Choosing the best Qantas Frequent Flyer credit card to suit your circumstances can be difficult. There are so many variables to consider. How many points are earned per dollar spent? Are points capped? Are there any sign-up bonus points on offer? Is it an Amex card, therefore not accepted everywhere or possibly subject to a surcharge? And how much is the annual fee?
Best take a look, then, at the HSBC Platinum Qantas Credit Card, which comes with one of the best available non-Amex combinations of points earning rate and annual fee. Its points cap is high enough for it never to be a problem, and the package contains all the usual platinum card benefits.
You need to be a Qantas Frequent Flyer member to earn your bonus Qantas Points. If you are not one already, you get a complimentary membership, priced at $99.50 at no extra cost.
You can earn 1 Qantas Point per $1 spent on eligible purchases up to $1,000 for each statement period. Once you cross that threshold, you earn 0.5 Qantas Points on eligible purchases, which are capped at 7,500 points per month.
This earning rate is good for a Visa or Mastercard (except for the very expensive cards issued by Qantas Money).
This card has a monthly cap of 7,500 Qantas Points ($12,500 of spending). This means that after spending $12,500 in any one month, no further Points can be earned in that month. That’s unlikely to trouble most cardholders.
The monthly $2,500 threshold is more annoying, beyond which the earning rate drops to 0.5 Qantas Points per dollar. Many cardholders will reach this monthly limit and see their earning rate fall in the last part of the statement period. However, many competing cards have similar restrictions.
The annual fee for the HSBC Platinum Qantas Credit Card is $299 p.a., which some might find relatively high compared to other credit card options. However, it's important to consider the card's benefits and rewards structure to determine whether the annual fee is justified based on your spending and travel habits.
HSBC have covered most bases with the card’s complimentary insurance policies. Here’s what’s included:
The travel policies are activated by paying travel costs with the card. In the case of overseas travel, this means paying at least 90% of the return airfares of all travellers needing cover, and in the case of domestic travel, paying at least 90% of all fares plus accommodation.
Do you have an overdue balance on your current credit card? That might mean paying interest at 20% p.a. (or more). You can transfer that balance to your new HSBC Platinum Qantas Credit Card and pay no interest for 12 months, as well as pay no upfront fee. This will save you heaps in interest charges.
After you’ve repaid your transferred balance, or immediately if you don’t have one, there’s an accommodating 55-day billing cycle, 11 days longer than the 44 days applied by some cards. This means that you’ll get up to 55 days interest-free each month, depending on the timing of your purchases. You pay the ongoing purchase interest rate of 19.99% p.a. on any balances remaining beyond the interest-free period.
Because it’s a Visa Platinum card, certain perks are automatic. They include the Visa Premium Concierge Service for worldwide lifestyle advice and assistance, just a phone call or mouse click away. The best seats in the house for concerts and the theatre are assured, even before they go on sale to the general public. Plus, you’ll have access to travel and accommodation discounts just for being a Visa Platinum cardholder.
There’s yet another built-in benefit. You’ll receive free membership of the Frequent Values program, giving you access to ongoing discounts for more than 4,500 offers from supermarkets, petrol stations, restaurants, department stores, entertainment and hotel accommodation.
With an earn rate that drops after the first $2,500 spent each month, this isn't a card for big spenders. But if you are happy to see your Qantas Points balance climb steadily, this card is worth serious consideration.
Reviewed by Nilooka Dissanayake
Perfect for Qantas points
Reviewed by R
I love this card. I just need a new chip on it so I can do payWave easily. It’s a great way to accumulate Qantas Frequent Flyer points by spending on everyday items.
I would pick this card any day, but it does have high annual fees, so beware of the sting. Great card otherwise and would recommend.
Great rewards and security
Reviewed by Paul
This HSBC card is a highly valuable and useful card. I enjoy using this card for online shopping and groceries. Payment is easy.
OK if you can use QFF points
Reviewed by Chris
There are decent QFF reward points. The interest rate is high though. I would recommend it if you have a use for QFF points. Otherwise
No fuss to join, excellent personalised service.
Reviewed by Graham
Having endured 18 days being messed around by another bank, it was refreshing to be accepted by HSBC in less than 24 hours.
The $199 annual fee with 60
HSBC = Paranoia!
Reviewed by J
Having recently applied online for this card I have to say that HSBC paranoia is perhaps the most extreme that I’ve ever experienced.
Having dutifully completed every question on the online application and then uploaded a recent salary slip as they requested
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