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HSBC Platinum Credit Card
Finder Award
Our verdict: HSBC's Platinum card has the longest 0% balance transfer period in Australia right now, giving you 36 months to pay off your debt interest-free.
The HSBC Platinum Credit Card can save you thousands of dollars in interest when you’re paying off credit card debt. The 3-year, 0% interest period gives you at least 6 extra months on your balance transfer compared to other cards, which offer 0% balance transfer rates for 6 to 30 months. Plus, there is no balance transfer fee and a super-low $29 annual fee for the first year.
0% p.a.
Balance transfer rate
for 36 months
19.99% p.a.
Purchase rate
1
Reward point
Per $ spent
$29 p.a.
Annual fee
for the first year ($129 p.a. thereafter)
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Details
| Product Name | HSBC Platinum Credit Card |
|---|---|
| Rewards program | HSBC Rewards Plus |
| Balance transfer rate | 0% p.a. for 36 months |
| Balance transfer revert rate | Cash Advance Rate (21.99% p.a.) |
| Balance transfer limit | 90% of available limit |
| Purchase rate | 19.99% p.a. |
| Annual fee | $29 annual fee for the first year ($129 p.a. 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 |
Pros
- 0% p.a. on balance transfers for 36 months (with no BT fee)
- 2 airport lounge passes every year
- Includes complimentary travel and purchase protection insurances
Cons
- Balance transfer 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 program | HSBC Rewards Plus |
|---|---|
| Bonus points | N/A |
| Rewards points per $ spent | 1 |
| Rewards points cap | 10,000 |
| Annual fee | $29 annual fee for the first year ($129 p.a. 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 |
Expert review
Review by
Amy Bradney-George
amy.bradney-george@finder.comAmy 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.
