HSBC Platinum Credit Card

Name: HSBC Platinum Credit Card
Brand: HSBC

Data last updated 20 July 2026

19.99%

Purchase rate

$199

Annual fee

55 days

Interest-free

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CardIQ

45Fair

Fair

Overall score, out of 100 · How this works

55 days interest-free45
Airport lounge45
Balance transfer55
Frequent flyer40
Rewards42
Travel50
Velocity Points40

Customer reviews

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Pros & cons

What's good

12 months at 0% p.a. on balance transfers, longer than the 12-month median (2% transfer fee, reverts to 21.99% p.a.).
Complimentary airport lounge access.
Points transfer to Velocity Frequent Flyer.
No fee to add an additional cardholder.

Worth noting

The $199 annual fee is toward the top of the market (the median is $70).
The 19.99% p.a. purchase rate sits above the 18.99% p.a. median if you carry a balance.
Points earning is capped at 180,000 points a year.
3% foreign transaction fee on overseas spending.

Card details

The basics

Additional cardholder fee: $0 p.a.
Card tier: Platinum
Card type: Visa
Card use: Personal
Credit limit: $6,000 – $500,000
Credit rating: Good
Rewards program: HSBC Rewards Plus

Eligibility

Instant approval: No
Joint application: No
Minimum age: 18 years old
Minimum income: $40,000 p.a.
Residency: Australian citizen or permanent resident
Temporary residents: Not eligible

Rates & fees

Ongoing interest rates

Cash advances: 21.99% p.a.
Purchases: 19.99% p.a.

Fees

Additional cardholder fee: $0
Annual fee: $199 p.a.
Annual fee (year 2+): $199 p.a.
Cash advance fee: 3% of the amount
Foreign transaction fee: 3%
Late payment fee: $30

Repayments

Interest-free period: Up to 55 days on purchases
Minimum repayment: 3% of the closing balance or $20, whichever is greater

Balance transfers

Can't transfer from: HSBC
Limit: Up to your available credit limit
Period: 12 months
Promotional rate: 0% p.a.
Revert rate: 21.99% p.a.
Transfer fee: 2%

While you carry a transferred balance you may not receive interest-free days on new purchases.

Introductory purchase offer

This card has no introductory purchase rate offer. If you're carrying a balance or planning a big spend, compare 0% purchase cards.

Rewards

Earn rate

Everyday spend: 1.5 pts per $1
Bonus categories: None
Other purchases: None
Overseas spend: None
ATO/government: None
Reduced rate above monthly cap: None
Points cap: Maximum 180,000 points per year
Points expiry: Points don't expire while your account is open and in order.

Sign-up bonus

Bonus spend required: —
Sign-up bonus: —

Transfer partners

Velocity Frequent Flyer: 2 pts → 1 pt (≈ 0.75 pts per $1)

Where these points could take you

Flights you could book with the sign-up bonus plus a year of spending $3,000 a month on this card. One-way from Sydney or Melbourne, one adult, before taxes and carrier charges. Award prices and seat availability change.

Where this card sits vs similar cards

Compared with every other personal credit card we list that has the feature. The further right the dot, the better this card does.

FeatureThis cardWhere it ranks

Interest-free days55 daysTop 10% (6th of 192 cards)

Rewards value$540 a yearTop 10% (5th of 95 cards)

Balance transfer0% for 12 monthsTop 25% (15th of 62 cards)

Overseas fee3.00%Better than most (53rd of 200 cards)

Purchase rate19.99%Middle of the market (97th of 196 cards)

Annual fee$199 a yearNot as good as most cards (151st of 200 cards)

Data as at August 2026. Rates change often, so check the issuer's terms. Factual information, not a recommendation.

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Questions and answers

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Sources

Credit Card Compare: Australian credit card statisticsHow CardIQ scores cards
Government: Product reference data (Consumer Data Right)
Issuer: HSBC