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HSBC World Elite Mastercard review

A generous rewards program and premium travel benefits await you with the HSBC World Elite Mastercard. 

Earn up to 80,000 Points ($400 travel value). Plus, get the 1st year annual fee waived for the primary cardholder ($149 value) and receive a $100 travel enhancement credit. Terms apply. Apply by February 28, 2023.
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$0 annual fee for the first year ($149 thereafter)

Annual Fee

Up to 6 points per $1 spent

Rewards

30-second take

  • Consider this card if you’re a frequent flier who likes to use their credit card to book vacations and other flights.
  • Choose something else if you want a rewards program that lets you earn points on everyday purchases like groceries or gas.
  • You must be a Canadian resident and the age of majority in your province to apply for the card.

The basics

While there are plenty of travel rewards programs to choose from, HSBC is upping the ante with its World Elite Mastercard. This card provides a gateway to the HSBC World Elite Rewards Program, which lets you rack up travel rewards on all eligible travel purchases.

HSBC World Elite Mastercard is for frequent fliers who want all the benefits of a premium rewards program and aren’t afraid to pay for it. This card not only lets you earn rewards on all eligible travel purchases, but it also offers no foreign transaction fees. That means you can travel the world and book tickets in other currencies without having to incur hefty conversion charges.

HSBC World Elite Mastercardalso provides hefty insurance protection, including an emergency cash transfer up to a maximum of $5,000 if your card is lost or stolen.

The perks

  • Welcome bonus. Earn up to 80,000 Points ($400 travel value) and receive a $100 travel enhancement credit. Earn a Welcome Bonus of 20,000 Points ($100 travel value), earn 40,000 Points when you spend $6,000 within 6 months ($200 travel value) and earn 20,000 Points as an anniversary bonus ($100 travel value). Terms apply. Apply by February 28, 2023.
  • Earn cash back Travel Rewards. Earn 3% in travel rewards on all eligible travel purchases (6 Points per $1 spent) and earn 1.5% in travel rewards on all other eligible purchases (3 Points per $1 spent).
  • Comprehensive insurance. In addition to emergency cash transfer, this card provides worldwide emergency travel insurance for up to 31 days.
  • No foreign transaction fees. Only the exchange rate will apply.

What to watch for

  • Fees. This Mastercard will set you back $149 annually as a primary cardholder, while each additional card has an annual fee of $50.
  • High interest rates. If you carry a balance on your HSBC Mastercard, expect to pay 19.9% interest on purchases and 22.9% on cash advances.
  • High annual income requirement. To be eligible for this card, you need to have an annual income of $80,000 as an individual or $150,000 as a household.

HSBC World Elite Mastercard interest rates

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

What should I know before I apply

How to apply

  1. Visit HSBC’s website to start the online application.
  2. Fill out the standard credit card application, which should take five minutes to complete.
  3. Review and submit your application.

The bottom line

HSBC World Elite Mastercard could be your gateway to competitive travel rewards, complimentary membership to airport lounges and month-long travel medical insurance coverage – but only if you meet the minimum income requirements and are willing to pay annual fees. Depending on how much foreign shopping you do, the membership fee can pay for itself with all the savings you get in foreign transaction fees.

Frequently asked questions about the HSBC World Elite Mastercard

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