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HSBC Premier Mastercard Credit Card Review

Earn cash rebates on your daily expenses and pay no annual fee with the HSBC Premier Mastercard credit card.

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HSBC Premier Mastercard Credit Card

The HSBC Premier Mastercard is an exclusive credit card only offered to HSBC Premier customers. A combination of competitive cash rebates, travel perks and free-for-life subscription, this card also allows you to earn up to S$1,800 cash rebate annually.

If you’re looking to take advantage of premium features while keeping your card costs down, you can compare the fees, features and benefits of this card below.

Benefits of using an HSBC Premier Mastercard

Here are the features you should consider when looking at the HSBC Premier Mastercard:

  • Cash rebates. This card’s key benefit is the competitive cash rebates you can earn for all eligible daily expenses, when you spend at least S$600 per month. Receive 5% cash rebates on groceries, petrol and transport (taxis, ride hailing, trains and buses) spend, both locally and abroad. Cash rebate is capped at S$150 per month.
  • Mastercard privileges. Gain access to exclusive benefits and curated offers through Mastercard’s Priceless™ Specials.
  • Travel benefits. This card offers a range of travel offers and promotions such as exclusive deals on flights, hotel stays and tour packages.
  • Redeem rewards using fewer points. For every S$1 charged to your card, you earn 1 Reward point that may be used to redeem merchandises, vouchers and other deals listed on HSBC Rewards catalogue. With the HSBC Premier Mastercard, you’re also entitled to use fewer points when you redeem them, making the most out of your rewards.
  • Up to S$240 sign up bonus. Get S$180 cashback or a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth S$670). Plus, get up to S$60 cashback when you apply for HSBC Premier Mastercard supplementary cards. T&Cs apply. Valid for applications made before 31 Dec 2020 and approved by 15 Jan 2021.
  • Petrol discount. Enjoy up to 16% instant discount and an additional 5% cash rebate when you refuel at Caltex stations in Singapore. You’ll also earn 5% cash rebate on all petrol spend overseas. Valid till 31 December 2020.

Features of the HSBC Premier Mastercard

Some of the HSBC Premier Mastercard competitive features include:

  • Perpetual annual fee waiver. The annual fee is permanently waived for this card. Considering other cards offering similar benefits, the HSBC Premier Mastercard saves you at least S$100 each year by waiving its annual fee.
  • Interest-free days. Take advantage of up to 20 days interest-free on purchases when you pay your statement in full each month.
  • Insurance coverage. HSBC offers complimentary coverage up to S$1 million against personal accidents and travel inconveniences. As long as you charge the full cost of your air fare and other eligible expenses to this card, you’ll automatically be entitled to the insurance benefits.
  • Additional cardholders. Add up to five additional cardholders to your credit account at no extra cost. Also, you can earn reward points for every eligible transaction made on the supplementary card(s).
  • Eligible for Apple Pay. Link your HSBC credit cards to any compatible Apple device, such as an iPhone, Apple Watch or iPad for fast and secure payments online, in stores and in apps.
  • Contactless payments. This card comes equipped with Tap & Go technology, allowing you to make quick and convenient payments at merchants accepting Mastercard contactless-enabled cards.

How to apply for the HSBC Premier Mastercard

As this card is only offered to HSBC Premier customers, you can apply by contacting your relationship manager directly, register your interest online/sms or call the 24-hour HSBC Premier banking hotline at 1800-227 8889.

Before you apply, make sure you’ve met the following eligibility requirements and have the necessary documents on hand.

Eligibility criteria

  • An existing HSBC Premier customer. To start an HSBC Premier relationship, you’ll need a minimum of S$200,000 in deposits, investments and/or insurance with the bank.
  • Earn at least S$30,000 p.a. if you’re a Singaporean or permanent resident, or S$40,000 if you’re self-employed or a foreign citizen.
  • Have a good credit rating
  • Be at least 21 years or older

Required documents

  • Completed and signed Letter of Instruction
  • Photocopy of your NRIC or passport
  • Photocopy of your employment pass (for foreigners only)
  • For salaried employees: CPF statement contribution, computerised payslips for the last three months; OR the latest Notice of Assessment with last month’s computerised payslip
  • For self-employed or commission-based earners: Notice of Assessment for the last two years

Additional documents

  • Identification documents for supplementary applicant(s), if any
  • Billing proof (eg, latest mobile bill, utility bill or bank statement) displaying your full name and mailing address

If you’re an existing HSBC Premier Banking customer looking to earn reward points from your daily expenses, getting the HSBC Premier Credit Card could be an option to consider. However, given that other credit cards can offer similar features, comparing a few at the onset is recommended.

Compare other credit cards from HSBC

Name Product Reward Cashback Offer Annual Fee Min Income - Singaporean and PR
HSBC Revolution Credit Card
Earn up to 10X Reward points or 4 miles per S$1 spent on qualifying purchases.
Choose between a S$150 cashback or Samsonite suitcase if minimum spend requirements are met. T&Cs apply. Ends 31 Dec 2020.
S$0 annual fee
S$30,000
New cardholders will be awarded with a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth S$670) or S$150 cashback with minimum spend of S$800 within the qualifying spend period while existing cardholders will get S$30 cashback. Receive an additional S$30 worth of Lazada vouchers when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 Dec 2020.
HSBC Visa Platinum Credit Card
Earn 1 Reward point for every $1 on all spend.
Up to 5% cash rebates on groceries, dining and fuel with minimum monthly spend of at least S$600.
S$0 annual fee for the first 2 years and S$192.60 thereafter
S$30,000
New cardholders will be awarded with a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth S$670) or S$150 cashback with minimum spend of S$800 within the qualifying spend period while existing cardholders will get S$30 cashback. Receive an additional S$30 worth of Lazada vouchers when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 Dec 2020.
HSBC Advance Credit Card
Choose between a sign-up gift of a Samsonite Prestige 69cm Spinner Exp luggage or S$150 cashback when minimum spend requirements are met.
Enjoy up to 3.5% cashback on all purchases with no minimum spend
S$0 annual fee for the first 1 year (permanently waived for HSBC Advance banking customers) and S$192.60 thereafter
S$30,000
New cardholders will be awarded with a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth S$670) or S$150 cashback with minimum spend of S$800 within the qualifying spend period while existing cardholders will get S$30 cashback. Receive an additional S$30 worth of Lazada vouchers when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 Dec 2020.
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