HSBC Platinum Qantas Credit Card
- 0% p.a. for 12 months on balance transfers
$0 annual fee for the first year
Offer ends 31 March 2019
Eligibility criteria, terms and conditions, fees and charges apply
Save with a $0 first year annual fee when you apply for the HSBC Platinum Qantas Credit Card before 31 March 2019.
The HSBC Platinum Qantas Credit Card offers a complimentary Qantas Frequent Flyer membership and earns up to 1 Qantas Point per $1 spent on eligible purchases made in Australia and overseas. This card gives you access to HSBC Instant Savings with a complimentary membership to Frequent Values, with over 4,500 offers to take advantage of when you use your card. It also offers platinum benefits including complimentary travel insurance, extended warranty cover and purchase protection insurance.
| Product Name | HSBC Platinum Qantas Credit Card |
|---|---|
| Rewards Program | Qantas Frequent Flyer |
| Balance transfer rate | 0% p.a. for 12 months |
| Balance transfer revert rate The interest rate that will apply to any remaining balance after the balance transfer term ends. | Cash Advance Rate (21.99% p.a.) |
| Balance Transfer Limit | 90% of available credit limit |
| Purchase rate (p.a.) | 19.99% p.a. |
| Offer end date | 31 March 2019 |
| Annual fee | $0 p.a. annual fee for the first year ($79 p.a. thereafter) |
| Interest Free Period The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date. | Up to 55 days on purchases |
| Cash advance rate (p.a.) | 21.99% p.a. |
| Min credit limit This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure. | $6,000 |
| Card Type | Visa |
| Foreign Currency Conversion Fee (VISA) Charged when you make a transaction that is converted by Visa from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution. | 3% of transaction value |
| Complimentary Travel Insurance | Yes |
| Minimum Income | $40,000 |
|---|---|
| Minimum Age | 18 years of age |
| Available To Temporary Residents | Yes - Conditions apply |
| Joint Application | No |
| Annual fee | $0 p.a. annual fee for the first year ($79 p.a. thereafter) |
|---|---|
| Minimum Monthly Repayment | 3% or $20 whichever is higher |
| Late Payment Fee | $30 |
| Foreign Currency Conversion Fee (VISA) Charged when you make a transaction that is converted by Visa from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution. | 3% of transaction value |
| Cash Advance Fee | The higher of $4 or 3.0% of the total transaction amount |
| Gambling Transactions Allowed | Yes |
| Additional Cardholder Fee | $0 |
Pros
- Save with a $0 annual fee for the first year.
- Take advantage of 0% p.a. for 12 months on balance transfers.
- Complimentary membership to the Qantas Frequent Flyer program saving you $89.50.
- This card offers a range of benefits including complimentary insurance covers for your peace of mind while abroad.
- Save money at participating merchants across Australia and New Zealand with the home&Away Privilege Program and HSBC Instant Savings.
Cons
- The spend threshold of $2,500 per statement period before the lower earn rate kicks in is relatively low.
| Rewards Program | Qantas Frequent Flyer |
|---|---|
| Rewards Points per $ spent (VISA/MC) | 1 |
| Rewards Points per $ (VISA/MC) Cap | 7,500 |
Benefits of the HSBC Platinum Qantas Credit Card
- $0 first year annual fee. Apply by 31 March 2019 and benefit from an annual fee waiver in the first year (reverts to $79 p.a. thereafter).
- Complimentary Qantas Frequent Flyer Membership. You need to be a Qantas Frequent Flyer member to earn Qantas Points with this card. So, if you’re not a member yet, HSBC offers Platinum Qantas Credit Card customers the opportunity to sign up via the Qantas website and enjoy complimentary Frequent Flyer membership (valued at $99.50).
- Qantas Points earn rate. Earn 1 Qantas Point per $1 spent on eligible purchases in Australia and overseas, up to $2,500 per statement period, with any remaining spending for that statement period earning 0.5 points per $1 spent. This is capped at 7,500 points per statement period.
- Balance transfer offer. The HSBC Qantas Platinum offers a 0% p.a. interest rate on balance transfers for up to 12 months with no balance transfer fee. You can transfer up to 90% of your available credit limit from non-HSBC credit cards issued in Australia. After the introductory period ends, any remaining balance will accrue interest at the cash advance rate, currently 21.99% p.a.
- Complimentary international travel insurance. When you're eligible, this card offers unlimited cover for hospital and medical expenses if you’re sick or injured, and up to $20,000 cover for personal belongings. Transit accident insurance is also an included benefit with this account. It provides financial compensation if you or your family suffer injury or death while travelling overseas as a passenger in a vehicle. The complimentary international travel insurance is automatically activated when you meet the policy eligibility requirements and purchase your return overseas travel ticket on your card.
- Instant Savings. Get a free membership to the Frequent Values program and access over 4,500 offers at participating partners across Australia and New Zealand every time you use the HSBC Platinum Qantas credit card.
- Extended warranty insurance. Purchase a ‘covered product’ with the HSBC Platinum Qantas Credit Card and the Australian manufacturer's warranty is automatically doubled (up to 12 months).
- Purchase protection insurance. Purchase a ‘covered product’ and this policy covers the item against loss, damage and theft.
- Guaranteed pricing. This benefit will refund the difference in price if you purchase an item with the card and you see it in a different store for less.
- Visa benefits. This Visa Platinum card gives you access to exclusive travel, shopping and lifestyle offers available on the Visa Premium website.
Features of the HSBC Platinum Qantas Credit Card
- Annual fee. Outside of any promotions, this card charges a competitive annual fee of $79 p.a., which is relatively low for a frequent flyer credit card.
- Interest-free days. Up to 55 interest-free days on purchases if you pay your balance in full by the statement due date.
- Additional cardholder. Earn Qantas Points faster and manage any family or business costs under one account by adding an additional cardholder to your account for $0.
- Fraud protection. You’re not liable to pay for any fraudulent transactions detected on the account.
- Apple Pay. Link this card with Apple Pay and you can use your iPhone, Apple Watch and iPad to make secure payments in store, in apps and on the web. Learn more about how it works.
How to apply for the HSBC Platinum Qantas Credit Card
You can apply for the HSBC Platinum Qantas Credit Card online in about 10 minutes and could get a response from HSBC within 60 seconds of submitting your application. Before you get started, make sure you meet the eligibility requirements and have all the required documents details on hand.
Eligibility criteria
- How old are you? You must be at least 18 years of age to apply for the HSBC Platinum Qantas Credit card.
- What is your residency status? You must be an Australian citizen or permanent resident of Australia. If you're an Australian temporary resident, you may be required to meet additional requirements.
- How much do you earn? You must earn a minimum gross income of $40,000 p.a.
- Credit history. You must have a good credit rating.
Required documents
To ensure that your application for the card runs smoothly, have the following information ready:
- Personal information. This includes your full name, date of birth, residential address, email address, contact number and identification such as your driver's licence number.
- Employment details. You'll need to provide details of your current role and salary, as well as your employer's contact details. You may also need to provide several recent pay slips to verify your income.
- Other financial details. This includes details of any assets such as property, shares or savings, as well as existing debts. You'll also need to estimate your regular household spending on essentials such as food shopping and gas, electricity, phone and Internet bills.
What is exactly does eligible purchases mean? Not really sure if I want the card to then find out that a regular payment I need to make in Australia will not be eligible.
Thanks
Stuart
Hi Stuart,
Thanks for getting in touch with Finder. I hope all is well with you. 😃
According to HSBC’s website, eligible purchases exclude “interest-free and other promotions, balance transfers, cash transfer, business expenses, cash advances, fees and charges, disputed transactions, BPAY® and any government fee or charge.”
It would also be a good idea to check the eligibility criteria, features and details of this card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
To gain travel insurance, it says you must have a return ticket. Does that mean you must return to Australia?
Hi Ian,
Thank you for your comment.
Upon checking, you are covered for the international travel insurance when you paid at least 90% of the total cost of the return travel ticket (i.e. ticket from and returning to Australia) using the eligible card. Hence, yes, you must have a return ticket.
You may directly get in touch with Allianz Global Assistance, as they are the policy owner, and verify the details.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
What is the major difference between the HSBC platinum qantas credit card and the HSBC platinum credit card?
Hi Micheal,
Thanks for your inquiry
The HSBC Platinum Qantas Credit Card earns 1 Qantas Point per $1 spent on eligible purchases made in Australia and overseas, up to $2,500 per statement period. After that, you’ll earn 0.5 points per $1 up to 7,500 points per statement period. It also offers platinum benefits including complimentary travel insurance, extended warranty cover and purchase protection insurance. Basically, the card is designed for Qantas Frequent Flyer Members in order to earn more Qantas points.
On the other hand, The HSBC Platinum Credit Card allows you to enjoy access to prestige services including a personal concierge service and the Visa Premium Rewards program. You’ll also earn 1 reward point per $1 spent and can redeem your points for cashback rewards, travel and accommodation. The card can be used for everyday purchases or as a balance transfer card as the card offers 0% p.a. on balance transfers for 22 months with 2% balance transfer fee.
Hope this information helps
Cheers,
Arnold
Does Complimentary Travel Insurance cover additional Card holders?
Hello Terry,
Thank you for your comment.
According to the Complimentary Insurance Terms and Conditions of HSBC Platinum Credit Card, this cover is available to cardholders who permanently reside in Australia. If the cardholder has paid for their overseas return travel ticket as outlined above, this cover extends to the cardholder’s spouse and their dependants provided they have also had at least 90% of the total cost of their overseas return travel tickets paid for in the above manner, and the spouse and/or dependants are travelling with the cardholder for the entire journey.
You’re advised to check the complimentary travel insurance terms and conditions, limits and exclusions found on their website. I hope this helps.
Regards,
Jhezelyn
Are there any terms and conditions in regards to receiving the bonus $60,000 Qantas points, if you previously had a HSBC credit card?
Hi Brad,
Thanks for your inquiry. 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.
Existing HSBC customers transferring from another HSBC credit card or customers who have held a HSBC Platinum Qantas Credit Card within the last 18 months or HSBC Premier World Mastercard® or HSBC Staff are ineligible for this offer.
Bonus 60,000 Qantas Points offer is available to new HSBC Platinum Qantas Credit Card holders who spend $3,000 on eligible purchases within 3 months of account opening. Your account must be current, in good order and not in arrears. Points will ordinarily be credited within 8 weeks of making the required spend on eligible purchases. Eligible purchases exclude interest free and other promotions, balance transfers, cash transfer, business expenses, cash advances, fees and charges, disputed transactions, BPAY® and any government fee or charge.
You may see this info by clicking the ‘Go to Site’ button on this page. The info is under the terms and conditions of the card.
Best regards,
Rench
Based on a spend of about $5000 per month I would earn approx. 4000 points. Can you tell me a dollar figure on 4000 points in either frequent flyers or gift/shop card money?
Hi Vince,
Thanks for your inquiry. 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.
The HSBC Platinum Qantas Credit Card earns 1 Qantas Point per $1 spent on eligible purchases made in Australia and overseas, up to $2,500 per statement period. After that, you’ll earn 0.5 points per $1 for the rest of the statement period.
You can also check the rewards cap by clicking on ‘Rewards Program’ tab above this page to view more details.
Best regards,
Rench
“The complimentary international travel insurance is automatically activated when you meet the policy eligibility requirements. You need to purchase your return overseas travel ticket on your HSBC Platinum Qantas Credit Card to activate the international travel insurance”. Is that 100% of the cost of the holiday, or can you pay a lesser amount to qualify. Also do you part cover the excess on hire car rental?
Hello Lawrence,
Thank you for your inquiry.
As per HSBC Platinum Qantas Credit Card Complimentary Insurance Terms and Conditions:
The costs should be at least 90% of the total cost of the cardholder’s overseas return travel ticket and as for the car hire rental excess cover, the limit is A$3,000. These are located on page 33 and 31 respectively of the document.
Hope this helps.
Cheers,
Jonathan
Reading the criteria, can a self employed be eligible to apply?
Hi Francia,
Thanks for your comment.
As for the eligibility criteria of HSBC Platinum Qantas Credit Card, you can actually prove your employment by submitting any of these documents:
– Your most recent payslip (less than 3 months old); or
– A current bank statement showing your income deposits; or
– Your last Tax Assessment Notice (if you are self-employed)
You may also want to check this page on how to apply for a credit card when you’re self-employed.
Regards,
Jhezelyn
One of the terms of this credit card is that you can only earn $2500 worth of points in each statement period.
Can you please tell me what the statement period is for this credit card?
Thanks
Hi Shawy,
Thank you for reaching out to us here at finder.com.au. We are a comparison website and general information service, we’re more than happy to offer general advice.
Statement period are the dates shown on each of the statements of account that are provided to you by HSBC. You may contact them directly by clicking the orange “Find out more” button, or the green “Go to Site” button for more details. You may also call their hotline 1300 308 008
I hope this helps.
Cheers,
Danielle
My question was more about there frequency of the statements, is it monthly, quarterly etc.?
Hi Shawy,
Thanks for your inquiry.
A bank statement or account statement is a monthly summary of financial transactions which have occurred over a given period on a bank account held by a person or business with a financial institution.
Hope this information helped.
Cheers,
Arnold
Are there plans to cut the current earning rate (1 point per dollar), in the next 2-3 months, as many other banks have done?
Hi Eric!
Thanks for the comment.
As of the moment, HSBC Qantas cards have not expressed to change their points system. Although, we are anticipating that some of these banks are still yet to announce by new financial year.
You may refer to this page to guide you about the changes being implemented this year.
Also, you can visit this as an additional guide how to maximize your points for the new rewards system.
Hope this helps.
Cheers,
Jonathan