The HSBC Premier World Mastercard lets you choose between earning points through HSBC Rewards Plus or HSBC Qantas Rewards. It also offers a wide range of premium perks. This includes access to over 1,300 airport lounges through the Mastercard Travel Pass provided by DragonPass and complimentary travel insurance for both domestic and international trips.
HSBC Premier World Mastercard
Terms and conditions apply
- Balance transfer rate for 12 months with 2% balance transfer fee
- 0% p.a.
- Purchase rate
- 19.99% p.a.
- Reward points per $ spent
- 1.5
- Annual fee
- $0 p.a.
Our verdict
Earn either HSBC Rewards points or Qantas Points and enjoy perks including airport lounge access and complimentary travel insurance.
Pros
-
Choice of HSBC Rewards Plus or HSBC Qantas Rewards
-
$0 annual fee with HSBC Rewards Plus and HSBC Qantas Rewards
-
Complimentary domestic and international travel insurance
-
Two yearly complimentary airport lounge access through Mastercard Travel Pass provided by DragonPass
Cons
-
No introductory bonus points offer
-
3% foreign transaction fee
Details
Product details
| Product Name | HSBC Premier World Mastercard |
| Balance transfer rate p.a. | 0% for 12 months with 2% balance transfer fee, then 21.99% |
| Balance transfer limit | 90% of available limit |
| Purchase rate p.a. | Purchase rate p.a. 19.99% |
| Interest-free period | Up to 55 days on purchases |
| Cash advance rate p.a. | 21.99% |
| Min credit limit | $10,000 |
| Max credit limit | $50,000 |
| Card type | Mastercard |
Eligibility
| Available to temporary residents | No |
| Minimum income | $75,000 |
| Joint application | No |
Rewards
| Rewards program | HSBC Rewards Plus / Qantas Frequent Flyer |
| Bonus points | N/A |
| Rewards points per $ spent | 1.5 |
| Rewards points cap | 120,000 |
Fees
| Annual fee | Annual fee $0 |
| Minimum monthly repayment | 3% of the closing balance or $20, whichever is greater |
| Late payment fee | $30 |
| Foreign currency conversion fee | Foreign currency conversion fee 3% |
| Cash advance fee | 3% or $4, whichever is greater |
| Overseas cash advance fee | The higher of $4 or 3% of the total transaction amount |
| Overseas ATM withdrawal fee | $0 |
| Additional cardholder fee | $0 |
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Amy Finder
Editor
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Richard Whitten Finder
December 09, 2024
Hi Martin,
Looking closely at the product, you need a HSBC Everyday Global Account and maintain a regular monthly deposit of $9,000 into the account, or hold a combined balance of $150,000 in various HSBC Australia accounts. I can’t see any reference to a $420 fee or a cash management account.
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Andrew
October 30, 2024
If retired does a tax-free superannuation pension stream count as income.
Angus Kidman Finder
October 30, 2024
Hi Andrew, Yes, a regular pension stream would count as an income source when applying for this card – but note that you would still need to earn at least $75,000 in total each year to meet the income requirement.
Tony
September 17, 2024
Under the heading earning points there is a statement Exclusions include BPAY payments, government fees and charges, cash advances and business expenses. A lot of expenses for Rates, Insurances, just about all the bills I pay fall under BPAY. Please confirm that with these types of payments there are no QANTAS points applied with these payments at all. Thanks
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Angus Kidman Finder
September 17, 2024
Hi Tony, That’s correct – payments you only make via BPAY and government payments won’t earn points. You can learn more about ways to potentially use BPAY and earn points in our detailed guide. Hope this helps!
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Enrique Manuel Alamos Chaparro
June 23, 2024
Hi l want to know which best credit card low interest yearly
Sarah Megginson Finder
July 02, 2024
Hi Enrique,
You can find a range of low interest rate credit cards here.
Hope this helps!
Diane
April 27, 2024
for the annual fee charges, you had mentioned for – If you pick the HSBC Qantas Rewards option, you’ll earn 1 Qantas Point per $1 spent on eligible purchases and pay a $0 annual fee as well.
But showing in details as – If you pick the HSBC Qantas Rewards option, you’ll earn 1 Qantas Point per $1 spent on eligible purchases and pay a $0 annual fee as well.
Just wonder is there any fee charges if choose Quantas Point rewareds. Thanks!
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Sarah Megginson Finder
June 26, 2024
Hi Diane, if you choose the Qantas rewards option, you do have to pay $99. Joining Qantas Frequent Flyer itself can be done for free – check out our guide on how to do that.
Hope this helps!
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martin
December 08, 2024
Reading more deeply into the HSBC card it really costs 420 dollars a year as you have to have a cash management account with HSBC. Unless you are already their customer I cannot see why they should score highly. Lousy, I would suggest!
Please let me know if I am wrong.