HSBC Premier World Elite Mastercard Review

HSBC Premier World Elite Mastercard is a rewards credit card issued by HSBC Bank USA. If you're wondering whether HSBC Premier World Elite Mastercard is the right card for you, read on. This is everything you need to know to make a good choice.

Key takeaways:

• Generous reward rate. You will get a a rewards rate of up to 3x.
• Earn a rewards rate of up to 3x.
• Signup bonus. Offers a signup bonus of 50000 points after spending $4,000 that can be redeemed for travel, gifts, or other perks.
• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR that ranges from 17.24% up to 21.24%.
• 3% Balance transfer fee. HSBC Premier World Elite Mastercard charges a fee of up to 3% on balance transfers. For example, a balance of $1,000 could cost up to $30 in transfer fees. The minimum fee is $5.
• $0 foreign transaction fee. This card does not charge foreign transaction fees, which makes a great credit card to carry with you when traveling abroad.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, airline credit, access to a concierge, emergency support, extended warranty protection on purchases, Global Entry / TSA Precheck Fee Credit, price protection, purchase protection, travel accident insurance, travel assistance, trip cancellation insurance, and fraud protection.
• Good or better credit required. You should probably try with another card if your credit score is below 670.

HSBC Premier World Elite Mastercard Pros and Cons:

The Good

The Bad

Unlimited Rewards Program Points with no expiration No blackout dates or seat restrictions. Complimentary membership to a network of 850+ airport lounges, plus two free lounge visits per year, and up to 15% off airport retailers Reimbursement for seat upgrades, baggage fees, in-flight purchases, as well as rides with Uber and Lyft. Multiple credit card perks. Airline Credit. Offers auto rental collision damage waiver. Access to a concierge. Extended warranty and price protection on purchases. Free access to your credit score. Global Entry / TSA Precheck Fee Credit. Travel accident and travel assistance insurance. Trip cancellation insurance. No foreign transaction fee. Cardholders can earn rewards on every purchase. Earn rewards on every purchase. HSBC Premier World Elite Mastercard reports to multiple credit bureaus. Cardholders can earn rewards on their purchases.

Very high annual fee Higher than average purchase APRs. Requires good to excellent credit. Charges an annual fee of $395 Charges a 3% balance transfer fee.

Is there a HSBC Premier World Elite Mastercard cash back or rewards program?

HSBC Premier World Elite Mastercard offers a rewards program to its customers.

HSBC Premier World Elite Mastercard Rewards

Rewards rate (all purchases)	2%
Max rewards rate	3%
Annual rewards limit	N/A
Signup Bonus ($)	N/A
Signup Bonus (Points/Miles)	50000
Signup Bonus Spend Requirement	$4000
Annual Loyalty Bonus	$100

What are the HSBC Premier World Elite Mastercard benefits?

HSBC Premier World Elite Mastercard provides the following benefits:

• Free Credit Score
• Auto Rental Collision Damage Waiver
• Emergency Support
• Extended Warranty Protection
• Trip Cancellation Insurance
• Zero fraud liability
• Price Protection
• Travel Accident Insurance
• Cellular Telephone Protection
• Travel Assistance
• ID Theft Protection
• Reports to major credit bureaus

What are the relevant APRs for HSBC Premier World Elite Mastercard?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. HSBC Premier World Elite Mastercard has higher than average purchase APRs.

HSBC Premier World Elite Mastercard has a variable purchase APR that ranges from 17.24% up to 21.24%. The card has a variable balance transfer APR that ranges from 17.24% up to 21.24%. The card has a variable cash advance APR of up to 27.24%.

Note that late payments are subject to an APR of 32.24% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What are the fees for HSBC Premier World Elite Mastercard?

The following fees apply to HSBC Premier World Elite Mastercard:

HSBC Premier World Elite Mastercard Fees

Fees	Amount
Annual Fee	$395
Foreign Transaction Fee	0%
Returned Payment Fee	up to $25
Late Payment Fee	up to $37

Does HSBC Premier World Elite Mastercard report your account activity to credit bureaus?

HSBC Premier World Elite Mastercard reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

How to apply for HSBC Premier World Elite Mastercard

• Visit the HSBC Premier World Elite Mastercard website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.