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HSBC Platinum Credit Card (Balance Transfer Offer)
- Balance Transfer
- Apple & Google Pay
- Balance transfer
Enjoy 0% p.a. interest on Balance Transfers for 12 months with a 2% BT Fee and a reduced annual fee of $29 in the first year. To be eligible for the introductory balance transfer rate, the balance transfer request must be made when applying for the HSBC Platinum Credit Card. Your total balance transfers must not exceed 90% of your approved credit limit. The interest rate on the balance transfer applies for 12 months and must be from non-HSBC credit cards. After this period, any balance outstanding from the balance transfer will accrue interest at the cash advance rate (currently 21.99% p.a. and subject to change). HSBC will allocate payments received from you to pay off the portion of your balance attracting the highest interest rate first and subsequently to portions of your balance attracting lower interest rates. This may mean applying any and all payments made to your Platinum Credit Card account to pay off other transactions such as purchases and cash advances before any balance transfer amount.
Offer available when you apply for a new Platinum credit card. HSBC may change or end this offer at any time. 1. To be eligible for the introductory balance transfer rate, the balance transfer request must be made when applying for the HSBC Platinum Credit Card. Your total balance transfers must not exceed 90% of your approved credit limit. The interest rate on the balance transfer applies for 12 months and must be from non-HSBC credit cards. After this period, any balance outstanding from the balance transfer will accrue interest at the cash advance rate (currently 21.99% p.a. and subject to change). HSBC will allocate payments received from you to pay off the portion of your balance attracting the highest interest rate first and subsequently to portions of your balance attracting lower interest rates. This may mean applying any and all payments made to your Platinum Credit Card account to pay off other transactions such as purchases and cash advances before any balance transfer amount. 2. The annual fee will be $29 in the first year and charged on the first statement of account. This will revert to $129 in subsequent years and is subject to change.
Purchase rate p.a.
19.99%
Balance transfer rate
0%
Annual fee
$29
for 12 months then $149 thereafter
HSBC Platinum Credit Card (Balance Transfer Offer)
- Balance Transfer
- Apple & Google Pay
- Balance transfer
Purchase rate p.a.
19.99%
Balance transfer rate
0%
Annual fee
$29
for 12 months then $149 thereafter
RateCity says
"A competitive platinum card offering from a global provider. Cardholders can enjoy a lengthy balance transfer period and a range of perks from the HSBC Rewards Program."
Pros and Cons
For HSBC Platinum Credit Card (Balance Transfer Offer)
Benefits
- Rewards Available through HSBC Rewards Plus Program
- $29 annual fee in the first 12 months and $149 p.a thereafter.
- Domestic travel insurance
- International travel insurance
- Free supplementary cards
- Price guarantee
- Extended warranty
- Rental car excess insurance
- Concierge
- Partner discounts
- Airport lounge
- Purchase protection insurance
Drawbacks
- Higher than average ongoing variable purchase rate
- Higher than average ongoing annual fee
HSBC Rate Credit Card overview
For Platinum Credit Card (Balance Transfer Offer)
Details
Card level
Platinum
Card type
Visa
Interest free days
55
Minimum monthly repayment
3% or $20
Minimum credit limit
$6,000
Maximum credit limit
$0
Free supplementary cards
Instant approval
Target Market Determination
Visit HSBC Bank Australia Limited to view Target Market Determination.
Fees
Annual fee
$29
for 12 months then $149 thereafter
Annual Fee Spend Waiver
Supplementary card annual fee
$0
Late payment fee
$30
Over limit fee
$30
Duplicate statement fee
$8
Electronic Wallet Service
Apple pay available
Google pay available
Samsung pay available
Important Rates
Rates
Purchase rate p.a.
19.99%
Cash advance rate
21.99%
Cash advance fee
3% or $4
Balance Transfer
Balance transfer rate
0%
Transfer limit
90%
of the approved credit limit
Balance transfer fee
Overseas spending
Foreign exchange fee
Overseas charges
$4
Estimated ATM cost
$13
for AU $300 withdrawal
Rewards
Program name
HSBC Rewards Plus Program
Rewards available
Gift Card, Cash Back
Eligibility
Minimum age
18
Minimum income
$40,000
Eligibility conditions
Residency
Perks
You must pay an excess of A$200 for each claim
You must pay an excess of A$200 for each claim other than the replacement of travel necessities. If you make more than one claim from a single event, the excess only applies once.
If you purchase personal goods in Australia and then find the same product advertised later at a cheaper price, you can claim back the difference if it is more than $75.
Warranty is extended for the same duration as the original warranty up to 1 year.
2 per year
Covers with a $100 excess
Other Restrictions
Eligible purchases exclude interest free promotions, balance transfers, business expenses, cash advances, fees or charges, any disputed transactions, and any government fee or charge.
