The HSBC Premier World Mastercard credit cards are available to HSBC Premier customers. With this card, you can earn prizes. Customers who have $75,000 in combined U.S. personal and investment deposits or other qualified agreements with HSBC are considered premier clients.
For every dollar spent on travel and one for all purchases, you receive two points.
Customers of HSBC Premier who meet the requirements are exempt from annual fees. If you spend at least $3,000 in the first three months after opening your account, you’ll receive 35,000 extra points.
You will receive 35,000 bonus rewards points after spending at least $3,000 within the first three months of opening your account.
For every new trip transaction, including hotel, airline, and rental car reservations, earn 2X Rewards Points. For each dollar you spend, earn 1X points.
You can receive accelerated screening at airports with TSA Precheck. You will get an $ 85 statement credit every five years as compensation for your application expense.
For its clients who keep a Premier relationship with the bank in India, HSBC offers only the Premier Mastercard credit card. The card, which is powered by MasterCard and free for the bank’s Premier customers, is clear from the name. Customers can receive a complimentary Taj Epicure membership and a free night’s stay at Taj hotels as welcome bonuses. Reward Points, which may be used to purchase a variety of goods and airline miles, are earned by using the card at a respectable reward rate.
Other perks related to travel, food, and lifestyle include free access to airport lounges, discounted golf outings, etc. All the features and advantages that come with this card have been thoroughly covered in this post.
Key Features
- You can select from two different rewards programs when using the HSBC Premier World MasterCard: the Rewards Plus program, which lets you earn 1 HSBC Rewards Point for every $1 spent, or the Qantas Frequent Flyer program, which lets you earn 1 Qantas Point for every $1 spent on qualifying purchases.
- Fans of points will be happy to learn that the HSBC Rewards Plus program has no annual card fee, while the Qantas Frequent Flyer option has a low $99 annual price. Just keep in mind that your points will be capped at 10,000 for each statement period with either program.
- The Premier World MasterCard has a high purchase rate of 19.99%, so cardholders should make every effort to avoid carrying a balance. However, if you settle your balance in full each statement period, you will have up to 55 days without paying interest on your purchases. Due to the card’s 21.99% cash advance rate, it might be wise to avoid using ATMs.
- Additionally, the Premier World MasterCard has a variety of benefits that may be useful to travelers, such as free domestic and international travel insurance and a competitive foreign currency margin of 2.00%.
- Along with additional complimentary insurance benefits like extended warranty insurance and purchase protection insurance, cardholders of the Premier World MasterCard will also have access to Apple Pay compatibility, just like with all HSBC credit cards.
- For users who already have debt on another card, HSBC is also offering a unique balance transfer deal with a purchase rate on balance transfers of 5.99% for the first six months, after which it will return to the high cash advance rate of 21.99%.
Pros
- No yearly charge
- Earn one HSBC Rewards point for each dollar spent on domestic items that qualify.
- Earn 1.5 HSBC Rewards Points for some purchases made abroad.
- Insurance for both domestic and international travel
Cons
- 10,000 maximum points for each statement that can be redeemed for a variety of products, travel, and shopping rewards.
- There are a set number of bonus points available to you.
- There is no introductory interest rate on the HSBC Premier Mastercard credit card.
- The APR for the card is either 14.99% or 18.99% depending on creditworthiness.
Benefits
- Free entry to both domestic and foreign airport lounges.
- Reward Points can be transferred to the Taj Inner Circle hotel reward program and the AirMiles programs of partner airlines (InterMiles, Singapore Airlines, British Airways).
- Up to two complimentary visits to international airport lounges per year are included with the LoungeKey membership.
- The MasterCard Lounge program offers six complimentary visits per quarter to domestic airport lounges.
- Additional lifestyle advantages
- Free entry and reduced rates at a few top-tier golf courses in India.
- Discounts are available through learning partners like eDX, the British Council, and Yousician.
- Health and well-being advantages with international partners like MedicaMap and Medical Travel Companions.
Rewards
- Spend $3,000 within the first three months of your account opening to get 35,000 Bonus Points, which are worth $400 in air travel.
- Earn 1 Point for every $1 spent on all other purchases, with no cap and no expiration, and 2 Points for every $1 spent on travel.
- Earn up to $2,000 in points between April 1, 2023, and June 30, 2023, on purchases for your home and health.
- Redeem points for gift cards, travel, cash back, or merchandise.
- $ 85 TSA Precheck credit to cover the application price every five years.
- Get 5% off worldwide attractions, shows, and theme parks with Klook, $5 off your first two orders at DoorDash each month, and $5 in Lyft App credit each month after three trips.
Overall Rating
The HSBC Premier World Mastercard offers several very useful extras, like Instant Savings, LoungeKey access, and insurance coverage, while also earning HSBC Rewards Points or Qantas Points.
How to apply?
The HSBC Premier World Mastercard Credit Card is a wallet-sized card that offers a plethora of benefits. When you add up the worth of all of these perks—especially the PreCheck statement credit—the absence of an annual fee is fairly astounding.
In order to apply, you must have an HSBC Premier checking account. But an HSBC Premier “relationship,” as the bank refers to it, has a lot of benefits of its own that might outweigh the trouble of opening a new bank account.
Additionally, the card doesn’t provide the best rewards rate available. However, $400 in rewards is a sizable sum if you manage to achieve the introductory deal. Overall, it’s difficult to criticize the HSBC Premier World, especially if you travel frequently enough to take use of all its benefits.
Conclusion
Comparing this card to other similar cards on the market would be unfair because it is only available to Premier Relationship members. However, if you are a Premier user of the bank, there is no need to pass this one up given that it is free and gives a respectable Reward rate and sub-premium advantages.
The HSBC Premier World Mastercard offers respectable perks, respectable points, and a one-time promotion that, depending on how it is used, can be worth up to $500. The card is an obvious choice for consumers who have a mortgage, maintain a big account balance, or make significant direct transfers to HSBC because it has no annual charge. To acquire the card, you must meet one of the HSBC Premier-status standards. After receiving the card, you are free to cancel them, but the HSBC Premier World Mastercard will then cost you $95 annually.