Despite some of HSBC’s credit cards not really being that hard to top, it’s easy to see that HSBC really brings out the big guns with the Platinum credit card. With so many features in one card it’s hard to know where to start, so how about we just start with the basics?

The purchase rate on HSBC’s Platinum credit card. This is great for a premium card and is topped off with p.a. for any cash advances you get.

There are however a few downsides, but they don’t deter too much from the other benefits which says a lot for the card itself. For example, balance transfers are pretty average for the first six months, increasing after that six months is up. Nevertheless, if you are smart this balance transfer rate is manageable and acceptable considering all the other benefits on offer.

For starters, there are a number of special privileges just for Platinum card holders including back stage passes at concerts, 24/7 concierge service, reserved seating for theatre shows (not to mention free drinks on arrival), exclusive events, and travel experiences.

You’ll also get instant rewards thanks to HSBC’s home&Away privilege program, not to mention the Rewards Plus program where you earn one point for every dollar spent, and double and triple points at selected bonus partners.

Points can be redeemed at what is a pretty good redemption rate compared to some, with a $100 voucher (depending on where it is from) requiring around 16,000 points. Yes, we know it’s not the cheapest rate out there, but are a lot that are worse too!

The Platinum card also includes insurance benefits such as purchase protection (90 days from purchase), a guaranteed pricing scheme (so you can avoid getting ripped off), extended warranty insurance (12 months), transit accident insurance and the big one – international travel insurance when you buy a return ticket on your Platinum credit card.

All this comes at a reasonable price for the annual fee (which is more comparable to that of a gold credit card which is always a bonus!) and has a minimum income requirement of $75,000 attached. As usual there are terms and conditions which unfortunately can’t be accessed until you apply.

So if you feel like you probably won’t use the more valuable features like travel insurance etc, keep an eye out for cheaper cards that omit these features and cater more to your needs (such as the ANZ Rewards Visa Gold).

On the other hand, if these benefits are all of use to you then it is definitely a credit card worth getting thanks to its great value for money.

See our top credit card picks in the Editors Choice category

If you’re a member of Qantas’ frequent flyer program then this is the credit card for you. Although it might take a bit to get your head around the points earning guidelines, it’s definitely worth it.

Allow us to explain…

To begin with, you get both an American Express credit card and your choice of either a Visa or MasterCard. For the first $3000 you spend in a month (in total from both of the cards you receive), you’ll get 2 Qantas frequent flyer points for every $2 spent on the American Express and every $3 on the MasterCard/Visa.

Then in your next $7,000 you’ll get one point for every $2 spent on the American Express and every $3 on the MasterCard/Visa. Once you hit $10,000 you stop earning frequent flyer points, so if you are a big spender it’s more rewarding for you to leave any purchases that will take you over the $10,000 mark until the next month.

Along with the frequent flyer rewards points you also get a number of other features, including Gold international travel insurance (50% of your prepaid travelling costs), purchase protection, extended warranties on purchases and VIP Lost Card cover.

But enough about that, here’s the all important basic information…

Interest is charged p.a. for both cash and purchases, with a pretty average For balance transfers. While this lower rate only lasts for six months, the interest rate that it increases to after this time is lower than most seeing as the card’s cash advance rate is pretty low. The interest free period is a little low at up to just 44 days, but like all other cards with this time slot, is manageable if you’re smart about it.

The annual fee for this card,  is pretty expensive if you’re not using it to its full potential. Therefore, it would be best suited (and most valuable) to people who will make use of the insurance and travel benefits while flying with Qantas and spend (or plan to spend) at least $3000 per month on their credit card.

See our top credit card picks in the Editor’s Choice category

NAB’s Velocity Gold is a really valuable credit card to have when it comes to rewards and benefits.

Like NAB’s standard Velocity credit card it allows customers to earn Velocity points towards international and domestic flights, on Virgin Blue as well as a whole range of other rewards available in the online Velocity rewards store.

But here’s where it gets good…

As a Gold card the annual fee is at the higher end of the scale but add in one of the best airline rewards programs available on a credit card and you’re getting a whole lot more bang for your buck.

Interest for the Velocity Gold card, and includes added insurance benefits (including 90 days purchase protection, Gold overseas travel insurance and extended warranty insurance) so is a LOT more reasonable than the standard Velocity credit card.

Interest free days stand at up to 44, which again is lower than most but still ok. Like the standard card it comes with both an American Express and a Visa credit card which ups the ante on your points-earning potential – two points for every $2 spent on the American Express and one point for every $2 on the Visa.

Even if you’re not looking to travel but still want a rewards program then this is one of a number of reasonably priced choices that may still suit your needs. With awesome rewards opportunities and all the included insurance benefits this is most definitely a card that is nipping at the heels of the top 3 cards in the rewards category, so would be great for all those travel bugs out there.

See our top credit card picks in the Editor’s Choice category