How to Apply for Your HSBC Platinum Credit Card

The HSBC Platinum Credit Card is designed for Australians looking to enjoy premium rewards, travel perks, and financial flexibility. Whether you’re seeking everyday benefits or exclusive privileges, this card offers a combination of rewards and features tailored to enhance your spending experience.

APPLY NOW

With a generous rewards program, travel advantages, and security features, the HSBC Platinum Credit Card is an excellent choice for those who want to make the most of their purchases while enjoying added convenience and protection.

Benefits of the HSBC Platinum Credit Card

Maximise Your Rewards

• Earn 1.5 Rewards Plus points for every $1 spent on eligible purchases, helping you accumulate points efficiently.
• Points can be redeemed for cashback, gift cards, or exclusive rewards, offering flexible redemption options.
• Annual cap of $120,000 on eligible spending that earns points.

0% Interest on Balance Transfers

• Enjoy 0% p.a. interest on balance transfers for 12 months, helping you consolidate existing debt without extra interest.
• A 2% balance transfer fee applies.
• After the promotional period, the remaining balance is subject to the cash advance rate of 21.99% p.a..

Exclusive Travel Perks

Get two complimentary airport lounge passes per year, ensuring a comfortable pre-flight experience. Benefit from comprehensive travel insurance, including:

• Domestic and International Travel Insurance
• Rental Vehicle Excess Insurance in Australia
• Transit Accident Insurance
• Extended Warranty Insurance
• Purchase Protection Insurance

Mobile Payments and Security Features

Make fast and secure contactless payments using Apple Pay or Google Pay at participating retailers. Manage your card with My Card Controls, allowing you to:

• Set transaction limits.
• Lock or unlock your card instantly.
• Monitor spending in real time for better financial control.
• HSBC Instant Savings and Home&Away Privilege Program
• Access over 4,500 ways to save with the HSBC Instant Savings app.
• Enjoy exclusive offers from 27,000 selected partners worldwide with the Home&Away Privilege Program.

Additional Benefits

• No additional cardholder fees, allowing you to share your benefits with family members at no extra cost.
• Get access to Visa’s exclusive perks and offers, including discounts on flights, dining, shopping, and entertainment.

HSBC Platinum Credit Card Prerequisites

To qualify, applicants must:

• Be 18+ years old.
• Be an Australian citizen, permanent resident or hold a long-term visa.
• Earn a minimum annual income of $40,000.
• Have a good credit score.

Required Documents

• Proof of Identity: Australian driver’s licence or passport.
• Proof of Residency (if applicable): Visa, employment contract, or rental agreement.
• Proof of Income:
  • Employees: Recent payslip (within 30 days).
  • Self-employed: ATO Notice of Assessment (last 16 months) + ABN details.
  • Retirees: Superannuation income statements.

Pros and Cons of the HSBC Platinum Credit Card

Pros

• Reward Points Program: The HSBC Platinum Credit Card offers an attractive rewards structure, earning 1.5 Rewards Plus points for every $1 spent on eligible purchases. With up to $120,000 in spending annually, cardholders can rack up points for future redemptions.
• Introductory Offers: The card provides 0% p.a. interest on balance transfers for the first 12 months, making it an excellent choice for those looking to manage existing debt with no interest for an introductory period (note: a 2% balance transfer fee applies).
• Travel Perks: Enjoy 2 free airport lounge passes annually, as well as access to comprehensive travel insurance, including rental vehicle excess and transit accident insurance.
• Exclusive Offers: Cardholders gain access to the Home&Away Privilege Program, unlocking over 27,000 partner offers both in Australia and internationally.
• Security Features: The card supports fast and secure mobile payments with Apple Pay and Google Pay, and My Card Controls help manage and secure spending, with features like transaction limits and card locking.

Cons

• High Annual Fee After First Year: The HSBC Platinum Credit Card is free for the first year, but after that, the annual fee jumps to $199. This may be considered high by some customers.
• Interest Rates: The interest rate on purchases is 19.99% p.a., which is fairly typical but could be considered high for those carrying balances.
• Overseas Transaction Fee: For international spending, the card charges a 3% foreign transaction fee, which can add up for frequent travelers.
• Balance Transfer Fee: Although there is a 0% interest rate on balance transfers for 12 months, a 2% fee applies, which could be a deterrent for those looking to transfer large balances.

APPLY NOW

About HSBC Australia

HSBC is one of the largest and most trusted banking institutions globally, with a significant presence in Australia. As a subsidiary of the HSBC Group, HSBC Australia offers a wide range of financial services, including personal banking, business solutions, wealth management, and investment services.

The bank has a long history of providing innovative and reliable financial solutions to its customers. HSBC is known for its commitment to helping customers achieve their financial goals with a strong focus on service excellence and cutting-edge digital banking. In addition to credit cards, HSBC Australia offers a variety of loans, mortgages, and investment opportunities to meet the needs of individuals and businesses alike.

HSBC’s robust online and mobile banking services ensure that customers can manage their finances seamlessly, with secure access to account management tools and banking services anytime, anywhere. The bank’s extensive international network also provides an advantage for customers who frequently travel or engage in global business, offering convenient access to financial services worldwide.

Whether you’re looking for great rewards on everyday purchases, travel perks, or comprehensive financial management, HSBC Australia stands as a strong player in the banking industry, providing a wealth of benefits to its customers.

For Whom is the HSBC Platinum Credit Card?

The HSBC Platinum Credit Card is ideal for individuals who want to earn rewards on their everyday spending and enjoy premium travel and shopping benefits. This card is perfect for those who frequently spend on eligible purchases, including groceries, entertainment, and travel, as it allows them to earn 1.5 Rewards Plus points per $1 spent.

If you’re someone who values perks like travel insurance, airport lounge access, and exclusive offers, this card offers these benefits and more.

It’s also a great choice for people looking for balance transfer options, as it offers 0% p.a. on balance transfers for the first 12 months (with a 2% fee). With no additional cardholder fees, this card is perfect for those who want to share the benefits with family members or friends.

Step-by-Step Guide to Applying for the HSBC Platinum Credit Card

Applying for the HSBC Platinum Credit Card is a straightforward process. Here’s how to do it:

1. Check Eligibility:

• You must be over 18 years old.
• You need to be an Australian citizen, permanent resident or hold a long-term visa.
• A minimum annual income of $40,000 is required.
• A good credit rating is essential.

2. Prepare Your Documents:

• Proof of identity (such as an Australian driver’s license or passport).
• Proof of residency (for non-Australian citizens, documents like a passport, Australian visa, and employment contract are required).
• Proof of income (most recent payslip or tax documents if self-employed).
• Other supporting documents like rental or investment income statements if applicable.

3. Apply Online:

If you’re new to HSBC, you can apply online through their website or use the HSBC Mobile Banking app if you’re an existing customer. The process takes around 10 minutes, and you’ll receive an instant response.

4. Wait for Approval:

After you submit your application, HSBC will review your documents and credit history. If approved, you’ll receive your card and can start using it for everyday purchases.

Fees of the HSBC Platinum Credit Card

The HSBC Platinum Credit Card comes with a range of fees and tariffs. Here’s a breakdown:

• Annual Fee: $199 (free in the first year).
• Interest on Purchases: 19.99% p.a.
• Interest-Free Period on Purchases: Up to 55 days.
• Balance Transfer Rate (Introductory): 0% p.a. for 12 months (2% transfer fee applies).
• Cash Advance Fee: 3% of the transaction or $4, whichever is higher.
• Overseas Transaction Fee: 3%.
• Late Payment Fee: $30.
• Additional Cardholder Fee: $0 (cardholders must be over 16 years old).
• Minimum Credit Limit: $6,000.

Conclusion

The HSBC Platinum Credit Card is a versatile choice for those looking to earn rewards on everyday spending while benefiting from exclusive travel and shopping perks. With no annual fee for the first year, access to premium travel insurance, and the ability to earn 1.5 Rewards Plus points per $1 spent, it’s a great option for frequent spenders.

However, prospective cardholders should be mindful of the ongoing annual fee and interest rates. Whether you’re looking for travel insurance, balance transfer options, or rewards on your purchases, the HSBC Platinum Credit Card offers a compelling combination of features that make it worth considering for those who meet the eligibility criteria.

APPLY NOW