Compare HSBC Credit Cards
Compare the latest HSBC Credit Card offers. 0% for 12 months on Balance Transfers. Review your existing HSBC Credit Card. Get a better deal today.
Updated 10 December 2024
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Are Rewards Plus or Qantas Frequent Flyer rewards better?
If you take out a HSBC loyalty points Credit Card you’ll generally have the option to link it to Qantas Frequent Flyer, Star Alliance or Rewards Plus. We look at the pros and cons of each rewards program to help you choose which is right for you.
How do Rewards Plus credit cards work?
The Rewards Plus program is designed to give you flexibility in the way you choose to redeem rewards points. It allows you to accumulate rewards on your everyday purchases and doesn’t cap the number of points you can earn.
You can then spend these points across a range of categories, including Gift cards and Cashback. You can also convert your Rewards Plus points to frequent flyer points with 3 different partners, including Velocity Frequent Flyer, Singapore Airlines Krisflyer, andCathay Pacific Asia Miles.
The following provides more information about these redemption options:
- Gift cards. You can convert your Rewards Plus points for gift cards through a number of retail partners. These include David Jones, Myer, JB Hi-Fi, Amazon, Woolworths, Coles, Bunnings, Flight Centre, Webjet, Ticketmaster, Hoyts, Ebay, and more.
- Cashback.Rewards Plus has a cashback scheme that offers you $5 in return for every 1,000 points you redeem.
- Airline partners. 3 different frequent flyer programs partner with Rewards Plus offering the following rates of exchange:
- Velocity Frequent Flyer.2 Rewards Plus Points = 1 Velocity Point
- Singapore Airlines Krisflyer.2 Rewards Plus Points = 1 Krisflyer Mile
- Cathay Pacific Asia Miles.2 Rewards Plus Points = 1 Asia Mile
Which cards come with Rewards Plus?
HSBC offers 2 different cards that come with Rewards Plus. These include the entry-level HSBC Platinum card, as well as the HSBC Premier. For a higher fee, these offer the opportunity to earn more rewards points, and feature other travel-related benefits.
Summary of the benefits of Rewards Plus cards
| HSBC Platinum | Fee$149 | International transaction fee3% | Purchase rate21.99% p.a. | Interest free daysup to 55 | Rewards points earned Earn Rewards Plus Points 1.5points per $1 spent 180,000 annual points cap | Other benefits Complimentary travel insurance | Minimum credit limit$6,000 | |
|---|---|---|---|---|---|---|---|---|
| HSBC Premier | Fee$0 | International transaction fee3% | Purchase rate21.99% p.a. | Interest free daysup to 55 | Rewards points earned Earn Rewards Plus Points 1.5points per $1 spent 180,000 annual points cap | Other benefits No annual fee Complimentary travel insurance | Minimum credit limit$10,000 |
Current offers on Rewards Plus cards
HSBC has the following offers for people taking out a new Rewards Plus card.
HSBC Platinum
0% for 12 monthson balance transfers (2.00% BT fee applies), reverts to 21.99% p.a.
$0annual fee in first year
HSBC Premier
0% for 12 monthson balance transfers (2.00% BT fee applies), reverts to 21.99% p.a.
How do the HSBC Qantas Frequent Flyer credit cards work?
As the name suggests when you spend money on your HSBC Qantas Frequent Flyer card, you earn Qantas Frequent Flyer Points directly. Points are uncapped and the amount you’ll receive depends on how much you spend.
Qantas Frequent Flyer program is extensive, giving you the opportunity to use points for domestic and international flights and upgrades. You can also redeem points for:
- hotels
- shopping, including gift cards and direct purchases from the Qantas Store
- purchases through Qantas Wine
- Qantas Travel Insurance, and
- hire cars and fuel through BP
Which cards come with Qantas Frequent Flyer?
HSBC offers 2 different cards that link to Qantas Frequent Flyer. These include the entry-level HSBC Platinum - Qantas card, as well as the HSBC Premier - Qantas. For a higher fee, these offer the opportunity to earn more rewards points, and feature other travel-related benefits.
Summary of HSBC Qantas Frequent Flyer Cards
| HSBC Platinum - Qantas | Fee$299 | International transaction fee3% | Purchase rate21.99% p.a. | Interest free daysup to 55 | Rewards points earned Earn Qantas Points 1point per $1 spent 120,000 annual points cap | Other benefits Complimentary travel insurance | Minimum credit limit$6,000 | |
|---|---|---|---|---|---|---|---|---|
| HSBC Premier - Qantas | Fee$0 | International transaction fee3% | Purchase rate21.99% p.a. | Interest free daysup to 55 | Rewards points earned Earn Qantas Points 1point per $1 spent 120,000 annual points cap | Other benefits No annual fee Complimentary travel insurance | Minimum credit limit$10,000 |
Current offers on HSBC Qantas Frequent Flyer cards
HSBC has the following offers for people taking out a new HSBC Qantas Frequent Flyer card.
HSBC Platinum - Qantas
0% for 12 monthson balance transfers (2.00% BT fee applies), reverts to 21.99% p.a.
$0annual fee in first year
HSBC Premier - Qantas
0% for 12 monthson balance transfers (2.00% BT fee applies), reverts to 21.99% p.a.
Which should you get: Rewards Plus or Qantas Frequent Flyer?
Ultimately, whether you should choose a Rewards Plus or a HSBC Qantas Frequent Flyer credit card depends largely on how you intend to redeem the points.
If you’re happy flying Qantas and shopping through its partners, then earning Qantas Frequent Flyer points directly can be a great option.Alternatively, if you’d prefer to fly another airline, then the Rewards Plus card gives you the opportunity to redeem through 3 different frequent flyer loyalty programs schemes (Qantas isn’t one of them).
If cost is a consideration, it’s also worth noting that the Rewards Plus cards tends to be slightly cheaper than the HSBC Qantas Frequent Flyer cards. But if you’re earning more points on an airline you’d choose to fly, this probably won’t matter.
Alternatively, if you don’t feel like you’ll get value out of rewards points, a low-cost no-frills card could save you money.
In short…
Both cards offer great rewards programs and the choice ultimately comes down to personal preference.