HSBC credit cards

Use an HSBC balance transfer to save money and get your finances in order or start earning points as you spend towards free flights and upgrades.

By   |   Verified by David Boyd   |   Updated 5 Sep 2024

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Comparing HSBC credit cards

HSBC Platinum Credit Card

HSBC Platinum Credit Card

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Avail of the 0% p.a. on balance transfers for 12 months with a 2% balance transfer fee.
  • Enjoy the first year with no annual fee, then it's $149 per year afterward.
  • Earn 2 Reward Plus points per $1 spent on overseas eligible purchases and 1 Reward Plus point per $1 spent for all other eligible purchases.
  • $6,000 minimum credit limit.

Pros

  • 0% p.a. on balance transfers for 12 months.
  • $0 annual fee for the first year.
  • Enjoy 2 airport lounge passes every year.
  • Benefit from HSBC Instant Savings with exclusive dining and shopping discounts.
  • Includes complimentary travel and purchase protection insurance.
  • Choice of points transfer partners (Asia Miles, KrisFlyer, Velocity Frequent Flyer).

Cons

  • The balance transfer rate reverts to 21.99% p.a. after 12 months.
  • 2% balance transfer fee.
  • The 10,000 points cap per statement period.
HSBC Platinum Qantas Credit Card

HSBC Platinum Qantas Credit Card

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Earn 1 Qantas Point per $1 spent up to $1,000 each month, then 0.5 Qantas Points. Capped at 7,500 per statement period).
  • 0% p.a. for 12 months on balance transfers with no balance transfer fee. (Reverts to cash advance rate is 21.99% p.a.)
  • Comes with complimentary travel insurance and purchase insurance.

Pros

  • Earn up to 1 Qantas Point per $1 spent.
  • Comes with complimentary travel insurance and purchase insurance.
  • You get complimentary Qantas Frequent Flyer membership for free.
  • Add additional cardholders for free.
  • Up to 55 interest-free days.

Cons

  • Qantas Points are capped at 7,500 per statement period.
  • Ongoing annual fee of $299 p.a.
  • Ongoing interest rates are high.
HSBC Star Alliance Credit Card

HSBC Star Alliance Credit Card

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Fast track to Star Alliance Gold Status when you spend $4,000 or more on eligible purchases in the first 90 days from account opening. Terms and Conditions apply.
  • $0 annual fee for the first year ( $450 p.a. thereafter).
  • Earn 1 point per $1 spent up to $3,000 per statement period and 0.5 points thereafter.

Pros

  • $0 annual fee for the first year.
  • Enjoy 0% p.a. on balance transfers for 12 months with a 2% balance transfer fee.
  • Convert your Star Alliance points to frequent flyer points with 7 alliance member airlines.
  • Includes complimentary travel insurance and purchase protection insurance.

Cons

  • The annual fee reverts to $450 after the initial year.
  • You have to spend at least $60,000 annually to maintain Gold member status after the first year.
HSBC Premier World Mastercard (Reward Plus)

HSBC Premier World Mastercard (Reward Plus)

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • Earn 1.5 Rewards Plus points for every $1 spent on eligible purchases, up to a maximum of $120,000 per year.
  • Enjoy 2 complimentary airport lounge visits per year.
  • Benefit from complimentary insurance coverage, including Domestic and International Travel Insurance, Transport Accident Insurance, Extended Warranty Insurance, and Price Protection Insurance.

Pros

  • $0 annual credit card fee if you go with HSBC Rewards Plus.
  • $10,000 minimum credit limit.
  • Two rewards programs — HSBC Rewards Plus or HSBC Qantas Rewards — to choose from.
  • Earn HSBC Rewards Points on eligible local and international purchases.
  • Home & Away Privilege program.
  • Extensive complimentary insurance benefits for domestic and international travel.
  • Multiple additional cards.

Cons

  • There's a 3% foreign transaction fee.
  • Rewards Points capped at 10,000 per statement.
HSBC Low Rate Credit Card

HSBC Low Rate Credit Card

Balance transfer

12 months at 0% p.a.

Purchase rate

12.99% p.a. ongoing

Annual fee

$99.00 p.a. ongoing

Highlights

  • 0% p.a. for 12 months on balance transfers with a 2% fee.
  • A low ongoing 12.99% p.a. purchase rate.
  • No overseas transaction fees and complimentary domestic travel insurance.

Pros

  • 0% p.a. for 12 months on balances transferred.
  • Low ongoing rate on purchases at just 12.99% p.a.
  • Enjoy complimentary domestic travel insurance.

Cons

  • Balance transfers revert to the high cash advance rate.
  • 25.99% p.a. charged on cash advances.
  • There is a 2% balance transfer fee.
  • No rewards program.

More about HSBC credit cards

Get the lowdown on HSBC credit card features and benefits from our experts.

  • FAQs

Can I keep using my bank account and get an HSBC card?

Yes. You can keep using your existing bank account as usual and run your credit card with HSBC completely separately.

Will I be able to manage my account online?

Yes. In fact, HSBC have had an online banking solution since 2001.

Do HSBC offer telephone banking?

Yes. You can use their automated telephone banking or speak to a real person if you need to.

Can I transfer balances from one HSBC credit card to another?

No. You can only transfer balances from credit cards and store cards from other financial institutions. You can, however, make as many balance transfers as you like from third party credit cards and store cards.

How do I apply for a balance transfer to HSBC?

New customers can apply for a balance transfer when they apply for a new HSBC credit card by completing the balance transfer section of the online application.

Can I have an HSBC credit card in joint names?

No, HSBC cards are only issued to one name. You can, however, request an additional card to be provided for an authorised friend or relative aged 16 years or over. You should be aware that the primary named cardholder is responsible for all expenses on any additional card.

Do HSBC have any local branches in Australia?

The bank operates 36 offices and branches in Australia with HSBC Bank Australia headquarters located in Sydney.