Compare HSBC Credit Cards

Different types of credit cards may have different eligibility criteria. However, in general, to apply for a HSBC credit card, you must meet the following criteria:

• at least 18 years old.
• an Australian citizen or permanent resident.
• depending on the card you’re applying for, earn at least $40,000 p.a. or $75,000 p.a. Read full terms and conditions before applying.
• have a good credit history.
• agree to a credit check.

Before you apply, it could be a good idea to check your credit score.

For more information on eligibility requirements, visit the provider’s website

If eligibility requirements are met, you can apply online or call on 1300 131 605. You could also visit your nearest HSBC brand to apply in person.

When applying, HSBC recommends having the following documents on hand:

• Proof of identify documents
• Address details
• Income and employment

You can activate your HSBC credit card either through their online internet banking service or by calling their customer service centre on 132 152.

To activate online, you will need to log into your HSBC account on the bank’s website. Once logged in, select your credit card account and find ‘Manage your account’. From there you’ll be able to click ‘Activate Card’ and follow the prompts to activate your new card.

For a HSBC Premier credit card, you can call HSBC Premier Centre instead on 1300 301 168 to activate your credit card.

Interest on HSBC credit cards is applied to your account balance daily. The interest charged is calculated by applying the daily equivalent of the annual interest rate, your applicable annual interest rate divided by 365, to the transaction. The interest rate applied will depend on the type of transaction: Cash Advance, Purchase, or Special Promotion. See your HSBC credit card Letter of Offer email and its attachments for full details.

HSBC will send the outstanding amount you owe on your credit card on your Statement Due Date, which is usually every 31 days.

Your outstanding balance will be the sum of the daily charged interest in all categories shown to be owing in your account on the last day of the statement period.

Interest-Free Period

If your HSBC credit card has an interest-free period for purchases (up to 55 days), you won’t be charged interest for eligible purchases during that period. To maintain the interest-free period, you must pay all the owing amount on your card by the payment due date. If you do not pay or only pay the minimum payment amount by the due date, you will lose your interest-free period for the next statement period. You can obtain your lost interest-free period by paying all you owe by the payment due date.

The credit limit of your HSBC credit card will depend on the information you provide in your application and the respective HSBC card’s own conditions.

To increase or decrease your existing HSBC credit limit, you will have to contact HSBC directly.

To increase your credit limit, the primary cardholder will need to apply for a credit limit by completing a Credit Limit Increase Request form. You can only apply for an increase after 6 months of having the credit card. Your request will be subject to HSBC’s credit criteria.

To decrease your credit limit, you can do so through HSBC’s Online Banking or by contacting HSBC’s Customer Service Centre on 132 152. For HSBC Premier credit cards, you’ll have to contact HSBC’s Premier Centre on 1300 301 168. For HSBC Online Banking, you’ll have to log in and go to ‘Credit Cards Online’, then ‘Manage your Account’ followed by ‘My Cards’. From there, you can select ‘Decrease Credit Limit’, where you’ll be required to fill out and apply a ‘Credit limit Decrease Request’ form.

It should be noted that you’re not able to decrease your credit limit below the HSBC credit card’s minimum credit limit. See your HSBC credit card Letter of Offer email and its attachments for full details.

You can close your credit card account at any time either online, visiting your nearest branch or by calling HSBC on 132 152.

To cancel online, log into your HSBC Online Banking account and go to ‘Credit Cards Online’. Once there, select to Manage your Account, then ‘My Cards’, followed by ‘Close my Credit Card Account’ and then follow the prompts to close your card.

You can only close your HSBC credit card when you’ve paid all outstanding balances in full and recurring payments are cancelled. HSBC advises that it is your responsibility to contact any services that have recurring payments charged onto the card. HSBC warns that you will be liable for any payments, fees and charges still owing or being charged onto your credit card.

At the time of writing, HSBC offers three types of rewards program with their credit card:

• Classic Rewards Plus
• Platinum Rewards Plus
• Premier Rewards Plus

Their Platinum and Premier rewards credit cards also offer a Qantas Frequent Flyer alternative where you can earn Qantas Points instead of HSBC Rewards Points.

Use the comparison table at the top of the page to compare each HSBC credit card.

Alternatively, you can compare rewards credit cards on Canstar’s database for more options.

Compare Rewards Credit Cards

You can earn and accumulate HSBC Rewards Points when you make an eligible purchase with a HSBC Rewards credit card. If you have your Qantas Frequent Flyer linked to the card, you will earn Qantas Points instead of HSBC Rewards Points.

The number of Rewards Points awarded per whole Australian dollar spent will vary depending on the card type.

You can use the comparison table at the top of the page to compare the number of points you can earn for every eligible dollar on HSBC credit cards.