- No annual fee
- Earn 1 HSBC Rewards Point for every dollar spent on eligible domestic purchases
- Earn 1.5 HSBC Rewards Points on eligible international purchases
- Domestic and International Travel Insurances
Allowing cardholders to earn points on either the HSBC Rewards Plus program or the Qantas Frequent Flyer program, the HSBC Premier Credit Card is a flexible rewards card with some appealing extras on offer. Features include access to the home&Away Privilege Program, HSBC Instant Savings, lounge access via LoungeKey, and travel discounts with Expedia and Agoda.
When you apply for the HSBC Premier Credit Card, you have the option to earn points on the HSBC Rewards Plus program or the Qantas Frequent Flyer program. Opting for HSBC Rewards Plus means you will pay no annual fee on the card, and you will earn:
Points are capped at 10,000 per statement period. As part of this program, you will have a number of redemption options open to you, including shopping, travel and merchandise rewards. You may also choose to transfer your points to leading airline rewards programs, including Cathay Pacific’s AsiaMiles, Virgin Australia's Velocity and Singapore Airlines’ KrisFlyer.
If you opt to earn on rewards on the Qantas program, you will pay an annual fee on the card, making it more difficult to get value back. However, if Qantas Points is what you want, this card offers an earn rate of 1 Qantas Point per $1 on eligible purchases, capped at 10,000 points per statement period.
Aside from the opportunity to earn rewards, cardholders can also access a range of features. There are quite a few of them, so let’s create a list.
To be eligible for the HSBC Premier Credit Card, you must meet the bank’s eligibility requirements. This includes having:
You’ll also need to maintain an HSBC Premier Cash Management Account, for which a monthly service fee of $35 applies. Also take note of the card’s relatively high interest rate. Cardholders who carry a balance may find it hard to enjoy real value on this card.
If you want to earn rewards on your card spending, the HSBC Premier Credit Card provides a pretty flexible option. Choosing to earn points on the HSBC Rewards Plus program does provide better value, as cardholders pay no annual fee on the card, and are essentially earning rewards for free (although there is that monthly service fee to pay on the required partner Cash Management Account).
Cardholders can enjoy a wide range of extras on this card, making it a great choice for anyone who would make good use of these features. You can also add one additional cardholder to the account at no extra cost, which could help you to earn points faster, although the monthly cap on points still applies.
The HSBC Premier Credit Card earns HSBC Rewards Points or Qantas Points, while providing some very handy extras, such as Instant Savings, LoungeKey access and insurance covers.
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.
Purchase rate 19.99% p.a.
Cash advance rate 21.99% p.a.
Interest free period on purchases up to 55 days
Minimum credit limit $10,000
Maximum credit limit N/A
Annual fee $0 p.a.
Additional cardholder fee Up to 99 - $0 p.a.
Foreign transaction fee 2%
Minimum repayment 3% or $20 (whichever is greater)
Cash advance fee 3% or $4 (whichever is greater)
Late payment fee $30
Rewards Program HSBC Rewards Plus
Bonus points N/A
Annual points cap 120,000
Bonus points spend criteria N/A
Rewards Plus Rewards points 1 point per $1 spent
Points cap per month Capped at $10,000 per statement
Overseas earn rate same as standard earn rate
International Travel Insurance Yes
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
Mastercard Airport Experiences provided by LoungeKey
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 $75,000 p.a.
You have your personal details ready to complete the online application
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.
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