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. Travel insurance is also included as part of the HSBC Premier current account benefits. Other credit card benefits include a £20 Uber credit each time you spend £500+ on an airline ticket. Full details can be found here.
The standard HSBC Premier MasterCard is also attractive. As you can see in my review here, the card is free – albeit there is no sign up bonus – and you earn 0.5 Avios for every £1 you spend.
HSBC points can also be transferred to Etihad, Singapore Airlines or Cathay Pacific at the same attractive rates.
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.
Join now and HSBC will give you a free night in one of 50 ‘premium’ hotels across the UK.
Details of the deal can be found here. I am generally suspicious about deals like this, because you never know how much flexibility you will be given on dates. That said, as HSBC Premier is behind it I would hope that you will not have serious difficulties.
Here is the small print:
HSBC Premier Customers can stay in one of 50 premium hotels from around the UK when they switch to HSBC Premier using the Current Account Switch Service. You can choose venues based on your preference of the type of experience you want to enjoy.
For each venue, you will have a specially created HSBC package which enables you to experience something unique or you can simply go to the venue and indulge in a night away.
You will receive a Premier booklet containing information about the specially selected venues and experiences, along with terms and conditions and details of the booking phone number.
Hotel booking subject to availability. Offer available from 29 December 2017. Package includes cost of one night in selected hotels for two people. Other charges may apply for additional services. We reserve the right to withdraw this offer at any time. Vouchers to be used by 19 March 2019.
The offer is available to new customers only* who are UK resident, and it is subject to availability. The offer is limited to one per customer or joint relationship on eligible HSBC Premier Bank Accounts. Our partner, MLP will be booking and providing this offer on behalf of HSBC Premier. Terms and conditions apply.
* ‘New customers’ means customers who have not held an HSBC current account since 1 January 2015.
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 Etihad, Singapore Airlines or Cathay Pacific airline miles, at the generous HSBC rates.
(* The sign-up bonus is a little messy. You receive 40,000 HSBC Premier points, worth 20,000 Avios, for taking out the card. You receive a further 40,000 points after spending £12,000 in a year. However, you will not receive these points until after you have renewed the card for a second year, paying a 2nd £195 fee.)
Want to earn more points from credit cards? – September 2021 update
If you are looking to apply for a new credit or charge card, here are our September 2021 recommendations based on the current sign-up bonus.
The following offers will end soon:
- 2,000 Virgin Points on Virgin Atlantic Reward Mastercard (ends 15th October)
- 30,000 Virgin Points on Virgin Atlantic Reward+ Mastercard (ends 15th October)
- 10,000 Avios on British Airways American Express (ends 2nd November)
- 40,000 Avios on British Airways American Express Premium Plus (ends 2nd November)
- 60,000 points on The Platinum Card from American Express (ends 2nd November)
- 30,000 points on American Express Preferred Rewards Gold (ends 9th November)
Here are the top current deals:
British Airways American Express
10,000 Avios for signing up, no annual fee and an Economy 241 voucher for spending ….. Read our full review
British Airways American Express Premium Plus
40,000 Avios and the UK’s most valuable credit card perk – the 2-4-1 companion voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 30,000 points, FREE for a year & two airport lounge passes Read our full review
The Platinum Card from American Express
60,000 points and an unbeatable set of travel benefits – for a fee Read our full review
Virgin Atlantic Reward Mastercard
The UK’s most generous free Visa or Mastercard at 0.75 points / £1 Read our full review
Virgin Atlantic Reward+ Mastercard
30,000 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
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
60,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios 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: