Maximise your Avios, air miles and hotel points

HSBC Premier offering you £200 to switch – and get the best Avios non-Amex credit card

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I have covered the new HSBC Premier World Elite Mastercard in some detail recently.  It is a VERY attractive MasterCard product if you want to earn Avios.

There is a £195 annual fee but you will receive 40,000 Avios points for spending £12,000 in the first year.  You also earn an unbeatable 1 Avios per £1 on your Mastercard AND get access to 500 airport lounges worldwide via LoungeKey.  Full details can be found here.

The standard HSBC Premier Mastercard is also attractive.  As you can see here, the card is free – albeit there is no sign up bonus – and you earn 0.5 Avios for every £1 you spend.

Join HSBC Premier

The only snag with these cards is that you must have a HSBC Premier current account.

HSBC Premier has tough eligibility criteria.  See here and click on the Eligibility button to see the details.

As well as opening a HSBC Premier current account, you must ALSO have £50,000 invested with HSBC, either in a savings account or via an investment product.

Alternatively, if you earn over £100,000, you qualify if you just have a HSBC mortgage or any investment or insurance product.

If you earn six figures and are attracted by the HSBC Premier credit card package, there is a new bribe available to persuade you to switch.

HSBC will pay you £200 if you open a Premier current account before 10th July and switch at least 2 standing orders or direct debits across to it.  £150 is paid within 30 days and the final £50 after 12 months.

Once your Premier bank account is open, you will be able to apply for either the HSBC Premier or HSBC Premier World Elite credit cards and start earning Avios, or other airline miles, at the generous HSBC rates.

Want to earn more points from credit cards? – August 2021 update

If you are looking to apply for a new credit or charge card, here are our August 2021 recommendations based on the current sign-up bonus

You can see our full directory of all UK cards which earn airline or hotel points here. Here are the other top current deals:

British Airways American Express card

British Airways American Express

5,000 Avios for signing up, no annual fee and a companion voucher for spending £20,000 Read our full review

BA Premium Plus American Express card BAPP

British Airways American Express Premium Plus

25,000 Avios and the UK’s most valuable credit card perk – the 2-4-1 companion voucher Read our full review

Nectar American Express

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & two airport lounge passes Read our full review

American Express Platinum card Amex

The Platinum Card from American Express

30,000 points and an unbeatable set of travel benefits – for a fee Read our full review

Virgin Rewards Plus credit card

Virgin Atlantic Reward+ Mastercard

15,000 points bonus and the most generous non-Amex for day to day spending Read our full review

Earning miles and points from small business cards

If you are a sole trader or run a small company, you may also want to check out these offers.

American Express Business Gold

20,000 points sign-up bonus and free for a year Read our full review

Amex Platinum Business American Express

American Express Business Platinum

40,000 points sign-up bonus and a long list of travel benefits Read our full review

British Airways Accelerating Business American Express card

British Airways Accelerating Business American Express

Earn both Avios and BA On Business points with your business spending Read our full review

Capital On Tap Business Rewards Visa

The most generous Avios Visa or Mastercard for a limited company Read our full review

For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending:

Barclaycard Select Cashback Credit Card

1% cashback and no annual fee Read our full review

Comments (56)

  • scott says:

    Hi just a quick question in regards to the savings requirements does it have to be a certain product or any savings account ?and could i in theory transfer the money required for eligibility then once i have the card take it back out ?

    • sd83 says:

      I’ve got mine in an instant access prem flex saver and premium ISA which actually offers a decent competitive rate. Once your are eligible you can apply. If no longer eligible they can revoke premier status and downgrade you but it’s to their discretion.

      • Polly says:

        SD83 Did you get the world elite one or the premier one? What is the monthly fee?

        • sd83 says:

          Hi Polly, sorry for late reply. I got the premier one. No fee for card or premier current account

    • Zander says:

      It isn’t really that simple, it’s not like Club Lloyds or HSBC Advance where you can put a certain amount in and then take it out and you’ve got the account plus offers, they require you to keep it with them or you’ll be downgraded but they sometimes give you leeway of up to 6 months to return to normal from my partner’s past experience before they bump you down.

    • Steve Owen says:

      It can be any product, also bare in mind that an HSBC account in a foreign country also counts for premier status in the UK. So basically you could have less than 50 grand and still qualify for the elite world premiere card, just worth a mention.

  • Hunter says:

    Slightly OT – I had a letter from Amex yesterday to inform me that the fee on my BAPP will increase to £195 on the anniversary. I had hoped it would stay the same for existing holders, and just affect new applicants.

    • pauldb says:

      Do you still have the companion card that got you the discounted rate. It’s strange because my letter yesterday says I’ll continue to pay only £30 as long as I have my companion card (a platinum credit card).

      • Simmo says:

        I don’t have a companion card.

        My letter said £195 from the anniversary date also. (and my brothers letter said the same).

        Interestingly, I have never hear of the amex dining program? that apparently comes with the BAPP?
        20% of Bill, Free bottle of Wine etc??? – Is that new?

  • Rakesh says:

    Quick thought

    Would it be possible to use curve card (debit card) to pay off your BAPP card balance every month online and charge this to a HSBC premier world elite card, which you then have a DD set up to clear the balance ?

    • Neil says:

      Good question. I’ve never paid off one CC with another but in this case would be good if possible.

    • pauldb says:

      Curve isn’t a debit card, it’s a credit card. There’s a chance it may sometimes go through as a debit card, in error, but I would very much doubt Amex will make that mistake (i.e. it would be rejected when would put in the payment details … no harm in trying, it won’t play out as you being charged extra by Curve/Amex/HSBC).

    • Mr Dee says:

      Zero chance, with Supercard it might be possible but with a charge for a UK transaction depends on the new card that is given out.

      Last day to get your Curve refund today!

  • Neil says:

    When I nipped into a branch a few weeks ago, the suggestion was the current account had to be a full switch which I’d not want but am sure that something could be arranged ref DDs or SOs provided I didn’t have to have my salary paid into new account etc. etc.

    • Liz says:

      That was my question – could you just set up an account without switching your main account but it looks like they want you to use the switching service.

  • Polly says:

    Plus another 40K after a 2k spend in the first 3 months! So it could be a total of 80k avios after the year. And another 24k avios for your 12k spend! So with the extra £50 for the second card holder to gain airport access, less your refund if you switched a couple of dds, not a bad return for a MasterCard. In fact, brilliant. So, 195+50-200 = £45. So that makes 82k avios for £45, if you can meet the criteria. Are my maths correct here? Can’t find the monthly fee anywhere though, seems well hidden….need to offset that sum too.
    But does anyone use Loungekey? Are they as good as priority? This could get a lot of jumpers away from Amex, if they are not careful. But the criteria is tough.

    Our BAPP went up to £195 on renewal too. Cheeky. Dropping down to my free card this week, and it stays in the drawer. But still using our plat ATM.

    • Andi says:

      if you drop to the free BAPP, do you keep your Companion Voucher gained?

      i had those same letters…. 🙁

      and this card looks great… but my savings are in Nationwide

    • Mycity says:

      Have I missed something, is not 40k points worth 20k Avios? If so you need to half your figures Polly

      • Bob says:

        Mycity is right Polly, you’re mixing up avios and hsbc points 🙂

        • Polly says:

          Thanks chaps, didn’t realise their points dont equate to avios.. Sorry.. That’s why I wanted my math corrected. Knew somebody out there was in the know. That second bonus tho, it doesn’t specify it’s granted at the end of the 12 mths.. Have an appt tomorrow so will report back. Now that the now are halved,might not change from Plat to this… Was thinking of how useful it would be to be able to use mc everywhere without always asking, do you take Amex!!! Any sign of a pro rata refund if you drift into the second year, I wonder?

          And Andi, you keep the companion voucher as it sits in your baec ac, and you can use any Amex to pay the fees and taxes, when you book.

  • Seb says:

    Do you need to pay 2 annual fees to get the 20,000 avios after spending £12,000 in year 1? Or if you spend that quickly do you get it before paying the second annual fee?

    • Polly says:

      Seb, I would imagine it would kick in after you have spent the 12k, a good question tho. Def states “when you spend 12k within the first 12 months” No indication that you would need to wait until after 12 months for those 40k avios to be awarded. Still can’t find monthly fees chart tho.
      Does anyone actually have this card that could give us the heads up?

      • Bob says:

        I was suspicious that you have to spend the second fee because the second set of points is described as ‘first anniversary bonus’ on the paperwork… Why call it that unless you have to wait until the anniversary?

    • Tom C says:

      I received my card about a week ago and I’ve put through ~£30k on it in that time. Unlike AMEX, you cannot see your points until the next statement, so I cannot tell you for another few weeks whether I immediately get the bonus.

  • David Campbell says:

    So, just to be super clear, earning 100k is not enough – you need an investment product with HSBC.

    Which might be okay for some people but for me it made me stop and reflect.

    • John says:

      No, you just need to have 50k earning very little interest in a savings account. Or after today’s vote and sterling rises, convert some money into a currency that you often use which earns more interest and put it in an HSBC premier account there.

    • Genghis says:

      My reading of it is that you either have £50k sitting in an investment account with HSBC or if you earn over £100k and have an investment product (simply an ISA will qualify), mortgage or life insurance product.

      • Scottnothing says:

        ^ this was correct when I opened by Premier account in late 2014. I used payslips to prove my salary was over £100,000 and then opened a stocks and shares ISA with an initial investment of £500 and £100 monthly direct debit. Took a bit of haggling but got there in the end. I found it easier to move to Premier over the phone rather than in branch.

  • Doug says:

    Those switching events makes the current customer angry. No benefits for them
    I’m with Premier, but having the savings there is not so useful, it would be much better to leave them at Santander 123.
    Their new CC is nice, but it is hard to see a big value (other the churning possibility) from the free one.

    • Frenske says:

      The interest on Santander 123 current account is probably higher than easy-accessible savings you can find with HSBC.

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