The HSBC Group, one of the biggest providers of banking and financial services globally, includes HSBC Bank Australia Ltd. (HSBC). The Australian division belongs to the HSBC Group and is a subsidiary of The Hong Kong and Shanghai Banking Corporation Limited.
On five continents, they have offices and branches. Trade finance, electronic banking, investments, securities custodians, and personal financial services are among the businesses that operate in Australia.
They currently have access to savings accounts, credit cards, investments, insurance, mortgages, and personal loans as part of their comprehensive spectrum of personal finance.
The mid-tier Qantas Frequent Flyer product from HSBC is the HSBC Platinum – Qantas credit card. The card offers premium features like insurance and has a competitive, uncapped points gain rate. The program also has a $99 annual charge, which includes up to 55 days of interest-free credit.
This card is best suited for someone who wants to get rewarded for their spending, given its main attributes. Other perks include no additional cardholder fees and Overseas Travel and Medical Insurance, which is comparable to comparable products.
The HSBC Platinum – Qantas credit card currently has a bonus Qantas Points promotion that could earn you up to 20,000 bonus Qantas Points in the first year. Additionally, there is a special 12-month balance transfer offer with 0% APR on the product. Notably, there is no fee for balance transfers, which is an important advantage. Before applying, you should be informed of the eligibility requirements to qualify for this offer.
With the HSBC Platinum Qantas Credit Card, you may earn up to 1 Qantas Point for every $1 spent on eligible domestic and international transactions, as well as a free Qantas Frequent Flyer membership. Additionally, Qantas offers double points on purchases.
Additionally, you’ll get access to HSBC Instant Savings, free international travel insurance, and the free addition of a second cardholder, among other money-saving benefits.
Key Features
- When you consider your upcoming holiday, the HSBC Platinum Qantas Credit Card and its $1 to 1 Qantas point rewards program will make you happy. Be warned that after $1,000 in a particular statement period, the earning rate does decrease to 0.5 points for every $1 spent.
- All of the points you accumulate are applied to the Qantas rewards program and can be used to purchase tickets and items from the Qantas shop. Even better, you can earn points toward your future ticket when you pay for your most recent trip since you’ll get a bonus point for every dollar you spend on certain Qantas products!
- Along with the rewards we’ve just discussed, when you make an eligible purchase within three months, you’ll also get two free invitations to the Qantas Club lounge and a free concierge service.
- If you pay your balance in full and on time each month, the HSBC Platinum Qantas Credit Card also has a $99 annual fee, an introductory 0% balance transfer offer (for the first 12 months), and a 55-day interest-free period for new purchases. However, you’ll want to make sure you do so to avoid the 19.99% purchase rate and $30 late payment fee.
- Although your card comes with payWave and Checkout as part of the Visa network and you’ll also have access to the premium HSBC home&away program, the 3% foreign exchange margin isn’t the lowest on the market.
- Or the introductory 0% balance transfer offer should work if you’re trying to get rid of debt. Just be sure to utilize it during the first year, as after that it reverts to the high cash advance rate of 21.99%.
Pros
- Earn 20,000 additional Qantas Points once the requirements are met.
- Get up to 1 Qantas Point for every dollar spent.
- Includes free purchase insurance and travel insurance.
- You receive a free membership to the Qantas Frequent Flyer program.
- Add more cardholders without cost.
- Up to 55 days without interest.
Cons
- There is a 7,500 Qantas Point limit per statement period.
- Ongoing $ 99 annual charge each year.
- There are high ongoing interest rates.
Benefits
- Take advantage of Australia’s Rental Vehicle Excess Insurance, Transit Accident Insurance, Extended Warranty Insurance, and Purchase Protection Insurance for domestic and international travel.
- Insurance coverage for Covid-19 claims this link may appear in a new window when you select it.
- Benefits of international travel insurance10 Days with no interest up to 55 days.
- Let someone else benefit free of charge. (Additional fees can apply.)
- You are now able to manage your card. You can easily set limits on your transactions by amount, type, or country/region by logging into Online Banking.
- Apple Pay and Google PayTM can be used wherever contactless payments are accepted, including online and in-person at participating businesses.
Why opt for it?
Value alone will determine whether you choose this card or not. You must ensure that your yearly price will be worthwhile, either in terms of the rewards points you receive or the features you often use.
In terms of perks, the HSBC Platinum Qantas Credit Card has a lot to offer, including free Qantas Frequent Flyer membership, free foreign travel insurance, free purchase protection, and a free extended warranty.
As a bonus, cardholders receive one free additional cardholder, a 24/7 Personal Concierge, up to 55 days of interest-free financing on purchases, and access to HSBC Instant Savings, which gives them access to more than 4,500 offers at partner merchants throughout Australia and New Zealand each time they use their credit card.
Earning Qantas points
The only other credit cards that earn 1 Qantas Point for every dollar spent are the HSBC Platinum Qantas Visa, the Qudos Bank Platinum Visa, the Macquarie Platinum Visa, and the Woolworths Qantas Platinum cards.
If you’re looking for a credit card that earns 1 Qantas point for every $1 spent on it, you’ll need to consider whether the included insurances, interest-free periods, and other soft perks are significantly different from one another for you.
It will also be wise to take into account the sign-up bonuses that are currently being offered by each since these will probably have a significant impact on the number of frequent flyer miles you can earn from applying for and using the card in the long run.
Conclusion
This is not a card for big spenders because the earn rate decreases after the first $2,500 in monthly spending. However, if you enjoy watching your Qantas Points balance increase regularly, this card is one you should give serious thought to.
For new cardholders of the HSBC Platinum Qantas Credit Card who spend $3,000 or more on eligible transactions within the first 90 days of card acceptance, 20,000 Qantas Points are offered. Earns 1 Qantas Point for every dollar spent, with a cap of 1,000 points per month. For a recurring yearly cost of $99, it also includes travel and purchase insurance.
The HSBC Qantas Platinum offering’s value is derived from its cheap annual fee and reliable 1 point per $1 earn rate, with a “soft cap” over the $1,000 monthly earning threshold where you can continue collecting points, albeit at a slower rate, up to 7,500 points per statement period.
A stylish rewards card with a generous bonus of 20,000 Qantas Points, 12 months of 0% p.a. on balance transfers, a respectable earning rate, and a host of appealing features.