purchase rate 19.99% p.a.

Introductory purchase rate 0% p.a. for 12 months

Cash advance rate 21.99% p.a.

Interest free on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 12 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

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

Extras

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

Overview

HSBC Platinum Credit Card – 0% Purchase Offer

Take advantage of 55 days interest free on purchases (if you pay your balance off in full each month and don’t have a balance transfer active), extended warranty, a pricing guarantee scheme, and purchase protection. Choosing this card, you can enjoy Platinum Airport service, priority 24-hour customer service and access to entertainment packages, offers and invites. You can also enjoy hundreds of instant rewards with the HSBC home&Away Privilege Program.

Key features

  • 0% p.a. on balance transfers for 12 months from non HSBC credit cards (reverts to the variable cash advance rate), with No Balance Transfer Fee
  • 0% p.a. interest on purchases for the first 12 months
  • Annual fee of $129 applies and is refunded each year for customers who spend $6,000 on eligible purchases in 12 months
  • 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
  • Complimentary Purchase Protection, Extended Warranty and Guaranteed Pricing Scheme
  • Free additional card holders
  • Eligible with Apple 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 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.

127 questions (showing the latest 10 Q&As)

George

George

26 October 2019
Hi Roland, I hold couple HSBC credit cards and gonna buy a pro camera. Could you advise me a full list of participating retails who sell them? I would prefer to get your answer on provided e-mail. Thanks in advance!
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    28 October 2019
    Hi George, this 0% purchase offer is on new cards and is specific to this offer. HSBC have a few platinum credit card offers in market. I am not sure if you recently applied and how have this offer. If you do you can get the 0% purchase rate at any retailer. Have a look at some other 0% credit cards that may be of interest - https://www.creditcard.com.au/0-on-purchases/
Lester

Lester

25 August 2019
Hi Roland, I applied the HSBC platinum credit card 3 weeks ago. How long does it usually takes to process the application? I haven’t heard anything from then since and every time when I check the status it only says they are processing the application and will contact me in a few days. But no one at all
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    26 August 2019
    Hi Lester, I would give HSBC credit card customer service a call to check on the application. That sounds like a long time if you have providing everything required. Maybe some small glitch but worth checking. I would think 5-10 working days is a good amount of time for a bank to evaluate your application. Though they do get bottom necks in apps at some times. This can cause delays in processing and still happens from time to time.
David

David

19 August 2019
Does the HSBC Platinum rewards card offer fraud protection? If not, how is the card protecting the cardholder from fraudulent transactions?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    20 August 2019
    Hi David, all credit cards have some types of fraud protection in play. Banks try to market them as having greater levels of security. HSBC is a big bank and has very detailed security measures to protect itself and its card holders.
Bryan

Bryan

14 June 2019
In the fine print it says interest free purchases are not included as the 'eligible purchases' that would get the annual fee waved. However in the first 12 months of getting the card, all purchases are interest free. Does this mean that it is not possible to get the annual fee waved in the first year?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    17 June 2019
    Hi Bryan, I would assume that they purchases would actually go towards the annual fee waiver. Though based purely on the terms I have just reviewed. They clearly state that any interest free purchases will not count. Though I think this is just a hang over from previous terms. It would not make sense for HSBC to still keep the fee waiver offer. Then have it null and void by this 0% on purchases. I would say you could argue for the annual fee waiver either way.
Nizar

Nizar

14 June 2019
Hi Roland, Do you know if this credit card can be used to pay taxes to the ATO and will those charges count as "purchases" as per the T&Cs to qualify for the promotional 12 month interest free period ? Thanks
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    17 June 2019
    Hi Nizar, I would consider the payment of the ATO as a purchase. You will get hit with a credit card fee from the ATO. I would not pay via bpay as this may be considered a cash advance.
andrew

andrew

9 April 2019
my credit is maxed to 17300 my limit is 17500 plus $1000 and $2000 credit cards both to max oweing and a $10400 credit card on a balance transfer limit $13000 what must Ido to balance trnsfer to meet requirements
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    9 April 2019
    Hi Andrew, negative credit reporting is in play when you reach 85% of your credit limit. You need to put a plan in place to pay down your current debt below 85%. Then you can look to apply for a balance transfer offer. Balance transfers are hard to get because you are not forced to close your old cards. Therefore the banks test your ability to pay back based on all your old limits plus the new one they are considering. Sorry I could not provide better news at this time. Read through our credit card application tips.
TA

TA

1 April 2019
Hi Roland, If I was an owner of a HSBC card a few years ago now, closed that account but am now considering whether I open a new account again with HSBC. Would I be eligible for the offer?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    2 April 2019
    Hi TA, yes you would be eligible for the offer. You can transfer non-HSBC credit card or store card debt to the balance transfer component. Read our credit card application tips to have a better chance of getting approved.

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