HSBC

Platinum Credit Card (Bonus Points Offer)

Purchase Rate

Purchase Rate

19.99%

Balance Transfer Rate

Balance Transfer Rate

21.99%

Annual Fee

Annual Fee

$129

Max Free Days

Max Free Days

55

Late Payment Fee

$30

Purchase Rate

Purchase Rate

19.99%

Balance Transfer Rate

Balance Transfer Rate

21.99%

Annual Fee

Annual Fee

$129

Max Free Days

Max Free Days

55

Late Payment Fee

$30

Pros and Cons

Pros and Cons

  • Rewards Available through HSBC Rewards Plus Program
  • Bonus 84,000 points subject to eligibility conditions
  • Free domestic travel insurance
  • Free international travel insurance
  • Free supplementary cards
  • Purchase protection insurance
  • Price guarantee
  • Extended warranty
  • Rental car excess insurance
  • Concierge
  • Partner discounts
  • Airport lounge
  • Late payment fee

Features and Fees

HSBC Features and Fees

Details

Card Level

Platinum

Card Type

Visa

Interest Free Days

Interest Free Days

55

Minimum monthly repayment

3% or $20

Minimum credit limit

$6k

Maximum credit limit

No set max

Free supplementary cards

Number free supplementary

5

Instant Approval

Fees

Annual Fee

Annual Fee

$129

Annual Fee Spend Waiver

Supplementary card annual fee

$0

Late Payment Fee

$30

Over limit fee

$30

Duplicate statement fee

$8

Electronic Wallet Service

Important Rates

Rates

Purchase Rate

Purchase Rate

19.99%

Cash advance rate

21.99%

Cash advance fee

3% or $4

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

21.99%

Transfer Limit

90%

of the approved credit limit

Balance Transfer Fee

$0

Overseas spending

Foreign Exchange Fee

3% on Visa

Overseas charges

Overseas charges

$4

Estimated ATM Cost

$13

for AU $300 withdrawal

Rewards

Program name

HSBC Rewards Plus Program

Rewards Available

Gift Card, Cash Back

Eligibility

Minimum age

18

Minimum income

$40k

Eligibility conditions

Residency

Australia Citizen, Permanent Resident

Earn Rates

RateCard TypeEarnsCondition
2 points for $1 spentVisaUp to $10k monthlyeligible international purchases
1 point for $1 spentVisaUp to $10k monthlyeligible domestic purchases

Perks

  • FREE DOMESTIC TRAVEL INSURANCE You must pay an excess of A$200 for each claim
  • FREE INTERNATIONAL TRAVEL INSURANCE You must pay an excess of A$200 for each claim other than the replacement of travel necessities. If you make more than one claim from a single event, the excess only applies once.
  • FREE SUPPLEMENTARY CARDS
  • PURCHASE PROTECTION INSURANCE Covers with a $100 excess
  • PRICE GUARANTEE If you purchase personal goods in Australia and then find the same product advertised later at a cheaper price, you can claim back the difference if it is more than $75.
  • EXTENDED WARRANTY Warranty is extended for the same duration as the original warranty up to 1 year.
  • RENTAL CAR EXCESS INSURANCE
  • CONCIERGE
  • PARTNER DISCOUNTS
  • AIRPORT LOUNGE 2 per year
Specials
  • Bonus Points 84,000 Bonus Rewards Plus Points when you spend $3,000 on eligible purchases using your new card within 90 days from card approval. That’s enough for $350 in e-Gift Cards. New Rewards Plus customers only.1
    To be eligible for the bonus Rewards Plus Points offer, you must apply and be approved for a new HSBC Platinum Credit Card. You will receive 84,000 bonus Rewards Plus Points if you spend $3,000 on eligible purchases within 90 days of card approval. Eligible purchases exclude interest free and other promotions, balance transfers, cash transfers, business expenses, cash advances, fees and charges, BPAY®, any disputed transactions and government fees and charges. The 84,000 bonus Rewards Plus Points will be credited to your Rewards Plus Account within 60 days of meeting the spend criteria, provided that your account is active and not in arrears. Offer is limited to new applicants only. Existing HSBC customers transferring from another HSBC credit card or customers who have held any Rewards Plus card types within the last 12 months are ineligible for this offer. Not available in conjunction with any other offer. Gift Card values correct as at 3 November 2020. Points values & stock levels subject to change. Check hsbc.com.au/rewards/

Other Benefits

84,000 Bonus Rewards Plus Points when you spend $3,000 on eligible purchases using your new card within 90 days from card approval. That’s enough for $350 in e-Gift Cards. New Rewards Plus customers only.

Other Restrictions

Eligible purchases exclude interest free promotions, balance transfers, business expenses, cash advances, fees or charges, any disputed transactions, and any government fee or charge.

Pros and Cons

  • Rewards Available through HSBC Rewards Plus Program
  • Bonus 84,000 points subject to eligibility conditions
  • Free domestic travel insurance
  • Free international travel insurance
  • Free supplementary cards
  • Purchase protection insurance
  • Price guarantee
  • Extended warranty
  • Rental car excess insurance
  • Concierge
  • Partner discounts
  • Airport lounge
  • Late payment fee

HSBC Features and Fees

Details

Card Level

Platinum

Card Type

Visa

Interest Free Days

Interest Free Days

55

Minimum monthly repayment

3% or $20

Minimum credit limit

$6k

Maximum credit limit

No set max

Free supplementary cards

Number free supplementary

5

Instant Approval

Fees

Annual Fee

Annual Fee

$129

Annual Fee Spend Waiver

Supplementary card annual fee

$0

Late Payment Fee

$30

Over limit fee

$30

Duplicate statement fee

$8

Electronic Wallet Service

Important Rates

Rates

Purchase Rate

Purchase Rate

19.99%

Cash advance rate

21.99%

Cash advance fee

3% or $4

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

21.99%

Transfer Limit

90%

of the approved credit limit

Balance Transfer Fee

$0

Overseas spending

Foreign Exchange Fee

3% on Visa

Overseas charges

Overseas charges

$4

Estimated ATM Cost

$13

for AU $300 withdrawal

Rewards

Program name

HSBC Rewards Plus Program

Rewards Available

Gift Card, Cash Back

Eligibility

Minimum age

18

Minimum income

$40k

Eligibility conditions

Residency

Australia Citizen, Permanent Resident

Earn Rates

RateCard TypeEarnsCondition
2 points for $1 spentVisaUp to $10k monthlyeligible international purchases
1 point for $1 spentVisaUp to $10k monthlyeligible domestic purchases

Perks

  • FREE DOMESTIC TRAVEL INSURANCE You must pay an excess of A$200 for each claim
  • FREE INTERNATIONAL TRAVEL INSURANCE You must pay an excess of A$200 for each claim other than the replacement of travel necessities. If you make more than one claim from a single event, the excess only applies once.
  • FREE SUPPLEMENTARY CARDS
  • PURCHASE PROTECTION INSURANCE Covers with a $100 excess
  • PRICE GUARANTEE If you purchase personal goods in Australia and then find the same product advertised later at a cheaper price, you can claim back the difference if it is more than $75.
  • EXTENDED WARRANTY Warranty is extended for the same duration as the original warranty up to 1 year.
  • RENTAL CAR EXCESS INSURANCE
  • CONCIERGE
  • PARTNER DISCOUNTS
  • AIRPORT LOUNGE 2 per year
Specials
  • Bonus Points 84,000 Bonus Rewards Plus Points when you spend $3,000 on eligible purchases using your new card within 90 days from card approval. That’s enough for $350 in e-Gift Cards. New Rewards Plus customers only.1
    To be eligible for the bonus Rewards Plus Points offer, you must apply and be approved for a new HSBC Platinum Credit Card. You will receive 84,000 bonus Rewards Plus Points if you spend $3,000 on eligible purchases within 90 days of card approval. Eligible purchases exclude interest free and other promotions, balance transfers, cash transfers, business expenses, cash advances, fees and charges, BPAY®, any disputed transactions and government fees and charges. The 84,000 bonus Rewards Plus Points will be credited to your Rewards Plus Account within 60 days of meeting the spend criteria, provided that your account is active and not in arrears. Offer is limited to new applicants only. Existing HSBC customers transferring from another HSBC credit card or customers who have held any Rewards Plus card types within the last 12 months are ineligible for this offer. Not available in conjunction with any other offer. Gift Card values correct as at 3 November 2020. Points values & stock levels subject to change. Check hsbc.com.au/rewards/

Other Benefits

84,000 Bonus Rewards Plus Points when you spend $3,000 on eligible purchases using your new card within 90 days from card approval. That’s enough for $350 in e-Gift Cards. New Rewards Plus customers only.

Other Restrictions

Eligible purchases exclude interest free promotions, balance transfers, business expenses, cash advances, fees or charges, any disputed transactions, and any government fee or charge.

FAQs

Do I get HSBC credit card insurance on purchases I make?

As an HSBC credit card (HSBC Platinum, HSBC Platinum Qantas and HSBC Premier World) cardholder, you may be entitled to complimentary international and domestic travel insurance. This HSBC credit card insurance covers you for hospital stays and medical expenses, flight cancellations or delays, as well as lost luggage or personal items.

To be eligible for the insurance, you should have paid for at least 90 per cent of your overseas return travel ticket with your HSBC credit card. The cover is automatically activated without a need to contact HSBC. However, it’s always best to let your card issuer know when you travel overseas. If you have pre-existing medical conditions, you’ll need to contact Allianz directly to organise cover for these as they aren’t covered by the insurance. You can call Allianz on 1800 648 093.

The complimentary international travel insurance that comes with your HSBC Platinum credit card is valid for up to four months from the date of your departure from Australia. Your HSBC credit card insurance cover also covers your spouse and dependent children if 90 per cent of their travel ticket is purchased using your HSBC card.

 

How to apply for an HSBC credit card instalment plan?

HSBC provides a host of different features and benefits to its customers, including interest-free finance options for purchases made at select retailers.

Using this feature, you can make a purchase in-store or online through your credit card, and spread your repayments for up to 60 months. Opting for a credit card instalment plan may be an ideal option as you can make big purchases without worrying about making immediate payments. 

The interest-free instalment plan is valid for all HSBC credit cards, so you shouldn't need to fill out separate forms or apply for a particular plan. Rather, all you should need to do is use your HSBC credit card at any of the participating retailers and inform the vendor that you want to pay using HSBC interest-free. 

As HSBC has partnered with over 1,000 retailers for its interest-free credit card instalment plan, you get the flexibility to purchase a host of different products. Some of the popular retailers that HSBC allows instalments for are: 

  • Webjet 
  • King Furniture 
  • Betta Home Living
  • Stratco 
  • Video Pro 
  • Bing Lee

Once you have provided approval to the vendor, HSBC will send you an SMS asking you to confirm the purchase, following which the payment will go through, and you can select your preferred instalment plan. 

While you may be inclined to choose the most prolonged duration for repayment considering there are no interest charges, it’s important to know that minimum monthly repayments will still apply (3%, or $30, whichever is higher), making it important to choose the right HSBC credit card instalment plan that suits your requirements. 

How do I increase my Suncorp credit card limit?

You can ask Suncorp to increase your credit card limit  by contacting  131 155 or by visiting your nearest branch. You’ll have to meet Suncorp’s credit criteria and general terms. For example, you may not receive an increase in your limit if you have successfully applied for one or in the past nine months. Similarly, the bank will look at whether you’ve applied for other credit products recently. 

When assessing your application for a credit increase, banks look at a range of criteria, such as your income and your spending and repayment history. Usually you’ll hear back within a couple of weeks. 

How to increase your Qantas Premier credit card limit

When your income or spending habits change, you might wish to increase your credit card limit. The Qantas Premier credit card allows you to do this over the phone. You can contact Qantas Premier Card Support by calling on 1300 992 700. Unlike some other credit providers, Qantas doesn’t give you the option to increase your limit online.

Qantas will only accept your application if you have a good history of repayment and have not increased your credit or bought another credit product from Qantas in the past six months.

Before approving your Qantas Premier credit card limit increase, Qantas will perform a credit assessment on your current financial circumstances and ask why you would like to increase your credit limit.

To ensure that there are no bumps in your application process, you must provide accurate and recent information about your financial situation. You should also account for any future changes you’re anticipating which could hinder your ability to repay the loan.

Once the assessment is complete, Qantas will either approve or deny your application. If they approve it, you will need to sign a credit limit increase agreement - and you can request a written copy of the credit assessment. However, if your application is rejected, Qantas can opt not to provide a copy of the assessment.

How to increase your HSBC credit card limit

You can opt to increase your HSBC credit card limit in multiple ways. 

The easiest way to change your HSBC credit card limit is through online banking. Log on to your account and click on ‘Manage your account’. Then, click on ‘My Cards’ and choose to change your credit card limit. Simply complete the HSBC credit card limit increase form and click on ‘Submit’. 

You can also request to increase your credit card limit by calling HSBC’s customer service hotline on 1300 303 168. 

Lastly, you can visit any HSBC branch to apply to lift your card limit. 

If you are facing challenges while trying to complete an HSBC credit card credit limit increase online, you can chat with a representative using internet banking. Click on the ‘Need Help’ button on the right of the dashboard and open the chat window to speak with the customer service officer. 

What is the CUA credit card increase limit process?

A credit limit is pre-assigned based on factors like your income, expenses, and debt by the card-issuing company. It varies from time to time based on credit utilisation and changes to your circumstances.

If your income has increased or your liabilities have reduced, you can request for an increase of your CUA credit card limit. You can lodge the request via online banking on the website, or by visiting the closest branch, or by downloading the application form and mailing it. While making the application, you may need to provide information about your income, employment status, desired limit, and the reason for the increase. The card-issuing company will assess your request before approval.

Before you apply for an increase to the credit limit, ensure your bills are paid in full and you aren’t asking for a very steep enhancement.

What is the American Express credit card insurance coverage?

Several American Express credit cards, including the Gold, Platinum and Green cards, come with international and domestic travel insurance, shopping and purchase protection and smartphone screen insurance. All you have to do to activate your American Express credit card insurance cover is use it to pay for eligible purchases, travel, and a smartphone.

The complimentary travel insurance requires you to be less than 80 years old with no pre-existing diseases and your travel must begin and end in Australia.

To make an American Express credit card insurance claim, you’ll need to lodge your request with Chubb Claim Centre within 30 days. Submit the form along with supporting documents like medical reports, original invoices and receipts. You can also contact Chubb on 1800 139 149 or file a claim via the Chubb website.

Do I qualify for Bank of Melbourne credit card insurance?

You may be eligible for transit accident insurance, purchase security insurance, and extended warranty no matter which type of Bank of Melbourne credit card you own. 

Some credit card customers may get coverage for international or domestic travel insurance, rental vehicle excess in Australia, and price guarantee as well. 

However, the exact terms of the insurance coverage can differ based on the specific credit card. For instance, if you buy any personal items with a Level 1 credit card, your purchase security insurance may be valid for up to four months from the purchase date. For someone with a Level 2 credit card, such coverage may only be available for three months. 

Can I transfer money from a credit card to a bank account with HSBC?

With HSBC’s cash transfer function, you can transfer money from a credit card to a bank account. Customers who wish to make cash transfers have to apply through HSBC and are charged interest on the transactions, but no other fees. Under the program, customers can:

  • Borrow between $500 and $15,000, so long at least 20 per cent of the credit limit is still available after the transfer
  • Transfer to any nominated bank account quickly. 


Registered HSBC online banking users can log in to their accounts and select credit cards online from the My Banking tab. They can then complete the form from the Cash Transfer option. On approval, the requested amount is transferred to the nominated bank account within three days.

Customers can also register for the cash transfer program via the Mobile Banking app. Don’t forget to check the interest rate you’ll be charged, both before and after any promotional period.

How does the ANZ credit card instalment plan work?

While you usually need to settle all or part of your credit card dues at the end of your statement period, some credit cards afford you the option of setting up instalment plans. This allows you to settle your credit card debt at a pace that's more convenient for you, paying a fixed amount over a fixed period, thus making it easier to budget your repayments every month.

With the ANZ credit card instalment plan, you can set up a structured repayment schedule for part or all of your balance, or even for specific purchases over a certain value.

Some of the benefits of instalment repayment include: 

  • Structured repayments: You’ll have a fixed sum to pay each month.
  • Easier to budget: A fixed repayment sum makes it easier to make your monthly budget.
  • Account benefits: You might also get benefits such as discounted interest rates or debt-tracking tools.

There are disadvantages of opting for instalment repayment, however, and they include:

  • Less flexibility: You will not be able to pay a smaller amount once you set an instalment plan.
  • Different interest charges: In case the instalment plan only covers part of the balance, different interest charges could apply, making it challenging to budget.
  • Additional fees: You might have to pay fees or penalty charges in case of missed payments.

How to increase your Bendigo Bank credit card limit?

As a Bendigo Bank credit cardholder, you can avail a minimum limit of $500, but if you use your card regularly, you may want to consider increasing it. To increase your Bendigo Bank credit card limit, you can contact the bank’s credit card team on 1300 236 344 and talk to the bank directly.

You can also apply for a credit card limit increase through online banking, by logging into Bendigo Bank web portal or through the app on your phone or tablet. Once you’ve successfully logged in, you'll want  to send a secure message to Bendigo Bank asking them to increase your credit card limit. 

If you cannot access the online portal or the app, you can also apply to increase your credit card limit through the online enquiry form. Simply add relevant information in the required fields and click ‘Submit’. Once you have completed the application, Bendigo Bank should verify your details and analyse your current financial standing. Based on this assessment, the bank will either accept your application to increase your credit card limit or deny it. 

Does Bendigo Bank offer credit card insurance?

No matter which type of Bendigo Bank credit card you own, you may qualify for complimentary purchase protection insurance, extended warranties, and best price guarantee. 

If you are eligible for one or more of these complimentary insurances, you won’t need to activate them separately. Consider checking the coverage limits as well as the terms of purchase to find out if they apply to your purchases. For instance, the annual coverage limit under Bendigo Bank’s purchase protection insurance for one type of credit card is $25,000. However, the coverage limit per item is $5,000, and you may have to pay an excess of $250 every time you file a claim.

Some Bendigo Bank credit card customers may also qualify for mobile device insurance, which covers the accidental damage to or loss of your phone. Again, the coverage limit varies for repairing or replacing your phone,compared to repairing accidental damage to your phone’s screen. Other complimentary insurance offered by Bendigo Bank on some credit cards includes coverage for overseas travel, domestic flight inconvenience, and transit accidents. If you rent a car using an eligible Bendigo Bank credit card, you may be able to get a waiver on the car rental excess as well. 

How do I transfer money from my Commonwealth bank credit card to my bank account?

Your Commonwealth bank credit card may include a cash advance benefit, but you won't be able to transfer money to your bank account. 

You can, however, withdraw cash from your credit card at an ATM. You should remember that you have to pay a fee for such transactions, and you’ll be charged interest from the day you withdraw the cash. 

Unlike other credit card transactions, you don’t get an interest-free repayment period for cash advances. Also, you may not be able to access your full credit card limit for a cash advance.

What does Westpac credit card insurance cover?

If you own a Westpac credit card, one of the perks may be  free travel insurance. If you’re eligible, you may be covered if you get sick while travelling, have lost your luggage, have to cancel a trip or have an accident while you’re on the move.

Besides these standard inclusions, the Westpac credit card insurance policy may also cover you for hospital essentials, emergency dental treatment and alternative transport if your original plans go awry. It may also cover loss of income when you get back home after being sick  overseas and your pets’ boarding costs too.

If you have any queries, the Westpac credit card insurance contact number is 1800 091 710. You can submit a claim online.

 

Can I use PayPal to transfer from a credit card to a bank account?

You can easily link your credit card to your PayPal account. When you need to make a payment, PayPal makes an instant transfer from your bank account, provided you’ve linked and confirmed your credit card details.For credit card holders, you can transfer funds from eligible cards listed in the “Instant” section of the money transfer page.

Here is how you can transfer money from PayPal to your bank account:

  1. On the “My Wallet” tab, select “Transfer Money” and then click on the “Transfer to your bank account” option.
  2. Choose the bank account where you want to transfer the money and click “Continue.”
  3. Enter the amount, review and click “Transfer Now.”
  4. When you confirm the transfer, the amount should be moved to the bank account linked from the chosen credit card.

How to increase my Commonwealth credit card limit?

Commonwealth Bank credit cards are extremely popular in Australia for everyday purchases and big ticket items alikers. A number of the card’s functions can be customised, depending on your needs and desires. If you wish to increase your Commonwealth credit card limit using the CommBank, you can usually do so on the app or via NetBank.

In the CommBank app, tap on the ‘Cards’ icon and choose your credit card. Then, click on ‘Credit Limit’ and select the ‘Increasing your limit’ option. If you don’t have the CommBank app, you can also increase your Commonwealth Bank credit card limit through NetBank. Simply log on and go to Settings, then click on ‘Product Requests’ and then choose ‘Credit Card Limit Changes’. 

Once the bank has received your application, they will review your account and payment history. Based on this assessment, your application will either be approved or denied. If approved, your new limit will be applied to your card instantly. 

While increasing your credit card limit may be an easy process, it’s important to remember that you should only request limits that you can manage. A high limit increases the risk of having a larger debt, even with cards that provide low-interest rate options. So, it’s important to think carefully and seek advice from people you trust before increasing your Commonwealth Bank credit card limit.

Can I transfer money from my American Express credit card to my bank account?

If you’re an American Express credit card customer, you may not be able to transfer money from your credit card to your bank account. However, you may be eligible for cash advances, which involves withdrawing money through an ATM. 

To qualify for a cash advance, you’ll likely have to enrol for American Express Membership Rewards. Consider checking your online credit card account to see if you can withdraw a cash advance and, if so, the fees and charges you’ll incur for this transaction. 

You should remember that cash advances are different from balance transfers, which were available with some American Express credit cards earlier. Balance transfers allow customers to consolidate debt from high-interest credit cards to a credit card offering a lower interest rate. If you only recently applied for an American Express credit card, balance transfers may not be available irrespective of the card you own. 

Who is eligible for Bankwest credit card insurance

Bankwest offers complimentary overseas travel insurance to its Gold MasterCard, Platinum MasterCard and World MasterCard cardholders. Eligible Gold and Platinum MasterCard customers are covered for up to 31 consecutive days of travel, while the World MasterCard holders are covered for six successive months.

To receive the complimentary Bankwest credit card insurance, cardholders need to:

  • Be under 80 years old
  • Be travelling to a foreign destination
  • Not have a cancelled or suspended card.


The complimentary insurance is also available to spouses and children if they travel with you for the entire period. The level of cover depends on the type of card and its  credit limit. Some of the standard types of cover include:

  • Overseas emergency medical assistance
  • Personal liability
  • Accidental demise
  • Baggage and personal goods.


It’s important to remember that pre-existing conditions are not covered by the complimentary Bankwest credit card insurance. Other terms and conditions also apply. 

If you are an eligible cardholder and need to make a claim, it can either be done online or by calling +612 8907 5615. 

How to increase your Heritage credit card limit?

Heritage credit card holders can increase their card limits, and typically without any hassles. There are two limits applied to your credit card: your account transfer limit and your credit card limit, each of which has a separate limit.

To increase your Heritage credit card limit, you can contact Heritage on 13 14 22. Unfortunately, you cannot opt to increase your credit card limit online due to security reasons. 

You can, however, request to increase your daily account transfer limit and BPAY® to up to $40,000 per day easily through Heritage Online. To do this,  you'll need to first ensure that your credit card limit is more than $40,000. If it is lower, you’ll need to first ask Heritage for an increase in your credit card limit. 

  • It’s important to note that once you change your credit limit, the daily periodic rate and corresponding annual percentage rate will change as well. This is likely to come into effect on the first day of each billing cycle that begins in March, June, September, and December. The effect of an increase in the annual percentage rate and the daily periodic rate will lead to an increased amount of interest you will have to cover in your monthly payment. 

How can I get a Woolworths store card credit limit increase?

If you are looking to increase the credit limit on your Woolworths card, you can call 1300 101 234 to make an application. You will need to have held your Woolworths credit card account for at least six months before asking to increase your limit. 

As with most credit limit increase applications, your financial situation and spending history will be reviewed in order to assess whether your new requested credit limit is appropriate. After the assessment, Woolworths will let you know whether or not you’ve been approved.