HSBC Low Rate Credit Card

HSBC Low Rate Credit Card Find out more Go to site

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  • Clicking Go to site will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
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With the HSBC Low Rate Credit Card, you can enjoy a low ongoing interest rate on purchases and 0% p.a. on balance transfers for a period of 15 months.

The HSBC Low Rate Credit Card gives you access to a wide array of features. Cardholders get to enjoy 0% p.a. on balance transfers for the first 15 months. Plus shop at more than 1,000 participating retailers and pay 0% p.a. interest from 3 to 60 months on larger purchases. You can also access special privileges and instant discounts at more than 19,000 retailers with the home&Away Privilege Program.

Product NameHSBC Low Rate Credit Card
Balance transfer rate (p.a.)0% p.a. for 15 months with 2% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.99% p.a.)
Purchase rate (p.a.)13.25% p.a.
Offer end date31 August 2017
Annual fee$55 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.99% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Minimum Monthly Repayment3% or $30 whichever is higher
Minimum Income$20,000
Card TypeVisa
Late Payment Fee$30
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Income$20,000
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Annual Fee$55 p.a.
Minimum Repayment3% or $30 whichever is higher
Late Payment Fee$30
Over Limit Fee$30
Cash Advance FeeThe higher of $4 or 3.0% of the total transaction amount
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • You can enjoy a 0% p.a. for 15 months offer on balance transfers.
  • Receive up to 55 interest-free days on purchases.

Cons

  • A fee of $30 for late payments will be imposed.
  • 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.

HSBC Low Rate Credit Card review

This credit card can be used to facilitate purchases, payments and other transactions as well. Access exclusive shopping offers, both in Australia and overseas. With the home&Away Privilege Program, you can access special offers in over 19,000 retail outlets worldwide. Some of the card's exclusive benefits include $0 additional cardholder fees and interest-free purchases. Plus, you can repay your debt faster and cheaper with a balance transfer offer of 0% p.a. for a period of 15 months.

Benefits of the HSBC Low Rate Credit Card

  • Balance transfer offer. New cardholders will enjoy an introductory balance transfer rate of 0% p.a. for a period of 15 months (with a 2% balance transfer fee). This will revert to the normal cash advance rate which is 21.99% p.a. and this rate is subject to change.
  • Free additional cards. You can acquire multiple additional cards for your family members or even friends at no additional cost.
  • Up to 55 days interest-free purchases. New cardholders have 55 days of interest-free purchases. Just pay off your balance in full each statement period to enjoy this feature, including any promotion rate balances (ie. balance transfers).
  • home&Away Privilege Program. While there is no rewards program, you can enjoy good benefits with the home&Away Privileges Program.

Features of the HSBC Low Rate Credit Card

  • Interest-free purchases. Cardholders enjoy interest-free purchases up to 55 days. You get to save a lot with this feature since normal interest rates for cash advances with the card is 13.25% p.a. This feature is however only applicable in selected stores, but this includes over 1,000 participating outlets in Australia. Minimum purchases apply. All other purchases enjoy up to 55 days interest-free when you have no balance in full at the end of your statement period.
  • Special privileges. The home&Away Privilege Program is accessible to all cardholders and it comes with benefits such as exclusive offers in over 19,000 international retail outlets. Locally, exclusive shopping offers can be enjoyed in more than 1,500 Australian retailers. Note that special privileges can only be accessed in participating retailers so make sure that you check out the list of retailers near you.
  • Eligibility to Apple Pay. Enjoy a fast, easy and secure way of making contactless payments using your iPhone, Apple Watch and iPad. Learn more about the Apple Pay feature here.
  • Visa payWave system. This card comes with Visa payWave technology, so you can make contactless payments at participating merchants when you shop for less than $100.
ConditionWhat it means
0% p.a. balance transfer for 15 months from non-HSBC credit cards on application (reverting to the variable cash advance rate, currently 21.99% p.a.). A 2% balance transfer fee applies.You may transfer up to 3 balances from non-HSBC store cards, charge cards or credit cards upon application. If you have not paid off your balance within the promotional balance transfer period (0% p.a. for 15 months with 2% balance transfer fee), the remaining balance left will be paid off at 21.99% p.a.
~HSBC may allocate payments we receive from you to pay the total amount owing in any order we see fit including applying any and all payments made to your HSBC Low Rate Credit Card account to reduce the balance(s) transferred first and then to any subsequent purchases.These are typical conditions of credit cards with interest-free periods.
^ Depending on when you make your purchase, when your statement is issued and whether or not you are carrying forward a balance on your account from the previous statement period. There are no interest-free days for cash advances or balance transfers.Check your date of signup to know when you need to repay. Keep this in your diary as a point of reminder. Cash advances don't have interest-free days, so potentially consider an alternative option for cash advances.

How to apply for the HSBC Low Rate Credit Card

If you’d like to apply for the HSBC Low Rate Credit Card, you can start the online application process. The following eligibility requirements apply.

Eligibility criteria

  • The minimum income requirement is $20,000 p.a.
  • You must be at least 18 years old and an Australian resident or citizen.
  • This credit card is not eligible to just any applicant; you need to have a good credit card rating.
  • The lowest credit card limit you can get with this credit is $1,000.

Required documents

  • You'll need to provide proof of ID such as your Driver’s license number or passport.
  • You may be asked to provide proof of income such as pay slips and bank statements.
  • The application may also require that you provide information regarding any assets or existing debts.

The HSBC Low Rate Credit Card has competitive features, including the main benefit long-term balance transfer offer. Before you can take up the card, compare other similar cards offered by HSBC. Are you interested in earning Qantas frequent flyer points with the HSBC Qantas Platinum Credit Card instead? Find out more about the HSBC Qantas Platinum Credit Card here.

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494 Responses

  1. Default Gravatar
    RichardJune 27, 2017

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

    • Staff
      MayJune 27, 2017Staff

      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.

      Cheers,
      May

  2. Default Gravatar
    JaneyMay 30, 2017

    i would like to get a credit card

    • Staff
      MayMay 30, 2017Staff

      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.

      Cheers,
      May

  3. Default Gravatar
    ToddMay 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

    • Staff
      JonathanMay 26, 2017Staff

      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,
      Jonathan

  4. Default Gravatar
    LincMay 14, 2017

    we have a stgeorge creditcard and want to know if a balance transfer is possible? our query is if HSBC is independant to westpac, stgeore and bank of melbourne?

    • Staff
      MayMay 14, 2017Staff

      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.

      Cheers,
      May

  5. Default Gravatar
    CassyApril 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?

    • Staff
      SallyApril 5, 2016Staff

      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.

      Cheers,

      Sally

  6. Default Gravatar
    SamronJanuary 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.

    • Staff
      SharonJanuary 20, 2016Staff

      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.

      Sharon

  7. Default Gravatar
    philNovember 20, 2015

    How does HSBCdefine cash advance

    • Staff
      JonathanNovember 20, 2015Staff

      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
      transfer).

      Cheers,

      Jonathan

  8. Default Gravatar
    PhilSeptember 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.

    • Staff
      SallySeptember 18, 2015Staff

      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.

      Thanks,

      Sally

  9. Default Gravatar
    tSeptember 7, 2015

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

    • Staff
      JonathanSeptember 7, 2015Staff

      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.

      Cheers,

      Jonathan

  10. Default Gravatar
    CarlaJune 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?

    Thanks,
    Carla

Credit Cards Comparison

Rates last updated July 22nd, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Visa
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
13.24% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
Virgin Australia Velocity Flyer Card - Exclusive Offer
Apply by 31 July 2017 to earn bonus Velocity Points for the first three months and a $129 Virgin Australia Gift Voucher each year.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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