HSBC Platinum Credit Card – Reviews and Application

Information verified correct on October 28th, 2016
HSBC Platinum Credit Card Find out more Go to site

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  • Clicking Go to site will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>

Receive platinum cardholder benefits with 1 HSBC Rewards Point per $1 spent, 0% p.a. on balance transfers for 15 months and an annual fee refund each year.

The HSBC Platinum Credit Card allows you to enjoy access to prestige services including a personal concierge service and the VISA Platinum rewards program. Also earn HSBC Rewards Points per $1 spent and use your points to redeem cash back rewards, travel and accommodation. Whether you’re looking to repay your debt faster or cut down on annual credit card costs, this card could be right for you.

Things you need to know about the HSBC Platinum Credit Card Offer

Product NameHSBC Platinum Credit Card
Rewards ProgramHSBC Rewards Plus
Balance transfer rate (p.a.)0% p.a. for 15 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.99% p.a.)
Balance Transfer Limit100% of available credit limit
Purchase rate (p.a.)19.99% p.a.
Offer end date31 December 2016
Annual fee$149 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not 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.
Minimum Monthly Repayment3% or $20 whichever is higher
Minimum Income$40,000
Card TypeVisa
Late Payment Fee$30
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover4 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$40,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
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.
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.
Annual Fee$149 p.a.
Minimum Repayment3% or $20 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)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes


  • You can take the advantage of balance transfer offer of 0% p.a. for 15 months.
  • You can get up to 55 interest-free days with this card.
  • It comes with a complimentary travel insurance.
  • The annual fee is also refunded if you apply by 31 December 2016 and spend $6,000 on eligible purchases each year.


  • Your yearly income needs to be $40,000 to be eligible to apply for this card.
Rewards ProgramHSBC Rewards Plus
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapUncapped
Rewards Points per $ (AMEX) CapN/A
Points Expiry36 months

HSBC Platinum Credit Card review

The HSBC Platinum Credit Card has a minimum income requirement of $40,000 and a minimum credit limit of $6,000 — it’s not for everyone. However, if you are eligible for this account, the HSBC Platinum Credit Card has a couple of features worth comparing.

The account offers complimentary insurances to protect you and the items you buy on your card. Get 0% p.a. for 15 months on balance transfers, earn HSBC Rewards Points when you spend, and apply before 31 December 2016 and have the annual fee refunded each year if at least $6,000 is spent on eligible purchases.

Benefits of using a HSBC Platinum Credit Card

  • 0% p.a. for 15 months on balance transfers

  • Transfer non-HSBC credit card debt. Apply for the HSBC Platinum Credit Card before 31 December 2016 to get 0% p.a. for 15 months on non-HSBC credit card, store card or charge card debt you elect to transfer to this account. To be eligible for the offer, you need to elect to transfer the balance when you apply for the product.
  • Balance transfer limits. Most lenders will allow you to use up to a percentage — 80% for instance — for a balance transfer. You can transfer up to 100% of the available credit limit. For example, if you’re approved for a HSBC Platinum Credit Card with a $10,000 limit, you can transfer up to $10,000 from a number of other non-HSBC store cards, charge cards or credit cards.In balance transfer section of the online application, there is space to enter the details of up to three accounts. If you have more accounts you would like to consolidate to the HSBC Platinum Credit Card, you can transfer the balance of these accounts by contacting HSBC directly.
  • Revert rate. At the end of the balance transfer promotional period, any unpaid balance left over from a balance transfer promotional will be charged at the ongoing interest rate for cash advance, currently 21.99% p.a.
  • No interest-free days. Take note of up to 55 days interest-free if you’re carrying a balance from month to month. Interest-free days do not apply if your account has a promotional balance transfer balance being carried over from month to month.
  • Annual fee refund

  • For a limited time. Apply for the HSBC Platinum Credit Card between 1 January 2016 and 31 December 2016, meet the yearly spend of $6,000 on eligible purchases and receive an annual fee refund each year.
  • Earn HSBC Rewards Points on eligible purchases

  • 1 HSBC Rewards Point per dollar spent. Make an eligible purchase with the HSBC Platinum Credit Card and you will earn 1 HSBC Rewards Point per dollar spent.
  • Points expire. Your HSBC Rewards Points are valid for a period of 36 months after they’re first issued. You will be reminded if you have any points which are set to expire when you get your account statement.
  • No points cap. There is no cap on the number of HSBC Rewards Points you can earn in a 12 month period with the HSBC Platinum Credit Card.
  • What is considered an eligible purchase? Earning points for eligible purchases only is a common condition among rewards and frequent flyer products. An eligible purchase includes 99% of your everyday spending — things like fuel purchases and grocery purchases are common everyday expenses. You will not earn HSBC Rewards Points on the following transactions: Interest-free promotions, interest-free merchant purchases, balance transfers and cash advances.
  • How can I redeem my HSBC Rewards Points? Use your points for cash back on your Platinum Credit Card account. 30,000 HSBC Rewards Points can be converted to $100 cash to pay off the balance of your card.You can use your points to pay for travel and accommodation through the HSBC Travel Rewards. Alternatively, you can convert your HSBC Rewards Points to Velocity frequent flyer points. 2 HSBC Rewards Points equals 1 Velocity frequent flyer point.

Features of the HSBC Platinum Credit Card

  • Annual fee. Apply before 31 December 2016 and spend $6,000 on eligible purchases for each succeeding year to receive an annual fee refund.
  • Balance transfer offer. 0% p.a. for 15 months on non-HSBC credit card balances transferred to credit card at the time of application for the account.
  • Rewards points earnings. Earn 1 HSBC Rewards Point for every dollar spent on the card on eligible purchases.
  • Interest-free days. Receive up to 55 days interest-free when you make a purchase on the card and you pay your account in full each month.
  • Complimentary insurance package. Get protection for the items you buy with the card through extended warranty insurance, purchase protection insurance, guaranteed pricing insurance. Protect yourself and your family with transit accident insurance and international travel and medical insurance.
  • Additional cardholders. Add an additional cardholder to your account at no extra cost. When additional cardholders make an eligible purchase on their supplementary card, the primary cardholder earns points quicker.
  • Fraud protection. You’ll carry no liability if you’re the victim of card fraud. The Visa Zero Liability Policy gives you a money back guarantee if your account is compromised.
  • Visa cardholder benefits. Receive exclusive benefits to Visa cardholders like the Visa Platinum concierge service.
  • Access to Visa payWave. This card also comes with a Visa payWave technology, which lets you tap your credit card against a contactless terminal to pay for purchases under $100.

How to apply for the HSBC Platinum Credit Card

Once you have decided that HSBC Platinum Credit Card is the right card for you, simply complete an online application form to start the process. The online application is completely secure. You will have a response within minutes of completing the application from HSBC on the email you provided during application. HSBC will let you know whether you’ve been approved, declined or conditionally approved.

Eligibility criteria

  • Earn more than $40,000 p.a.
  • Have a good credit rating
  • 18 years or older
  • Be a permanent Australian resident

Required documents

  • Personal documents, like your drivers licence for identification purposes.
  • Employment documents, like pay slips and tax returns to prove your taxable income.
  • Employer details, like phone number and address in case HSBC needs to verify the information you provided with your employer.
  • Details and about assets and liabilities, like mortgage repayments and child support.
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245 Responses to HSBC Platinum Credit Card – Reviews and Application

  1. Default Gravatar
    Mary | July 27, 2016


    I was on this website (and HSBC) approx. 2 weeks ago and was looking at the HSBC Platinum Credit Card. I seem to remember that the annual spend to receive the annual fee refund was $3,000.00 and not $6,000.00, which it is now. Can you confirm if the bank has changed that condition and when?


    • Staff
      May | July 27, 2016

      Hi Mary,

      Thanks for your inquiry.

      For HSBC Platinum Credit Card, as in the fine prints found on the HSBC’s website, the annual fee of $149 p.a. will be refunded when you apply between 1 January 2016 and 31 August 2016 and spend $6,000 on eligible purchases with the card within 12 months of account approval.


  2. Default Gravatar
    Jonathon | July 6, 2016

    Does the balance transfer count as an ‘eligible purchase’? ie. If I do a balance transfer of +$6000 and make no purchases in a calendar year, do I get the annual fee refunded?

    • Staff
      Anndy | July 6, 2016

      Hi Jonathon,

      Thanks for your inquiry.

      For the purpose of getting an annual fee refund, eligible purchases are purchases of goods or services but excluding balance transfers as well as interest-free promotions, business expenses, cash advances, fees or charges, any disputed transactions, and any government fee or charge.

      If you transferred $6,000 to this card without making any other purchases, you won’t be eligible for the annual fee refund.


  3. Default Gravatar
    Premila | June 10, 2016

    Hi ..I am interested in your unsecured personal loans do I go about it ?

    • Staff
      Anndy | June 10, 2016

      Hi Premila,

      Thanks for your question.

      If you are interested to apply for unsecured personal loan, you can first compare your options on this page.. To submit an application for your chosen loan, click the green “Go to site” button but don’t forget to read the eligibility criteria before doing so.


  4. Default Gravatar
    Albert | May 29, 2016

    Do you charge any interest on purchase?

    • Staff
      Ysa | May 30, 2016

      Hi Albert,

      Thanks for your question.

      Please note that you’ve come through, an online comparison service and not a credit card issuer such as HSBC.
      However, we can confirm that the HSBC Platinum Credit Card charges a purchase rate of 19.99% p.a.

      I hope this helps.


  5. Default Gravatar
    Jade | May 18, 2016

    I want to apply for the promoted HSBC cc to do a balance transfer to 2 existing credit cards – Westpac Earth Black and Coles Myer Platinum MC. Before I make my application am I able to do the balance transfer from HSBC to these respective cards?

    • Staff
      May | May 18, 2016

      Hi Jade,

      Thanks for your question.

      Yes, transferring a balance from Westpac Earth Black and Coles Myer Platinum MasterCard to HSBC is possible.

      Whilst transferring balances from multiple credit cards to a new credit card is allowed, please keep in mind that the total amount to be transferred must not exceed the balance transfer limit. The amount you can transfer is often limited to a percentage of the credit limit (sometimes 70%-95%). This information is usually available in the product disclosure statement relevant to the card.

      I hope this has helped.


  6. Default Gravatar
    Nemra | May 2, 2016

    I filled out an application form but have not received any response?

    • Staff
      May | May 3, 2016

      Hi Nemra,

      Thanks for getting in touch.

      Just to confirm though that you’ve come through to we are a financial comparison website and general information service, not actually HSBC.

      Although most credit card applications give instant approval or conditional approval (approved within 2-4 business days), credit card issuers can take between one to two weeks to review an application. If you want to make a follow-up on the status of your application, please contact HSBC directly and their customer service team would be happy to assist you.

      I hope this has helped.


  7. Default Gravatar
    Alan | March 18, 2016

    Both my wife and I require a credit card linked to the same account.
    When filling in the application there was no section to request two cards.
    Do you have a phone number for HSBC so that I can ring and sort this out


    • Staff
      Ally | March 18, 2016

      Hi Alan,

      Thanks for your inquiry.

      I have just forwarded HSBC’s contact details to your email, as you’ve requested, together with a link to their FAQs (frequently asked questions) section.

      I hope this has helped.


  8. Default Gravatar
    Abby | March 9, 2016

    Hi, if I transfer My $6000 to this card at 0% how much will my repayments be for the 15months forthrightly ?

    • Staff
      Sharon | March 10, 2016

      Hi Abby,

      Thanks for your inquiry. You may refer to this page on how to calculate your monthly repayment.



    • Staff
      Jonathan | March 10, 2016

      Hi Abby, thanks for your inquiry!

      With 30 months your repayments will be $200 a fortnight.



  9. Default Gravatar
    Geoff | March 8, 2016

    Are points uncapped and how many are required for 1 QFF point

    • Staff
      Jonathan | March 8, 2016

      Hi Geoff, thanks for your inquiry!

      The HSBC Platinum Card does not allow points to be transferred to Qantas Frequent Flyer points. HSBC offer the HSBC Platinum Qantas Credit Card which is partnered with Qantas.



  10. Default Gravatar
    Nathan | February 15, 2016

    I already have a HSBC Platinum Credit Card.Can i apply for a balance transfer with them?

    • Staff
      Sharon | February 15, 2016

      Hi Nathan, thanks for your inquiry.

      The introductory balance transfer offer is applicable for new HSBC Platinum credit cardholders. Balance transfer requests for existing customers will be subject to the standard balance transfer rate. It would be best to call HSBC on 132 152 for more details.



    • Staff
      Jonathan | February 15, 2016

      Hi Nathan, thanks for your inquiry!

      Unfortunately existing cardholders are ineligible as the balance transfer must be from non-HSBC credit cards. You may like to compare other 0% balance transfer offers.



Credit Cards Comparison

Rates last updated October 28th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $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 Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card 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 3% balance transfer fee $59 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards 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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