HSBC Platinum Credit Card Details:

HSBC Platinum Credit Card – 26 Months Interest Free Balance Transfer

If you’re looking for a rewards credit card that also comes with a huge balance transfer offer, the HSBC Platinum might be worth looking into!
Right now you can get a 0% interest balance transfer for 26 months and $0 annual fee for the first year ($129 if you keep the card for a second year), that’s in addition to a few other benefits such as rewards and shopping discounts!

  • Rewards Program

    HSBC Rewards Plus

  • Earn Rate

    2 Points Per $1 Spent

  • Bonus Offer

    26 Months Interest-Free Balance Transfer

  • Annual Fee

    $0 First Year ($129 from second year)

26 Months Interest-Free Balance Transfer

26 Months Interest-Free Balance Transfer

Balance transfers are a great way to deal with any credit card debt you might have, or for the savvy user it’s an excellent strategy to get a 26-month interest free debt consolidation. Most balance transfers come with a fee; this is also the case for HSBC where you can get 26 months at 0% interest with a 1% establishment fee (one time fee paid when you set up the balance transfer), however; the annual card fee is waived for the first year which will save you $129.

Keep in mind that if you use your card for everyday purchases while you have a balance transfer active, you will need to make sure to pay the balance in full each month. HSBC will automatically allocate payments to your card based on the interest rate. After the 26 months, the 0% interest rate will revert to 21.99%, so make sure your card is repaid!

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.

Domestic Earn Rate

1 Reward Plus Point Per AU$1 Spent

International Earn Rate

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.

5,000 Reward Plus Points =

$25 cash back to your account

10,000 Reward Plus Points =

$50 cash back to your account

20,000 Reward Plus 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.

Domestic Earn Rate

0.5 Velocity Point per AU$1 spent

International Earn Rate

1 Velocity Point per AU$1 spent in foreign currency

Airport Lounge Passes

Airport Lounge Passes

The HSBC Platinum credit card partners with LoungeKey which is a global network of airport lounges to offer card members 2 yearly lounge passes. It’s a handy addition for when we can travel again!

55 Days Interest Free

55 Days Interest Free

At Flight Hacks, we advocate for paying your balance in full and on time, when you do so you will never pay interest thanks to the 55 days interest-free on the HSBC Platinum card.

Mobile Payments

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.

Annual fee

First year $0, then $129 p.a.

Additional cardholder fee


Interest rate on purchases

19.99% p.a.

Interest rate on cash advances

21.99% p.a.

Interest rate on balance transfers

0% p.a. for 26 months with no balance transfer fee. Reverts to the cash advance rate.

Balance Transfer Establishment Fee:


International transaction fee


Minimum income requirement

$40k p.a.

Minimum credit limit


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
decor What is the home&Away Privilege Program?

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 5% at supermarkets and petrol stations – that’s 5% off your weekly shop

Enjoy 20% off your total bill, up to a maximum deduction of $25, at over 2,000 participating dining establishments across Australia

Save up to 10% at department stores – that’s 10% off the next outfit you want

Save up to 50% off family activities and lifestyle offers – that’s a half-price night out for the family

Save up to 50% at over 2,000 hotels worldwide – stay for half the price on your next trip away

Ready to Apply?

Get a 26-month interest free balance transfers at 0% and no annual fee for the first year!

Apply nowic
Insurance benefits

Insurance benefits

Of course HSBC Platinum also comes with a range of insurance products underwritten by Allianz. Enjoy Domestic and International Travel Insurances with rental vehicle insurance excess cover, Transit Accident Insurance, Extended Warranty Insurance, Guaranteed Pricing Scheme and Purchase Protection Insurance. Travel cover is activated when at least 90% of your trip is paid for with your HSBC Platinum card, and insurance cover extends to your spouse and dependents as well. Just make sure you read the PDS as there are exclusions that might apply to your personal situation.

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 26 months 0% interest-free balance transfer offer. As a bonus, the annual fee is waived for the first year saving you $129. HSBC may change or end this offer at any time. Please see full terms and conditions.

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