HSBC Platinum Qantas Credit Card

The HSBC Platinum Qantas credit card may not be the perfect choice for every consumer. However, its many benefits make it an attractive option, especially if you can put a lot of your monthly spend through the card and travel on a regular basis. With a frequent flyer program, the ability to earn points on every dollar spent, and reasonable fees and rates, this Qantas linked credit card has become a favourite of everyday users who enjoy travelling.

Benefit of the Card’s Best Features?

Before you apply for any credit card it is essential to learn more about its best features. Once you know more about the features and how they benefit you, it is easier to make a decision. With the HSBC Platinum Qantas credit card you will quickly realise that there are quite a few features to take advantage of.

As soon as your account is opened, the HSBC Platinum Qantas card will begins to pay off. Upon signing up, you are credited with 20,000 QFF points. Once you have these points in your account, you are well on your way to earning your first free ticket or upgrade.

At home in Australia, the card’s points earn rate is in line with many of the other Qantas credit cards linked on our website ($1 = 1 QFF point. You will earn two QFF points for every $1 spent on eligible overseas purchases, which means you’ll be able to earn points when ordering from international stores like Abercrombie & Fitch in the USA and Mulberry in the UK. Regardless of where you are in the world, you are in position to collect points.

Some banks neglect the customer’s experience by providing only the bare minimum of support. You never have to worry about this when you carry HSBC’s Platinum Qantas credit card. Instead, you will have access to a team of support staff who are available on a priority 24 hour basis. No matter where you are in the world or what time it is, if you want to check on your account, just lift the phone and call.

What about the rates associated with this credit card? When compared to other cards linked with the Qantas Frequent Flyer program, the HSBC Platinum Qantas is quite competitive. The rates associated with this card are as follows: purchase rate of 20.99% p.a., cash advance rate of 21.99% p.a., and a balance transfer rate of 0% p.a. for 6 months. These standard rates are about what you would expect from a frequent flyer card.

Are There Any Drawbacks?

You can’t realistically expect any credit card to be perfect – they just don’t exist. Fortunately, there are only a couple of minor drawbacks to be aware of with this particular card.

Above all else, you should be comfortable paying a $199 p.a. annual fee if you are going to carry this card. This fee is higher than the market’s average annual fee, and is still a little higher than the normal annual fee for a frequent flyer card. However, you do get a lot in return for your money.

Another drawback is a minimum required income of $60,000 for applicants. If you do not earn this much money you are not eligible for the HSBC Platinum Qantas credit card. Instead, you will have to opt for a card with a lower income threshold, which may or may not be as rewarding.

The card’s balance transfer offer also leaves room for improvement at 0% p.a. for 6 months. However, compared to other Qantas credit cards, this is reasonably competitive. If you need to switch cards to reduce your interest repayments, then look for a card with a better balance transfer offer, pay off your debt and then apply for a frequent flyer card. There’s little point earning points when you’re carrying a substantial debt from month to month and paying 20.99% p.a. on it as the value of the QFF points will simply vanish.

Who Would be Suited?

Anybody over the age of 18 years old with good credit and an annual income of at least $60,000 would be well suited to consider the HSBC Platinum Qantas credit card. However, this card is really for those who spend a lot on their card each month and pay it off in full to avoid paying interest.

Who is Eligible?

The minimum age for applying for the HSBC Platinum Qantas credit card is 18 years old. Along with this, you must have good credit and earn a minimum of $60,000 per year to be eligible.