The HSBC Platinum Qantas Credit Card has a moderately high interest rate, a moderately high annual fee and a moderate number of interest-free days. It also comes with a moderate minimum credit limit.
Cardholders can earn points for spending on this card as part of the Qantas Frequent Flyer programs. Points can be redeemed for flights, upgrades and other purchases through the Qantas store. Customers can also earn bonus points on eligible purchases if certain spending thresholds are met.
Complimentary insurance benefits with this card include domestic and international travel insurance, rental car cover, transit accident insurance, extended warranty insurance, guaranteed pricing cover and purchase protection insurance.
Balance transfers to the HSBC Platinum Qantas Credit Card come with a 0 per cent interest rate for a limited time. Five supplementary cards are also allowed at no extra cost.
- Qantas Frequent Flyer program
- Bonus points offer
- Complimentary insurance
- Moderately high interest rate
- Moderately high annual fee
- Overseas spending fee charged
Who is it good for?
This card might suit Qantas Frequent Flyer members who travel often, spend frequently and are able to pay off their credit card balance each month. Although the rewards program and complimentary insurance would be beneficial to travellers, this card also comes with international spending fees – so it isn’t particularly suitable for using while overseas.
Those wishing to add a supplementary cardholder (such as couples and families) might benefit from the HSBC Platinum Qantas Credit Card’s allowance for five additional cardholders at no extra cost.
Additionally, people thinking about transferring existing debt could take advantage of this card’s introductory balance transfer deal.
However, because this card has a moderately high interest rate and annual fee, it isn’t especially suitable for people who sometimes struggle to clear their debt on a monthly basis.
What RateCity says
The HSBC Platinum Qantas Credit Card offers a range of advantages for a relatively wide customer base – the ability to earn frequent flyer points, a balance transfer offer, complimentary insurance and a variety of other perks.
Likewise, the allowance for five free additional cardholders is quite generous in comparison to some other comparable cards.
However, it also comes with a moderately high interest rate and annual fee – as is standard for a rewards card – so it’s important to weigh up the potential benefits against the risk of accruing added debt.
If you want a credit card but really need to cut down on costs, it might be worth having a look at some of the other cards on the market that are geared towards budget cardholders (and tend to have lower rates and fees).
To be eligible for the HSBC Platinum Qantas Credit Card, you need to be at least 18 years of age, have a good credit rating and earn at least $40,000 a year. To apply, you’ll need to provide personal details, proof of ID, employment details and proof of reliable income such as bank statements or payslips. Applications can be completed in around 10 minutes online or by visiting an HSBC branch in person.
About HSBC Bank
HSBC Bank Australia is part of the London-headquartered HSBC Group – one of the largest banking and financial services organisations in the world. Their range of personal finance products include credit cards, savings accounts, investments, insurance, mortgages and personal loans, among others. HSBC’s banking services are available through their online banking portal, mobile banking app and in-branch. Customer support is available by phone, email, on Twitter or by visiting a branch.