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The HSBC Platinum Credit Card – Balance Transfer Offer is no longer available for new applications. We have kept the information on this page for the benefit of existing customers. You can compare the current range of HSBC credit cards here.
0% p.a.
Balance transfer rate
for 26 months with 1% balance transfer fee
19.99% p.a.
Purchase rate
1
Reward point
Per $ spent
$0 p.a.
Annual fee
for the first year ($129 p.a. thereafter)
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Product Name | HSBC Platinum Credit Card - Balance Transfer Offer |
---|---|
Rewards program | HSBC Rewards Plus |
Balance transfer rate p.a. | 0% for 26 months with 1% balance transfer fee |
Balance transfer revert rate | Cash Advance Rate (21.99% p.a.) |
Balance transfer limit | 90% of available limit |
Purchase rate p.a. | 19.99% |
Annual fee | $0 for the first year ($129 thereafter) |
Interest-free period | Up to 55 days on purchases |
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 |
Rewards program | HSBC Rewards Plus |
---|---|
Bonus points | N/A |
Rewards points per $ spent | 1 |
Rewards points cap | 10,000 |
Annual fee | $0 for the first year ($129 thereafter) |
---|---|
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 |
March 4, 2020
Does this card allow for balance transfer from a car loan?
March 5, 2020
Hi Addie,
Thanks for your comment.
I’m afraid that the HSBC Platinum credit 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. See our list of credit card accepting loan transfers. 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. When you are ready, press the ‘Go to site’ button to apply.
Hope this helps and feel free to reach out to us again anytime.
Best regards,
Nikki
October 7, 2019
Hi, Will I get the airport passes and travel insurance if I don’t pay my trip/flights with this card?
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.
Regards,
Jhezelyn
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?
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.
Cheers,
Ash
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.
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!
Best,
Nikki
August 4, 2019
Can the balance transfer be done to personal savings account or cheque be issued on personal name?
August 6, 2019
Hi Krish,
Thank you for contacting Finder.
No, a balance transfer can only be between a personal loan or credit card to a credit card. You can learn more about how a balance transfer works.
I hope this helps.
Please do not hesitate to reach out again if you have additional questions.
Cheers,
Ash