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HSBC Premier World Elite Mastercard Credit Card Review

overall rating

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The HSBC Premier World Elite Mastercard offers those who already have a high-worth relationship with the bank rewards of 3 points per dollar on travel purchases, and 2 points per dollar on dining purchases. Along with a significant range of travel benefits, there's a one-time offer worth $750 when redeemed for airfare. But the card carries a hefty annual fee of $395.

HSBC Premier World Elite Mastercard® credit card

Overall Rating
HSBC Premier World Elite Mastercard® credit card
On HSBC's Secured Site.
Current Offer

50,000 bonus points, worth at least $750 in air travel, after spending $4,000 in the first 3 months from account opening.

Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Regular APR (%) 19.24% - 23.24% variable
Annual Fee $395
Rewards Earning Rate 3 points on travel, 2 points on dining, and 1 point on all other purchases.
Balance Transfer Fee Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check.
Foreign transaction fee (%) 0%
how this card stacks up
When compared among all rewards cards in our database:
Low Fees
Security/Customer Experience
Low Interest
worst best

The HSBC Premier World Elite Mastercard credit card is no longer offered. You can review our list of the best travel credit cards for more options.

Full Review of HSBC Premier World Elite Mastercard Credit Card

  • Competitive bonus offer

  • $100 annual airline credit and other travel benefits

  • Cell-phone protection

  • Requires a qualifying HSBC Premier account

Pros Explained

  • Competitive Bonus Offer: New cardholders can earn a one-time 50,000-point bonus by spending $4,000 on this card in the first three months after opening an account. According to HSBC, this offer is worth $750, when redeemed for airfare. The spending requirement is on the high side, for what isn't the highest bonus available among luxury travel cards. Still, this is a very competitive offer.
  • $100 Annual Airline Credit and Other Travel Benefits: As you might expect from a luxury travel card, the HSBC Premier World Elite Mastercard carries a wide range of travel benefits. Leading the way is a $100 annual statement credit that can be applied to any air travel spending. There’s another $100 annual statement credit for rides with Uber and Lyft (at up to $20 per ride), and $1 million in travel insurance coverage. It also offers two one-time complimentary passes to more than 1,000 LoungeKey airport lounges throughout the world and statement credits for Global Entry or TSA Precheck every four years.
  • Cell-Phone Protection: If you use the HSBC Premier World Elite Mastercard to pay your monthly phone bill, you'll get up to $800 in protection for your cell phone, subject to a $50 deductible. You can make two claims per 12-month period up to a maximum of $1,000 per covered card. While theft is covered, an unexplained loss of the phone is not. And any eligible damage must affect the phone’s functionality, which precludes repairs for cosmetic reasons alone, or due to abuse or what’s deemed to be normal wear and tear. Finally, this is secondary coverage that kicks in after you’ve received the benefits from any coverage from your existing phone insurance policies.

Cons Explained

  • Requires a Qualifying HSBC Premier Account: You need to be an HSBC Premier customer in order to get this card, and the requirements are stiff. You must either maintain a combined balance of $75,000 between personal and investment accounts; make at least $5,000 in direct deposits each month; or hold a mortgage with HSBC with an original principal of at least $500,000. Unlike the less-costly HSBC Premier World Mastercard, this card does not allow you to drop the account qualification requirement after receiving the card and only pay an annual fee. That means in order to keep this card, you’ll need to continuously qualify as a Premier customer with HSBC.

This Card is Best For

  • Avatar for Rewards Strategist Persona
    Seeks to maximize points or miles earnings across spending categories
    Rewards Strategist
  • Avatar for Frequent Flyer Persona
    Flies often for business or leisure
    Frequent Flyer
  • Avatar for Frequent Diner Persona
    Dines out regularly while traveling or in home city
    Frequent Diner
  • Avatar for International Traveler Persona
    Travels outside of U.S. on occasion or frequently
    International Traveler

The HSBC Premier World Elite Mastercard is for those who already have a relationship, involving considerable funds, with HSBC and are willing to pay a high annual fee to earn rewards on their credit-card spending and enjoy a number of travel benefits.

This is indeed a card for high-worth HSBC customers. To qualify for the required Premier status, you must either maintain an account balance of at least $75,000, make hefty direct deposits to it every month, or hold a mortgage. Then after qualifying, you must pay a steep annual fee of $395 for the card.

That fee will be justified for those who fly at least once a year and use ride-sharing services at least five times a year. That’s thanks to the card’s $100 annual statement credits for each of an airline purchase and up to five Uber or Lyft rides of at least $20 each.

The card has appeal, too, if you have no insurance on your cell phone, since it extends $600 in complimentary coverage provided you pay your cellphone bill with the card. While there are caveats to the protection, including that it covers a total loss only when the phone is stolen, it still offers peace of mind about the most valuable item most of us carry around with us. 

HSBC World Elite Mastercard Bonus

New cardholders can earn a one-time offer of 50,000 points after spending at least $4,000 on eligible purchases within the first three months after opening an account. 

That’s a higher spending requirement than with the many offers that require $3,000 as the minimum “spend” for comparable rewards. The offer is worth $750 when redeemed to purchase airline travel through HSBC’s rewards portal. The bonus points post four to six weeks after the promotional period has ended.

Rewards Earning Details

Cardholders earn 3 points per dollar on travel purchases and 2 points per dollar on dining purchases. All other purchases on the card earn 1 point per dollar spent. There's no limit to the number of points you can earn in a year and points don't expire as long as your account is active.

HSBC has a fairly broad definition of travel purchases. It includes airlines, hotels, motels, travel agencies, tour operators, cruise lines, bus lines, automotive and vehicle rentals, truck rentals, boat rentals, motor homes and recreational vehicles, campground and trailer parks, automobile parking lots and garages, bridge/road fees and tolls, trains, railroads, ferries, and limousines and taxi cabs.

HSBC’s definition of dining is broad as well. It includes restaurants, cafes, bars, lounges, and fast food outlets.

Points are credited to your HSBC account within one to two billing cycles after the purchase is made.

Rewards Redemption Details

Points can be redeemed through the Premier program in several ways: 

  • Travel statement credit
  • Travel through the HSBC rewards portal
  • Cash back as a direct deposit to an HSBC bank account
  • Statement credit on the credit card
  • Merchandise from hundreds of brands
  • Gift cards for travel, shopping, and more  
  • CharityChoice Gift Card to one of more than 1,000 charitable organizations
  • Annual fee reimbursement

All redemptions must be made through the HSBC rewards portal. Points redeemed for airfare, are worth 1.5 cents per point. Cash back and gift card redemption rates will vary.

Transferring Points

HSBC’s Rewards for Miles program allows Premier cardholders to transfer points to the frequent flyer/reward programs of several airlines including Asia Airlines, Singapore Airlines, and British Airways at varying transfer ratios, depending on the airline.

That said, in consecutive messages during an online chat, an HSBC rep said the rate “was one point per mile” and “varies by the airline.” If this program is important to you, call the Premier Rewards Department at 888.662.HSBC (4722) to confirm rates for the airlines to which you are loyal or may want to fly. Points earned on this card cannot be transferred to other individual’s accounts.

How to Maximize Your Rewards

Getting the most out of this card begins with meeting the $4,000 spending requirement within the first three months after opening an account. That spending will allow you to earn the card’s 50,000-point bonus.

After that, use this card to pay for all of your travel and dining purchases, which earn 3 points per dollar and 2 points per dollar, respectively. Keep in mind that using this card for other purchases isn't as beneficial, since those expenses only earn 1 point per dollar.

You'll get even more value out of this card by taking advantage of its features. Look to find occasions where you can use the $100 travel statement credit, $100 credit towards Uber and Lyft rides, and the fee credit against Global Entry or TSAPrecheck.

Here are two scenarios to demonstrate how many points you might be able to make with the HSBC Premier World Elite Mastercard.

Average Case

Let's say you travel twice per year. We'll assume that each way you purchase a domestic round-trip ticket that costs $350, which is around the average price of a domestic flight, according to the Bureau of Transportation. Those tickets would together cost $700, and would earn 2,100 points (with the 3 points per dollar rate for travel purchases).

Let's further assume that, on both trips, you stay a total of five nights in a hotel that costs $150 per night. With a total of $750, you’d earn 2,250 points (given the 3 points-per-dollar travel rate). In addition, you charge $200 per month in dining purchases on this card; that $2,400 in annual spending earns 2 points per dollar spent, for a total of 4,800 points.

Overall, you'd earn 9,150 points on this card—2,100 points from the airfare, 2,250 points from the hotel stays, and 4,800 points on the dining bills. Those points are worth $137 when redeemed for airfare through HSBC.

Aspirational Case

This scenario is further geared towards the high-worth households that are likely to carry this card. Let's say you and three family members purchase four round-trip domestic economy-class tickets, again at $350 apiece, and share a $200-per-night hotel suite for five nights. That spending—$1,400 on flights and $1,000 on hotels—will earn 7,200 points at the 3 points per dollar travel rewards rate. You spend an additional $2,000 on car rentals and taxis throughout the year, which also earns 3 points per dollar—for an additional 6,000 points. Total points for travel: 13,200 points.

Finally, let's say that you and the family spend $300 per month for the family on dining. At the 2-points-per-dollar rate for dining, that $3,600 in spending would earn 7,200 points.

Overall, you would spend $8,000 and earn 20,400 points. We value those rewards at around $306 when redeemed for airfare.

HSBC Premier World Elite Mastercard’s Outstanding Benefits

  • $100 annual air travel credit
  • $100 annual statement credit for rides with Uber and Lyft (up to $20 per ride)
  • Statement credit for Global Entry up to $100 or TSAPrecheck up to $85 every four years
  • $1 million in travel accident insurance
  • Trip cancellation/trip interruption insurance

Standard Benefits

  • Mastercard ID theft protection
  • Tap & go contactless payment
  • Cellular wireless phone protection

Cardholder Experience

HSBC earned below-average scores in J.D. Power's 2021 credit card satisfaction survey, ranking lseventh out of 11 card issuers.

Customers can contact an HSBC representative about their Mastercard 800-975-4722 or report a lost or stolen card 24/7 at 800-462-1874. Customer service can also be reached by visiting a branch, writing to HSBC, or by tweeting questions and comments to @HSBC_US.

Security Features

This card comes with security features that meet the industry norm. Cardholders get chip technology, 24/7 fraud monitoring and alerts, and zero fraud liability. Mastercard's ID theft protection, cellular wireless protection, and identify theft resolution services are also included.

Fees to Watch out For

In addition to the $395 annual fee, cardholders are charged $65 annually for each authorized user.

Our Verdict

The HSBC Premier World Elite Mastercard has respectable rewards, attractive benefits, and a competitive one-time offer. Even its $395 annual fee, its biggest drawback (other than its hefty HSBC Premier requirements), is justified by half for frequent travelers by the card’s twin $100 statement credits—against airfare and $20+ rideshare trips, respectively.

Still, justifying even half of such a large fee would require more than $4,000 in annual charges, and that’s at the card’s highest rewards rate, for travel spending. Premier customers who prefer to pay less (but get less in rewards) can opt for the HSBC Premier World Mastercard. It has no annual fee for Premier customers, and there’s the option to pay a manageable $95 if you no longer qualify for Premier status after getting the card. You earn 2 points per dollar on travel purchases and 1 point on all other purchases. There's a 35,000-point bonus offer after spending $3,000 in the first three months after opening an account.

Alternatively, heavy travelers who are prepared to pay a high annual fee might be better off with a luxury travel card that doesn't require a banking relationship and provides better rewards. The Chase Sapphire Reserve card is a good example. While it charges a $550 annual fee, it doesn't require you to have a Chase banking relationship and it offers 3 points on travel and dining worldwide.

There's also a 50,000-point bonus and a $300 annual travel credit. Chase Ultimate Rewards points from the Sapphire Reserve are worth the same as HSBC points when used for airfare, according to Investopedia's valuation, but Ultimate Rewards have more travel partners, thanks to HSBC, from which to redeem.

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For HSBC Premier World Elite Mastercard® credit card
on HSBC's Secured Site.
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HSBC Premier World Elite Mastercard® credit card
overall rating
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Regular APR (%) 19.24% - 23.24% variable
Annual Fee $395
Rewards Earning Rate 3 points on travel, 2 points on dining, and 1 point on all other purchases.
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.