HSBC Premier World Elite Mastercard Review

This 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 review will provide you with with all the details you need to make a good choice.

• Generous reward rate. You will get a rewards rate of up to 3x.
• Signup bonus. Offers a signup bonus of 50000 points after spending $4,000 within 3 months that can be redeemed for travel, gifts, or other perks.
• Competitive APRs. HSBC Premier World Elite Mastercard has a variable purchase APR that ranges from 14.99% up to 18.99%.
• 4% Balance transfer fee. HSBC Premier World Elite Mastercard charges a fee of 4% on balance transfers. For example, a balance of $1,000 could cost $40 in transfer fees. The minimum fee is $10.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry 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, identity theft protection, price protection, purchase protection, travel accident insurance, travel assistance, trip cancellation insurance, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 650.

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. Potentially lower than average purchase APRs. 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 Pre✓®. Identity Theft Protection. Travel accident and travel assistance insurance. Trip cancellation insurance. No foreign transaction fee. Cardholders can earn rewards on their purchases. HSBC Premier World Elite Mastercard reports to multiple credit bureaus.

Very high annual fee Charges an annual fee of $395 Charges a 4% balance transfer fee.

Does HSBC Premier World Elite Mastercard have a cash back or rewards program?

HSBC Premier World Elite Mastercard is a travel rewards card.

HSBC Premier World Elite Mastercard Rewards

Minimum rewards rate	2x
Max rewards rate	3x
Annual rewards limit	N/A
Signup Bonus (Points/Miles)	50000
Signup Bonus Spend Requirement	$4000
Signup Bonus Spend Period (months)	3 months
Annual Loyalty Bonus	$100

What are the HSBC Premier World Elite Mastercard benefits?

It 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
• Cell Phone Protection
• Travel Assistance
• Reports to major credit bureaus

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

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

HSBC Premier World Elite Mastercard has a variable purchase APR that ranges from 14.99% up to 18.99%. The card has a variable balance transfer APR that ranges from 14.99% up to 18.99%. It also has a variable cash advance APR of 24.99% . Note that late payments are subject to an APR of 29.99% 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:

HSBC Premier World Elite Mastercard Fees

Fees	Amount
Annual Fee	$395
Foreign Transaction Fee	0%
Returned Payment Fee	up to $39
Late Payment Fee	up to $39

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

Yes, 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 may help improve your credit.

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