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HSBC Platinum Credit Card - 0% for 36 Months on Balance Transfers, No BT Fee | $29 First Year Annual Fee


Hey Savers!

Sharing an exclusive deal for the HSBC Platinum Credit Card, which is offering a 0% balance transfer rate for up to 36 months, with no balance transfer fee, when you apply through Finder by 16 March 2021. It’s the longest balance transfer available on the market right now.

This is an ideal offer for people with existing debt who want to save on interest, as you'll get THREE YEARS of breathing room. The HSBC Platinum offers other perks, too. Including HSBC Reward Points, airport lounge passes and complimentary insurance covers.

Please note:

This offer is only available to eligible applicants who apply through Finder via: https://www.finder.com.au/hsbc-platinum-credit-card-exclusiv...

Features of this card
  • Long-term balance transfer offer. Save on interest charges with 0% p.a. on balance transfers for up to 36 months (with no balance transfer fee) when you apply through Finder by 16 March 2021. Any unpaid balance at the end of the introductory period will revert to the cash advance interest rate of 21.99% p.a.
  • Discounted first year annual fee. You'll save $100 in the first year with an annual fee of only $29. This goes up to $129 in subsequent years.
  • Rewards points. Earn 2 HSBC Reward Points per $1 spent overseas and 1 point per $1 on all other eligible purchases (capped at 10,000 points per statement period). Points can be redeemed for cashback on your card, merchandise and travel and accommodation through HSBC Rewards Plus. Alternatively, you can convert your reward points to Velocity Frequent Flyer points, with 2 Reward Points equal to 1 Velocity Point.
  • Complimentary insurance. When we can travel again, and you use your card to pay for at least 90% of the total cost of your overseas travel return ticket, you'll get complimentary international travel insurance. You can also make use of rental vehicle insurance excess cover, transit accident insurance, purchase protection insurance, extended warranty cover and a guaranteed pricing scheme.
  • Mobile payment technology. You can easily make payments from your smart device via Apple Pay and Google Pay.
  • Interest rate. This card charges a purchase interest rate of 19.99% p.a. and offers up to 55 days interest-free on purchases.
Eligibility criteria
  • At least 18 years of age
  • Annual income of at least $40,000
  • Good credit rating
  • New Platinum Credit Card application
  • Australian resident
  • Balance transfer must be requested upon application and you can transfer up to 90% of your available credit limit from credit and store cards not issued by HSBC.
  • Must apply via Finder

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closed Comments

  • HSBC is the only bank to reject my rewards card application due to "not meeting the credit criteria" be careful with applying for these guys

    • Even worse is that it lowers your credit score and you get punished for future applications. I am thinking of applying but will cancel an unused card first.

  • +1 vote

    annual fees are a killer, $287 ($29+$129+$129). IMHO you'd want to be transferring >15k+ for 36 months before considering this.

    • The fees aren’t too bad, even against a smaller loan. No loan setup fees, no need to secure it, no penalty of paying back faster etc

      15k loan
      2% loan over 36 months = 15827
      5% loan over 36 months = 16508.

      This card: 15287

      • correct. that's why i wouldn't do it for a lot less than 15k. The setup costs of a fixed annual fee make it too expensive, subject to what you're transferring it from, ie. home loan.

    • Considering the interest you'd be saving overall, $287 in fees (while it still sucks) will inevitably beat the monthly compound interest on a sizeable debt.

  • Only if they can do balance transfer via check pleaseee

  • +5 votes

    Things are getting tougher day by day. I asked for a car loan and learnt surprising new things: (please don't shoot me. below info is given to me by 2 different finance guys. I am just sharing it)

    Finance companies have set minimum monthly expenses:

    Couple with 2 kids: $3700 - $3900
    Couple with 1 kids: $3300 - $3400
    Couple with no kids: $2900 - $3100
    Single: $1700

    They ignore what you write on the application form for monthly expenses if the number is less than above numbers. Monthly expensive is excluding mortgage, rent, child care fees and private health insurance costs.

    So simple calculation here:

    Couple with 2 kids (which I am): $3700 monthly expenses + $2400 for mortgage = $6100 per month

    Plus new car payments on top: $150 per week = $600 per month so new total is $6700 per month

    You should be on $110k + super annual salary to be able to get $6700 net per month into your account.

    However, just earning this much doesn't get you approved for the loan. There has to be some breathing space so maybe you should be on $120k salary

    Look, no debt apart from mortgage payments. No credit card payment, no other loan. Still I couldn't get the approval. My credit score is in "Very good" bracket.


  • is there a cap for the balance transfer? can I transfer $50k?

    • The cap is you can only transfer %90 of the card limit. So to be able to transfer $50k you need a credit card with $55k limit minimum.

  • Are you able to transfer personal loans to the card is this allowed ?

  • What's the highest limit that they would usually grant on this card ?

    • Unfortunately I don't have access to that information. Credit limits are assigned on an individual basis based on creditworthiness. The minimum available credit limit for this card is $6,000. I hope that helps.

  • If I apply for this credit card with an expectation of $xx,000 limit… and if the bank doesn’t agree with the limit will they reject immediately or will they call me to ask whether I agree to a lower limit?