HSBC is shutting down its credit cards. Here’s the dates you need to know
Key takeaways
- 17 November is the big date: It's the absolute last day HSBC customers can use their credit cards.
- Recurring payments need to be moved: Customers should update direct debits, subscriptions and regular payments linked to their HSBC card before 18 November.
- What's next: Your debt doesn't disappear, so if you have an outstanding balance, you'll need to make repayments after the card is cancelled.
HSBC Australia is closing its consumer credit card business, with all HSBC-issued personal credit cards set to be cancelled in November.
The bank announced in July that it would wind down its Australian retail banking business over the next 18 months.
It has already stopped accepting new credit card applications. Additional cardholder requests, credit limit increases, balance transfers, cash transfers and product transfers are also no longer allowed.
And now, it has confirmed the key dates for credit card customers, including:
- when cards will stop working
- when annual fees will end, and
- what happens to outstanding balances.
While there's no immediate action required, HSBC customers should take note of the following dates.
12 August 2026: HSBC credit card annual fees stop
HSBC stopped charging annual fees on its consumer credit cards from 12 August 2026.
If you were charged an annual fee in the previous year, from 13 August 2025 onwards, HSBC will refund the fee on a pro-rata basis.
These refunds are due to be processed by 12 October 2026, provided your credit card account remains open at the time.
The actual refund will depend on how much your annual fee is, when it was last charged and HSBC's pro-rata calculation.
For example
Say your annual fee of $99 was charged on 1 January 2026. HSBC would refund the unused portion from 12 August 2026 onwards:
- Annual fee period: 1 January – 31 December 2026
- Fee-free from: 12 August 2026 – 31 December 2026
- Roughly 4.6 months of the annual fee period is unused
- $99 ÷ 12 × 4.6 = $38
- The customer could receive a pro-rata refund of around $38
17 November 2026: Last day to use your HSBC card
This is the big one.
17 November 2026 will be the final day that HSBC customers can purchase things and transact using their credit cards.
After this date, cards can no longer be used for purchases, cash advances, recurring payments or BPAY transactions.
This obviously applies to primary and additional cardholders.
Do you have any subscriptions, streaming services, gym memberships, insurance premiums, recurring bills or regular payments coming out of your HSBC credit card? If so, HSBC says you should update your payment details with each provider before 18 November.
18 November 2026: HSBC cards are cancelled
On this date, HSBC will automatically cancel all consumer credit card accounts. This includes cards stored in digital wallets such as Apple Pay and Google Pay.
Customers should destroy their physical cards after this date.
The credit card account itself will be automatically closed once:
- the balance has been paid down to $0, and
- there are no pending transactions, fees or charges.
You can still access your credit card account and statements through HSBC's mobile app and online banking after cancellation.
What happens if I haven't paid off my HSBC card balance?
If you owe money on your HSBC credit card, the account's closure doesn't wipe the debt.
Customers must continue making their monthly repayments until the balance has been paid in full. Interest and applicable fees, such as late payment and overlimit fees, will continue to apply until the account is closed.
This means you have a bit of time up your sleeve to pay it off, but you'll pay sky-high interest (over 20%) in the process. Applying for another card with a 0% balance transfer rate could be a good move.
HSBC says outstanding credit card balances are expected to be transferred to Credit Corp Group in the first half of 2027, subject to regulatory approval. Customers will receive more information about this transition in the coming months.
What happens to your credit card points?
If you have an HSBC rewards credit card, there's another date worth remembering.
→ HSBC Rewards Plus Points can continue to be earned on eligible purchases until 17 November. HSBC recommends redeeming any available Rewards Plus Points before the account closes.
→ Qantas Points will be earned on eligible spending on HSBC Platinum Qantas and HSBC Premier Qantas cards until 17 November.
→ Star Alliance Points can be earned on eligible spending on the HSBC Star Alliance credit card until 17 November. Points can be transferred to participating airlines after this date through the Star Alliance Rewards account.
Other complimentary card benefits will end from 18 November.
What should HSBC credit card customers do now?
There's no need to panic or immediately pay off your card if you have a balance.
However, it's worth using the next couple of months to get organised. There are 3 simple steps you can take as soon as you're ready to tick this off your to-do list:
- Decide if you want another credit card. You may want a new card to continue using it for spending and bills. Or, you might want to transfer your HSBC debt to a 0% balance transfer card, to pay it off over time and avoid sky-high interest and fees.
- Do you have recurring payments attached to your HSBC card? Make a list of every regular transaction and move them to your new credit card or a bank account before 18 November.
- If you have rewards points, check your balance. You'll either want to redeem them or transfer them before the account closes.
If your HSBC card is your only credit card, you may want to compare your options and apply for a replacement before your HSBC card stops working.
Compare and switch to a better credit card today
Compare other products
How we picked these
Sources
More resources on Finder
Ask a question
More guides on Finder
-
Credit card rewards tracker: points, perks and fee changes
We're tracking every cut to a credit card points program ahead of the credit card surcharge ban.
-
American Express statistics
Insights and analysis on American Express credit cards, costs, acceptance and more.
-
Credit card types: Figure out what card you need
Compare different types of credit cards in Australia, including balance transfer, rewards and frequent flyer, low rate, no annual fee and business cards.
-
Australian credit card statistics
Discover exactly how the average Australian uses their credit card.
-
Credit Card Interest Rates
The interest rate is what you pay on top of the money you've spent when you use your credit card. How it works and how to pay less.
-
Australian household debt statistics
How much debt do Australian households have, and how does it compare to other countries around the world?
-
Credit card chargebacks: how to reverse fraudulent card activity
Find out why credit card companies deny chargebacks and how you can prepare yourself for these situations.
-
How long does it take to get a credit card?
From submitting the application and getting approval to receiving the card in the mail, here's how long it takes to get a new credit card.
-
Am I responsible for someone else’s credit card debt?
If your spouse or a loved one has credit card debt, there are only a few reasons you’d be liable. We go through the details here.
-
How to increase your credit card limit
A step-by-step guide on how to apply for a credit limit increase with ANZ, Commonwealth Bank, NAB, Westpac and other major Australian credit card issuers.