HSBC - Platinum Credit Card
The HSBC Platinum Credit Card has an annual fee of $149. It comes with an introductory rate for new cardholders of 0% p.a. interest on balance transfers for the first 12 months. After this period the rate will revert to 21.99% p.a. This card has a rate of 19.99% p.a. on purchases and up to 55 days interest-free.
This card earns rewards points at a rate of 1.5 points per dollar spent on overseas purchase.
A purchase interest rate of 19.99% p.a.
Annual Fee
$0 for the first year reverts to $149 per year thereafter
Balance Transfer
0% for 12 months reverts to 21.99% p.a.
2% BT fee applies.
2% BT fee applies.
Purchase Rate
19.99% p.a.
Interest Free Period
up to 55 days
Details
Card Type
Visa
Minimum Repayment
3% or $20
per statement, whichever is greater
Interest Free Period
up to 55
days
Minimum Credit Limit
$6,000
Fees
Annual Fee
$0 for the first year
reverts to $149 per year thereafter
Late Payment Fee
$30
per statement
Cash Advance Fee
3% or $4
per transaction, whichever is greater
Additional Card Holder Fee
$0
Additional Card Holder Cap
up to 1
additional holders
Rates
Purchase Rate
19.99% p.a.
Cash Advance Rate
21.99% p.a.
Balance Transfer
Balance Transfer
0% for 12 months
reverts to 21.99% p.a.
2% BT fee applies.
2% BT fee applies.
Balance Transfer Limit
90%
per limit of credit limit
Balance Transfer Fee
2%
per transaction
Overseas Spending
Foreign Currency Conversion Fee
3%
per transaction
Eligibility
Minimum Age
18
years old
Minimum Income
$40,000
per year
Rewards
Program
Rewards Plus
Reward Rates
Rewards Rate One
1.5 point(s) per AUD$1
On eligible purchases
Perks
Complimentary Travel Insurance
Yes
Airport Lounge Access
Yes
Who is the product designed for?
The target market for the HSBC Platinum Credit Card is the class of persons who are consumers and who have the following likely objectives, needs and financial situation.
Needs and objectives
- Require a revolving credit facility with a convenient way to manage cash flow by having the ability to make regular or one-off purchases as well as perform other transactions.
- Access to a rewards program with the ability to earn HSBC Rewards Plus points on eligible purchases.
- Ability to consolidate credit card debts by utilizing a balance transfer facility to move balances from one or multiple non HSBC credit or store cards to an HSBC credit card.
- Access to complimentary insurance benefits.
- Access to card spend and security controls.
Financial situations
- Require a credit card facility with a limit of at least $6,000.
- Time to make repayments before incurring interest on purchases.
- Earn a regular income.
- Have a good credit rating and not be experiencing financial hardship or financial stress as identified through credit bureau checks carried out at the time of application.
- Be able to make at least the minimum repayment each month on their account without experiencing financial hardship.
- Likely to be able to repay their credit limit within 3 years without experiencing financial hardship.
Visit HSBC to view Target Market Determination Effective From: 2024-10-04.
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