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A woman checking on mobile with a smile at living room; image used for HSCB Australia Balance transfer.

Balance transfers

Consolidate your debt and reduce interest with an HSBC credit card

Simplify your banking and consolidate your debt with an HSBC Balance Transfer.

An HSBC Balance Transfer allows you to transfer some or all of your credit card balance from a non HSBC card to an HSBC credit card so you can simplify your finances.

Benefits

  • Reduce credit card interest and pay off your outstanding balances with 0% p.a. interest
  • Simplify your banking by consolidating your monthly repayments into one simple repayment
  • By consolidating your debt onto the one credit card, you could reduce the amount of credit card fees you are paying

Choose a balance transfer offer from one of these HSBC credit cards

HSBC Low Rate Credit Card

Low Rate Credit Card

0% p.a. interest on balance transfers for 12 months1 (when requested at card application) 

2% balance transfer fee2 applies

Cash advance rate will apply at the end of the period

  • $99 annual fee
  • $1,000 minimum credit limit
  • 12.99% p.a. variable interest rate on purchases
  • 25.99% p.a. variable interest rate on cash advances
HSBC Platinum Credit Card

HSBC Platinum Credit Card

0% p.a. interest on balance transfers for 12 months3 (when requested at card application)

2% balance transfer fee2 applies

Cash advance rate will apply at the end of the period

  • $0 annual fee in the first year ($149 thereafter)4
  • $6,000 minimum credit limit
  • 19.99% p.a. variable interest rate on purchases
  • 21.99% p.a. variable interest rate on cash advances
HSBC Platinum Qantas card

Platinum Qantas Credit Card

0% p.a. interest on balance transfers for 12 months3 (when requested at card application)

2% balance transfer fee2 applies

Cash advance rate will apply at the end of the period

  • $0 annual fee in the first year ($299 thereafter)5
  • $6,000 minimum credit limit
  • 19.99% p.a. variable interest rate on purchases
  • 21.99% p.a. variable interest rate on cash advances

Learn how much you could save with our balance transfer calculator.

How does a Balance Transfer work?

Am I eligible?

To be eligible for the introductory balance transfer rate, the balance transfer request must be made at the time of applying for the new HSBC credit card. The balance transfer must be from non-HSBC credit cards. 

What is my Balance Transfer limit?

Your total balance transfers must not exceed 90% of your approved credit limit.

How long do I enjoy 0% interest on my Balance Transfer?

The interest rate on the balance transfer applies for a set period of time depending on which HSBC Credit Card you choose. After this period, any balance outstanding from the balance transfer will accrue interest at the cash advance rate applicable to your product.

How do my monthly repayments work?

HSBC will allocate payments we receive from you to pay off the portion of your balance which attracts the highest interest rate first and subsequently to portions of your balance attracting lower interest rates. This may mean applying any and all payments made to your HSBC credit card account to pay off other transactions such as purchases and cash advances before any balance transfer amount.

Some helpful tips

If your Balance Transfer with HSBC is successful, it might be a good idea to review your overall credit card needs to determine whether you still require your previous credit card. This will help to ensure you are not paying any unnecessary fees or additional interest.

Terms & Conditions 

Credit provided by HSBC Bank Australia Limited ABN 48 006 434 162 AFSL and Australian Credit Licence 232595.

Offers available to new, approved HSBC credit cardholders. Offers are not available on product transfers or in conjunction with any other offer. HSBC may change or end the offers at any time. Fees, charges, terms, conditions and HSBC’s lending criteria applies to all credit cards issued by HSBC. Visit hsbc.com.au or call 1300 308 880. Interest rates are valid at the time of publication and are subject to change. View Terms and conditions for full details.

  1. To be eligible for the introductory balance transfer interest rate, you must make the balance transfer request when applying for the new HSBC credit card and the balance transfer must be from non-HSBC credit cards. The total balance transfer amount must not exceed 90% of your approved credit limit. For the HSBC Low Rate credit card, the introductory interest rate on the balance transfer applies for 12 months from the day the balance transfer was posted. After this period, any balance outstanding will accrue interest at the variable cash advance rate (currently 25.99% p.a and subject to change). HSBC will allocate payments we receive from you to pay off the portion of your balance which attracts the highest interest rate first, and then to portions of your balance that attract lower interest rates. This may mean applying all payments made to your HSBC credit card account to pay off other transactions such as purchases and cash advances before any balance transfer amount. Full HSBC Balance Transfer terms and conditions apply.
  2. The balance transfer fee will be calculated at 2% of the balance being transferred to your HSBC credit card account. This fee is applied at the time the balance is transferred and forms part of the total outstanding balance.
  3. To be eligible for the introductory balance transfer interest rate, you must make the balance transfer request when applying for your new HSBC credit card and the balance transfer must be from non-HSBC credit cards. The total balance transfer amount must not exceed 90% of your approved credit limit. The introductory interest rate on the balance transfer applies for 12 months from the day the balance transfer was posted. After this period, any balance outstanding will accrue interest at the variable cash advance rate applicable to your product and is subject to change. HSBC will allocate payments we receive from you to pay off the portion of your balance which attracts the highest interest rate first, and then to portions of your balance that attract lower interest rates. This may mean applying all payments made to your HSBC credit card account to pay off other transactions such as purchases and cash advances before any balance transfer amount. Full HSBC Balance Transfer terms and conditions apply.
  4. The annual fee is $149 and subject to change. However, it will be waived in the first year (i.e., the annual fee is $0 in the first year). The annual fee will be debited for the first time on the first statement of account following the 12-month anniversary of the first debit transaction on your account, and annually thereafter. The waiver ($0 annual fee in the first year) does not apply to existing HSBC customers transferring from another HSBC credit card.
  5. The annual fee is $299 and subject to change. However, it will be waived in the first year (i.e., the annual fee is $0 in the first year). The annual fee will be debited for the first time on the first statement of account following the 12-month anniversary of the first debit transaction on your account, and annually thereafter. The waiver ($0 annual fee in the first year) does not apply to existing HSBC customers transferring from another HSBC credit card.