Breaking news – a new UK MasterCard offering 1 Avios per £1 spent!

I will write a full post on this later, which will go up tomorrow. However, for now, here is a quick taster.

HSBC has relaunched its HSBC Premier credit card this morning.

HSBC Premier

From today, for every £1 spent on your HSBC Premier MasterCard, you will receive:

1 Avios, or

1 Etihad Guest mile, or

1 Asia Mile, or

1 Singapore Airlines KrisFlyer mile

Now, there are strict requirements for HSBC Premier which will exclude a lot of people. I will cover this tomorrow, though.

For now, you can check out the details here.

(To see our complete list of all current credit card bonuses, click here to visit our ‘Credit Cards Update’ page or use the link in the menu bar at the top of the page.)

Amex Platinum now offering Hertz Five Star status
100 free Clubcard points (240 Avios) for 30 seconds work
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Comments

  1. James Smith says:

    It’s actually
    1 Point = 5 Avios

    • It’s weird… On the one hand, the text says “Every £1 spend on your HSBC Premier Credit Card is worth 1 airline Frequent Flyer mile”.

      Yet, when you click on the link “how to convert your points” link – you’re right, it does show the 1 point = 5 Avios…

      I’m not sure which to believe? At 1:1, I probably won’t bother! And 1:5, I’ll definitely bother and move some of my banking/investments!

      • Actually, even the T&C’s say 1:5…

        “7. HSBC Premier Credit Card Reward Points redeemed as part
        of the Miles Programme will be redeemed at a rate of 1 Reward
        Point for 5 miles. HSBC Bank plc may, at our discretion, change
        the redemption rate by giving you at least 30 days written notice,
        which includes statement messages.”

        If this is the case, HSBC are screwing up massively by not making this clearer. I almost entirely discounted this after seeing their requirements and thinking I wouldn’t bother. At 1:5, I’d probably consider moving some of my banking activity to them, and sayōnara AmEx!

      • The old scheme was 1 point per £5. It is now 1 per £1. Hence the odd text – the ‘old’ points convert at 1 to 5.

  2. Wow, VERY steep criteria. Perhaps the steepest in the industry?

    The easiest of which being:
    “- an investment, life insurance or protection product”

    It might be worth taking life insurance out with them just so you can get the card.

  3. Wonder if it will be offered to existing Premier customers?

  4. 100k annual income, sorry i got only 96k.

  5. Presumably, you get 1 point for 5 pounds of spend, making it 1 Avios per pound…

  6. What's the Point says:

    Reading a little closer, its seems its an Either/Or on the £100k income vs £50k savings

    HSBC Premier (which is I believe how you get this card) is available to you, as long as you pay your annual income into your HSBC Premier Bank Account and either:

    -have savings or investments of at least £50,000 with HSBC in the UK;
    or
    -have an individual annual income of at least £100,000

    and one of the following products with HSBC in the UK:
    – a mortgage;
    – an investment, life insurance or protection product;

    Massive hurdles to get this card, but well worth if its a 5:1 conversion!

    • The page Raffles provides the link to clearly states that you get 2 points for every 10 pounds you spend. Therefore, if you get 5 Avios per POINT (not per pound), it’s 1:1. So nothing to get too excited about, I’m afraid, since it’s no better than the AMEX deals. Yes, it’s a Mastercard, so you can use it in places which don’t accept AMEX, but whether it’s worth all the hassle is something I doubt. Certainly not worth taking out life insurance or other products just to get the 1:1 rate on spend at places which don’t take AMEX.

    • Its1:1 see

      Earn two points for every £10 spent on the card and save up to treat yourself or someone you love. Go on a spree with shopping vouchers for stores like M&S, Amazon and Boots. Sample a special selection of wines and champagnes from Laithwaites. Jet off with Reward for Miles or take that feel good factor even further and donate your points to charity.
      View our Premier Credit Card Rewards and Benefits for full details.

      Or

      Reward for Miles
      You can earn one airline frequent flyer point for every £1 spend on your HSBC Premier Credit Card when you use your reward points towards Reward for Miles. Simply redeem with our selected partner airlines and you could be jetting off to your favourite destination.
      View our Premier Credit Card Rewards and Benefits for full details.

      So £10= 2points = 10avios or £1 = 1 avois

      • Actually it is probably worst. When you buy something for £9.99 you get zero comma zero points. So it possibly to spend £1000 and earn 0 Avios.

  7. Think people might be misreading here on the £1 spend = 5 Avios. What it apears to say is “earn two points for every £10 of eligible spend” and each point gives 5 Avios, which is exactly £1 earning 1 Avios (it does also make clear that “Every £1 spend on your HSBC Premier Credit Card is worth 1 airline Frequent Flyer mile”).

  8. Yep! From what I can see it is 2 points for every £10 spent which does indeed equal 1 avios per £1. Not much to write home about!

  9. Just keep on using the Tesco MasterCard then, really….less hassle!

    • Agreed. It is not worth jumping through lots of hoops to get this when the Tesco card gives 0.6 per £, so 0.78 with a 30 per cent conversion bonus.

      However, if you do meet the income criteria then it may be worth looking at. HSBC is also, arguably, the best of the big banks to deal with.

      • Farringdon says:

        I’ve used HSBC Premier for several years and have been very impressed with the level of service. I don’t have their credit card – this might tempt me to get one – but their banking services seem to be a cut above their UK competitors (and I have direct experience with 2 of the other major banks).

  10. At 2 points per £10 and 5 Avios per point, I’m not interested. My BMI MC pays a better rate for free. Well, unless they offer a 500k sign up bonus or something ridiculous.

    At 5 Avios per £, I’m in.

  11. I had 2600 points collecting dust on my Premier card so have just converted them to over 13000 Avios. Thanks for the heads up Raffles!

    • My wife and I have these cards for about 18 months and only use them where Amex not accepted.
      Always assumed they were pretty useless. Not anymore! Does anyone know if they are likely to offer a conversion bonus? We have 7000 points- undecided to convert or wait.

  12. Thanks for the info Raffles. Can easily use a relative’s UK address to sign up. UK bank account is also no problem since I have that through HSBC Premier. Do you happen to know if they ask for the mailing address for the bank account?

  13. The rounding factor kills this as a useful card. £9.99 you get nothing. £19.99 you get 10 Avios.

    With the best will in the world, it can’t be described as 1 Avios per £1 spent.

    I’m finding the AA card is my goto card at the moment for non-amex acceptance. Keeps the AA account alive, and adds to the AA balance.

    • I’m not sure that is how it works, though. I cannot find the T&C’s but it may be based on the total monthly spend and not per transaction.

  14. I have to admit, as a Premier Account & Card user for many many years, I have found little value for this product, yes, if you can’t get the points elsewhere its okay, but given the options on points transfer from HSBC to Avios/Argos/Amazon etc, I think you are better off with other loyalty cards. As pointed out, the tipping point on £x to generate points also makes it less of interest, but then again Tesco CC do the same @ £4 spend. As a long standing user of HSBC Premier, I’d recommend keeping your Tesco CC in your wallet &/or BA Premium Amex.

    • … and just to add, I have never known HSBC to ever do a points transfer bonus. Its not in their nature.

  15. Thunderbirds says:

    It is all a lot easier with the Virgin AMEX & VISA package! Plus BAPP and AMEX Gold of course.

  16. I thought great…. until I read HSBC.

    Oh man, they have screwed up in the past in several different countries where I’ve used them. Where could I begin…. was it the failure of HSBC to respond to several letters telling them to close my account, the time I rang up phone banking and the operator’s English was so poor they couldn’t understand me, so they blocked my account and I had to post in a certified copy of my passport to unblock it, the Visa cards which still arrive 5 years after I closed the account, the time they could tell me what monthly repayments would be on a mortgage, but couldn’t tell me what the APR was despite a legal requirement to do so.

    Totally incompetent.

    HSBC never again, even for 1 avios per £ on a Mastercard.

  17. Raffles….You need a VPN and the site will then think you ar in the UK and allow all access. The same thing happens with BBC I player and the national lottery both of which can be got around with VPN………I would add that for the lottery use it only to check numbers and never ever buy a ticket whilst not physically in the UK – they always check if you win big and will withhold prizes…..

    • I’ve used EarthVPN for that before – also handy for accessing US streaming services like Hulu 😉

  18. Does First Direct count as HSBC product? :)

  19. If anyone wants a referral let me know

    I’m with HSBC premier and will now be applying for this card. Thanks Raffles