HSBC increasing credit card annual fees on 11/3/25

[kokoikaka]

Just saw the news,
looks like HSBC Australia retail banking business is up for sale

 

[desafinado74]

I had a missed call from a Premier Manager just now. (I recently became a Premier customer)
He said he wanted to discuss about my Premier status.
Has anyone here received such a call before ?

 

[0x012fd0aa]

I had a missed call from a Premier Manager just now. (I recently became a Premier customer)
He said he wanted to discuss about my Premier status.
Has anyone here received such a call before ?

I've had one before.

 

[desafinado74]

I've had one before.

What was the call about?

 

[0x012fd0aa]

What was the call about?

Not much, just an introduction and some general info.

 

[skylab]

so I have applied and got approved the HSBC premier Mastercard, just after Christmas '24.

then I got a letter to say the they will increase the annual fee, from $0 to $399 , but I get the first year off (just as was discussed on this thread).

then I just got an email today to say that there will be an annual fee of $399, which is charged in March this year!!

is this right and can they do this????

What you need to know​

The annual fee for your credit card will be changing from $0 to $399. The updated fee will apply from when your next annual fee is due on or after 11 March 2025.

 

[Damo_Oz_1]

It seems you'll get charged in December 2025 (if not cancelled before).

I mentioned the new charges to my RM, and it is not okay. She had no idea about the changes.

Post automatically merged: Tuesday at 11:23 AM

Just saw the news,
looks like HSBC Australia retail banking business is up for sale

That's why they stopped trying to be competitive all together. Their term deposit rates are shocking as compared to Macquarie.

 

[oz_mark]

so I have applied and got approved the HSBC premier Mastercard, just after Christmas '24.

then I got a letter to say the they will increase the annual fee, from $0 to $399 , but I get the first year off (just as was discussed on this thread).

then I just got an email today to say that there will be an annual fee of $399, which is charged in March this year!!

is this right and can they do this????

What you need to know​

The annual fee for your credit card will be changing from $0 to $399. The updated fee will apply from when your next annual fee is due on or after 11 March 2025.

It says when your fee is due on or after 11 March 2025. In your case that should be about 1 year after you opened the account.

 

[grandir]

Just saw the news,
looks like HSBC Australia retail banking business is up for sale

Hopefully NAB wont be the buyer. They're already destroying Citibank products via death by a thousand cuts - they'd likely do the same thing for HSBC too

 

[B A]

It seems you'll get charged in December 2025 (if not cancelled before).

I mentioned the new charges to my RM, and it is not okay. She had no idea about the changes.

Post automatically merged: Tuesday at 11:23 AM

That's why they stopped trying to be competitive all together. Their term deposit rates are shocking as compared to Macquarie.

They also dropped their bonus saving interest where’s it’s no longer competitive anymore. And the bad thing with HSBC is that if you want to change your online banking sending limit you need to call them and they can’t even do it then as you will get a call back from them to do it which is stupid as then how do you verify you are really getting a call back from HSBC. Only option was to get a reference number from the first call and for them to quote it when they call you back.

Just got email as well with the fee change. Will cancel my card before anniversary date.

 

[Johnxx]

That's annoying, the Premier Mastercard was a keeper even after planning to stop using after year 1 and the 1.5X Qantas points earn....just the travel insurance and 2 free lounge passes was enough. Add the 2 lounge passes from Citi free for life and getting Qantas Club every 2 years from Points Club+ and J class travel from points gets me a very good lounge game for someone with no status

 

[Blackswan]

Looks like it's made mainstream press, too;

https://www.news.com.au/finance/money/i-dont-think-so-aussie-man-slams-bank-over-credit-card-fee-increase/news-story/948598a0c948dd45d9a1a77b62c5aaf6