The HSBC Platinum Qantas Credit Card offers complimentary Qantas Frequent Flyer membership, saving you $99.50 on the usual joining fee if you're not a member yet. It also gives you access to complimentary domestic and international travel insurance and purchase insurance options. If you want to switch to this card, you could also transfer your existing card balance and get a 0% p.a. balance transfer rate for the first 12 months. But there is a 2% balance transfer fee and a higher rate after that.
HSBC Platinum Qantas Credit Card
Terms and conditions apply
- Purchase rate
- 19.99% p.a.
- Reward points per $ spent
- 1.5
- Annual fee for the first year ($299 p.a. thereafter)
- $0 p.a.
- Interest-free on purchases
- Up to 55 days
Our verdict
Offers 1.5 Qantas Points per $1 on eligible spending in the first year, which drops to 1 point per $1 after that.
Pros
-
Up to 1.5 Qantas Point per $1 spent
-
$0 first-year annual fee ($299 p.a. thereafter)
-
Complimentary travel insurance and purchase insurance benefits
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0% p.a. on balance transfers for the first 12 months
Cons
-
Charges a 2% balance transfer fee
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Points cap of 120,000 per year
-
High 21.99% p.a. interest rate for balance transfers after the introductory period
Details
Product details
| Product Name | HSBC Platinum Qantas Credit Card |
| Balance transfer rate p.a. | 0% for 12 months with 2% balance transfer fee, then 21.99% |
| Balance transfer limit | 90% of available limit |
| Purchase rate p.a. | Purchase rate p.a. 19.99% |
| Interest-free period | Up to 55 days on purchases |
| Cash advance rate p.a. | 21.99% |
| Min credit limit | $6,000 |
| Max credit limit | $25,000 |
| Card type | Visa |
Eligibility
| Available to temporary residents | No |
| Minimum income | $40,000 |
| Joint application | No |
Rewards
| Rewards program | Qantas Frequent Flyer |
| Bonus points | N/A |
| Rewards points per $ spent | 1.5 |
| Rewards points cap | 120,000 |
Fees
| Annual fee | Annual fee $0 first year ($299 after) |
| Minimum monthly repayment | 3% of the closing balance or $20, whichever is greater |
| Late payment fee | $30 |
| Foreign currency conversion fee | Foreign currency conversion fee 3% |
| Cash advance fee | 3% or $4, whichever is greater |
| Additional cardholder fee | $0 |
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Amy Finder
Editor
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Richard Whitten Finder
November 26, 2024
Hi Brett,
Reading the fine print on the card, it seems to me that you could cancel after 11 months and avoid the fee.
As for the first question, you’re asking if your wife could be the additional cardholder on your card, and get a completely separate credit card of her own? It’s possible, and requires a separate application. As with any application, approval will be determined by your wife’s credit score, income, spending and how many other credit cards (or other debts) are in her name.
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Ashh
July 22, 2024
It says $0 for first year, so will the annual fee be charged to to me in the second year ?
Also Can you please help with a Qantas Points credit card with No annual fee that’s not AMEX ?
Thank you
Sarah Megginson Finder
July 29, 2024
Hi Ashh,
Yes that’s right, there is no fee changed in year one, but you’ll be charged a fee in your second year, usually in the first month. Right now, AMEX is the only card provider that offers a Qantas-earning card without an annual fee.
Hope this helps!
Ashh
July 15, 2024
When will I be charged the annual fee ? And If I cancel my credit card before one year can I skip the annual fee ?
Sarah Megginson Finder
July 16, 2024
Hi Assh,
You’re generally charged the annual fee as soon as you open the card. If you close the card before your first anniversary, you won’t pay the annual fee for next year.
Also, if you pay the fee and then close the card shortly afterwards (1-2 months), you can request a pro-rata discount for the remaining months of the year.
Hope this helps!
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Mark
April 13, 2024
Can I pay the entire balance every month rather than a set amount?
I read an answer to a previous question stating that business expenses are excluded. what falls into that category and how could I tell?
Angus Kidman Finder
September 23, 2024
Hi Mark, Yes, you can pay the entire balance owing each month – and that’s the best way to use a credit card. Paying only the minimum payment means you’ll rack up high interest charges. Broadly speaking, business expenses are anything that’s invoiced by a business (which often can’t be paid by a credit card anyway). Hope this helps!
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Judi
October 29, 2023
I have a HSBC Plat Visa card have only been earning rewards points with them which I now realise is not very beneficial to me.Can you suggest a card where I will earn QF points or other that includes travel insurance
Amy Bradney-George Finder
October 29, 2023
Hi Judi,
You can compare frequent flyer credit cards on Finder that earn Qantas Points, Velocity Points or points you can transfer to other airline programs. Many of these credit cards also offer complimentary travel insurance, but keep in mind that it is more common on platinum or higher-level cards, which often have annual fees around $200-$450 or more.
In regards to your current card, you may also want to check your HSBC rewards points balance and consider how you want to redeem them before cancelling the account. Rewards include gift cards, cashback and point transfers to Velocity Frequent Flyer, which means you could still get some value out of the points you have already earned. I hope that helps.
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BRETT
November 25, 2024
Can I get my wife a card as well as an additional card holder?
Also If the first year annual fee is free can I cancel the card after 11 months and there will be now charges?