Important disclosure

HSBC Bank Australia Limited

HSBC Platinum Credit Card (Balance Transfer Offer)

  • Apple & Google Pay
  • Balance transfer

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

“A 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.”

Tags
  • Apple & Google Pay
  • Balance transfer
Purchase Rate

19.99%

p.a

Balance Transfer Rate

0%

p.a

Annual Fee

$29

for 12 months then $149 thereafter

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
Specials
  • 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.

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Visa Platinum Credit Card

  • Balance transfer
Purchase Rate

4.99%

p.a

for up to 5 months, then 19.49%

Annual Fee

$199

Promoted

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ANZ Banking Group Limited

Rewards Platinum

  • Apple, Google & Samsung Pay
  • Balance transfer

Bonus Points

Earn 100,000 extra ANZ Reward Points and $50 back to your new ANZ Rewards Platinum credit card when you spend $2,000 on eligible purchases in the first 3 months from approval.*
Purchase Rate

20.99%

p.a

Annual Fee

$149

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ANZ Banking Group Limited

Platinum

  • Apple, Google & Samsung Pay
  • Balance transfer
  • Low annual fee

Cashback

Earn $300 back to your new ANZ Platinum card when you spend $1,500 on eligible purchases in the first 3 months from approval.*
Purchase Rate

20.99%

p.a

Annual Fee

$0

for 12 months then $87 thereafter

Promoted

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National Australia Bank Limited

Low Fee Platinum

  • Apple, Google & Samsung Pay
  • Balance transfer
  • Low annual fee

Balance Transfer

0% p.a. on balance transfers for 12 months (3% BT fee applies).
Purchase Rate

19.74%

p.a

Annual Fee

$90