Important disclosure
HSBC Platinum Credit Card (Balance Transfer Offer)
Balance Transfer
Enjoy 0% p.a. interest on Balance Transfers for 12 months with a 2% BT Fee and a reduced annual fee of $29 in the first year. To be eligible for the introductory balance transfer rate, the balance transfer request must be made when applying for the HSBC Platinum Credit Card. Your total balance transfers must not exceed 90% of your approved credit limit. The interest rate on the balance transfer applies for 12 months and must be from non-HSBC credit cards. After this period, any balance outstanding from the balance transfer will accrue interest at the cash advance rate (currently 21.99% p.a. and subject to change). HSBC will allocate payments received from you to pay off the portion of your balance attracting the highest interest rate first and subsequently to portions of your balance attracting lower interest rates. This may mean applying any and all payments made to your Platinum Credit Card account to pay off other transactions such as purchases and cash advances before any balance transfer amount.Offer available when you apply for a new Platinum credit card. HSBC may change or end this offer at any time. 1. To be eligible for the introductory balance transfer rate, the balance transfer request must be made when applying for the HSBC Platinum Credit Card. Your total balance transfers must not exceed 90% of your approved credit limit. The interest rate on the balance transfer applies for 12 months and must be from non-HSBC credit cards. After this period, any balance outstanding from the balance transfer will accrue interest at the cash advance rate (currently 21.99% p.a. and subject to change). HSBC will allocate payments received from you to pay off the portion of your balance attracting the highest interest rate first and subsequently to portions of your balance attracting lower interest rates. This may mean applying any and all payments made to your Platinum Credit Card account to pay off other transactions such as purchases and cash advances before any balance transfer amount. 2. The annual fee will be $29 in the first year and charged on the first statement of account. This will revert to $129 in subsequent years and is subject to change.
Purchase Rate
19.99%
p.a
Balance Transfer Rate
0%
p.a
RateCity says
โA competitive platinum card offering from a global provider. Cardholders can enjoy a lengthy balance transfer period and a range of perks from the HSBC Rewards Program.โ
Pros and cons
For Platinum Credit Card (Balance Transfer Offer)
Benefits
- Rewards Available through HSBC Rewards Plus Program
- $29 annual fee in the first 12 months and $149 p.a thereafter.
- Domestic travel insurance
- International travel insurance
- Free supplementary cards
- Price guarantee
- Extended warranty
- Rental car excess insurance
- Concierge
- Partner discounts
- Airport lounge
- Purchase protection insurance
Drawbacks
- Higher than average ongoing variable purchase rate
- Higher than average ongoing annual fee
HSBC Rate Credit card overview
For Platinum Credit Card (Balance Transfer Offer)
Details
Card Level Platinum | Card Type Visa |
Interest Free Days 55 | Minimum monthly repayment 3% or $20 |
Minimum credit limit $6k | Maximum credit limit No set max |
Free supplementary cards | Instant Approval |
Target Market Determination Visit HSBC Bank Australia Limited to view Target Market Determination. |
Fees
Annual Fee $29 for 12 months then $149 thereafter | Annual Fee Spend Waiver |
Supplementary card annual fee $0 | Late Payment Fee $30 |
Over limit fee $30 | Duplicate statement fee $8 |
Electronic Wallet Service
Important Rates
Rates
Purchase Rate 19.99% p.a |
Cash advance rate 21.99% |
Cash advance fee 3% or $4 |
Balance Transfer
Balance Transfer Rate 0% p.a |
Transfer Limit 90% of the approved credit limit |
Balance Transfer Fee |
Overseas spending
Foreign Exchange Fee 3% on Visa |
Overseas charges $4 |
Estimated ATM Cost $13 for AU $300 withdrawal |
Rewards
Program name HSBC Rewards Plus Program |
Rewards Available Gift Card, Cash Back |
Eligibility
Minimum age 18 |
Minimum income $40k |
Eligibility conditions - |
Residency |
Perks
- DOMESTIC TRAVEL INSURANCE You must pay an excess of A$200 for each claim
- INTERNATIONAL TRAVEL INSURANCE You must pay an excess of A$200 for each claim other than the replacement of travel necessities. If you make more than one claim from a single event, the excess only applies once.
- FREE SUPPLEMENTARY CARDS
- PRICE GUARANTEE If you purchase personal goods in Australia and then find the same product advertised later at a cheaper price, you can claim back the difference if it is more than $75.
- EXTENDED WARRANTY Warranty is extended for the same duration as the original warranty up to 1 year.
- RENTAL CAR EXCESS INSURANCE
- CONCIERGE
- PARTNER DISCOUNTS
- AIRPORT LOUNGE 2 per year
- PURCHASE PROTECTION INSURANCE Covers with a $100 excess
- Balance TransferOther Enjoy 0% p.a. interest on Balance Transfers for 12 months with a 2% BT Fee and a reduced annual fee of $29 in the first year. To be eligible for the introductory balance transfer rate, the balance transfer request must be made when applying for the HSBC Platinum Credit Card. Your total balance transfers must not exceed 90% of your approved credit limit. The interest rate on the balance transfer applies for 12 months and must be from non-HSBC credit cards. After this period, any balance outstanding from the balance transfer will accrue interest at the cash advance rate (currently 21.99% p.a. and subject to change). HSBC will allocate payments received from you to pay off the portion of your balance attracting the highest interest rate first and subsequently to portions of your balance attracting lower interest rates. This may mean applying any and all payments made to your Platinum Credit Card account to pay off other transactions such as purchases and cash advances before any balance transfer amount.Offer available when you apply for a new Platinum credit card. HSBC may change or end this offer at any time. 1. To be eligible for the introductory balance transfer rate, the balance transfer request must be made when applying for the HSBC Platinum Credit Card. Your total balance transfers must not exceed 90% of your approved credit limit. The interest rate on the balance transfer applies for 12 months and must be from non-HSBC credit cards. After this period, any balance outstanding from the balance transfer will accrue interest at the cash advance rate (currently 21.99% p.a. and subject to change). HSBC will allocate payments received from you to pay off the portion of your balance attracting the highest interest rate first and subsequently to portions of your balance attracting lower interest rates. This may mean applying any and all payments made to your Platinum Credit Card account to pay off other transactions such as purchases and cash advances before any balance transfer amount. 2. The annual fee will be $29 in the first year and charged on the first statement of account. This will revert to $129 in subsequent years and is subject to change.
Other Restrictions
Eligible purchases exclude interest free promotions, balance transfers, business expenses, cash advances, fees or charges, any disputed transactions, and any government fee or charge.