HSBC Platinum Visa

HSBC credit cards are most famous for their accelerated rewards which incentivize cardholders for using their credit card in daily expenses.

We have simplified their accelerated rewards in the table below.

Although attractive, as it says that you’ll earn 1 bonus point for ever PHP5.00 that you spend overseas, it’s not as efficient as it seems. The good thing is that they have no minimum spend limit to earn these bonus points…

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HSBC Platinum Visa
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PHP 42,000.00


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PHP 5,000.00


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3.5% per month


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PHP 25.00 : 1 mile


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3.50% per month


Quick Overview

Who is the Card For?

The HSBC Platinum Visa is one of those cards that are very good situationally. It isn’t as great as some of the premier travel credit cards out there, but when your spending habits matches perfectly with HSBC’s designed rewards scheme, it will benefit you the most.

The relatively high minimum income requirement makes it good for mid to high level employees, executives and business owners. It’s also one of the card we recommend to individuals who are rather heavy spenders as long as it’s within their budget.


  • Accelerated Rewards
  • Low Point-to-Mile Ratio


  • Monthly Cap of 60,000 for Accelerated Rewards
  • High Annual Fee
  • High Air mile conversion

Special Features

  • Accelerated Rewards
  • HSBC Home and Away Privilege Program

Perks and Benefits

The credit card doesn’t have any signup bonuses as of now, but it does have multiple benefits as provided by HSBC.

  • Earn 1 air mile for as low as PHP25.00 spent along with 4 bonus points for every PHP20.00 spent on overseas purchases
  • Accelerated Rewards allow you to earn 4 bonus points for every PHP20.00 spent on overseas purchases when traveling and shopping online.
  • Accelerated Rewards allow you to earn 3 bonus points for evert PHP20.00 spent on shopping and dining locally and an additional 1 point for every PHP20.00 spent on everything else.
  • Free Travel Accident Insurance and Travel Inconvenience Coverage
  • Exclusive Privileges with HSBC’s Home and Away Privilege Program
  • Enjoy 6% Rebate on your first Caltex Transaction and 3% rebate on Caltex Fuel Purchases year round
  • No swiping necessary for this contactless card at designated terminals
  • Statements delivered via Email
  • 0% Interest on Installments up to 36 months at participating merchants
  • Cash Installment Plan
  • Card Balance Transfer
  • Card Balance Conversion Plan
  • Autocharge
  • Cash Advance

Points and Miles

HSBC has one of the lowest point-to-mile ratio when you take advantage of their Accelerated Rewards. Since they’re giving out 4 points for every PHP20.00 spent on overseas purchases or shop online, we can simplify that to be 1 point for ever PHP5.00. that’s an absolute steal of you think of it.

However, this amazing ratio is only effective until you reach the cap of the Accelerated Rewards which would be PHP60,000 every month. Once you spend more than that, you will only receive 1 mile for every PHP25.00 you spend, which even though it’s decent, is nowhere near as efficient as when you have accelerated rewards.

Think of it this way. Through the accelerated rewards program, you can get a maximum of 12,000 bonus points once you’ve reached PHP60,000 of qualified expenses. If you spend another PHP60,000 within the same month, you’ll only be able to accumulate 3,000 bonus points. Meaning you’ll only get 1/4th of the value that the accelerated rewards give.

Credit Card Fees based on most recent HSBC table of credit card fees

Card Details

Primary Card Annual Fee


Supplementary Card Annual Fee


Monthly Effective Interest Rate

3.50% per month

Cash Advance Monthly Effective Rate

3.75% per month

Cash Advance Fee

3% of amount drawn or PHP500, whichever is higher.

Minimum Amount Due

Four percent (4%) of your current billed balances (including cash advances and cash advance fees and charges, retail purchases, non-installment related fees and charges) or PHP500, whichever is higher + 100% of the fixed monthly amortization of installment transactions and installment related fees and charges + Past Due installment amortization amount PLUS the corresponding full amount of finance charge incurred, if any + Any other Past Due or Overlimit amount, whichever is higher

Late Payment Fee

PHP700 or unpaid minimum amount due, whichever is lower (Effective November 1, 2017)

Over limit fee

PHP500 shall be charged if card account is overlimit on cut- off date.

Returned check fee

PHP1,000 will be charged for check payments which are returned due to reasons such as but not limited to insufficient funds, unsecured deposit, or any other reasons resulting to bad faith by cardholder.

Sales slip retrieval fee

PHP275 for each sales slip retrieved upon cardholder’s request.

Card Replacement Fee

PHP400 for each replacement of lost, stolen or damaged card.

Service Fee for Foreign Currency Transactions

2.5% of the converted sum plus reimbursement of the assessment fee charged by Visa/MasterCard to HSBC equivalent to 1% of the converted sum.

HIP Pre-termination Processing Fee

PHP500 for each HSBC Installment Plan transaction pre- terminated.

Our Thoughts

The HSBC Platinum Visa is one of the few credit cards that we view as relatively situational. You get the best value from it only until you reach the cap of PHP60,000. Any more will be very inefficient. Of course, when you have the option to earn points at a lower rate, then you’ll probably choose to do so when the conditions apply.

As explained above, when you max out the PHP60,000 cap effectively, you can get 12,000 bonus points. 12,000 bonus points is enough to redeem 2,000 Asia Miles or Krisflyer Miles. when you’re able to do so for the whole year, you can accumulate up to 28,000 Asia Miles or KrisFlyer Miles which is already a pretty decent amount.

The HSBC Platinum Visa is a credit card that we think would be good as an extra credit card. This is because its efficiency period is limited to when the Accelerated Rewards program is active. After reaching the cap of the Accelerated Rewards, HSBC doesn’t have any thing better going for it. Even its PHP25.00 to 1-mile ratio isn’t enough to keep it relevant outside of the Accelerated Rewards.

However, if you’re someone that can use up exactly PHP60,000 or some amount near it in one month, then It’s a relatively nice card to have. If you plan on going on a vacation within a month and you think you’ll be spending more or less PHP60,000, then the HSBC Platinum Visa is a great choice.

Outside of these very specific conditions, the credit card is just a middle-of-the-pack option.

How to Apply

  1. Visit the HSBC website.
  2. In their navigation bar, click on Everyday banking.
  3. Under it is a list of credit cards. Choose HSBC Platinum Visa.
  4. Click on the bright red “Apply Now” Button.
  5. Follow the instructions as you fill out the online application form.

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