HSBC Platinum Visa - Opinion Requested

Related Stores

HSBC

• 

  hamza23 on 07/11/2015 - 12:15

  Have a look at the credit card guide wiki. HSBC info is here. That might give you some info about the card and alternatives, it looks like that Citibank offer is expired however. I'd at least be getting the free Qantas AmEx and using that to get 1 QFF for $1 spent as the primary card and something like your HSBC as a back up where AmEx isn't accepted.

  • 

    mshanann on 07/11/2015 - 12:28

    Thanks, looking at that wiki, it seems if you can get lucky and be granted the citibank signature card at free-for-life, then

    You earn Earn 1.5 rewards points per $1 spent on all eligible domestic purchases
    versus 1 for 1 at HSBC.

    Looking at citibank rewards too

    17900 points gives you a $100 bunnings card.

    given you earn 1.5 points per $1

    17900/1.5 - you would have to spend $11933 domestically.

    versus with HSBC - 20000 points gives you a $100 card

    So you need to spend $20000 to get $100 at HSBC
    Versus $11933 with Citibank

    The main issue then is actually getting the citibank signature card with free for life option so that you don't have to pay the normal $299

    • 

      mshanann on 07/11/2015 - 12:33

      Filling out the link

      https://citibank.veda.com.au/Home/Apply?product=CITICC

      It informs me

      Sorry we were unable to generate a VedaScore band

      1) We may not have been able to verify your identity.
      2) You may not have an active credit report with Veda.

      Same thing happens using my wife's details.

      • 

        mshanann on 09/11/2015 - 16:55

        So I applied yesterday separately for the free yearly credit history report from Veda, and by doing so, this enabled the link above to return me an 'offer'

        VedaScore Band: Excellent!

        The VedaScore band has unlocked an exceptional rate from Citi of:

        Citi Rewards Platinum Card benefits:

        Whether you want to earn points on everyday purchases, or while you're travelling overseas, the Citi Rewards Platinum Card has it covered. Plus you'll save with $0 annual fee in the first year.

        $0 annual fee in your first year (normally $199) 1
        0% p.a. for 24 months on balances transferred (1.5% BT Fee applies) Reverts to cash advance rate 2
        Complimentary International Travel Insurance 3
        
        Three times the points on domestic spend for the first three months (up to 20,000 bonus points) 4
        1.25 Citi rewards points per $1 spent in Australia and 3 points per $1 spent overseas 5
        Earn up to 250,000 points every year with the Citi Rewards Program
        

        Important Information for the Citi Rewards Credit Card

        Fees, charges, terms, conditions and credit criteria apply. Applicants are subject to Citi's Credit Criteria. Please allow up to 15 days to process your Application subject to verification. New credit card customers only. Your total balance transfers may not exceed 80% of your credit limit.

        Subject to your acceptance the primary cardholder will NOT be billed an annual account fee for the Citi Rewards Platinum Credit Card in the first year. The standard annual fee, currently $199 for the primary cardholder will apply each year thereafter. An annual additional cardholder fee applies, currently $90 per card.
        
        Your total balance transfers may not exceed 80% of your credit limit. The 0% p.a. interest rate applies to balances transferred with this offer at point of application, and balance transfer fee for a period of 24 months. The 24 month promotional period commences once balance transfer is processed. At the end of the balance transfer period, the interest rate on any outstanding transferred balance and balance transfer fee will revert to the variable Annual Percentage Rate for Cash Advances, currently 21.74% p.a. This offer ends 10 January 2016.
        
        Complimentary Insurance and Guaranteed Pricing Scheme are provided automatically to cardholders under a master agreement between Zurich Australian Insurance Limited ABN 13 000 296 640, AFSL No.232507 and Citigroup Pty Limited, and are subject to Terms and Conditions and exclusions available at www.citibank.com.au/complimentaryinsurance. An excess applies to Purchase Cover Insurance
        
        Domestic: Within the first three (3) months of card approval you will receive three (3) times the standard points per $1 spend on eligible purchases up to 20,000 bonus points.
        
        Eligible transactions only. All rewards are subjected to the Terms and Conditions of the Citibank Rewards Program. Cash advances do not earn Rewards points.
        

        …. So it seems like the citibank signature card for life thing is either not on offer, or not on offer for someone with an 'Excellent' VedaScore band.

      • 

        hamza23 on 10/11/2015 - 00:22

        @mshannon:

        Interesting, well you could take the platinum for a year and then ring up to cancel it 11 months in. Chances are they'll offer it to you free for life if you use it semi regularly (that's what happened to me, before I got my signature card and then cancelled the platinum). Worst case scenario you get it free for a year and can go to the HSBC platnum in a year or something else that pops up in the mean time.

      • 

        mshanann on 10/11/2015 - 09:15

        @hamza23:

        Looking at more of the fine-print - additional cardholder fee is $90 per card with citibank deal above ; versus $0 for HSBC.

        I may call citibank and see if they can offer anything potentially better.

  • 

    mshanann on 07/11/2015 - 12:36

    BTW - I already have the BMW AMEX free-for-life thing from years back; Just looking for a visa card for places that don't accept AMEX.

    • 

      hamza23 on 07/11/2015 - 12:39

      Looks like the Citibank ship has sailed then, HSBC might be the way to go if no one else has a better suggestion. Another Citibank offer might come up in the future and you can switch to that from the HSBC if so. I keep both the Citibank signature and HSBC Platinum, if you don't use your HSBC for a while they send you bonus offers now and then also to make it worth while to use it for a bit (x bonus points if you spend $x in a month or $x gift card if you spend $x type thing).

      • 

        mshanann on 07/11/2015 - 12:41

        thanks

        Just looking at my amex

        13500 points buys a $100 bunnings card
        and 1 point for each $1 spent plus potential bonus points.

        So AMEX would definitely be the go to card wherever one accepts it.

      • 

        Master Bates on 07/11/2015 - 18:03

        +2

        @mshannon: Ignoring the potential to earn bonus points, you are effectively getting 0.74% of your spend back in rewards.

        You would be better off getting an ING transaction account and using PayPass where possible (transactions under $100) to get back 2% of your spend in real money and not gift cards!

      • 

        kev98 on 08/11/2015 - 14:14

        @moola: Yes, I stopped using rewards card when buying petrol as it works out better paying with ING

      • 

        mshanann on 10/11/2015 - 09:07

        @moola:

        I've got a CUA home loan with 100% offset account, so my salary gets paid in to that where it effectively earns the fixed-interest rate. Otherwise the pay-wave would make sense.