HSBC Credit Card: $0 Annual Fee – Details & Application

Information verified correct on June 29th, 2016

With the HSBC Credit Card, you can enjoy zero annual fees and 0% p.a. on balance transfers for a period of 6 months.

The HSBC Credit Card gives you access to a wide array of features. Cardholders get to enjoy 0% p.a. on balance transfers for the first 6 months and there are no annual fees for life. Plus shop at more than 1,000 participating retailers and pay 0% p.a. interest from 3 to 60 months on larger purchases. You can also access special privileges and instant discounts at more than 19,000 retailers with the home&Away Privilege Program.

Product NameHSBC Credit Card
Balance transfer rate (p.a.)0% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.99% p.a.)
Purchase rate (p.a.)17.99% p.a.
Offer end date30 June 2016
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you dont have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.99% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Minimum Monthly Repayment3% or $30 whichever is higher
Minimum Income$20,000
Card TypeVisa
Late Payment Fee$30
Foreign Currency Conversion Fee (VISA)3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsYes
Joint ApplicationNo
Minimum Income$20,000
Minimum Age18 years of age
Available to Temporary ResidentsYes
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Annual Fee$0 p.a.
Minimum Repayment3% or $30 whichever is higher
Late Payment Fee$30
Over Limit Fee$30
Cash Advance FeeThe higher of $4 or 3.0% of the total transaction amount
Overseas Emergency Replacement$200
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$4.50
Foreign Currency Conversion Fee (VISA)3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Pros
  • This card has a $0 annual fee for life.
  • You can enjoy a 0% p.a. for 6 months for balance transfer.
  • Receive up to 55 interest-free days.
Cons
  • A fee of $30 for late payment will be imposed
  • Balance transfer rate reverts back to a high cash advance rate at 21.99% p.a.
  • There is no rewards program with this card.

HSBC Credit Card $0 Annual Fee Review

This credit card can be used to facilitate purchases, payments and other transactions as well. Access exclusive shopping offers, both in Australia and overseas. With the home&Away Privilege Program, you can access special offers in over 19,000 retail outlets worldwide.

Some of the card’s exclusive benefits include $0 annual fees, $0 additional cardholder fees and interest-free purchases. Plus, you can repay your debt faster and cheaper with a balance transfer offer of 0% p.a. for a period of 6 months.

Benefits of HSBC Credit Card – $0 Annual Fee

  • Free additional cards. You can acquire multiple additional cards for your family members or even friends at no additional cost.
  • 55-days interest-free purchases. New cardholders have 55-days of interest-free purchases. Just pay off your balance in full each statement period to enjoy this feature, including any promotion rate balances (ie. balance transfers).
  • home&Away Privilege Program. While there is no rewards program, you can enjoy good benefits with the home&Away Privileges Program.

Features of the HSBC Credit Card

  • Interest-free purchases. Cardholders enjoy interest-free purchases up to 55 days. You get to save a lot with this feature since normal interest rates for cash advances with the card is 17.99% p.a. This feature is however only applicable in selected stores, but this includes over 1,000 participating outlets in Australia. Minimum purchases apply. All other purchases enjoy up to 55-days interest-free when you have no balance in full at the end of your statement period.
  • Zero annual fees. For the entire life of the HSBC Credit Card, you will not be required to pay an annual fee. Additional cards for friends or family also enjoy zero fees.
  • Balance transfer offer. New card holders will enjoy an introductory balance transfer rate of 0% p.a. for a period of 6 months. This will revert to the normal cash advance rate which is 21.99% p.a. and this rate is subject to change.
  • Special privileges. The home&Away Privilege Program is accessible to all card holders and it comes with benefits such as exclusive offers in over 19,000 international retail outlets. Locally, exclusive shopping offers can be enjoyed in more than 1,500 Australian retailers. Note that special privileges can only be accessed in participating retailers so make sure that you check out the list of retailers near you.
  • Visa payWave system. This card comes with Visa payWave technology, so you can make contactless payments at participating merchants when you shop for less than $100.
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How to apply for the HSBC Credit Card

If you’d like to apply for the HSBC Credit Card, you can start the online application process. The following eligibility requirements apply.

Eligibility criteria:

  • The minimum income requirement is $20,000 p.a.
  • You must be at least 18 years old and an Australian resident or citizen.
  • This credit card is not eligible to just any applicant; you need to have a good credit card rating.
  • The lowest credit card limit you can get with this credit is $1,000.

Required documents:

  • You’ll need to provide proof of ID such as your Driver’s license number or passport.
  • You may be asked to provide proof of income such as pay slips and bank statements.
  • The application may also require that you provide information regarding any assets or existing debts.

The HSBC Credit Card has competitive features, including the main benefit of having no annual fee for life. Before you can take up the card, compare other similar cards offered by HSBC.

Are you interested in earning Qantas frequent flyer points with the HSBC Qantas Platinum Credit Card instead? Find out more about HSBC Qantas Platinum Credit Card.

The Terms and Conditions of the card and what they mean

ConditionWhat it means
0% p.a. Balance Transfer for 6 months from non-HSBC credit cards on application (reverting to the variable cash advance rate, currently 21.99% p.a.).You may transfer up to 3 balances from non-HSBC store cards, charge cards or credit cards upon application. If you have not paid off your balance within the promotional balance transfer period (0% p.a. for 6 months), the remaining balance left will be paid off at 21.99% p.a.
~HSBC may allocate payments we receive from you to pay the total amount owing in any order we see fit including applying any and all payments made to your HSBC Credit Card account to reduce the balance(s) transferred first and then to any subsequent purchases.These are typical conditions of credit cards with interest-free periods.
^ Depending on when you make your purchase, when your statement is issued and whether or not you are carrying forward a balance on your account from the previous statement period. There are no interest-free days for cash advances or balance transfers.Check your date of signup to know when you need to repay. Keep this in your diary as a point of reminder. Cash advances don’t have interest-free days, so potentially consider an alternative option for cash advances.
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487 Responses to HSBC Credit Card: $0 Annual Fee – Details & Application

  1. Default Gravatar
    Cassy | April 4, 2016

    HSBC has upgraded me to a Platinum card which I do not wish to have. How do I reverse back to the basic card?

    • Staff
      Sally | April 5, 2016

      Hi Cassy,

      Thanks for your question.

      You will need to contact HSBC on 132 152 to report the issue and to ask for your card to be reverted.

      I hope this has helped.

      Cheers,

      Sally

  2. Default Gravatar
    Samron | January 16, 2016

    Hi, i have account with Common Wealth bank. I have paid credit default. Can I apply for credit card or not. Common Wealth Bank declined for my credit card.

    • Staff
      Sharon | January 20, 2016

      Hi Samron,

      Thanks for your question.

      You can apply for a credit card but just make sure that you meet the application requirements for that particular product. You may like to refer to the following link for a guide on how to get your credit card application approved.

      However, before you apply for another credit card, you may wish to speak with some credit card issuers directly to discuss your options and chances for acceptance, as each submitted application will appear on your credit history.

      I hope this helps.

      Sharon

  3. Default Gravatar
    phil | November 20, 2015

    How does HSBCdefine cash advance

    • Staff
      Jonathan | November 20, 2015

      Hi Phil, thanks for your inquiry!

      HSBC summarises cash advances as the following definitions:

      (a) each amount of cash supplied by use of a card
      on your account or by any other operation of
      your account;
      (b) each payment made by a user to a person who
      does not accept or is not entitled to accept
      credit payments from your account or states
      that any payment to them will be processed as
      a cash advance or if you are using your card
      for gambling purposes or to purchase a cash
      substitute, and
      (c) each amount transferred from your account
      to any other account you have with us or any
      other person (for instance, to effect a balance
      transfer).

      Cheers,

      Jonathan

  4. Default Gravatar
    Phil | September 17, 2015

    I have an existing HSBC Credit card for which I pay a $59 Annual Charge but a new customer receives their credit card fee free should I cancel my credit card and reapply to save the charge.

    • Staff
      Sally | September 18, 2015

      Hi Phil,

      Thanks for you inquiry.

      Unfortunately, the $0 annual fee promotion is only available for new credit card applicants. You can cancel your credit card at any time you choose to, but you will need to wait 6-12 months prior to applying for another credit card account with HSBC.

      I hope this has helped.

      Thanks,

      Sally

  5. Default Gravatar
    t | September 7, 2015

    What is the maximum i can transfer over to a HSBC from another credit card?

    • Staff
      Jonathan | September 7, 2015

      Hi t, thanks for your inquiry!

      HSBC allows the full approved credit limit for balance transfers. Your approved credit limit will depend on HSBC’s lending requirements and their assessment of your application.

      Cheers,

      Jonathan

  6. Default Gravatar
    Carla | June 22, 2015

    I currently have an Ignite by Westpac credit card with $1,000 limit. Are you able to suggest a credit card that has a minimum $1,000 credit limit that will also give me Qantas Frequent Flyer Points?

    Thanks,
    Carla

  7. Default Gravatar
    Allan | June 20, 2015

    I have never had a credit card before. How do I get a good credit card rating?

    • Staff
      Jonathan | June 22, 2015

      Hi Allan, thanks for your inquiry!

      Please refer to the following link for more information on getting a good credit card rating.

      Cheers,

      Jonathan

  8. Default Gravatar
    Colin | June 11, 2015

    Good Afternoon
    Could you give me some idea of statement date if an application for a card is made 12/6/15. I’m departing australia 1/7/15 and don’t return until 8/8/15 and wish to pay the account within 55 days.
    Thank you
    Col Higgins.

    • Staff
      Isaiah | June 12, 2015

      Hi Colin,

      Thanks for your question, HSBC will allocate a statement date upon the approval of an application. From once a card is received after this point you can get in touch with HSBC directly if you would like to know your allocated statement date (unfortunately there isn’t a way to forecast this date). It might be worth to note here that you can call HSBC to alter your statement date if you wish.

      I hope this helps.

      Isaiah

  9. Default Gravatar
    jas | June 10, 2015

    Hi. I just want to know on 0% balance transfer for 6 months credit card option can I pay early full payments if I have money or I have to wait for 6 months?

    • Staff
      sally.mcmullen@hiveempire.com | June 11, 2015

      Hi Jas,

      Thank you for your question.

      Yes, you can pay your balance transfer payments in full during the first six months. The six months 0% p.a. just means you won’t be charged interest on your balance transfer during this introductory period. The balance transfer interest rate will revert to 21.99% at the end of the six months.

      I hope this has answered your question.

      Thanks,

      Sally

  10. Default Gravatar
    Colin | June 10, 2015

    Good Afternoon, could you tell me what is the life of the credit card?

    Thank You
    Colin

    • Staff
      Jonathan | June 11, 2015

      Hi Colin, thanks for your inquiry!

      A credit card remains active until either the primary cardholder or bank cancel the service.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated June 29th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
14.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Interest Visa Card offers 0% p.a. purchase and balance transfer offers for 15 months. Also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 40,000 bonus Qantas Points on eligible spend within 3 months. A balance transfer offer of 0% p.a. for 6 months with access to premium benefits and complimentary insurance.
19.99% p.a. 0% p.a. for 6 months $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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