HSBC is closing its Australian client bank cards: 17 November 2026 is the final day you need to use your card, and accounts are cancelled from 18 November 2026. If you happen to nonetheless maintain an HSBC card, there are a number of dates to behave on earlier than then, beginning with 16 October 2026 if you wish to money in Rewards Plus factors.
Right here’s what’s occurring, which playing cards are affected and what to do subsequent.
Key numbers
- 16 October 2026: final day to redeem HSBC Rewards Plus factors for money again
- 17 November 2026: final day to make use of your HSBC bank card
- 18 November 2026: playing cards cancelled, and buy charges above 12.99% p.a. drop to 12.99% p.a.
- First half of 2027: excellent balances anticipated to maneuver to Credit score Corp Group (topic to regulatory approval)
Methodology: dates and modifications taken from HSBC Australia’s bank card key data (up to date 9 October 2026) and its last-day discover (17 September 2026), plus our card pages, all checked 12 October 2026.
What’s occurring to HSBC bank cards?
HSBC says it’s closing its retail banking enterprise in Australia in levels. It stopped taking new bank card functions from 31 July 2026, and now it’s winding up present client bank cards. Company playing cards aren’t affected.
| Function | Now | From 18 November 2026 |
|---|---|---|
| Utilizing your card | Works as regular till 17 November 2026 | Card cancelled. No new purchases, money advances or recurring funds |
| Buy charge | Your card’s present charge | Decreased to 12.99% p.a. if it’s presently greater |
| Annual charge | Not charged since 12 August 2026 (HSBC says eligible refunds have been processed from the week of 17 August 2026) | No annual charge |
| Repayments | Month-to-month repayments as normal | Preserve making month-to-month repayments till the steadiness is paid off |
| Factors | Qantas Factors and Rewards Plus factors earn on eligible spend | Incomes stops (final eligible spend is 17 November 2026) |
| Complimentary journey insurance coverage | Obtainable | HSBC says entry ends on 1 January 2028 |
Which playing cards are affected?
All HSBC Australia client bank cards, together with these ones we checklist:
What does it imply for you?
If you happen to pay your card off in full each month, the primary job is shifting your spending (and any direct debits) to a different card earlier than 17 November.
If you happen to carry a steadiness, there’s one piece of excellent information. From 18 November 2026, HSBC will minimize any buy charge above 12.99% p.a. right down to 12.99% p.a. Right here’s a tough instance: on a $3,000 steadiness, a charge of 19.99% p.a. prices ~$50 a month in curiosity (3,000 × 19.99% ÷ 12), whereas 12.99% p.a. prices ~$32 a month (3,000 × 12.99% ÷ 12). That’s a saving of ~$18 a month, earlier than any repayments scale back the steadiness. The 19.99% right here is simply an instance, so test your individual assertion in your present charge.
Your steadiness doesn’t disappear when the cardboard closes. HSBC expects to maneuver excellent balances to Credit score Corp Group Restricted within the first half of 2027, topic to regulatory approval.
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Recurring funds gained’t transfer themselves. HSBC says it may well’t cancel them for you, so replace your particulars with every supplier (cellphone, streaming, insurance coverage, gymnasium) earlier than 18 November 2026, or these payments may bounce.
What are you able to do?
- Use your factors. If in case you have HSBC Rewards Plus factors, the final day to redeem them for money again is 16 October 2026. After that, HSBC says you may nonetheless redeem them for e-Reward playing cards or frequent flyer packages the place out there, so redeem what you may earlier than your account closes.
- Transfer your direct debits to a different card or account earlier than 18 November.
- Preserve paying a minimum of the minimal every month till the steadiness is cleared.
- Select a alternative card. If you happen to favored incomes factors, examine frequent flyer playing cards or Qantas playing cards. If you happen to’d quite maintain issues easy, have a look at no annual charge playing cards.
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Tip: Fascinated by a steadiness switch to a brand new card? Run the numbers first. With HSBC’s charge dropping to 12.99% p.a., a switch solely is smart if the brand new card’s supply (and any switch charge) clearly beats that. Our steadiness switch web page may help you examine.
“If you happen to’ve received an HSBC card, put two dates in your diary now: 16 October for any Rewards Plus money again, and 17 November in your final day of spending. Then spend half an hour shifting your direct debits. It’s boring, nevertheless it saves numerous trouble later.”
Pauline Hatch, bank card knowledgeable at CreditCard.com.au
Ceaselessly requested questions
When is the final day I can use my HSBC bank card?
17 November 2026. HSBC cancels playing cards from 18 November 2026.
Do I nonetheless must repay my HSBC steadiness?
Sure. You could maintain making your month-to-month repayments after the cardboard closes. HSBC expects to maneuver remaining balances to Credit score Corp Group Restricted within the first half of 2027, topic to regulatory approval.
What occurs to my HSBC factors?
You retain incomes Qantas Factors and Rewards Plus factors on eligible spend till 17 November 2026. The final day to redeem Rewards Plus factors for money again is 16 October 2026, so test your steadiness quickly.
Can I nonetheless apply for an HSBC bank card?
No. HSBC stopped taking new bank card functions from 31 July 2026.
Common recommendation solely: this text is basic data and doesn’t take into consideration your aims, monetary scenario or wants. Contemplate the Goal Market Willpower (TMD) and the phrases and situations earlier than making use of for any bank card. Modifications are as said in HSBC Australia’s bank card key data (up to date 9 October 2026) and its Vital Notices. Card particulars are right as at 12 October 2026 and might change.
