womaninred_creditcard_Shutterstock

HSBC credit card FAQs

Learn how to apply for an HSBC credit card, manage your account and maximise reward options with these frequently asked questions.

HSBC credit cards in Australia cater for a wide variety of people, with low rate, frequent flyer and premium credit cards available. Depending on when you apply, you could also enjoy competitive introductory rates and sign-up bonus point offers with a new HSBC credit card. Here, you can find answers to the most common questions about HSBC credit cards, including the application process, balance transfers and rewards options. We also look at HSBC credit card features and common questions about managing your HSBC credit card if you’re already a customer.

HSBC credit card comparison

Rates last updated October 20th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
$99 p.a.
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
HSBC Platinum Qantas Credit Card
19.99% p.a.
0% p.a. for 6 months
$199 p.a.
Receive 60,000 bonus Qantas Points when you meet the spend requirement and earn up to 1 Qantas Point per $1 spent.
HSBC Low Rate Credit Card
13.25% p.a.
0% p.a. for 15 months with 2% balance transfer fee
$55 p.a.
Receive up to 55 days interest-free on purchases. Also enjoy exclusive offers with the home&Away Privilege Program.
HSBC Premier World Mastercard
19.99% p.a.
5.99% p.a. for 6 months
$0 p.a.
Offers a choice of either HSBC Rewards Plus or HSBC Qantas Rewards programs and complimentary travel insurance.
HSBC Corporate Card
19.99% p.a.
$129 p.a.
Offers online access to reporting through Visa IntelliLink, complimentary travel insurances and the ability to set individual spend limits.

Compare up to 4 providers

Common questions about HSBC credit cardsHSBC-logo

The following sections cover FAQs based on common cardholder topics:

Applying for an HSBC credit card

While eligibility requirements vary between cards, the main requirements involve:

  • Age. You must be 18 years or older to apply for an HSBC credit card.
  • Residency status. You must be an Australian citizen or Permanent Resident to apply.
  • Minimum income. You need to meet the minimum income requirement stipulated for the card of your choice. This is $20,000 for the HSBC Low Rate Credit Card and $40,000 for the HSBC Platinum Credit Card or HSBC Platinum Qantas Credit Card.
  • Credit history. Your credit history and credit score must typically be very good or excellent.

These are typically some of the relevant documents you will need for proof of:

  • Identification. You may need to present your passport, Australian or international driver’s licence, or other proof of address for verification purposes.
  • Employment. You will usually be asked to provide recent payslips, but may also be able to submit your tax returns as evidence of income.
  • Financial information. You may furnish bank statements as supporting documentation, or furnish other relevant documents to prove listed assets.

While online applications may receive an instant response, it can take up to 10 working days for your HSBC credit card application to be processed and for your card to reach you.

Contact the HSBC Customer Service Centre at 132 152 (or +612 9005 8511 if calling from overseas), or drop in at a local HSBC branch. If you’re an HSBC Premier customer, you can also call the HSBC Premier Centre on 1300 301 168.

Sometimes, your credit card application may be denied for more obvious reasons than others. Perhaps you haven’t met all the eligibility requirements stipulated by the credit card provider, or perhaps your credit report was less than perfect. Check our guide on declined credit card applications and learn tips for improving your future chances of approval.

If you wish to get more information from HSBC, you could also call 132 152 to discuss your particular case and seek their advice directly.

HSBC balance transfers

To be eligible for a balance transfer offer, you must be a new HSBC customer applying for your new card within the promotional period. The balance transfer request must also be made at the time of applying for your new card. HSBC allows you to transfer existing balances from other non-HSBC credit cards and store cards, and you may request to transfer multiple balances.

This needs to be done during the application process for your credit card. You will need to provide relevant information including details of your existing debt(s), your account name and number, your existing financial provider and their BSB number. See our guide on how to ensure your balance transfer application is successful.

If your balance transfer amount hasn’t been fully repaid at the end of the promotional period, any remaining balance will attract the standard variable cash advance interest rate for that card.

Following credit card reforms in Australia, HSBC allocates your repayments so that they pay off the portion of your balance with the highest interest rate first, followed by the portion with the next highest interest rate and so on. This means that when you have a low promotional balance transfer rate, your repayments will usually be allocated to purchase transactions and other cash advance transactions before any remainder is used to offset your balance transfer.

HSBC rewards

Enjoy the perks and privileges of the HSBC Rewards Plus program when you get an HSBC Platinum or Premier credit card. Earn 1 Reward point per $1 spent with the HSBC Platinum Credit Card or 1 Qantas Point per $1 spent with the HSBC Platinum Qantas Credit Card. The HSBC Premier World Mastercard lets you choose between the HSBC Rewards or Qantas reward programs.

HSBC Rewards points expire three years after their issue date. You will be alerted of any expiring points in your account statement.

To earn and redeem Qantas Points, you will need to provide HSBC with your Qantas Frequent Flyer membership number. If you’re a new frequent flyer looking to freshly enrol in the Qantas program, you may join the program free of charge via HSBC instead of paying the standard joining fee of $89.50. This membership fee waiver is exclusively for HSBC credit cardholders choosing to opt-in to the HSBC Qantas rewards program.

HSBC credit card features

The HSBC Platinum Credit Card, HSBC Platinum Qantas Credit Card and HSBC Premier World Mastercard offer extended insurances for travel and purchases, including international travel insurance, transit accident insurance, purchase protection insurance, guaranteed pricing scheme and extended warranty insurance.

When using your HSBC credit card overseas, you should be aware of the currency conversion fee. This is 3% of the transaction value for all HSBC credit cards, except the HSBC Premier World Mastercard which charges a lower rate of 2%.

When withdrawing cash overseas, cash advance fees and ATM fees will also apply. HSBC credit cards charge a cash advance fee that is the higher of $4 or 3% of the total transaction amount. ATM fees vary depending on which local ATM vendor you use.

The following annual fees apply for HSBC cards:

Managing your HSBC credit card

You can activate your new HSBC credit card online or over the phone. To activate online:

  1. Log into your Internet banking account
  2. Select your credit card account
  3. Click on “Manage your account” then “Activate Card” and follow the prompts

Alternatively, call 132 152 (or +612 9005 8511 if calling from abroad) and follow these steps:

  1. Enter your card number
  2. Follow the prompts to register your account for automated banking services
  3. Select the card activation option and then follow the prompts to complete this process

You may change your PIN online via the HSBC Internet banking service:

  1. Log into your Internet banking account
  2. Select "Manage your account" from the menu
  3. Select “My Security" and then "Change my PIN"
  4. Follow the prompts to change your PIN

You can view your card statement any time by logging into your Internet banking account. Select your credit card account, then click “e-Statements” to review your card activity.

You can choose from the following options for making repayments on your HSBC credit card:

  • BPAY. Simply log into your Internet banking account and follow the instructions on how to set up a BPAY payment. The HSBC Biller Code is 17095 and your credit card account number is listed on your credit card statement. BPAY payments can take up to two business days to process and payments made after 6pm (EST) are only processed the next business day.
  • EasyPay. This is a service that provides regular, ongoing direct debit payments as per your instructions. With EasyPay, you can set the amount you’d like debited each month, with the option of a fixed monthly amount (e.g. $200), the variable monthly minimum repayment or the full repayment amount. EasyPay payments can take up to five business days to process.
  • HSBC Internet Banking. You will need to have an HSBC bank account and be registered for Internet banking to do this. Log in and select “Banking Services” and follow the prompts, or call HSBC on 132 152 (+612 9005 8511 if calling from abroad) or HSBC Premier on 1300 301 168 for assistance.
  • HSBC branch. Make cash, EFTPOS or cheque payments over the counter. Cash payments may take up to two business days to process and cheque payments may take up to seven business days to clear.
  • Bank@Post via Australia Post. You can make cash, EFTPOS or cheque payments over the counter at Australia Post for a service fee of $2.95. Cash payments may take up to two business days to process and cheque payments may take up to seven business days to clear.
  • Phone banking. Call HSBC on 132 152 (+612 9005 8511 if calling from abroad) or HSBC Premier on 1300 301 168 and follow the prompts. You will need a Personal Banking Number (PBN) and Access Code for phone banking.
  • Mail. You can send cheque payments through the mail to HSBC Credit Cards, PO Box 347, Artarmon, NSW 1570. Make sure to fill in your account number and payment amount and enclose the payment slip with your cheque. Cheque payments can take up to seven business days to process upon receipt.

You can visit an HSBC branch, engage the bank’s “Live Chat” service on its website, use Twitter or call their credit card team on 132 152 (or +612 9005 8511 if calling from abroad).

When considering an HSBC credit card, be sure to research and compare all available promotions and options before choosing the most suitable card for your personal spending and lifestyle needs. If you have any other questions, feel free to get in touch with us using the “Ask a Question” form below, or contact HSBC directly for more specific information on individual credit card accounts.

Picture: Shutterstock

Back to top

Amy Bradney-George

Amy is a Senior Writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

Was this content helpful to you? No  Yes

Related Posts

NAB Premium Card - Exclusive Offer
NAB Premium Card - Exclusive Offer

Interest rate

19.74

Annual fee

90
ANZ Platinum Credit Card - Exclusive Offer
ANZ Platinum Credit Card - Exclusive Offer

Interest rate

19.74

Annual fee

87
St.George Vertigo Platinum
St.George Vertigo Platinum

Interest rate

12.74

Annual fee

99

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

2 Responses

  1. Default Gravatar
    ridleySeptember 29, 2012

    Is it possible to provide some more detail about what’s required to complete the application process? I don’t want to start a process and find half way through that I don’t have all the information required at hand.

    • Staff
      JacobOctober 2, 2012Staff

      Hi Ridley. Thanks for your question. You will need to provide the following information to complete a credit card application: a drivers licence, information about your assets and liabilities, previous pay slips from your employer and if you have been employed for under three months, you may be asked to provide a referral letter from your employer.

Ask a question