HSBC Platinum Qantas Credit Card – Rate and fees

Information verified correct on June 27th, 2016
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Earn 40,000 bonus Qantas Frequent Flyer points and repay your debt with a low balance transfer when you apply for the HSBC Platinum Qantas Credit Card before 30 June 2016.

The HSBC Platinum Qantas Credit Card is an option if you want platinum credit card features without all of the costs. You’ll earn 1 Qantas Point per $1 spent in Australia and up to $2,500 spent per statement period plus the opportunity to earn points on purchases overseas. Receive piece of mind courtesy of complimentary insurance covers and repay your debts with a low promotional balance transfer offer.

Product NameHSBC Platinum Qantas Credit Card
Rewards ProgramQantas Frequent Flyer
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.)19.99% p.a.
Offer end date30 June 2016
Annual fee$199 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.
$6,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$60,000
Minimum Monthly Repayment3% or $20 whichever is higher
Minimum Income$40,000
Card TypeVisa
Late Payment Fee$30
Foreign Currency Conversion Fee (VISA)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.
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.
$6,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$60,000
Annual Fee$199 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 Cash Advance FeeThe higher of $4 or 3.0% of the total transaction amount
Overseas Emergency Replacement$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
  • 0% p.a. interest charged balance transfer for the first 6 months.
  • This card offers a range of benefits including complimentary insurance covers for your piece of mind while abroad.
Cons
  • The 19.99% p.a. interest rate charged on purchases is expensive compared to other cards on the market.
  • Any balance brought over to the card through the balance transfer feature that is not paid-off at the end of the promotion period will be charged at the cash advance rate of 21.99% p.a..
Rewards ProgramQantas Frequent Flyer
Bonus Points on Sign-up40,000
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) Cap2,500
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

HSBC Platinum Qantas Credit Card Review

If you’re in the market for a platinum credit card that earns Qantas Points, it’s almost impossible to avoid paying an annual fee. The HSBC Platinum Qantas Credit Card has an annual fee of $199. This card is a direct earn Qantas Frequent Flyer card and you can look forward to 40,000 bonus Qantas Points when you meet the spend requirement. Earn 1 Qantas Point per $1 spent on eligible purchases.

The offer of 40,000 bonus points is only available to new HSBC Credit Card holders who apply by 30 June 2016, are approved and spend $1,500 on eligible purchases within 3 months of receiving their card.

Benefits of the HSBC Platinum Qantas Credit Card

  • Direct earn Qantas frequent flyer credit card

    • Direct earn product. This product is linked directly to the Qantas frequent flyer program. Any eligible spend on the card earns Qantas Points for your membership account. If you’re not already a Qantas Frequent Flyer member, HSBC Platinum Qantas Credit Card customers can complete an online Frequent Flyer application form via the Qantas website to receive your complimentary Frequent Flyer membership (valued at $89.50).
    • Qantas Points earn rate. Earn 1 Qantas Point per $1 spent on eligible purchases in Australia and overseas. This includes purchases made on an overseas website if you’re shopping online with this card. Purchases made in a foreign currency will attract a currency conversion fee of 3%. There is a points earning cap of $2,500 per statement period and 0.5 points will be earned per $1 spent thereafter.
    • 40,000 Qantas Points sign up bonus. Apply for the HSBC Platinum Qantas Credit Card before 30 June 2016 to get 40,000 bonus Qantas Points. To get the bonus points, you need to spend a minimum of $1,500 on eligible purchases within three months of opening the account.
  • 0% p.a. for 6 months on balance transfers

    • 6 months interest free. Elect to transfer your non-HSBC credit card, store card or charge card debt when you apply for the HSBC Platinum Qantas Credit Card and get 0% p.a. for 6 months as a balance transfer promotional offer.
    • Order or repayments. If you transfer a balance to the HSBC Platinum Qantas Credit Card, and you use the card to make a purchase, repayments will be applied to the purchase portion of the credit card balance before the balance transfer is repaid.
    • Reverts to the cash advance rate. At the end of the balance transfer introductory period the cash advance rate will be charged on any unpaid promotional balance, currently 21.99% p.a.
  • Complimentary insurance and benefits

    • Complimentary international travel insurance. There are a number of covered events and exclusions. This account offers unlimited cover for hospital and medical expenses if you’re sick or injured, and up to $20,000 cover for personal belongings. Check the policy document for further information about this cover. Transit accident insurance is also an included benefit with this account. It provides financial compensation if you or your family suffer injury or death while travelling overseas as a passenger in a vehicle.
    • Extended warranty insurance. Purchase a ‘covered product’ with the HSBC Platinum Qantas Credit Card and the Australian manufacturer’s warranty is automatically doubled (up to 12 months).
    • Purchase protection insurance. Purchase a ‘covered product’ and this policy covers the item against loss, damage and theft.
    • Guaranteed pricing. This benefit will refund the difference in price if you purchase an item with the card and you see it in a different store for less.
Activating the travel insurance

The complimentary international travel insurance is automatically activated when you meet the policy eligibility requirements. You need to purchase your return overseas travel ticket on your HSBC Platinum Qantas Credit Card to activate the international travel insurance.

Features of the HSBC Platinum Qantas Credit Card

  • Annual fee. $199 annual fee.
  • 40,000 Qantas Points. Receive a sign up bonus if you apply before 30 June 2016, are approved and spend $1,500 on eligible purchases within 3 months of receiving your card.
  • Earn Qantas Points. Earn 1 Qantas Point per $1 spent on eligible purchases in Australia and overseas.
  • Interest-free days. 55 interest-free days on purchases if you pay your account in full each month.
  • Balance transfer offer. 0% p.a. for 6 months on balances transferred to this account.
  • Qantas Points earnings. Earn Qantas Point faster by adding an additional cardholder to your account for $0.
  • Fraud protection. You’re not liable to pay for any fraudulent transactions detected on the account.
  • Access to Visa payWave. You have access to Visa payWave which allows you to simply tap your card against a contactless reader and pay for your purchases under $100.
  • Visa Card scheme benefits. Visa cardholders get access to Visa Privileges like discounts at international hotels.
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How to apply for the HSBC Platinum Qantas Credit Card

Complete the online application in about ten minutes. Once you submit the application, HSBC will be in contact within a matter of minutes to confirm the status of your application.

Eligibility criteria

Before you apply, make sure you meet the following eligibility criteria:

  • Minimum income requirement of $40,000 p.a.
  • Be over 18 years of age
  • Have a good credit rating
  • Be an Australian resident

Required documents

To ensure that your application for the card runs smoothly, have the following information ready:

  • Personal details, like drivers licence number
  • Information about your income and details about your employment situation
  • Details about your assets and liabilities
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Frequently asked questions

What transactions are considered eligible purchases?

To get your bonus Qantas points and Qantas lounge access, you need to make an eligible purchase on the card in the first three months. An eligible purchase is an everyday purchase and excludes transactions like interest-free promotions, balance transfers, cash advance charges, BPAY and government charges and business expenses.

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500 Responses to HSBC Platinum Qantas Credit Card – Rate and fees

  1. Default Gravatar
    Elisabeth | June 15, 2016

    Looking to change my current Platinum) card to your card. If i get a card and have an additional cardholder-will that card holder also get FF points as a holder of his own FF membership?

    • Staff
      Anndy | June 16, 2016

      Hi Elizabeth,

      Thanks for your comment.

      I would like to clarify that finder.com.au is a financial comparison and information service and is not a credit card company.

      With HSBC Platinum Qantas Credit Card, an additional cardholder is not eligible for Qantas membership in their own right but will earn Qantas Points that will accrue to the main cardholder’s program account.

      I hope this answers your question.

      Cheers,
      Anndy

  2. Default Gravatar
    Sandra | May 5, 2016

    I already have an HSBC credit card that I have never used. Can I transfer this credit card over to the Platinum Qantas Credit Card? Or would this have to be a completely separate application? I am concerned that I will not be accepted because my current HSBC card has quite a big credit limit ($25k I think).

    • Staff
      May | May 5, 2016

      Hi Sandra,

      Thanks for your inquiry.

      To be able to get an HSBC Platinum Qantas Credit Card, you need to go through the process of application for the card. To apply, please click on the ‘Go to site’ green button to head over to HSBC’s website. Though please keep in mind that you cannot do any balance transfer to this card from your existing HSBC credit card.

      Cheers,
      May

  3. Default Gravatar
    Keiran | May 4, 2016

    Is there a cap on the amount of points you can build up?

    • Staff
      Anndy | May 4, 2016

      Hi Keiran,

      Thanks for your comment.

      With HSBC Platinum Qantas Credit Card, you will earn 1 Qantas point per $1 spent on eligible purchases until the cap of $2,500 per statement period. Thereafter, you will earn 0.5 point per $1 spent.

      I hope this answers your question.

      Cheers,
      Anndy

  4. Default Gravatar
    Sandra | May 4, 2016

    Does this card include free membership to Qantas frequent flyer program?

    • Staff
      May | May 4, 2016

      Hi Sandra,

      Thanks for your inquiry.

      In the HSBC fine prints, it states that your membership with Qantas frequent flyer program is subject to the terms and conditions of Qantas FF program. And Qantas T&Cs state that members must apply for Membership and pay any applicable joining or other fees.

      For your reference, I’ve sent to your email the link to Qantas T&Cs.

      Cheers,
      May

  5. Default Gravatar
    Fernando | April 27, 2016

    Hi, once I have made the minimum spend and paid back the full balance, when are the 40,000 bonus points credited to my account?

    • Staff
      Sharon | April 27, 2016

      Hi Fernando,

      Thanks for your inquiry.

      The 40,000 bonus Qantas Frequent Flyer points will ordinarily be credited to your account within 2 months of making an eligible purchase.

      I hope this has answered your question.

      Sharon

  6. Default Gravatar
    Peter | April 20, 2016

    Hi, with the HSBC Platinum Qantas Credit Card do I get any complimentary passes into a Qantas Club Lounge?

    • Staff
      Sharon | April 20, 2016

      Hi Peter,

      Unfortunately, HSBC Platinum Qantas credit card no longer offer this benefit. You can compare credit cards with complimentary air lounge access on this page.

      I hope this helps.

      Sharon

  7. Default Gravatar
    BILL | April 17, 2016

    I am a self-funded retiree and have substantial assets in my SMSF, held jointly with my wife. Being in the pension phase, I can take out what I like, and my wife and I jointly take out a little over $40,000 a year each, which is generally sufficient, having no mortgage, but we can take out substantially more if need be for overseas trips, new car purchase etc. My wife, in addition, has part time employment. We put most our purchases on my credit card, and I transfer funds from her account if required for monthly repayments. However, if I fill in a credit card application with HSBC, I have no salary slips, and if one looks simply at what I draw out personally, it looks as if I have limited income in order to get a decent credit limit. How do the credit assessors take this into account?

    • Staff
      May | April 18, 2016

      Hi Bill,

      Thanks for your inquiry.

      There are actually a number of credit card companies that will accept your application even if you are already retired and receiving a pension. However, please note that each company has their own set of requirements and there are certain terms and conditions that you have to meet. Therefore, it may be wise that you do a research and organise your documents first before applying. Please feel free to check and find more information on guide outlined on this page.

      I hope this has helped.

      Cheers,
      May

  8. Default Gravatar
    Sue | April 13, 2016

    Please clarify the lounge access and If I pay my ATO payment do I get points?

    • Staff
      May | April 13, 2016

      Hi Sue,

      Thanks for your inquiry.

      Unfortunately, the airport lounge access benefit is no longer offered by HSBC for their Platinum Qantas Credit Card. The brands that offer this kind of benefit can be found on this page.

      As for ATO payments, whilst a number of banks are removing this feature from their cards, American Express credit cards can earn points for ATO payments.

      Hope this helps.

      Cheers,
      May

  9. Default Gravatar
    Paul | February 28, 2016

    When does the annual fee need to be paid? If I opt out of this card say after 6 months for personal reasons is there some kind of penalty get out fee?
    Cheers, Paul.

    • Staff
      Sally | February 29, 2016

      Hi Paul,

      Thanks for your question.

      The annual fee will be charged on the first statement.

      There is no account closure penalty, regardless of when you close the account. You’ll just need to have paid the balance in full to close the account.

      I hope this has helped.

      Cheers,

      Sally

  10. Default Gravatar
    Ness | February 24, 2016

    Can a parent buy the card and transfer the points and insurance to me? I don’t earn the minimum wage to apply for the credit card, how can I get the benefits of the card?

    • Staff
      Sally | February 24, 2016

      Hi Ness,

      Thanks for your question.

      If your parent uses the card and earns Qantas Points, they can transfer the points to you via Qantas’ family transfer function.

      Another way you can take advantage of the card’s features is if you travel with your parent, meet the eligibility requirements and can receive the complimentary overseas travel insurance.

      However, if your parent doesn’t need a credit card, the points and extra benefits might not be worth the cost of the annual fee.

      You can compare other Qantas frequent flyer credit cards here.

      I hope this has helped.

      Cheers,

      Sally

Credit Cards Comparison

Rates last updated June 27th, 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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