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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.
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.
- Sign-up offer. New cardholders will be awarded with up to S$350 cashback. It consists of S$50 cashback with one qualifying transaction, S$120 cashback with a minimum spend of S$500 and S$30 cashback when you apply with MyInfo via SingPass. Plus, get up to S$150 cashback when you apply for HSBC Premier Mastercard supplementary cards. For existing cardholders, you can receive up to receive up to S$60 cashback. T&Cs apply. Ends 30 April 2021.
- Petrol discount. Enjoy up to 16% instant discount and an additional 5% cash rebate when you refuel at Caltex and Shell stations in Singapore. You’ll also earn 5% cash rebate on all petrol spend overseas.
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.
- 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
- 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
- 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
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