HSBC Platinum Credit Card – Balance Transfer Offer

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Save money with 0% interest on balance transfers for 26 months and a waived annual fee for the first year.

Winner of the 2020 Finder Award for Best Balance Transfer Credit Card, the HSBC Platinum gives you access to premium perks, including airport lounge passes, a personal concierge, complimentary insurance & rewards.

0% p.a.

Balance transfer rate

for 26 months with 1% balance transfer fee

19.99% p.a.

Purchase rate


Reward point

Per $ spent

$0 p.a.

Annual fee

for the first year ($129 p.a. thereafter)

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Product NameHSBC Platinum Credit Card - Balance Transfer Offer
Rewards programHSBC Rewards Plus
Balance transfer rate0% p.a. for 26 months with 1% balance transfer fee
Balance transfer revert rateCash Advance Rate (21.99% p.a.)
Balance transfer limit90% of available limit
Purchase rate19.99% p.a.
Annual fee$0 annual fee for the first year ($129 p.a. thereafter)
Interest-free period55 days
Cash advance rate21.99% p.a.
Min credit limit$6,000
Card typeVisa
Foreign currency conversion fee3%
Minimum income$40,000
Available to temporary residentsYes - Conditions apply
Joint applicationNo


  • 0% p.a. on balance transfers for 26 months
  • 2 airport lounge passes every year
  • Includes complimentary travel and purchase protection insurances


  • Balance transfer has a one-time balance transfer fee, and reverts to a relatively high 21.99% p.a. cash advance rate
  • Charges a 3% foreign transaction fee
  • Points are capped at 10,000 per statement period.
Rewards programHSBC Rewards Plus
Rewards points per $ spent1
Rewards points cap10,000
Annual fee$0 annual fee for the first year ($129 p.a. thereafter)
Minimum monthly repayment3% of the closing balance or $20, whichever is greater
Late payment fee$30
Foreign currency conversion fee3%
Cash advance fee3% or $4, whichever is greater
Overseas cash advance fee3% of transaction amount or $4 (whichever is greater)
Additional cardholder fee$0

Expert review

Sally McMullen

Review by

Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The HSBC Platinum is a rewards card currently offering an interest-free balance transfer period of 26 months, which is one of the longer introductory periods on the market. Although it charges a 1% balance transfer fee, you can still minimise your overall account costs with the $0 first-year annual fee.

How to apply

If you've compared your options and decided the HSBC Platinum Credit Card 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 to apply for this card.
  • Balance transfer. If you're planning to take advantage of the balance transfer promotion, you can transfer up to 90% of your available credit limit from non-HSBC credit and store cards and you must request the transfer upon application.

Card benefits

  • 0% balance transfer offer. Apply and get approved to get a 0% p.a. interest rate on balance transfers for the first 26 months, with a one-time 1% balance transfer fee. Any remaining balance at the end of the promotional period will attract interest at the cash advance rate (currently 21.99% p.a.). There's no specified expiry date for this offer, but HSBC may change or end it at any time.
  • First-year annual fee waiver. Save with $0 annual fee for the first year, reverting to $129 p.a. thereafter.

Rates & fees

  • Annual fee. Outside of any promotions, 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.

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    Default Gravatar
    March 4, 2020

    Does this card allow for balance transfer from a car loan?

      Default Gravatar
      March 5, 2020

      Hi Addie,

      Thanks for your comment.

      I understand you want to know if the HSBC Platinum credit card allows balance transfers from a car loan.

      No, the card only allows balance transfers from other non-HSBC credit cards. As car loans are considered personal loans for vehicle financing, there are other credit cards that allow this and you can find your options HERE.. On the page, you will find credit cards from Virgin, Citi, Coles, and Qantas. To help you compare, card features such as balance transfer rate, purchase rate are indicated in the table. When you’ve decided which card to go for, click the green GO TO SITE button to go straight to HSBC’s webpage. Tips on how to compare cards are also available for you on the page.

      Also, check with your car loan provider and your loan policy for guidelines on balance transfers. To add, check the Product Disclosure statement and Terms and Conditions of the credit card before you lodge your application.

      Hope this helps and feel free to reach out to us again anytime.

      Best regards,

    Default Gravatar
    October 7, 2019

    Hi, Will I get the airport passes and travel insurance if I don’t pay my trip/flights with this card?

      Avatarfinder Customer Care
      October 8, 2019

      Hi Kristin,

      Thank you for your comment.

      Unfortunately, you will become ineligible for the complimentary travel insurance and airport lounge pass if you do not use the participating card to purchase your return ticket.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.


    Default Gravatar
    September 24, 2019

    If I transfer my current credit card debt and say I don’t use the card at all for 22 months, but just pay the minimum (or 22 equal instalments to cover the amount owing), am I correct to assume that I will pay no additional interest at all and only the annual fee? However, if/when I use the card, I will only pay interest on the new purchases, unless I pay off the full amount of any new purchases within 55 days. Is that correct?

      Default Gravatar
      September 26, 2019

      Hi Dan,

      Thank you for contacting Finder.

      Yes, you are correct. If you will not be using the HSBC Platinum Credit Card for other transactions other than the Balance Transfer, then you will not be accruing any other interests and will be paying the Annual Fee on your anniversary date.

      For you to take advantage of the 55 days interest-free, you do not necessarily need to pay the whole amount of the purchase but at least the closing balance on the last billing statement on/ before the due date.

      I hope this helps.

      Please do not hesitate to reach out again if you have additional questions.


    Default Gravatar
    August 21, 2019

    When they say annual fee of $129 will be refunded if we use $6000 each year, how is that even possible? If I do balance transfer, any purchase that I make will attract interest from day 1. There is no 55 days interest free period. This is a big catch here. Please correct me if I am wrong.

      Default Gravatar
      August 22, 2019

      Hi Muhammad,

      Thanks for your question! You’re correct. This card charges a standard $129 annual fee on the anniversary of the account opening date each year. When you spend $6,000 on eligible purchases in the following 12 months, the annual fee will be refunded.

      Note that eligible purchases exclude interest-free and other promotions, balance transfers, cash transfers, business expenses, cash advances, fees and charges, any disputed transactions and government fees and charges.

      Depending on when you make your purchases, or when your statement is issued, the 55 days interest-free period only applies if you pay off the outstanding balance on your next statement of account on or before the due date. There are no interest free days for cash advances. You will not gain the benefit of the interest free period unless you pay the full balance (excluding any balance transfer, cash transfer and promotional purchases) by the due date.

      Hope this helps!


    Default Gravatar
    August 4, 2019

    Can the balance transfer be done to personal savings account or cheque be issued on personal name?

      Default Gravatar
      August 6, 2019

      Hi Krish,

      Thank you for contacting Finder.

      No, Balance Transfer can only be between a Personal Loan/ Credit Card to Credit Card. You may read this page to know more on how Balance Transfer works.

      I hope this helps.

      Please do not hesitate to reach out again if you have additional questions.


    Default Gravatar
    July 23, 2019

    Is there the ability to add an additional card holder. If so, does this cover them for travel insurance

      Default Gravatar
      July 24, 2019

      Hi Julie!

      Thanks for your message. Yes, the HSBC Platinum Credit Card allows for additional cards for family or friends for $0. Also, as per the terms and conditions of the HSBC Platinum Visa Credit Card cardholders are eligible for Travel Insurance Program provided that the entire fare of the travel ticket is charged on the customer’s HSBC Platinum Visa Credit Card.

      The insured person/s are:
      • All Primary or Supplementary Cardholders below 75 years old.
      • Legally married spouse below 75 years old
      • Dependent child under age 24 of any eligible person described.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.


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