HSBC Premier Points

HSBC Rewards lets you earn more points if you travel abroad, that can be redeemed for a range of enticing vouchers.

HSBC Premier offers two rewards credit card options. One of them comes for a pricey annual fee but also doubles the earn rate, while the other has no annual fee but you earn rewards more slowly.

Aside from the Rewards scheme, both credit cards also include some decent perks, such as airport lounge access and hotel discounts. Here we look at how the rewards programme works and its pros and cons, but you can learn more about the features of each credit card in the comparison table below.

How to earn HSBC Premier points

You earn HSBC Premier points every time you shop with your Premier credit card. The two cards have a different earn rate, but with both you get twice the points when you use them abroad, for non-sterling purchases.

The downside is that both credit cards charge a fee for abroad usage, so you may want to consider the costs and the advantages carefully before going on a spending spree outside the UK.

You can check your points balance online by logging in to your standard online banking.

How to redeem HSBC Premier points

HSBC Premier points can be redeemed online or on the phone, in return for air miles, vouchers, high-quality wine or charity donations.

All in all, this covers a good range of reward types – whether you’re up in the air all the time travelling from one city to the next or prefer sitting on your sofa at home with a good glass of red, chances are that HSBC Rewards has got something to your taste.

While the HSBC Rewards scheme lets you earn points quickly, it also takes quite a lot of them to get a reward – it’s usually 1,500 points for a £5 voucher. If you collect them using the standard fee-free Premier credit card, you’ll need to spend £1,500 to get there.

Keep in mind that HSBC reward points expire 3 years after their date of issue. You will be reminded in your statement if your points are about to expire.

Compare credit cards that earn HSBC Premier Reward Points

Table: sorted by representative APR, promoted deals first
1 - 2 of 2
Name Product Max. intro bonus Default earn-rate Annual/monthly fees Representative APR Link Incentive Representative example
HSBC Premier Credit Card
1 point per £1 spent
23.9% APR (variable)
A selection of rewards from a range of partners. Earn 1 point for every £1 spent within the UK and earn 2 points for every £1 spent outside the UK. Points can be redeemed for shopping vouchers and frequent flyer miles. 1 point = 1p (no min)
Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).
HSBC Premier World Elite Credit Card
40,000 points
2 points per £1 spent
£195 per annum
59.3% APR (variable)
2 points for every £1 spend in the UK. 4 points for every £1 spend outside the UK. 40,000 Anniversary Points Boost - qualifying spend £12K in 12 months from account opening. Points can be redeemed for airline frequent flyer miles, retail vouchers from selected stores and luxury wines and champagnes or can be used to make donations made to the charity of the customer's choice. 1 point = 1p (no min)
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £195 per annum, your representative rate is 59.3% APR (variable).

Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Pros and cons


  • Good choice of reward options.
  • Double earn rate when using the card abroad.
  • Points can be donated to charity.
  • Additional cardholders can be added.


  • Value-per-point is comparatively low.
  • Foreign transaction fees.
  • No automatic points redemption option available.

Who are HSBC Premier’s partners?

The HSBC Premier Rewards scheme doesn’t have loads of partners, but they cover a good range of interests.

The scheme also allows you to donate your points to charity providing an effortless way of supporting a cause you believe in.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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