In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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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.

This frequent flyer credit card from HSBC offers two of the most popular perks available: Qantas Points and travel insurance. It also offers a high earn rate of 1.5 Qantas Points per $1 on eligible spending of up to 120,000 for the first 12 months. The 1 Qantas Point per $1 earn rate that applies from the second year is also competitive. But unlike some other frequent flyer cards, it doesn't have a big bonus points offer on sign-up.

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
  • 0% p.a. on balance transfers for the first 12 months

Cons

  • Charges a 2% balance transfer fee
  • Points cap of 120,000 per year
  • High 21.99% p.a. interest rate for balance transfers after the introductory period

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

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.

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

How to apply

You can apply for the HSBC Platinum Qantas Credit Card online in about 10 minutes and could get a response from HSBC within 60 seconds of submitting your application. Before you get started, make sure you meet the eligibility requirements and have all the required documents details on hand.

Eligibility criteria

  • Minimum income. You must earn at least $40,000 per year to apply.
  • Residency. You can apply for an HSBC credit card if you are an Australian citizen, permanent resident or temporary resident, provided you hold a current and valid visa.

Card benefits

  • Qantas Points per $1 spent. The HSBC Platinum Qantas Credit Card offers 1.5 Qantas Point per $1 on eligible purchases, up to 120,000 points in the first 12 months. After that, you'll earn 1 Qantas Point per $1 on eligible spending up to 120,000 per year.
  • $0 first-year annual fee. This card offers a waived annual fee in the first year, which goes to $299 per year after that.

Rates & fees

  • Annual fee. Outside of any promotions, this card has a $299 annual fee, which is on par with some other credit cards offering a similar rate of Qantas Points per $1.
  • Interest rates. The HSBC Platinum Qantas charges a variable 19.99% p.a. interest rate on purchases and 21.99% p.a. on cash advances.

Your reviews

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Amy Finder

Editor

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Avatar

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


Avatar

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!


Avatar

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 ?


Avatar

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?


Avatar

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


Avatar

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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peter

August 20, 2019

Do you earn points when paying ATO?


Avatar

Charisse Finder

August 20, 2019

Hi Peter,


Thanks for reaching out to Finder.


As per HSBC Qantas Rewards T&C, government fees or charges such as registrations, rates, licences, infringements or Australian Taxation Office

payments are ineligible transactions so you will not earn points from them.


I hope this helps.


Cheers,

Charisse


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