HSBC Credit Card – $0 Annual Fee
Pros
- One of the few cards offering a $0 annual fee for life
- The rewards program provides discounts on shopping, travel, and accommodation
Cons
- At the end of the balance transfer period, the interest rate reverts to the cash advance rate
- 2% handling fee with balance transfers
Overall
If you repay your balance in full each month, this card is a great offer to consider, since it has no annual fee.
HSBC Credit Card Review
The HSBC Credit Card is a credit card that offers $0 Annual Fee for the life of the card.
Interest Rates, Fees & Charges
| Balance Transfer Rate |  |
0% p.a. for 6 months |
|---|---|---|
| Interest Rate on Purchases | |
17.99% p.a. |
| Annual Fee | |
$0 |
| Interest Free Period | |
up to 55 days |
| Cash Advance Rate | |
21.99% p.a. |
| Card Type | |
Standard |
| Minimum Income Requirement | |
$20,000 p.a. |
| Credit Card Type | |
Visa |
| Rewards Program | |
No |
HSBC Credit Card Review
Understand why the HSBC Credit Card is a great route to cost-free credit card use. Learn all about the other benefits and features.
With the HSBC Credit Card you won’t have to pay any annual credit card fee with a $0 annual fee for the life of the card.
HSBC Credit Card features:
The HSBC Credit Card is a top quality credit card for all the consumer-friendly features thrown at you. Features include:
- $0 annual fee for the life of the credit card
- 55 interest free days on purchases
- 17.99% p.a. interest rate on purchases
- 21.99% p.a. cash advance rate
- 0% p.a. for 6 months with 2% handling fee on balance transfers: This means you now have a chance to pay off your existing credit card debt at a lower interest rate by transferring your balance over to the new HSBC Credit Card.
- Access to the Home & Away Privilege Program which gives you instant discounts on shopping, travel, accommodation and plenty more!
The HSBC Credit Card is one of the few credit cards that offers a zero annual fee for the life of the card, not just as an introductory offer, allowing you to reduce your annual card costs to zero. This is great news for those people who always avoid paying interest on their credit card bill by clearing it in full each month, because they will now be able to enjoy an effectively cost-free credit card. Being fee-free for life provides peace of mind, especially as credit card annual fees often increase year on year.
Information needed for an HSBC Credit Card application:
The following information will be required in your application for an HSBC Credit Card, which should take no more than 10 to 15 minutes:
- Your personal details, including your driver’s licence number
- Your contact details, including your email address
- Your employment details, including time in current employment
- Your financial details, including income and expenditure
If you leave your application unattended for more than 20 minutes, the site’s security features will time you out and you will lose any information already input. Processing your submitted application may take between 5 and 10 working days.
HSBC Credit Card criteria:
Your application for an HSBC Credit Card depends on your fulfilling the following criteria:
- You have to be 18 years of age or over
- You have to possess a good credit rating
- You have to be a permanent resident of Australia
- You have to be earning at least $20,000 p.a. pre-tax
Read the official terms and conditions
| Minimum Income | $20,000 | Minimum Age | 18 years of age |
| Residency | Permanent Australian Resident | Credit Rating Requirement | Good |
| Min Credit Limit | $1,000 | Max Credit Limit |
| Annual Fee | Balance Transfer Fee | 2% | |
| Minimum Repayment | 3% | Interest Charged From | Purchase Date |
| Late Payment Fee | $30 | Over Limit Fee | $30 |
| Overseas Emergency Replacement | $200 | Overseas ATM Balance check | $0 |
| Overseas ATM Withdrawal | $0 | Foreign Currency Conversion Fee | 3% |
[...] your income and expenditure and employment situation – and crucially by your credit rating. Balance transfer cards are not made available to people with poor credit scores, because credit card providers are wary [...]
Does this card allow for free overseas travel insurance if tickets purchased with the card?
does this card offer free travel insurance if you purchase holiday with card
Hi Allan
Thanks for your comment.
The HSBC Credit Card does not offer complimentary travel insurance when you purchase your holiday with the card. Complimentary travel insurance is a feature you would typically find with many Platinum credit cards.
Thanks again for participating in the CreditCardFinder.com.au community!
Cheers,
Jeremy
What is the life of the card? Also what is the annual fee after that period?
Thanks.
I am looking for a Business Card, what are the requirements?
how do you make a payment . is it all on line
Hi Peter
The HSBC Credit Card comes with internet banking which allows you to make payments to your card. You also have the option of receiving a paper statement each month, with a number of payment options including BPAY.
Cheers
Jeremy
Hi Leticia
Thanks for your comment
The application criteria varies depending on the credit card you are wanting to apply for. Check out our business credit card comparison guide.
Cheers
Jeremy
Do they offer supplementary card for family member?
Hi Min
Thanks for your comments
Yes – you are able to have additional cardholders on your account. However, for each additional cardholder you will need to complete an application form.
Cheers
Jeremy
It says ‘N/A’ for Overseas ATM withdrawal. Does that mean it is $0, or that I cannot withdraw from overseas ATMs?
Could you advise international transaction fees for this card
Hi Chris
From the HSBC fee schedule, it notes:
“Overseas transaction charge – payable when you make a transaction on your account in a currency other than Australian dollars, or you make a transaction on your account in any currency (including AUD) that is processed by the card scheme or billed by the merchant outside of Australia”
This amount for the HSBC Credit Card is 3.0% of the total value amount of each such transaction
Cheers
Jeremy
Hi Megan
Thanks for your comment
The HSBC Credit Card currently offers a $0 annual fee. This special offer is only available while you remain a customer of HSBC. HSBC cardholders who have previously cancelled the same card type as the new card they are applying for may not be entitled to these special promotional offers on the annual fee.
Cheers,
Jeremy
Hi JK
Thanks for your comment
The HSBC Credit Card does not come with any free travel insurance. Platinum Visa credit cards currently offer complimentary travel insurance – we’ve written a credit card travel insurance article if you’d like to review that.
Cheers
Jeremy
What does the following statement “2% handling fee balance transfer offer” mean?
Hi Robert
The terms and conditions state that a 2% balance transfer handling fee will apply to the requested balance transfer.
Essentially, this is a fee charged for the administration process of transferring your balance from your old credit card over to your new credit card. This fee is added to your credit card balance, and charged at the point of doing the balance transfer.
Hope this helps to clarify
Cheers,
Jeremy
Does the “2% handling fee balance transfer offer” mean that, I would be charged 2% of any balance I transfer over, at the commencement of taking up the card. That is, transfer over $10000, get charged an extra $200. I know this sounds like a silly question but just need it clarified.
Hi Daryl
That would be correct. Here is the specific section addressing this in the terms and conditions:
“A 2% balance transfer handling fee will apply to the requested balance transfer. Please allow up to 3 statement periods from the end of this promotion for the balance transfer fee to appear on your statement.”
Cheers
Jeremy
Does HSBC force you to upgrade to their Platinum card or is this a choice?
Hi Jane
Thanks for your comment
As far as we are aware, it is a choice as to which card you apply for. It is however important you confirm this with HSBC customer service before making a decision to apply.
Cheers
Jeremy
Does this $0 annual fee card have a rewards program? There is a green tick but it says “No” next to the tick in reference to rewards program.
Hi Li
Thanks for your comment and feedback
There is no rewards program currently for the HSBC Credit Card.
Cheers
Jeremy
2% handling fee on balance transfers so if I wanted to transfer $5000 would that mean a 2% fee of $100
Hi Ann
That’s correct. A 2% balance transfer handling fee will apply to the requested balance transfer. You need to allow up to 3 statement periods from the end of this promotion for the balance transfer fee to appear on your statement.
Cheers
Jeremy
I applied for an HSBC Credit Card this afternoon($5000 limit)and would like confirmation that the card I have applied for has ‘no annual fee for life’
I currently have a HSBC credit card which I have never activated (it was issued after taking out interest free terms a couple of years ago) I want to do a balance transfer, can i use this card and will the 0% for 6 months apply?
Are transactions covered by fraud insurance?
how is the 2% handling fee calculated? is it a one off fee or monthly?
how long does it take to get this credit card if eligable
I am currently on a Graduate Subclass 485 Visa. It is valid until July 2013. Would I be eligible for this deal?
Hi Glen,
The application process takes about 10 or 15 minutes and once successful expect anywhere from 7 – 14 business days to receive your card. Thanks for the question.
Cheers
Jeremy
Hi Michael,
Thanks for the question. Unfortunately to be eligible for the 0% balance transfer promotion you must be issued with a new card. If you have been previously issued with a card but have not activated it, you must reapply to take advantage of the promotion. Cheers.
Jeremy
Hi,
Yes that is correct there is no annual fee associated with this card. Thanks.
Jeremy
Hi Lisa,
Thanks for your question. As a non-permanent Australian resident to be eligible for a HSBC Credit Card you must earn more than $50,000 a year (before tax) and hold a valid 457 Visa or a Visa that has unlimited working rights, i.e. Spousal Visa, Bridging Visa (excludes Student Visa or a Visitor Visa). Hope this helps.
Cheers
Jeremy