Point Hacks Credit Card Guide

$0 annual fee for the first year with the HSBC Platinum Qantas Credit Card

HSBC are offering $0 annual fee for the first year ($79 p.a. ongoing) for new cardholders of the Platinum Qantas Visa until 30 June 2019.

You’ll receive 1 Qantas Point per $ on ongoing spend up to $2,500 per statement period (month), dropping to 0.5 Qantas Points per $ after up to 7,500 points per statement period.

Card Details

CardHSBC Platinum Qantas Credit Card
Loyalty programQantas Frequent Flyer
Points earned from spendEarn 1 Qantas Point per $1 spent up to $2,500 per statement period on eligible purchases made in Australia and overseas. Every $1 spent thereafter will earn 0.5 Qantas Points.
Points cap$2,500 per statement period then drops to 0.5 points up to 7,500 points per statement period
Travel benefitsNone
Included insurancesExtended Warranty, Purchase Protection, and Domestic & International Travel Insurance (PDS)
Overseas transaction fee3% of the converted amount
Annual fee$79

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.

Flying in Qantas’ A330 domestic Business Class is one of the best uses of 60,000 Qantas Points

The key restriction with the HSBC Qantas Platinum Visa is the $2,500 per month cap 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 $2,500 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

HSBC cards supports Apple Pay & Google Pay, meaning you can use this card on your smartphone for easier payments. Find out more in our guides for each of the compatible services.

$0 annual fee for the first year with the HSBC Platinum Qantas Credit Card was last modified: April 1st, 2019 by Daniel Sciberras

Summing up

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 $2,500 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.

$0 annual fee for the first year with the HSBC Platinum Qantas Credit Card was last modified: April 1st, 2019 by Daniel Sciberras

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Point Hacks Credit Card Information

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We have not taken into consideration your personal circumstances or financial situation when providing the information on this website. It is important you read the relevant PDS from the product issuer and seek the independent advice of an appropriately qualified professional before making a decision on a product.

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  1. babs

    Thinking of signing up for this card and prior to the annual fee being paid, downgrading to the HSBC Platinum Credit Card. Are you aware if this something banks often allow without another hit on the credit record?

      • Babs

        Thanks for the response, the plan would be to keep the card for the first year and downgrade for the future years (when the second year fee is due). Just trying to figure out whether this would result in a credit rating hit?

      • Babs

        Thanks for your response, reading through that, I am still a little unsure whether transferring from one HSBC credit card to another would result in another application on my credit history or whether it would be considered a straight transfer without another application on my credit record, do you know the best way to determine this?

      • You might not want to do that as the terms and conditions state:

        Existing HSBC customers transferring from another HSBC credit card…are ineligible for this offer.

  2. Riley

    this is honestly the worst card i have ever had, the service is appalling and the “web banking” side of it is unintuitive and needlessly complicated. to add insult to injury i still havent received my points bonus.. never again (unless the promo is good)

  3. Wilson

    Applied for this card and heard nothing back. Application still listed as in progress after 10 days. Send them emails with no response and tried calling but have always been on hold and gave up after 30 mins. Not so sure if I’m going ahead if I’m already experiencing so much issues trying to contact them now.

  4. Scotty

    Card sign up was painless and efficient. Card arrived quickly.

    The 60k bonus points dropped on the 3rd months transfer no problems.

    A handy card to have for when Amex is not accepted and you can still get 1 point per dollar.

    Thanks for the guide PointHacks!

  5. pointhacksmbeaton-id-au

    I have a bit of experience and earning points with cards. My wife and I been to the US twice on points (business class return) and have just completed a Round the World Business Class (with QANTAS) to Hong Kong, London and USA. Points were mostly earned by credit cards.

    • ruby

      any tips for this? we are travelling end of next year syd-london and would you to start our points hacking now to be able to travel on business

  6. pointhacksmbeaton-id-au

    Hi Keith, Waiting for the formal complaint process to take effect in HSBC. I have to wait 5 days for a reply. The first two operators were very reluctant to escalate. Other cards allocate the points in the month you earn them, however it seems at the least HSBC (when I did it) stated within 3 months, they are now saying it may take another 2 statement cycles to transfer to qantas. That could be up to 5 months which contradicts their fine print in the offer. Will update once I have spoken to their complaints area.

  7. Mal

    Very disappointed with this card and the service offered by HSBC. Constantly receiving incorrect information. It is now over 3 months since becoming eligible for the 60,000 points and they still have not been allocated to qantas. HSBC are blaming qantas. Would not go near this card again

    • Hey Mal – sorry to hear it. Why are HSBC blaming Qantas? That doesn’t seem to make much sense. Have you tried any formal avenues of complaint like FoS or threatened as such, if you’re sure you have met the offer criteria?

  8. Demonoid

    Looks OK, But I prefer Macquarie Black Rewards for bigger spenders. 40k QFF points, $99 first year annual fee. 1 point per 1$ up to $4000 per month, and additional point on Qantas services. Also has some extra “black” type travel benefits. Perfect card to keep for 12 months, then cancel and alternate with your partner.

  9. Alex Novotni

    Hi Keith,

    Great offer and consider to sign up, although would you know if you earn points when making BAS payments to the ATO?

  10. Harriet

    G’day Keith. I cancelled this card a few months ago (approximately two months ago). If I sign up for this offer, will I be eligible for the bonus 60,000 bonus points? Kind Regards, Harriet

  11. M0les

    Keith – You got the current year’s fees waived retroactively?

    On a frivolous note, it’s one of the prettier cards I’ve seen: The core plastic is red, giving a striking contrast with the black laminate front and back.

    • Assume you’re referring to the other comment on this guide, some time ago I held this card. I did manage to get the fee waived in 2015, but cancelled soon after. Not sure on the fee waiver policy no though.

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