The HSBC Platinum Qantas card has 20,000 bonus Qantas Points and 0% p.a. Balance Transfer for 12 months on offer for new cardholders.
Digging into the details
|HSBC Platinum Qantas Credit Card
|Qantas Frequent Flyer
|Points earned from spend
|Earn 1 Qantas Point per $1 spent up to $1,000 per statement period on eligible purchases made in Australia and overseas. Every $1 spent thereafter will earn 0.5 Qantas Points up to 7,500 Qantas Points
|$1,000 per statement period then drops to 0.5 points up to 7,500 points per statement period
|Extended Warranty, Purchase Protection, and Domestic & International Travel Insurance (PDS)
|Overseas transaction fee
|3% of the converted amount
|Minimum income requirement
|Apple Pay, Google Pay
Earning Qantas Points with the HSBC Platinum Qantas Credit Card
The HSBC Platinum Qantas Visa is left alongside only a few other 1 Qantas Point per dollar-earning Visa or MasterCard credit cards, such as the Qudos Bank Platinum Visa, Macquarie Platinum Visa and Woolworths Qantas Platinum cards.
When it comes to points earn, these cards are all quite similar, so you’ll be assessing whether the included insurances, interest-free periods and other soft benefits make a material difference to you if you are looking for a 1 Qantas point per $ earning card.
It will also be worth considering the sign-up bonus on offer at any given time with each as this would likely make a large difference to how many frequent flyer points you can rake in from both applying for and then using the card ongoing.
The key restriction with the HSBC Qantas Platinum Visa is the $1,000 per month cap (used to be $2,500 per month) for earning 1 Qantas Point per $1. However, if you are using this card as a separate Visa/MasterCard back up to an American Express with higher or uncapped points earn, like the Qantas Ultimate or Qantas Premium, then you may not get near to this cap.
If you spend over the $1,000 cap, then points earned are not reduced to nothing – you will still pick up 0.5 Qantas Points per $ on spend up to a maximum of 7,500 points per statement period.
HSBC Apple Pay & Google Pay support
The value of the HSBC Qantas Platinum offering comes from the low annual fee and a solid 1 point per $ earn rate, with a ‘soft cap’ over the $1,000 monthly where you can keep earning points, albeit at a lower rate up to 7,500 points per statement period.
The included insurances may also be worthwhile looking into to see if they offer any value to you – the policy includes Extended Warranty, Purchase Protection, and Domestic & International Travel Insurance. You can read the full PDS here.
This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.