HSBC Rewards Plus
HSBC has its own rewards program called Rewards Plus. The program has a few benefits that offer extra flexibility and options such as cash back, frequent flyer points or gift cards.
2 Reward Plus Points Per AU$1 Spent
Rewards Plus Cash Back
There aren’t many credit cards in Australia that allow you to earn cashback from your everyday expenses, but the HSBC Platinum has a cashback function as part of the rewards program. Members can redeem their points for cash back to their card in increments of $25 for 5,000 points, $50 for 10,000 points and $100 for 20,000 points.
$200 cash back to your account
Rewards Plus Frequent Flyer Points
Since Rewards Plus is a flexible program, you can choose when you redeem your points and how. Our preferred way is frequent flyer points, and HSBC offers access to Velocity Frequent Flyer.
Note: points are capped at 10,000 Reward Plus points per statement period.
1 Velocity Point per AU$1 spent in foreign currency
Apple Pay and Google Pay are a must-have these days, gone are the days where you need to carry all your cards, so we’re glad to report that HSBC support both platforms which is super convenient.
What is the home&Away Privilege Program?
The HSBC home&Away Privilege Program is a global discount program which works with a range of partners around the world. There are benefits on travel, dining, experiences, shopping, wellbeing and even education. You can expect exclusive savings such as a 10% discount on Agoda bookings, 15% discount on Europcar and many more retailers. You can check out all the deals on the home&Away Privilege Program portal.Visit Home And Away Portal
Visa Premium Access
HSBC Platinum cardholders also get access to Visa Premium, right now there aren’t many Australian partners offering benefits, but there are some international offers across a range of global brands such as Farfetch, Hertz and Preferred Hotels & Resorts you can also access.
What is HSBC Instant Savings?
HSBC Platinum card holders also get access to HSBC Instant Savings; this is a membership portal operated by the people that run the popular Entertainment book. This portal offers huge savings across a range of shopping categories. For example, you can buy Coles supermarket gift cards at a 3% discount, and there are many restaurants and cafes on the platform that offer instant savings for members. You can find all the participating merchants here:Visit HSBC Instant Savings
Save up to 50% at over 2,000 hotels worldwide – stay for half the price on your next trip away
Summing Up - HSBC Platinum in conclusion
Overall the HSBC Platinum credit card packs a pretty good set of features when you consider this is what we would consider an entry-level product. One of the biggest selling features is, of course, the 22 months 0% interest-free balance transfer offer. As a bonus, the annual fee is waived when you spend $6,000 per year. That might sound like a lot but works out to only $500 a month, which is rather easy to achieve and further increases the value proposition of this card.
HSBC may change or end this offer at any time. Please see full terms and conditions below.