Credit & Charge Card Reviews (9): HSBC Premier World Elite Mastercard

This is my review of the HSBC Premier World Elite Mastercard credit card.

It is part of my series of articles looking at the major UK loyalty credit cards and discussing whether or not they are worth applying for. These articles will be linked to the relevant sections of the ‘Credit Cards Update‘ page. My other UK airline and hotel credit card reviews can be found here.

If you want to check your credit record before applying for a new card, click here to get your free Equifax credit report and score. Your first 30 days are free then it’s £14.95 per month. You can cancel at anytime.

Please note that this card is not suitable for you if you do not pay off your balance every month, due to the high interest rate.  You are better off with a low interest rate card such as – click for details – the AA Low Rate Credit Card which has an APR of 6.5%.

(EDIT:  This article was updated on 27th December 2017 and is correct as of that date.)

Key link: HSBC Premier World Elite Mastercard application form

Key facts: £195 annual fee, card only available to HSBC Premier current account holders

The representative APR is 59.3% variable, including the annual fee, based on a notional credit limit of £1,200.

About the card

The HSBC Premier World Elite Mastercard is issued by HSBC.

There are two versions of the card.  This review covers the more generous, premium version.  There is also a free version called the HSBC Premier Mastercard which I review here.

It is a bit of an oddity amongst all of the other credit cards covered in this series for two reasons. The first is that the airline rewards programme – whilst VERY generous – is a sideshow to the rest of the card. The second is that the card can only be obtained if you have a HSBC Premier bank 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. HSBC has been known to waive the income criteria if you are on a career path which should see you earning this sort of money within a few years.

I’m not sure what the minimum investment is in an ‘investment product’ but I’m sure you could find something which would accept £1,000 or so.   The definition of this is not clear – a cash ISA does not seem to count but an equity ISA – where you can invest as little as £50 per month – seems to be OK given reader feedback.

HSBC Premier World Elite Mastercard credit card review

What is the sign-up bonus?

The sign-up bonus is VERY impressive.

You can earn up to 40,000 Avios or other airline miles in your first year.

You will receive 40,000 HSBC points, which convert into 20,000 Avios or other airline miles (Asia Miles, Etihad Guest, Singapore Krisflyer) if you spend £2,000 within your first three months.

You will receive an additional 40,000 points, worth an extra 20,000 Avios, if you spend a total of £12,000 in your first year. These will not arrive in your account until after your 12 months of membership irrespective of how quickly you hit the spending target.

Any other benefits?

Yes. You will receive access via the LoungeKey scheme to a large number of airport lounges.  I discussed the UK lounges which accept LoungeKey in this article – it is a decent list.

No free guests are allowed into the lounges. However, you can get a supplementary card for your HSBC Premier World Elite MasterCard for a £60 annual fee and that person can then access lounges with that.

The HSBC Premier World Elite Mastercard is not clearly better than American Express Platinum if you want a card with airport lounge access. It is cheaper (£255 for the HSBC card with one supplementary card vs £450 for Amex Platinum) but the Amex Platinum package has far more benefits – Hilton Gold, Melia Gold, Club Carlson Gold, Starwood Gold, Marriott Gold, Eurostar lounge access etc etc (see my American Express Platinum review for details).  For some people, however, HSBC Premier World Elite will be the right choice if you want airport lounge access.

If you have children, note that there is no way of getting a child into an airport lounge for free with LoungeKey. You are forced to pay the £15 guest charge, because obviously a child cannot be made a supplementary cardholder on your credit card account. With the Priority Pass issued by American Express Platinum, children can get into lounges for free – you get two cards and each is allowed one free guest.

The HSBC Premier bank account and credit card, between them, offer a range of financial and insurance benefits – see the website for details. A recent addition is a £20 Uber credit every time you spend £500 with an airline using the card.

There is also a range of benefits available to you as part of Mastercard’s general UK World Elite package. These include (but are subject to change):

  • Abercrombie & Kent VIP Travel
  • Corinthia Hotels special benefits
  • Fairmont Hotels and Resorts special benefits
  • Green Pearls special benefits
  • Mandarin Oriental special benefits
  • Raffles Hotels and Resorts special benefits
  • Small Luxury Hotels of the World 3-4-2 deal
  • Swissotel Hotels and Resorts special benefits
  • Leading Hotels of the World free Leaders Club membership
  • Hertz #1 Club Gold
  • Sixt – ‘exclusive benefits’
  • Shopping deals at Belstaff, Gieves & Hawkes, Turner & Asser, Hackett and others

I discussed the Mastercard UK World Elite benefits in this article.

What is the annual fee?


There is no fee for the HSBC Premier bank account which you also need to hold, as long as you meet the eligibility criteria above. If you currently pay for a ‘packaged’ current account with another bank you may save money by moving across.

What do I earn per £1 spent on the card?

HSBC Premier World Elite rewards scheme gives 2 points for every £1 spent in the UK and 4 points for every £1 spent abroad. Each point is worth 0.5 airline miles. This means that you earn 1 mile per £1 for UK spend and 2 miles per £1 for foreign spend.

You can transfer your HSBC Premier points into the following airline schemes:

0.5 Avios per point

0.5 Asia Mile (the Cathay Pacific scheme) per point

0.5 Singapore Airlines KrisFlyer miles per point

0.5 Etihad Guest miles per point

The geographic base of these airlines is, perhaps not surprisingly, a good fit with HSBC’s main business focus these days. Note the lack of any US airline partners.

Full details of the airline transfer scheme can be found here.

At 1 Avios point per £1 spent, and 2 Avios per £1 for foreign spending, this is the most generous way to earn Avios via a Visa or Mastercard.

The free HSBC Premier card only offers 0.5 Avios per £1. The Tesco Clubcard Mastercard only offers 0.312 miles per £1. You actually receive less because of the way it rounds down transactions to the nearest £8 – purchases under £8 earn nothing! The Lloyds Avios Rewards card earns 0.25 Avios points per £1 spent on the Mastercard.

What is an Avios point worth?

This post outlines my view of what an Avios point is worth, based on your typical redemption patterns.

That said, I typically work off a conservative 0.75p per point – this ensure that I never make a bad decision when deciding whether to take part in a promotion or not.

How does this compare to a cashback credit card?

My default comparison card is ASDA Cashback Credit Card which is free for life and offers 0.5% cashback. The representative APR is 19.9% variable.

For an average spender, the HSBC Premier World Elite Mastercard offers value as long as you believe that you can justify the £195 annual fee. This means that you need to place a lot of value on the LoungeKey airline lounge membership. Unless you are spending a six figure sum on your credit cards annually, paying £195 purely to receive 1 Avios point per £1 does not make sense.

For the first year, however, it is a different story. Earning 40,000 Avios or other miles as a sign-up bonus – as long as you can hit the £12,000 spending target – makes the £195 fee good value.

IMPORTANT – if you are just considering getting the card for one year, remember that you don’t receive the 2nd part of the bonus until your first 12 months is over. You may have to struggle with HSBC to ensure that you still receive the remainder of your bonus if you do not intend to pay another £195 fee.

How else can you earn KrisFlyer, Asia Miles or Etihad miles from a UK credit or charge card?

Here are three good alternatives to the HSBC Premier card for these three airlines:

The American Express Preferred Rewards Gold charge card offers 20,000 Membership Rewards points for signing up and is free for the first year. These convert to 20,000 KrisFlyer, Asia Miles or Etihad Guest miles, amongst other airlines.

The American Express Platinum charge card offers 30,000 Membership Rewards points for signing up. These convert to 30,000 miles. It has a £450 fee, refunded pro-rata if you cancel.

The Starwood Preferred Guest American Express credit card offers 10,000 Starwood Preferred Guest points for signing up. These convert to 10,000 miles in 29 different airlines, including KrisFlyer, Asia Miles and Etihad Guest. It has a £75 fee, refunded pro-rata if you cancel.


A sign-up bonus of 40,000 airline miles – even with a £195 annual fee and £12,000 spend target – deserves to be looked at closely. Unless you are already a HSBC Premier customer, however, you need to weigh up whether you really want to move your banking over to HSBC for a benefit lasting only one year. I think most people would struggle to justify the £195 fee for the second and subsequent years.

The application for the the HSBC Premier World Elite Mastercard can be found here.

(Want to earn more miles and points from credit cards?  Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Cards Update’ link in the menu bar at the top of the page.)

Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history. By recommending credit cards on this site, I am – technically – acting as a credit broker. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as a credit broker.

Bits: Loyalty Fraud Prevention conference, fixed Hilton / Iberia link, pretend to fly on a private jet
Credit & Charge Card Reviews (8): HSBC Premier Mastercard
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  1. 1 of the HSBC card benefits is listed as Hertz #1 Club Gold. But on the Hertz website home page it says sign up now for free; is this something different or the same thing ; ?

    Hertz Gold Plus Rewards

    Everyone loves getting something for nothing. That’s why we’ve made our award-winning Gold Plus Rewards programme free for you to join. Become a member today and you’ll also be free to bypass the pick-up and drop off queues at key Hertz service counter locations.

    • Follow the link to the MasterCard World Elite benefits article – there is a PDF link in that article which has the official wording.

  2. I’ve had this card for 10 months, I would have kept it indefinitely, however the main reason I took it out was for paying HMRC. Once that is no longer possible the card is pretty pointless for me.

    I hope to be able to receive the 12 months bonus and cancel the card without paying the new annual fee.

    • You can pay using the HSBC card by swapping the full card number after you have input a 0.38% Mastercard initially…and still get charged the lower figure…

      • Genghis says:
        • No, what SB says does work but whether you want to rip-off HMRC is a different question ….

        • Genghis says:

          And after 13 Jan would this work?
          If HMRC are not accepting personal credit cards after 13 Jan, the only option would therefore be to initially input a higher business / corporate card, the cheapest being a MasterCard Business Credit Card at 1.973% and then enter the HSBC card number?
          Or have I misunderstood?

        • That would work I guess and I doubt HMRC would complain, but even with the tax shield this seems a bad deal.

      • Yes Genghis was right, I was referring to the fact HMRC will no longer accept personal credit cards from January 13th. The only reason I took out the card was to pay HMRC with it.

      • the_real_a says:

        It never ceases to amaze me that people think a public forum is a safe place to discuss these things – data that is indexed and searchable by google. “Shuffling” an offer on AMEX is one thing, ripping off (we could use another word to describe this) the revenue is in a totally different ball park.

  3. Two issues though.

    Firstly, it is hopeless to try and track accrual and redemptions when compared to Amex Mem Points or Avios. Tracking the points at the end of a HSBC World Elite statement with no online visibility (save for redemption requests) is hopeless.

    Second, a nightmare to try and convert into Etihad Guest (have not tried the other partners). Manual, spreadsheets (as told by Premier support staff) and human intervention required = high probability of error. Have redeemed 300,000 points only to be told I had actually transferred over 30,000. Also, takes up to 14 days; not good when waiting to pounce on a pair of seats to Abu Dhabi.

  4. I’ve had some fairly appalling experiences with HSBC, simply trying to open a Premier account at their Canary Wharf (flagship?) branch.

    Wait times of literally hours, and being told appointments need to be made which take up to a month. If it’s this hard to sign up for an account, I fear their customer experience may be even worse if I did need any help as a customer.

    Whilst the Premier account looks nice, I’ll be sticking with Lloyds’ Club offering.

    • I tried 4 times to call and get this card with no success. The Premier team connect you to a non-Premier call centre who are useless.

      They don’t seem to understand that someone with a basic salary of less than £100k can earn more than £100k with bonuses and allowances. Apparently I don’t qualify for the card as my basic salary is less than £100k, even though I qualify for the Premier account and had to show a branch evidence of earnings.

      • the_real_a says:

        What you were told is not true. I do not make the salary criteria but qualify for the premier account through the investment route. I was pre-approved for the credit card at the point of account opening.

    • Prins Polo says:

      Same here, they had no availability for an appointment within two weeks, and generally their attitude (as other comments here show) is that they don’t really care.

      So typical – there is one team that is in charge of all those great adds that you see at the airports and think HSBC is a notch above the others, but when you want to bring your business, it’s “I don’t care attitude”, old infrastructure, poorly designed website and app, asking the same questions in questionnaires 5 times, sending cards with wrong names, etc.

    • New Card says:

      I encountered exactly the same issue, at the same branch. I had more luck opening a normal non-Premier account, and then upgrading the account with the Premier telephone team. Still not an easy process, and lots of back and forth, but more engagement at their end.

      Completely agree that their infrastructure/website/app is antiquated.

    • I switched to an Advance account a few months back. Was quite painless, went into the Queen Victoria St (City of London) branch at lunchtime, got to go through the account opening procedure quickly for address and ID verification – from setting foot in the branch to walking out took about 30 mins, no appointment made.

      Once my account had been opened, went back to the same branch to set up online and mobile banking. Again, no appointment, waltzed on up and got seen within 15 mins.

      Switch went through smoothly and got my £150 for it.

  5. FlightDoctor says:

    Slight OT. Have had AMEX Platinum for many years. Never had to claim on the travel insurance but I value the protection it provides, especially for winter sports and car hire top up. Just challenging the £450 fee this year and keen to benchmark the insurance policy against stand alone policies. Has anyone done the maths? We are a family of 5 and probably travel overseas 2-4 times a year.

    • Moneysavingexpert top pick is Liverpool Victoria at £200. Car hire cover would be £50 I reckon via insurance4carhire.

      • Its actually £40 per person if renting independently of each other too. Plus you need to make sure it now covets loss of use for thr hire co too…new way of making up income. Recently highlighted in the press. So basically you are up to £300 plus all lounge use 8 per trip at 25 pp incl kids…

  6. I wanted to get this card, so made an appointment to open a Premier account. I was told that I would need to have approx £20K to invest to qualify, as they would be charging hundreds of pounds of fees/commission, which even they couldn’t justify on less than that. They weren’t interested in me opening anything with £1K as you suggest.

    • New Card says:

      I found that when I applied and tried to set up an Investment Product at the same time, all sorts of BS criteria were made up by staff along the way.
      Setting up the Investment Product (not even £1k) first, then applying, worked much more smoothly.

  7. My local branch insisted on an appointment about 2 weeks in advance. Had to transfer over funds within 3 months of opening the account and being granted the elite. Made out they were doing me a huge favour. Way too much trouble to add my OH to the account, as he also had to submit to this interrogation. Just got him an extra card.
    Be very careful at the end of the year. You ABSOLUTELY must hold the account for a FULL year before points are preserved. This meant a big battle with a 12 year old in customer service, same people as Qatar hire l guess! So if you are keeping the points, and moving to the free card, you must have your drop down date to coincide with the 1st day of your 2nd year, and they MUST agree to refund you the fee, as it will be charged on that day. It is almost impossible to get sense out of cs, but l happened on one with actual common sense who put a note on the account for the fee to be refunded. Earning rate great, but am Golding out for another BA transfer bonus like last year.

    • Late Arrival says:

      “…who put a note on the account for the fee to be refunded.”

      Polly, have you actually reached the point of cancelling the card and succesfully done avoiding the 2nd year charge? In other words have HSBC honoured the notes placed in your account?

      • Yes they did…and others reported back here positively too. It took many phone calls tho. Just keep saying how much worse than amex they loyalty bonus or referral etc…shame l had to drop down to free card etc etc.
        They then actually admitted they had loads of calls on this issue so l advised them to look closer at their product. Their cs is really very bad tho l have to say. Also insist on a manager.
        They charge the fee but then refunded it. But it was not easy.

        • Late Arrival says:

          Thank you. I ‘ve been a premier customer for 3-ish year (via mortgage). So far their cs has been reasonably OK but I have noticed things getting worse with most calls now routing offshore and long waits for clarification on T&Cs as reported elsewhere. I was struggling to get a straight answer if upgrading from the free MC to the elite would ensure the bonus is still awarded (you never know and its £195 not refundable pro-rata). After multiple calls I got to a more senior adviser and confirmed that it is awarded. I think they recently restructured and cutting costs is beggining to affect customer service.

          I made a copy of your comments and will press on with the card for this year’s tax bill. Many Thanks.

        • Late Arrival, let’s hope you got that in writing. I have a feeling if you have already held a HSBC MC within the last 6months you don’t get the bonus. Hate to dampen your spirits after getting reassurance from somebody in HSBC. I think they tell people what they want to hear just to get them off the phone. Have a look at the main HSBC card page and you will see what l mean. The small print. I would be amazed if you got the bonus. Keep us updated with your progress.

  8. Prins Polo says:

    For a typical HFP reader (i.e. Amex is the primary card 😉 ), the free version makes more sense.

    GBP 195 fee means that you’re effectively buying the sign-up bonus at 1p per mile. The extra 20,000 Avios bonus which you only receive in the second year means that you’re effectively doing the same thing in the second year (i.e. buying Avios at 1p, at my valuation of 1p per Avios).

    Otherwise, with the high fee, you need to spend in excess of GBP 40,000 per year to break even and then benefit from the higher earning ratio (40k spend gives you 20k Avios on the free version and 40k Avios on the GBP 195 per version – only at that point the fee is offset, or in other words, you stop buying Avios at 1p using your fee).

    Some of the benefits could be useful if you treat the card as your primary card, however the Amex Plat benefits are far superior (as Raffles mentioned above) and that’s my primary card.

    • New Card says:

      The T&Cs state that the additional 20,000 miles (40k HSBC points) are to be posted 90 days after meeting the £12,000 spend threshold.

      The article may be right in so far as the bank may not properly apply its terms. But the terms say what they say… if you’ve met the threshold well in advance of the anniversary date I wouldn’t wait before claiming them, and raising a complaint if necessary.

      Not disagreeing with the overall thrust of your comment though – the benefits should be better at this price point.

      • I hit the £12,000 a long time ago, I called to ask where my points were after 100 days, they refused to accept that their terms & conditions were wrong and said they would post within 90 days of the 12 month anniversary. Not ideal considering I don’t want to pay the annual fee again. Has anyone been able to get the 2nd bonus and cancel the card without paying the annual fee for the 2nd year? Like I said above, the card is pointless for me come January when HMRC won’t accept it.

        • New Card says:

          If I were you I’d call again to ask – if they refuse again, then ask to raise a formal complaint. Once you hear back from them on the complaint, ask them to issue a “deadlock” letter so you can escalate the issue to the Financial Ombudsman. I believe it costs the bank £500 if you do that whatever the merits of the complaint (and the process for doing so isn’t too painful), so they normally end up agreeing something suitable before it gets that far. If not, the FOS can take into account the inconvenience suffered by you in deciding for compensation to be provided.

          (I’d be inclined to roll your Uber issue into the same complaint).

        • Decided to give it another try like you suggested, I’ve been on the phone with them for over 30min now. They refuse to agree they have not followed the terms & conditions. They also put me on hold for 10min while they ‘look up the terms & conditions’. Funny how it can take them so long to find their own T&Cs! They kept asking me where I found them!?

          Anyway they refuse to agree, I’ve said look I understand we don’t agree here but can you please log that I wish to make a formal complaint. Seems they just won’t let me do that! She’s put me back on hold now while she ‘looks into that’. Waiting over 10min again while she looks into how I can make a complaint. Seems they just want me to go away!

        • Another 10min have passed now while I’m on hold while she looks into how I can make a formal complaint. Really is a joke!

        • Waited just over half an hour while she looked into how she can raise a complaint. She finally came back to me to say that she had in fact found the Terms & Conditions and I’m wrong, the bonus is due within 60 days of the 12 month anniversary of opening the account. I told her I understand we clearly disagree on your T&Cs, but I wish to raise a formal complaint. She told me there was no point in doing this as it won’t change anything. I said “I still wish to raise a formal complaint!!” Now on hold again while she gets the details to be able to raise a complaint!!!! 🙁 🙁

        • New Card says:

          Where did you get to? Or are you still on the phone?!

          An alternative is that you can complain in writing:

          Given the hassle you are having (for which I feel partly responsible for having suggested another call!) – perhaps worth including an express demand for a written response from the bank…

        • Hey, well after well over an hour she finally agreed to allow me to raise it as a complaint. She said she had taken the details down but that it would take around 8 weeks for a response (which she noted would then take me up to my 12 month anniversary, so again suggested it was pointless to raise a complaint).

          I realised afterwards she didn’t give me any reference number and I haven’t received an email about it either, so I wouldn’t be surprised if no complaint was even raised!

          I’ll check out the online option. Thanks!

        • Ian and.other Ian..this was.typical of my caps.. lasted ages each one. I had to keep calling get a human who understood the problem. I got a great manager in the end. See above. Who did get it sorted. I think the God is siding with hsbc Actually as they will literally go round in circles to not give you the points. They insist you must hold them for a Whole year. It’s a nonsense. The timing of dropping to the free card is so tight you will be charged the 2nd yr fee. They are the worst..but Lloyds are almost as bad after 30 yrs with them!
          Keep on it.
          Yes threaten the will pay a £500 fine for not resolving the situation..and that’s before they even pay out to you. So they will work with you once you mention that.

  9. Point to note… When you transfer your bank account to you bribed with the £150 refund and a further £50 at the end of the year which effectively covers the £195 fee in the first year. So actually that first years 40k avios are free avios, now that l remember. They are still offering a bank transfer refund ATM too. But stiff criteria tho.
    Ongoing you would be earning 0.5 avios per £ which singled as every £ earns half avios as opposed to,our Tesco MC, this had loads of small spends without a single avios last year.

    • Prins Polo says:

      You only get the bonus if you transfer your existing account (as in – completely close it – HSBC will do it for you). As I have a number of direct debits, standing orders etc I decided to gradually shift rather than doing it all at once – esp since if often takes some time for old instructions to be discontinued and the new ones to take effect). Wasn’t worth the hassle in my case.

  10. Purchased an airline ticket (£500+) using the card about a month ago and not received the £20 Uber credit. Contacted HSBC and only being informed that purchase must be made on an airline website to be eligible (I bought my ticket through an online travel agent, Tripsta). HSBC website state “Receive a £20 Uber promo code to your registered email address every time you purchase airline ticket(s) “…

    • Another Ian here! Well HSBC don’t seem to take much interest in abiding by their terms & conditions!

    • To be fair I have no idea how HSBC is meant to know what you bought from Tripsta!

    • the_real_a says:

      As always.. raise an official complaint, this gets it out of Bangalore and into the hands of someone with common sense. Albeit that’s difficult to find in HSBC. Ombudsman will always find in your favour if the bank breaches T&C`s.

  11. I have to say, having had an HSBC bank account for several years, and now (begrudgingly) a cardholder for this, I have to say that HSBC is singlehandedly the worst bank I’ve ever had the misfortune of dealing. Aside from an app that can’t even transfer money to a new contact unless they’re set up via a computer using online banking and awful customer service, there is absolutely no way to see whether the money you’ve spent is generating the points it’s supposed to. Unlike with Amex where you can see a summary of all your transactions along with the points they’ve generated, HSBC opt for just an overall number of points earned for the month with absolutely no guarantee that’s what you’ve actually earned. Terrible bank, terrible service.

    • To be fair, I think only Amex does this. Back in the Barclays IHG days it was a big task to work if your IHG stays really had got double points (very few did without a claim).

  12. the_real_a says:

    So firstly you don’t need to go into a branch at all. This can all be done over the phone. Depending on the staff at branch you are likely to be fed outright falsehoods unless your area is one of high net worth. The premier banking team will call back within 48 hours to “interview” you for 40 minutes (all quite painless)

    The “investment” product also is not a requirement – you need £50k on deposit with HSBC which can be in currency/current accounts. Since Premier customers get access to preferential rates it would be madness to take an investment on standard customer rates. Once the premier account is open you can then move to the enhanced investment products.

    The other consideration is that all the investment products are 0.5% to 0.75% LESS than the market leaders. So you are in effect losing circa £300 a year (on a 50k investment) for the benefit of the credit card (plus the £195 fee). You will need to factor this in to your costings. £495 total fee requires a heck of a lot of spend to justify.

    Also on opening the premier account I was pre-approved for the credit card so be ready to accept this at the point of account opening otherwise you will get another credit score ding at a later date.

    • Not “all the investment products” are less competitive. If you just want to hold some of your shares through their service, the small account fee and transaction costs are in line with other share dealing platforms.

      • the_real_a says:

        Good info if that worked for you, although i was told that kind of thing was non qualifying as it was not invested into a “product” unless it was in one of their managed funds. That’s HSBC for you…

  13. Has anyone gotten this “uber credit” from the card? I certainly have not and was wondering if anyone else are struggling with a similar issue?

    Also getting no where with the terms and conditions of the ‘anniversary points’ despite some others receiving theirs before the year ending. Contacted the FOS and they haven’t concluded matters but they have indicated that they are likely siding with HSBC?!

    Thinking of pursuing small claims court now…

    • New Card says:

      Any suggestion why the FOS are likely siding with HSBC?

      Page 21 of the Terms seems clear to me: “If you meet the requirements for this offer as described above, we will award 40,000 Premier Reward Points to your HSBC Premier World Elite MasterCard Credit Card within 60 days from point of qualification”

      • the_real_a says:

        The terms are very clear, still on the website and HSBC have broken them.

        The problem for FOS is to determine your “loss”. If they cannot do this, and you haven’t provided justification then you will likely only get a customer service “inconvenience” award. The question more is what you set them as your expected outcome on the FOS complaint form. Also have you uploaded them a notated copy of the T&C`s via the secure email platform with the breach marked?

      • Point 1c could be argued as saying ‘qualification’ is doing the required £spend over the required timeframe. So you do not qualify until the required timeframe (12 months) has elapsed. They then have 60 days to give the points.

      • They haven’t said but I did get this in the mail:

        “As an impartial organisation, I have to weigh up the evidence provided by yourself and HSBC before coming to a view on the matter. As such, whilst I understand you have provided me with the information you feel is enough to consider your complaint, I must look at information from the business as well, to ensure I give a fair appraisal of the facts. To manage your expectations, it is possible I may not find in your favour. At this stage, it is too early for me to give you an indication of how I think your complaint will go, but I just wanted to make you aware of this.”

        Will give you guys all an update to see where I got to on this. @the_real_a: i told them I wish to get my latter 40,000 points credited to my account. I did upload them a copy of the T&Cs as well so it’s very clear cut.

        @tangey clearly it isn’t because everyone was awarded the initial 40,000 points 30 days after you qualified for the £2,000 spend. If you hit it Day 1, they would pay it 30 days after, which was the case for me. That same wording is used in the second batch of points and shortly after hitting that, they are refusing to do so which goes against what they said to me.

        I went in branch to specifically ask if I hit £12k spend day 1, would i get all the points before the next year anniversary. The advisor read it as so, so did the branch manager, and we even made a call to the MasterCard call centre to clarify which I was told the same. 3 months later they changed their tune. I felt it was almost a bait and switch and have told the FCA as such.

        Will keep everyone up to date as to where I got to on this.

        • the_real_a says:

          FYI – that’s just the standard response. The handler has not even considered the merits of your complaint yet. I would be interested in the outcome, as I have had has complaints upheld (and not) recently.

  14. A bit late adding here, but Barclays offer a blue rewards account, costs £3 per month, if you have 2 direct debits with them they credit you £7 per month and if you have a mortgage with them they credit an additional £5 per month. I understand you don’t have to have Premier banking to qualify for this it is available to every Barclays Bank customer. I know this isn’t airmiles based but to receive potentially £12 every months for £3 isn’t a bad shout. Good banking App too with Premier.

  15. Know this is (literally!) very late in the day but I had the same issue with not receiving the second tranche of points within the 60 days. Went round the houses with the messaging and also on the phone but kept reiterating the (very clear) clause in the Ts&Cs and eventually received a call from sb saying I was correct. I had to prompt to be offered compensation and push for it to be cash rather than points. Received £50 in the end but leaves a sour taste in the mouth and will be canceling upon the anniversary.

    • I think HSBC just cannot cope with the card knowledge we smart people in HFP know and use in our everyday lives! The woman was incredulous when l was able to quote verbatim their own t and c as she had to keep referring to a manager for guidance. All of the conversations re this issue followed that pattern btw. I also write contemporaneous notes on every conversation. Until the final chap who had common sense! When it was all finally sorted and l had my refund, plus my points preserved for the next bonus hopefully, the GM l finally spoke to definitely took on board that cs was greatly lacking when it came to high end card users (like us on HFP.) Think they figured they have screwed up badly with the elite launch, and are probably regretting the huge bonus offered.
      l just couldn’t believe the difference in tha Amex cs knowledge v the HSBC cs knowledge. Give Amex their due, they really know how to handle a complaint. It’s immediately solved with a few k MRs or whatever.

      • Polly – Ditto – They were adamant the T&C’s had changed (they hadn’t) and I ended up with a small good will gesture. I ended tripping into the next year to get the final year’s bonus but won’t be renewing it.

        Rob – You missed off the benefits of

        The free Global WI-FI access via iPass
        Expedia + Gold membership.

  16. I have this card since around 3 months. I have tried to use it twice to access lounge key lounges, 1st time at stansted I was refused access because lounge too busy. Yesterday at Heathrow T5 I was told I had to put my name on the list and wait outside approx.. 40 minutes which was not appealing.. Is this normal or I am just unlucky ? it makes me think that this major “benefit” is completely worthless. Any thoughts ?

    • It is normal at that Aspire lounge. Not normal elsewhere.

      However, the new Plaza Premium lounge opens in T5 in 2-3 weeks so the Aspire queue will go overnight.

    • Sadly it seems to be an increasing issue. Never used to have it in Edinburgh but now had it a couple of times, I suspect partly due to the upsell when booking parking – I suspect this gives them more revenue than PP do.

      Whilst speaking about lounges, don’t bother with the PP one in Venice. Only coffee or cold drink (ordered via the lounge host) and a single small biscuit with drink. That’s it!

  17. Does anyone know if HSBC runs promotions for increased transfer rate? I have have the card for over a year and have a significant amount of points. Shall I wait for a promotion or not?

    • For the last 3 Novembers they have done a bonus. Last year they said privately that it would not happen again. So far this November they have stuck to that.

  18. Nick Clowe says:

    I am thinking of churning my card given the lack of transfer bonus last year. Do you know if I would qualify for the introductory offers if I cancelled and applied again in 6 months? Thanks. Nick

  19. Nick Clowe says:

    Actually it does look like 6 months from their website Ts and Cs. Will let you know how it goes…….