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HSBC Premier World Elite Mastercard review

Get a comprehensive suite of travel benefits and earn double the points when you spend money on travel-related purchases. 

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By

Claire Horwood

Updated

No longer offered in the market

The HSBC Premier World Elite Mastercard is no longer available for new applications. However, we’ve kept the information online for the benefit of existing customers and for those who are interested.
You can compare HSBC credit cards in Canada here.

The HSBC Premier World Elite Mastercard is a premium travel card that lets you earn 6 points for every dollar you spend on eligible travel purchases and 3 points for every dollar you spend on everything else. It comes with a wide array of travel benefits along with comprehensive insurance and a generous welcome offer.

30-second take

  • Think about this card if you want deluxe travel benefits and a decent return on points.
  • Choose something else if you want a low interest rate and no annual fee.
  • You need to be an HSBC Premier account holder with a minimum individual income of $80,000 or a household income of $150,000 to qualify.

The basics

If you’re looking for a premium travel card with a wide range of frequent flyer benefits, then the HSBC Premier World Elite Mastercard could be just the ticket.

  • Good points per dollar ratio. Earn three points for every dollar you spend on everyday purchases.
  • Double the travel points. Get six points per dollar you spend on travel-related purchases like flights, hotels, rental cars and more
  • Welcome offer. Earn up to 80,000 Points and receive a $100 annual travel enhancement. Plus, a full annual fee rebate for the Primary Cardholder for the first year. Must apply by February 28, 2023.
  • No foreign transaction fees. Save around 2.5% on every purchase you make abroad with no foreign transaction fees.
  • Comprehensive travel benefits. Qualify for a full suite of travel benefits including travel medical insurance and exclusive discounts.

Eligible travel benefits

  • Travel medical insurance. Get comprehensive travel medical insurance for 31 days as long as you and your spouse are under the age of 65.
  • Additional travel coverage. Benefit from extended insurance to cover unexpected issues with flights, baggage and rental cars.
  • Travel enhancement credit. Take advantage of $100 every year to upgrade your flights and cover extra expenses like baggage fees or airport lounge passes.
  • Airport lounge discounts. Enjoy lower rates for you and your guests when you enter over 850 airport lounges worldwide.
  • Retail discounts. Lock in discounts on food, spa treatments and in-store retail purchases (with savings as high as 20%).
  • Hotel discounts. Save up to 10% when you make hotel bookings through Expedia or Agoda on your card.
  • Emergency cash transfers. Get up to $5,000 transferred to you in cash if your card is lost or stolen abroad.
  • Unlimited Wi-Fi. Access Wi-Fi at over one million Boingo hotspots all over the world.

The perks

  • Purchase assurance. Relax knowing that the purchases you make with your card will be protected against theft, loss or damage for up to 90 days.
  • Extended warranty. Get double the protection with an added year of warranty coverage on eligible purchases made with your card.
  • Zero liability protection. Avoid losing money on unauthorized or fraudulent purchases with zero liability protection.
  • Instant pay. Save time when you tap to pay with Mastercard contactless payment and Apple Pay.
  • Online protection. Use your Mastercard SecureCode to protect your information when you make purchases online.
  • No fee for additional cards. Get free additional cards for family members and other authorized users.
  • Worldwide acceptance. Shop with confidence when you travel overseas knowing that Mastercard is accepted worldwide.

What to watch out for

  • High interest. You’ll pay over high interest on your outstanding balances and even higher interest on cash advances and balance transfers.
  • High annual fee. There’s an annual fee for this card, but you may be able to qualify for a $50 annual rebate as an HSBC Premier client.
  • Low points value. The value of your points will fluctuate based on what you’re redeeming them for, but you might only get $1 in rewards for every 200 points you earn.
  • Minimum income requirements. You’ll need to make a minimum individual income of $80,000 or a household income of $150,000 to qualify.
  • Exclusive to HSBC Premier clients. Premier clients have to meet strict eligibility criteria, which can include having at least $100,000 in savings with HSBC.

HSBC Premier World Elite Mastercard interest rates

Interest TypeInterest Rate
Purchase interest rate19.9%
Cash advance rate22.9%
Standard balance transfer rate22.99%

What should I know before I apply?

How to apply

  1. Head to the HSBC website to begin your application.
  2. Complete the application, which includes providing your name, email address, social insurance number and birth date.
  3. Review and submit your application.

Compare other credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
BMO CashBack Mastercard
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
20.99%
$0
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Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
Tangerine World Mastercard
OFFER
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
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Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until July 5, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
Tangerine Money-Back Credit Card
OFFER
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
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Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until July 5, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
Neo Financial Mastercard
Neo Financial Mastercard
Get $25.00 + up to 15% cash back
Average 5% cash back
19.99% - 26.99%
$0
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Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at thousands of partners and at least 0.5% cashback guaranteed.
RBC Avion Visa Infinite
RBC Avion Visa Infinite
35,000 points
Up to 1 point per $1 spent
20.99%
$120
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Min. recommended credit score: 650
Get up to 35,000 Welcome Points.
American Express Cobalt Card
American Express Cobalt Card
30,000 points
Up to 5x points per $1 spent
20.99%
$155.88
Apply now
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Min. recommended credit score: 700
Earn up to 30,000 Membership Rewards points in your first year. Earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 in net purchases on your card (up to 30,000 points). That’s up to $300 towards a weekend getaway or concert tickets.
BMO Preferred Rate Mastercard
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
13.99%
$0 annual fee for the first year ($29 thereafter)
Apply now
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Min. recommended credit score: 660
Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived in the first year.
RBC ION+ Visa
RBC ION+ Visa
7,000 points
3 points per $1 spent
20.99%
$48
Apply now
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Min. recommended credit score: 660
Get up to 7,000 points. Get 3,500 Welcome Points on approval and earn 3,500 bonus points when you spend $500 in your first 3 months. Apply by July 31, 2023.
RBC ION Visa
RBC ION Visa
3,500 points
1.5 points per $1 spent
20.99%
$0
Apply now
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Min. recommended credit score: 660
Get 3,500 Avion points when you get approved for the card. Apply by July 31, 2023.
American Express Green Card
American Express Green Card
10,000 points
1 point per $1 spent
20.99%
$0
Apply now
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Min. recommended credit score: 700
Earn a Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first 3 months as a new Cardmember. That’s $100 towards groceries or concert tickets.
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Bottom line

The HSBC Premier World Elite Mastercard is a premium travel card reserved for high earners and HSBC Premier members. You may benefit from this card if you’re a frequent flyer and don’t mind paying a high annual fee to get access to a full suite of travel benefits along with double the points for travel purchases.

Frequently asked questions about the HSBC Premier World Elite Mastercard

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