HSBC Premier Credit Card review April 2019

HSBC Premier Credit Card Mastercard
HSBC Premier Credit Card Mastercard

A card with 0% offers and perks aplenty – but it’s only available to a select few.

“Premier” is the HSBC’s suite of services exclusively for high-earners or individuals who have large sums invested with the company. To apply for this card you’ll need to already have a Premier bank account.

If you can get your hands on one, this all-rounder comes with rewards, introductory 0% periods on both purchases and balance transfers and no annual fee.

Frequent travellers can take advantage of discounts and perks, including free LoungeKey membership. There’s also a decent rewards programme, which can be spent on travel and shopping.

Key details

IssuerHSBC
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 18 months reverting to 18.9%
Balance transfer fee1.4% (min. £5) for 2 months reverting to 2.9% (min. £5)
Purchases0% for 9 months reverting to 18.9%
Purchases interest-free periodUp to 56 days
Cash advances18.9%
Min. credit limit£1,500
Max credit limitNot specified
Additional cards available3
IncentiveA 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.
Lounge accessMembership to LoungeKey, access to over 750 airport lounges worldwide. Charged at £15 per person per visit.
Annual/monthly fees£0
Balance transfer fee1.4% (min. £5) for 2 months reverting to 2.9% (min. £5)
Foreign usage charge (EU)2.99%
Foreign usage charge (rest of world)2.99%
Cash advance fee2.99% (min. £3)
Late payment fee£12
Duplicate statement fee£0
Exceeding limit fee£12
Additional card fee£0
Replacement card fee£0
Dormancy fee£0
Minimum Age18
ResidencyMust hold an HSBC Premier Current Account, eligibility criteria applies
AvailabilityAvailable to existing customers
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
Finder.com is a credit broker, not a lender, for consumer credit products. Our services are provided at no cost to you, but we may receive a commission from the companies we refer you to.

Pros and cons

Pros

  • 0% interest on balance transfers for an introductory period.
  • 0% interest on purchases for an introductory period.
  • No annual fee.
  • Rewards points for every £1 you spend.
  • Extended warranty cover.
  • Access to HSBC Premier Privileges (discounts and experiences).
  • Free LoungeKey airport lounge membership.

Cons

  • Must be existing HSBC Premier Bank customer.
  • Minimum income of £75,000 or have a HSBC mortgage, investment, life insurance or protection product.
  • Balance transfer fee.
  • Foreign transaction fees.

How does this card compare with other similar cards on the market?

Comparison ordered by representative APR with affiliated products shown first.
Updated April 19th, 2019
Name Product Purchases Balance transfers Annual/monthly fees Rep. APR Incentive Representative example
0% for 20 months reverting to 19.9%
0% for 20 months reverting to 19.9%
£0
19.9%
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 18 months reverting to 22.9%
N/A
£0
22.9%
Earn 1 Membership Rewards® point for every £1 spent.
Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).
0% for 28 months reverting to 20.95%
0% for 28 months reverting to 20.95%
£0
20.9%
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).
0% for 20 months reverting to 19.95%
0% for 20 months reverting to 19.95%
£0
19.9%
Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 3 months reverting to 19.95%
0% for 29 months reverting to 19.95%
£0
19.9%
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 3 months reverting to 20.95%
0% for 22 months reverting to 20.95%
£0
20.9%
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).
0% for 27 months reverting to 20.95%
0% for 3 months reverting to 20.95%
£0
20.9%
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).

Compare up to 4 providers

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0345 7404 404), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:
Minimum amount Fixed amount Fixed percentage Full amount

How to apply for the HSBC Premier Credit Card

If you’ve compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you’ll need to make the process as straightforward as possible.

*Disclaimer: The offers compared on this page are chosen from a range of products finder has access to track details from and is not representative of all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The use of terms "Best", "Top", "Cheap" including variations, are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site