HSBC Premier World Mastercard

HSBC Premier World Mastercard Review

This is a cashback card issued by HSBC Bank USA. If you're wondering whether HSBC Premier World Mastercard is the right card for you, read on.

Key Takeaways

• Signup bonus. Offers a signup bonus of 35000 points after spending $3,000 within 3 months 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%.
• No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible purchases, but you don't have to pay an annual fee for the privilege.
• 4% Balance transfer fee. HSBC Premier World 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 Auto Rental Collision Damage Waiver, emergency support, extended warranty protection on purchases, identity theft protection, price protection, purchase security, travel accident insurance, travel assistance, trip cancellation and interruption protection, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 650.

Pros & Cons of HSBC Premier World Mastercard

The Good

The Bad

No annual fee. Multiple credit card perks. Offers Auto Rental Collision Damage Waiver. 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 and Interruption Protection. No foreign transaction fee. Cardholders can earn rewards on purchases everywhere HSBC Premier World Mastercard is accepted. HSBC Premier World Mastercard reports to multiple credit bureaus.

Higher than average purchase APRs. Charges a 4% balance transfer fee

HSBC Premier World Mastercard FAQ

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

This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1% cash back on travel, dining, groceries, drugstore purchases, or any other purchase. For example, if you buy a $1,000 laptop, you will receive $10 back in cash. However, you can earn up to 2% for purchases in a bonus category.

HSBC Premier World Mastercard Rewards

Minimum rewards rate	1x
Max rewards rate	2x
Annual rewards limit	N/A
Signup Bonus (Points/Miles)	35000
Signup Bonus Spend Requirement	$3000
Signup Bonus Spend Period (months)	3 months

What are the HSBC Premier World 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
• No blackout dates when redeeming miles
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for HSBC Premier World 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 higher than average regular APRs.

HSBC Premier World 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%. It also has a variable cash advance APR of 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 Mastercard?

The following fees apply:

• There is no overlimit fee

HSBC Premier World Mastercard Fees

Fees	Amount
Annual Fee	$0
Overlimit Fee	$0
Initial Program Fee	$
Foreign Transaction Fee	0%
Returned Payment Fee	Starting at $ up to $39
Late Payment Fee	Starting at up to $39

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

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

Yes, HSBC Premier World 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 Mastercard

• Visit the HSBC Premier World 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.