HSBC Platinum Credit Card – Bonus Points Offer

Last updated: Nov 5, 2020

Collect 84,000 bonus Rewards Plus points with a new HSBC Platinum Credit Card.

The HSBC Platinum Credit Card earns 2 Rewards Plus points per $1 spent on overseas purchases and 1 point everywhere else. On top of that, you’ll also get 84,000 bonus points when you apply, get approved and spend $3,000 on eligible purchases within the first 90 days.

This card also gives you access to platinum benefits, including complimentary travel insurance, 2 yearly airport lounge passess, plus a range of exclusive dining, entertainment and travel offers through the Visa Offers + Perks.

84,000

Bonus points

19.99% p.a.

Purchase rate

Reward point

Per $ spent

$129 p.a.

Annual fee

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Details

Product Name	HSBC Platinum Credit Card - Bonus Points Offer
Rewards program	HSBC Rewards Plus
Purchase rate	19.99% p.a.
Annual fee	$129
Interest-free period	55 days
Cash advance rate	21.99% p.a.
Min credit limit	$6,000
Card type	Visa
Foreign currency conversion fee	3%

Minimum income	$40,000
Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

84,000 bonus points offer
Includes complimentary travel and purchase protection insurances
2 complimentary lounge passes per year through LoungeKey

Cons

Charges a 3% foreign transaction fee
Points are capped at 10,000 per statement period.

Rewards program	HSBC Rewards Plus
Bonus points	84,000
Rewards points per $ spent	1
Rewards points cap	10,000

Annual fee	$129
Minimum monthly repayment	3% of the closing balance or $20, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3%
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

Expert review

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The HSBC Platinum currently boasts 84,000 bonus Rewards Plus points when you meet the spend requirement. To give you an idea of the value of this offer, that’s enough points for $350 worth of Woolworths Supermarket e-Gift cards (one $250 card for 60,000 points and one $100 card for 24,000 points).

This card also rewards you with 2 airport lounge passes every year and complimentary insurances on both domestic and international travels.

How to apply

If you've compared your options and decided that this offer is right for you, you can complete a secure application online. It should take 10 minutes to complete and you'll receive a response in 60 seconds. Before you apply, make sure you've met the eligibility requirements and have the necessary documents and information on hand.

Eligibility criteria

Minimum income. You must earn at least $40,000 per year.
Residency. You must be an Australian resident. If you are not a permanent resident, you must hold a current 457 long-stay business visa.

Credit history. You must have a good credit rating. You can check your credit score and get your comprehensive credit report for free through Finder.
Age. You must be at least 18 years of age.

Required documents

Personal details. This includes your full name, email address, residential address, date of birth, driver's licence number, marital status, number of dependents and contact number.
Employment details. This includes your job title, salary, length of employment, your employer's contact details and recent payslips.
Financial details. This covers any other assets, such as shares or savings, as well as existing debts, loans and liabilities. You'll also need to share details of your household expenses such as rent, mortgage payments, bills and groceries.

Card benefits

Bonus points offer. Receive 84,000 bonus Rewards Plus Points when you apply as a new Rewards Plus customer, get approved and spend $3,000 on eligible purchases within the first 90 days. The points will be credited to your account within 60 days of the spend requirement being met.
Airport lounge passes. Travel comfortably with a LoungeKey membership that gives you two, single-use airport lounge passes every year.

Rewards points per $1 spent. Earn 1 reward point per $1 spent on eligible domestic purchases and 2 HSBC Reward Points per $1 spent overseas. Points can be redeemed for cashback on your card, merchandise and travel and accommodation through HSBC Travel Rewards. Alternatively, you can convert your reward points to Velocity Frequent Flyer points, with 2 Reward Points equals to 1 Velocity Point.
Complimentary insurances. This card also gives you access to complimentary international travel insurance when you pay for at least 90% of your overseas return travel ticket with your HSBC Platinum credit card. You can also make use of complimentary transit accident insurance, purchase protection insurance, extended warranty cover and guaranteed pricing insurance.
Instant Savings. This card includes free membership to Frequent Values by Entertainment Publications. Get access to over 4,500 offers from participating restaurants, supermarkets, hotels and more across Australia and New Zealand.
Mobile payments. Make contactless payments with your eligible device if you add this card to your Apple Pay and Google Pay wallet.

Rates & fees

Annual fee. This card charges a standard annual fee of $129 p.a. You can add additional cards for family or friends for $0.
Purchase rate. The HSBC Platinum card charges a variable interest rate of 19.99% p.a. on purchases.

Cash advance rate. If you make a cash withdrawal or cash-equivalent transaction, you will be charged interest at 21.99% p.a.
Interest-free days. Get up to 55 days interest-free on purchases when you pay your account in full (excluding any balance transfer, cash transfer and promotional purchases) each statement period.
Currency conversion rate. If you use the card overseas or with an international online retailer, you will be charged 3% of the Australian dollar transaction value.

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287 Comments

George
July 30, 2019

What is a loungeKey access? can you access Qantas lounge for example

Nikki
July 30, 2019

Hi George,

Thanks for your question. The Loungekey is a membership that gives you access to more than 850 lounges in over 400 airports worldwide, as well as dining, spa and retail offer from select exclusive airport merchants. As per my search, Qantas doesn’t have a direct partnership with Loungkey. To check the list further, you can download the Loungkey app to search for the lounges partnered with Loungkey.

Hope this helps!

Best,
Nikki

Steve
February 20, 2019

Hi,

“Please note that since this card offers a 22 months 0% balance transfer rate, the 55 days 0% free interest days is not applicable until the end of the balance transfer period.”

My question is, how many days do you get to pay off any extra purchases on the card to prevent getting charged any interest if you have a balance transfer on the card?

finder Customer Care

Jeni
February 21, 2019

Hi Steve,

Thank you for getting in touch with Finder.

Please note that credit card repayments are allocated based on the portion of your balance that attracts the highest interest rate. As per this HSBC review page, you receive up to 55 days interest-free when you make a purchase on the card and you pay your account in full each month. Your purchases outside the balance transfer has up to 55 days interest-free provided that you satisfy the conditions of interest free based on rest of the balances. You may pay the purchases balance off once you got the statement or before its due date.

You may also use this page as guide on managing your new purchases on your credit card with a promotional balance transfer.

I hope this helps.

Thank you and have a wonderful day!

Cheers,
Jeni

geoff
June 16, 2018

what amount has to be spent on this credit card to validate travel insurance?

Arnold
June 16, 2018

Hi Geoff,

Thanks for your inquiry

You will receive international travel insurance cover when you pay for at least 90% of your overseas return travel ticket with your HSBC Platinum credit card. The cover can be extended to your spouse and dependents if they also meet the 90% return ticket payment requirement. Please note that the spouse and dependents must be traveling with you for the entire journey to be eligible for the complimentary insurance

Hope this information helps

Cheers,
Arnold

LW
May 10, 2018

If I do a balance transfer on an amount am I right in saying I will only pay interest on anything else purchased on that card but not the balance transfer amount? (keeping in mind I must pay off the balance transfer amount before the end of the 0% free period)

Nikki
May 11, 2018

Hi LW,

Thanks for your message and for visiting finder.

Yes, you are correct. The interest rate of HSBC Platinum credit card is 19.99% and is applied to the purchases made on the card and not the balance transfer amount.

Please note that since this card offers a 22 months 0% balance transfer rate, the 55 days 0% free interest days is not applicable until the end of the balance transfer period.

Hope this clarifies.

Cheers,
Nikki

Zak
October 5, 2017

Is there Master or Visa card with no capped award points and can I pay my business supplier accounts and earn points?

Liezl
October 6, 2017

Hi Zak,

Thanks for your question.

The credit cards listed on this page will earn you points when paying your business expenses. Some of these business cards offer uncapped points. You can find this information by clicking the “More Info” link and refer to Rewards Program section.

I hope this helps.

Cheers,
Liezl

Phil
August 22, 2017

For credit card application stating:

Eligibility criteria
Earn more than $40,000 p.a.

Does the word ‘Earn’ include regular payments from a private pension, eg payments from an account based pension shown in an ATO PAYG payment summary form? Or is it restricted to regular payments for labour performed during a recent time period, ie the previous week or month shown in a payslip?

finder Customer Care

Rench
August 22, 2017

Hi Phil,

Thanks for reaching out to us. Please note that we are not affiliated with HSBC or any company we feature on our site and so we can only offer you general advice.

Yes, it also includes private pensions/payments. You may inquire this further with HSBC to confirm the information.

Please click on the ‘Go to Site’ button to submit an online application and youmay contact HSBC Support from there.

Best regards,
Rench

darren
May 16, 2017

Hi.
I have read most of the questions and answers regarding eligible purchases, and note that government bills are not included, but what about electricity, insurance etc. and fuel?

Thanks
Darren

finder Customer Care

May
May 16, 2017

Hi Darren,

Thanks for reaching out.

As stated in the fine prints of the HSBC Platinum Card, eligible purchases exclude interest-free promotions, balance transfers, business expenses, cash advances, fees or charges, any disputed transactions, BPAY and any government fee or charge.

So if you are paying your electricity, fuel and insurance (only personal and not as a business expense) directly through the provider, you may earn points for those transactions. Otherwise, if you pay these through BPAY, you won’t earn points.

Cheers,
May

karina
April 27, 2017

Just wanting to clarify the 55 day interest free period if I make purchases before my balance transfer 0% period ends. If I pay the balance of my monthly purchases off at the end of the month, after the statement is issued, will I incur interest on my purchases?

finder Customer Care

Harold
May 1, 2017

Hi Karina,

Thank you for your inquiry.

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.

I hope this information has helped.

Cheers,
Harold

Tom
April 24, 2017

Does bill paying of rates etc covered as eligible payments

Liezl
April 25, 2017

Hi Tom,

Thanks for your question.

Council rates, which are government fees or charges are not considered as eligible purchases. Other excluded purchases are interest-free promotions, balance transfers, business expenses, cash advances, fees or charges and any disputed transactions.

I hope this helps.

Kind regards,
Liezl

Henry
April 18, 2017

Hi
For the HSBC Platinum Visa Credit card, is there a fee to convert my reward points to Velocity frequent flyer points?
Henry

finder Customer Care

Harold
April 26, 2017

Hi Henry,

Thank you for your inquiry.

Should you need to know more on how to transfer your credit card rewards to your frequent flyer program please consider visiting this page.

I hope this information has helped.

Cheers,
Harold

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HSBC Platinum Credit Card – Bonus Points Offer