r/AusFinance • u/Disastrous_Guide8093 • 5h ago

HSBC Credit Card alternatives?

Hey folks, I have this HSBC credit card that had no annual fee, travel insurance, reward points (last year I redeemed almost $600 on it), and a Premier customer status. Now HSBC retail is abandoning Australia and I need one soon.

What other credit cards folks are happy with? Or unhappy with?

I don't need balance transfer etc.

TIA, friends!

17 Upvotes

83% Upvoted

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9

u/M-fz 4h ago

I’ve just left commbank ultimate awards because it’s now garbage, most banks have heavily cut the benefits of their credit cards.

Currently I’m using a Revolut Metal, it costs just over $200 when paid yearly and each $1 spent is 1 point. A $50 gift card for Woolies, JB, etc. is 3,500 points so we redeem about $100-$150 on gift cards per month. Beats nothing.

Outside of that it includes a few subscriptions we use (ChatGPT, VPN, fitness stuff - there’s even tinder if that’s your thing), free fx transactions, and standard stuff like travel insurance, lounge access, etc.

Doesn’t blow me away, but it’s better than the CBA Ultimate Awards is now.

5

u/No_Emu_9024 4h ago

Don’t forget the free Financial Times subscription!

2

u/Disastrous_Guide8093 4h ago

That sounds pretty good. And who can resist tinder. 🤣🤣🤣 *just kidding!

6

u/jjj-Australia 4h ago

We were HSBC Premier customers too and were redeeming like $500 in rewards every year, and we moved to Macquarie bank with the black card that gives double points and is free fee is you attached it to your offset mortgage account. We moved all our accounts to Macquarie.

1

u/Disastrous_Guide8093 4h ago

I'm refinancing. Just spoke to ANZ and they're offering $2k cash back,  no annual fee and an offset for $10/ month. The rate is 6.07%. Need to look at other banks too to compare. 

•

u/accountforfun19 2h ago

I’m on AMEX Velocity Platinum and it’s about to expire, jumping over to AMEX Velocity Escape for $95 per year. I’ve compared Coles, Kogan and Bendigo Bank and I’ve decided to stay with AMEX given the difficulty on going back to them.