HSBC Credit Cards

HSBC is a provider of credit cards, home loans, personal loans, savings and transaction accounts, and general insurance products.

Compare HSBC Credit Cards

If you’re considering a HSBC card, check out what’s available below in our comparison table based on a monthly spend of $5,000. Please note that this table has been sorted by purchase rate (lowest to highest).

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More information about HSBC credit cards

HSBC currently offers four credit cards:

  1. HSBC Platinum Qantas Credit Card
  2. HSBC Platinum Credit Card
  3. HSBC Low Rate Credit Card
  4. HSBC Premier World Mastercard 

We have summarised below some of the key features of these credit cards, according to the information available on HSBC’s website at the time of writing.

HSBC Platinum Qantas Credit Card

Features

  • Card type: Visa
  • Minimum credit limit: $6,000
  • Minimum income required for eligibility: $40,000 p.a.
  • Interest-free period: Up to 55 days
  • Contactless payments: Visa payWave chip technology allows you to make contactless payments for purchases under $100. Mobile payments can also be made using Apple Pay and Google Pay. 
  • Security: Card protected by Visa’s Zero Liability Policy against unauthorised transactions.
  • Rewards program: Earn Qantas Points for money spent using the card. Cardholders also receive complimentary Qantas Frequent Flyer membership and Frequent Values membership as well as access to Visa Premium Benefits and the home&Away Privilege Program. 
  • Insurance: Receive complimentary domestic and international travel insurances.

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HSBC Platinum Credit Card

Features

  • Card type: Visa
  • Minimum credit limit: $6,000
  • Minimum income required for eligibility: $40,000 p.a.
  • Interest-free period: Up to 55 days
  • Contactless payments: Visa payWave chip technology allows you to use this card for payments of less than $100. Mobile payments can also be made using Apple Pay and Google Pay.
  • Security: Card protected by Visa’s Zero Liability Policy against unauthorised transactions.
  • Rewards program: Earn HSBC Rewards Plus points for money spent using the card. HSBC’s Rewards Plus points can be redeemed for a range of rewards including cash back, gift cards and travel. Cardholders also receive free membership to Frequent Values, two airport lounge passes each year as well as access to Visa Premium Benefits and the home&Away Privilege Program. 
  • Insurance: Receive complimentary domestic and international travel insurances.

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HSBC Low Rate Credit Card

Features

  • Card type: Visa
  • Minimum credit limit: $1,000
  • Minimum income required for eligibility: $40,000 p.a.
  • Interest-free period: Up to 55 days
  • Contactless payments: Visa payWave chip technology allows you to use this card for payments of less than $100. Mobile payments can also be made using Apple Pay and Google Pay.
  • Security: Card protected by Visa’s Zero Liability Policy against unauthorised transactions.
  • International transactions: Card comes with no international transaction fees. 
  • Insurance: Receive complimentary domestic travel insurance.

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HSBC Premier World Mastercard

Premier world MCFeatures

  • Card type: Mastercard
  • Minimum credit limit: $15,000
  • Interest-free period: Up to 55 days
  • Contactless payments: Mastercard PayPass technology allows you to tap and go for payments of less than $100. Mobile payments can also be made using Apple Pay and Google Pay.
  • Security: Card protected by Mastercard® SecureCode™.
  • Rewards program: Earn points for money spent using the card. Choice of two rewards programs – HSBC Rewards Plus or Qantas Rewards points. Additionally, receive free Frequent Values membership, access to over 1,000 airport lounges worldwide through LoungeKey and discounts with Expedia and Agoda. 
  • Insurance: Receive complimentary domestic and international travel insurances.

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HSBC Credit Card FAQs

To apply for any of the HSBC credit card products, you must be able to satisfy the following criteria:

  • Be over 18 years of age
  • Be an Australian resident
  • Have a good credit rating
  • Earn an income of at least $40,000 p.a. if applying for Platinum Qantas, Platinum or Low Rate credit card.

For more information on eligibility requirements, refer to the HSBC website.

First, check whether you are eligible to apply for a credit card from HSBC. See above for the eligibility requirements.

If you meet the eligibility requirements, you can apply online, over the phone or in person at a HSBC branch.

HSBC says you will need to have the following information handy:

  • Identification 
  • Address details
  • Income and employment details

HSBC says the application process should take approximately 10 minutes and you will get an instant response within 60 seconds.

You will have to activate the card when it arrives before you can use it. HSBC says you can activate it through online banking or over the phone.

You can manage your HSBC credit card, view your balance, recent transaction history, and more through HSBC online banking or by using the HSBC mobile banking app.

When interest is charged

Interest is charged when you carry a balance on your HSBC credit card. Interest is charged on cash advances from the date of withdrawal and balance transfers from the date of transfer. Fees and charges may apply, contact HSBC for details. 

When interest is not charged

At the time of writing, up to 55 interest-free days apply to HSBC credit card purchases if you have paid the balance in full for the previous month’s statement and for the current month’s statement (the statement on which the purchases are listed).

Your credit limit for a HSBC credit card will be determined based on the information you provide in your application, keeping in mind the minimum and maximum credit limits available for each card. 

If you wish to increase or decrease your credit limit, HSBC says you can request to do so through online banking, by phone or in person at a HSBC branch. HSBC says this will be subject to credit assessment and the minimum product limit.

You can close your HSBC credit card account at any time through online banking or by contacting HSBC in writing or by phone.

Your card balance will need to be repaid in full even after the card is closed. You will continue to receive monthly statements until your card balance is fully repaid.

If you are experiencing financial hardship, you may be able to get help making repayments by contacting the HSBC customer service team.

If you are closing your HSBC credit card because you’re not satisfied with it, consider your other options when it comes to credit cards:

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HSBC was founded in 1865 in Hong Kong to finance trade between Asia and Europe. HSBC moved into Australia in 1965 and gained its commercial banking licence in 1986. HSBC says it is now one of the world’s largest banking and financial institutions, serving over 40 million customers in 65 countries and territories.

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If you’re currently comparing credit cards, the comparison table below displays some of the low interest credit cards currently available on Canstar’s database for Australians looking to spend around $2,000 per month. Please note that this table features links direct to the provider’s website, and is sorted by Star Rating (highest to lowest), followed by provider name (alphabetical). Use Canstar’s credit card comparison selector to view a wider range of credit cards.

Table only displays five products. Click here to see more. Be sure to read the full terms and conditions of each deal before signing up.

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Written by: TJ Ryan | Last updated: November 5, 2019