Variable APR16.74% or 20.74%
Cash Advance APR26.74%
Rewards RateEarn 3X Rewards Program Points on new travel and 2X Rewards Program Points on dining. Earn 1X Point on all other net purchases
Bonus OffersEarn 50,000 Rewards Program Bonus Points worth $750 in airfare when booked online through HSBC Rewards, after spending $4000 in the first three months
Earn 50,000 Rewards Program Bonus Points worth $750 in airfare when booked online through HSBC Rewards, after spending $4,000 in the first three months of account opening
3X Points on travel, 2X Points on dining, 1X Points on all other purchases
Complimentary membership to a network of 850+ airport lounges, plus two free lounge visits per year
$100 Annual Air Travel Credit
$85 TSA Pre√® credit
$100 Annual Statement Credits for rides with Uber and Lyft
World Elite Concierge Service
No Foreign Transaction Fees
$395 Annual Fee (plus $65 per Authorized User)
Competitive, variable APR of 16.74% or 20.74%15 on Purchases and Balance Transfers
Distinctive metal card design
Lost or damaged baggage coverage, Trip Cancellation Insurance, $1 Million Travel Accident Insurance
- Offers a sign-up bonus worth $750 in airfare
- Plenty of other travel benefits, including statement credits and insurance coverage
- A decent rewards program
- Charges a high annual fee
- Lounge membership isn't as valuable as with similar cards
Application Process: Apply online, and get a decision within 60 seconds or less.
Rewards: Earn 3 points per dollar spent on travel, 2 points per dollar spent on dining, and 1 point per dollar spent everywhere else.
Bonus Offers: Earn 50,000 points, worth $750 in airfare when booked online through HSBC Rewards, after you spend $4,000 in the first three months.
APR: 16.74% or 20.74% variable APR.
Annual Fee: $395.
Getting a premium travel credit card is a significant commitment. These cards often charge huge annual fees, making any cardholder do a double take. But depending on the card, you could get enough value out of the card’s rewards program and benefits to make it all worth it.
The HSBC Premier World Elite Mastercard® Credit Card is one of those cards, offering a suite of benefits and perks to go along with a decent rewards program. Read on to learn more about the card and find out if it’s right for you.
HSBC Premier World Elite Mastercard® Credit Card review
The HSBC Premier World Elite Mastercard® Credit Card is the best credit card HSBC Bank USA has to offer despite its steep annual fee.
In addition to offering a massive sign-up bonus and a solid rewards program, the bank will add more value to your points if you use them to book airfare through HSBC Rewards.
And like any other good premium credit card, this one comes with a slew of travel benefits that you can take advantage of whether you travel constantly or just a few times a year.
HSBC Premier World Elite Mastercard® Credit Card rewards and perks
When you first get the card, you’ll earn a 50,000-point sign-up bonus after you spend $4,000 in the first three months. That bonus can be worth as much as $750 if you use your points to book airfare through HSBC Rewards.
You’ll also earn rewards on your everyday purchases, including 3 points per dollar spent on travel, 2 points per dollar spent on dining, and 1 point per dollar everywhere else.
While redeeming your points for airfare offers more value, you can also use them to book hotels and car rentals through your HSBC Bank USA account.
Alternatively, you can transfer your points to one of HSBC’s airline partners, which include British Airways, Cathay Pacific, and Singapore Airlines.
Depending on how you redeem your points through those airlines, you could squeeze even more value out your points. That’s especially the case if you can manage to get enough points to book a first-class international ticket.
HSBC Premier World Elite Mastercard® Credit Card benefits
On its own, the HSBC Premier World Elite Mastercard® Credit Card’s rewards program isn’t enough to make the card’s annual fee worth it. But combined with its list of benefits, you could easily make up for the annual fee every year.
Most of the benefits are travel-focused. For example, you’ll get a complimentary membership to the Mastercard Airport Experiences lounge network, which has more than 850 airport lounges worldwide.
The only drawback is that you only get two free lounge visits per year. Other premium travel cards, such as the Chase Sapphire Reserve® and The Platinum Card® from American Express, offer unlimited free lounge visits in their lounge networks.
Here are some other highlights of the card’s travel benefits:
- $100 annual air travel credit
- $85 TSA Pre√ credit
- $100 Annual Statement Credits for rides with Uber and Lyft
- World elite concierge service
- No foreign transaction fees
- Car rental collision and damage insurance
- Lost or damaged baggage coverage
- Trip cancellation insurance
- $1 million travel accident insurance
- Unlimited Boingo Wi-Fi access
- 10% discount when you book your hotel or vacation home stay through Expedia, Agoda or onefinestay
In addition to these benefits, you’ll also get some shopping benefits, some of which are common and some that aren’t.
- Complimentary ShopRunner membership, which offers unlimited, free 2-day shipping and free return shipping at over 140 online stores
- Extended warranty, which doubles the original warranty on items you purchase up to two years
- Purchase assurance, which covers most purchases against accidental damage or theft
- Return protection, which provides up to $250 if the merchant does not accept the return of an item
- Price protection, which refunds the difference if you purchase an item and see it advertised for less within four months
HSBC Premier World Elite Mastercard® Credit Card costs and fees
The most glaring cost of the HSBC Premier World Elite Mastercard® Credit Card is its annual fee at $395. What’s more, you’ll have to pay an extra $65 per year for each authorized user you add to the account.
The card also charges an above-average interest rate, based on a 15.54% average from the Federal Reserve for the second quarter of 2018.
That said, you don’t have to worry about paying interest on the card — or any credit card for that matter — if you pay off your balance on time and in full each month.
Also, keep in mind that the card doesn’t charge a foreign transaction fee. This feature is great if you travel abroad frequently.
Does the HSBC Premier World Elite Mastercard® Credit Card make sense for me?
There’s no perfect credit card out there, and this one is no different. While you could get enough value out of the card to make up for its high annual fee, you could get even more value out of another one.
As such, it’s important to compare this one with other top travel credit cards to see which one would be best for your spending habits and feature preferences. Also, compare it with other HSBC credit cards to see what the bank has to offer.
In other words, don’t take this offer without doing your due diligence. The more research you do, the easier it will be to find the card that best suits your needs.