In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Ask a question
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HSBC Platinum Credit Card
Terms and conditions apply
Balance transfer rate for 12 months with 2% balance transfer fee
0% p.a.
Purchase rate
19.99% p.a.
Reward points per $ spent
Annual fee for the first year ($149 p.a. thereafter)
$0 p.a.

Our verdict

Offers 0% on balance transfers for 12 months, with a one-time 2% balance transfer fee.

The HSBC Platinum card helps you save with a $0 first-year annual fee and 0% p.a. interest on balance transfers for 12 months (with a one-time 2% balance transfer fee). To give you an idea of the potential savings, if you wanted to transfer $2,000 and were currently being charged 19.99% p.a. interest, you could save $221.73 in interest over a year – even with the balance transfer fee. But this isn't the longest balance transfer offer on the market, so if you need more time it's worth comparing others before you apply.


  • 0% p.a. on balance transfers for 12 months
  • $0 first-year annual fee
  • 2 airport lounge passes every year
  • Includes complimentary travel and purchase protection insurances


  • Balance transfer reverts to a relatively high 21.99% p.a. cash advance rate
  • Charges a one-time 2% balance transfer fee
  • Charges a 3% foreign transaction fee

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Ask a question

The HSBC Platinum Credit Card gives you a way to pay off existing credit card debt with no interest for 12 months. This offer has a 2% balance transfer fee, but does not charge an annual fee in the first year. Make sure you weigh up these potential costs and savings when you're comparing cards. Just as with any balance transfer offer, you should also aim to pay off the full balance before the 21.99% p.a. revert rate kicks in.


Product details

Product Name HSBC Platinum Credit Card
Balance transfer rate p.a. 0% for 12 months with 2% balance transfer fee, then 21.99%
Balance transfer limit 90% of available limit
Purchase rate p.a.
Interest-free period
Up to 55 days on purchases
Cash advance rate p.a. 21.99%
Min credit limit $6,000
Max credit limit $25,000
Card type Visa


Available to temporary residents No
Minimum income $40,000
Joint application No


Rewards program HSBC Rewards Plus
Bonus points N/A
Rewards points per $ spent 1.5
Rewards points cap 120,000


Annual fee
$0 first year ($149 after)
Minimum monthly repayment 3% of the closing balance or $20, whichever is greater
Late payment fee $30
Foreign currency conversion fee
Cash advance fee 3% or $4, whichever is greater
Overseas cash advance fee 3% of transaction amount or $4 (whichever is greater)
Additional cardholder fee $0

How to apply

It takes about 10 minutes to apply for the HSBC Platinum Credit Card online through the bank's secure application page. To get started, make sure you meet the eligibility requirements and have the key documents and details needed for the application.

Eligibility criteria

  • Balance transfer. If you want to take advantage of the balance transfer promotion, you can transfer up to 90% of your available credit limit from non-HSBC credit cards issued in Australia. You also need to request the balance transfer when you apply.
  • Minimum income. You must earn at least $40,000 per year to apply for this card.

Card benefits

  • Balance transfer offer. You'll get 0% p.a. on balance transfers for the first 12 months when you apply, get approved and have requested a balance transfer at the time of the application. There is a one-time 2% balance transfer fee with this offer. And any remaining balance at the end of the promotional period will attract interest at the cash advance rate, currently 21.99% p.a.
  • First-year annual fee waiver. You'll get a $0 annual fee for the first year, which reverts to $149 p.a. after that.

Rates & fees

  • Annual fee. Outside of any promotions, this card charges a standard annual fee of $149 p.a. You can also add an additional cardholder at no extra cost.
  • Purchase rate. The variable purchase interest rate for this card is 19.99% p.a.

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January 15, 2024

I have got a HSBC Platinum card for many years, with the complimentary international travel insurance included with this card, do I need to get extra insurance cover when I go for a holiday on a cruise ship please? I have paid 100% the cost of the cruise on this card.


Sarah Megginson Finder

February 14, 2024

Hi Tai,

After reviewing the PDS for this card, I can see a couple of things relating to cruises.

– There is a limit of A$3,000 of coverage for reasonable costs of arranging alternative public transport in order to attend a special event such as a pre-paid cruise.

– There may be some coverage if a special event (such as a cruise) has been cancelled or postponed for reasons beyond your expectations or control;

– If you sustain an injury, the included insurance does not cover treatment if the injury is sustained on a trip while on a cruise ship.

If you wish to clarify further with the insurers directly, you can contact Allianz Global Assistance (AGA) on 1800 648 093.

Best of luck!

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November 29, 2023

Hi, I had HSBC Platinum credit card few months back for last 5-6 years. Which has annual fee $99 but if i spend more than $6000 in a year, my annual fee will be return back to me. Can i get the same card with same facility please? Thanks


Amy Bradney-George Finder

December 05, 2023

Hi Ravindra,

The annual fee waiver you’re referring to may have been on a previous credit card that’s no longer on the market. Currently, the HSBC Platinum Credit Card has an annual fee (outside of promotions) regardless of how much you spend each year. If you have questions about the account you cancelled, you may want to contact HSBC directly on 132 152. Alternatively, Finder’s guide to no annual fee credit cards includes a comparison table and further details about different $0 annual fee options. I hope this helps.

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Jean West

May 20, 2023

The two complitmentary lounge passes, can they be used at any airport

Thank You


Amy Bradney-George Finder

May 23, 2023

Hi Jean,

These lounge passes can be used at airports around the world through the LoungeKey network of lounges. It’s more common to find lounges in the international terminals than domestic terminals but the LoungeKey website and app do have a search tool. For example, when I checked there were lounge options at Sydney (SYD), Melbourne (MEL), Singapore (SIN), Heathrow (LHR) and San Francisco (SFO). Finder also has a guide on LoungeKey and credit cards with more details. I hope that helps.

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February 21, 2023

I wish to apply for the HSBC Platinum Credit Card with an annual fee of $129. The combined income of my wife and myself is under $50K. I would like to chat with someone at HSBC but cannot find a phone number.


Amy Bradney-George Finder

February 24, 2023

Hi Ann,

HSBC’s contact number for new accounts is 1300 131 605.



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