HSBC Low Rate Credit Card

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Save with a low ongoing purchase interest rate, 0% on balance transfers for 20 months and access to HSBC Instant Savings.

The HSBC Low Rate is designed to help you cut credit card costs. It charges competitive rates and fees and offers up to 60 months interest-free at over 1,000 select retailers.

0% p.a.

Balance transfer rate

for 20 months with 2% balance transfer fee

12.99% p.a.

Purchase rate

$99 p.a.

Annual fee

55 days

Interest free period


Product NameHSBC Low Rate Credit Card
Balance Transfer Rate0% p.a. for 20 months with 2% balance transfer fee
Balance Transfer Revert RateCash Advance Rate (21.99% p.a.)
Balance Transfer Limit90% of available balance
Purchase Rate12.99% p.a.
Annual Fee$99
Interest Free Period55 days
Cash Advance Rate21.99% p.a.
Minimum Credit Limit$1,000
Card TypeVisa
Foreign Currency Conversion Fee (Visa/Mastercard)0%
Complimentary Travel InsuranceNo
Minimum Income$40,000
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Joint ApplicationNo


  • You can enjoy a 0% p.a. for 20 months offer on balance transfers.
  • This card also comes with a complimentary domestic travel insurance.
  • Receive up to 55 days interest-free on purchases.


  • Balance transfer rate reverts back to a high cash advance rate at 21.99% p.a.
  • There is no rewards program for this card, which means you cannot earn reward points for spending.
Annual Fee$99
Minimum Monthly Repayment3% of the closing balance or $30, whichever is greater
Late Payment Fee$30
Foreign Currency Conversion Fee (Visa/Mastercard)0%
Cash Advance Fee3% or $4, whichever is greater
Additional Cardholder Fee$0

Expert review

Sally McMullen

Review by

Sally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.

Expert review

This card currently offers a long-term balance transfer offer, which could help you reduce your interest costs. However, make sure to factor in the one-time 2% balance transfer fee and annual fee (which you’ll pay twice before the 20-month balance transfer offer ends).

How to apply

You can apply for the HSBC Low Rate credit card online in minutes and can receive approval within 60 seconds. Before you begin your application, make sure you meet the eligibility requirements and have the necessary information ready.

Eligibility criteria

  • Minimum income. Applicants must earn a minimum of $40,000 per year before tax.
  • Residency. You must be an Australian citizen or permanent resident.

Card benefits

  • Balance transfer offer. New cardholders who request a balance transfer at application will enjoy an introductory interest rate of 0% p.a. for a period of 20 months (with a 2% balance transfer fee). This will revert to the variable cash advance rate which is 21.99% p.a. and this rate is subject to change. Offer ends 31 December 2019.
  • In-store finance. If you shop with participating retailers, you could pay off your purchase with 0% interest for 3 to 60 months depending on the offer. Please note that minimum purchase and conditions apply. You can view the full list of the 1,000 participating retailers on the HSBC website.

Rates & fees

  • Annual fee. This card charges a $99 p.a. annual fee.
  • Purchase interest rate. This card charges a competitive interest rate of 12.99% p.a. on purchases.

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  1. Default Gravatar
    June 27, 2017

    Hello I am Richard, and I want credit card how much it’ll cost for I to buy. Not expensive no chip.

    • AvatarStaff
      June 27, 2017

      Hi Richard,

      Thanks for your question.

      When you say credit card cost, do you mean annual fee? If so, that will vary depending on the credit card. If you want to check the credit cards with no annual fee, you can find them here.


  2. Default Gravatar
    May 30, 2017

    i would like to get a credit card

    • AvatarStaff
      May 30, 2017

      Hi Janey,

      Thank you for your inquiry.

      When deciding to get a credit card, it’s always useful to consider the purpose of the credit card. Also, you’d need to factor in how you will use it and how these tie into your financial situation.

      If you are interested in applying for the HSBC Low Rate Credit Card, you can do so for as long as you meet all the eligibility criteria of that card. You can find the eligibility requirements for this one above under “How to apply for the HSBC Low Rate Credit Card”.

      In case you’d want to compare other credit cards in the market, you can also refer to this page.

      Hope this helps.


  3. Default Gravatar
    May 25, 2017

    Hi guys i want to consolidate my 2 cr cards from suncorp an st george is this possible with ur 0% transfer to HSBC ?
    Cheers Todd

    • Default Gravatar
      May 26, 2017

      Hi Todd!

      Thanks for the comment.

      Yes, you can transfer your credit card balance from Suncorp and St George to this HSBC Low Rate credit card so long that you meet the eligibility criteria and requirements of this card. Please also note that the total amount you can transfer should not exceed your approved credit limit.

      If you think you are eligible for this card, please click on the “Go to HSBC website” green button to proceed with your application.

      Kind regards,

  4. Default Gravatar
    May 14, 2017

    we have a st. george credit card and want to know if a balance transfer is possible? our query is if HSBC is independent to westpac, st. george and bank of melbourne?

    • AvatarStaff
      May 14, 2017

      Hi Linc,

      Thank you for your inquiry.

      Yes, transferring a balance to HSBC credit card from St. George is possible. You can successfully do that if you meet all the eligibility criteria and requirements of the HSBC credit card. If you are eligible and wish to apply for the HSBC Low credit card to take advantage of the 0% p.a. for 15 months (with 2% balance transfer fee) offer, please click on the “Go to site” button above.

      As for your second question, yes, HSBC is a different financial institution from Westpac Group that underwrites St. George, BankSA, Bank of Melbourne and Westpac credit cards. You can refer to this page for your guide on which bank you can balance transfer to/from.

      Hope this helps.


  5. Default Gravatar
    April 4, 2016

    HSBC has upgraded me to a Platinum card which I do not wish to have. How do I reverse back to the basic card?

    • AvatarStaff
      April 5, 2016

      Hi Cassy,

      Thanks for your question.

      You will need to contact HSBC on 132 152 to report the issue and to ask for your card to be reverted.

      I hope this has helped.



  6. Default Gravatar
    January 16, 2016

    Hi, i have account with Common Wealth bank. I have paid credit default. Can I apply for credit card or not. Common Wealth Bank declined for my credit card.

    • AvatarStaff
      January 20, 2016

      Hi Samron,

      Thanks for your question.

      You can apply for a credit card but just make sure that you meet the application requirements for that particular product. You may like to refer to the following link for a guide on how to get your credit card application approved.

      However, before you apply for another credit card, you may wish to speak with some credit card issuers directly to discuss your options and chances for acceptance, as each submitted application will appear on your credit history.

      I hope this helps.


  7. Default Gravatar
    November 20, 2015

    How does HSBCdefine cash advance

    • AvatarStaff
      November 20, 2015

      Hi Phil, thanks for your inquiry!

      HSBC summarises cash advances as the following definitions:

      (a) each amount of cash supplied by use of a card
      on your account or by any other operation of
      your account;
      (b) each payment made by a user to a person who
      does not accept or is not entitled to accept
      credit payments from your account or states
      that any payment to them will be processed as
      a cash advance or if you are using your card
      for gambling purposes or to purchase a cash
      substitute, and
      (c) each amount transferred from your account
      to any other account you have with us or any
      other person (for instance, to effect a balance



  8. Default Gravatar
    September 17, 2015

    I have an existing HSBC Credit card for which I pay a $59 Annual Charge but a new customer receives their credit card fee free should I cancel my credit card and reapply to save the charge.

    • AvatarStaff
      September 18, 2015

      Hi Phil,

      Thanks for you inquiry.

      Unfortunately, the $0 annual fee promotion is only available for new credit card applicants. You can cancel your credit card at any time you choose to, but you will need to wait 6-12 months prior to applying for another credit card account with HSBC.

      I hope this has helped.



  9. Default Gravatar
    September 7, 2015

    What is the maximum i can transfer over to a HSBC from another credit card?

    • AvatarStaff
      September 7, 2015

      Hi t, thanks for your inquiry!

      HSBC allows the full approved credit limit for balance transfers. Your approved credit limit will depend on HSBC’s lending requirements and their assessment of your application.



  10. Default Gravatar
    June 22, 2015

    I currently have an Ignite by Westpac credit card with $1,000 limit. Are you able to suggest a credit card that has a minimum $1,000 credit limit that will also give me Qantas Frequent Flyer Points?


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