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HSBC Premier World Elite bonus pay-out developments (positively)

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There has been an interesting development in the saga of the HSBC Premier World Elite credit card bonus (which I am legally obliged to tell you has a representative APR of 59.3% variable including the £195 fee based on a notional £1200 credit limit.)

When you take out the HSBC Premier World Elite card, you receive 40,000 HSBC points after spending £2,000 in three months and a further 40,000 HSBC points (worth 20,000 Avios) when you spend £12,000 in 12 months.

HSBC Premier World Elite

For many people, there is NO good reason to keep this card after the first year.  You need to pay a £195 fee but there is no spending bonus.  You will continue to keep the card benefits, such as free airport lounge access, but this may not justify £195.

However, HSBC had been forcing people to keep the card for a 2nd year in order to receive the 2nd part of the bonus, the extra 40,000 points for spending £12,000.

As I discussed in this article, it states that you receive the second batch of 40,000 points within 60 days of spending the £12,000:

3. 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

For months, HSBC has been claiming that this is an error and it was meant to say that you will receive the second batch of 40,000 points within 60 days of your card renewal date.  A lot of people DID receive the second batch of 40,000 points when they rang up HSBC and complained.  The bank then took a firm position that you are not getting the points until after the first year is up.

This week, however, two readers contacted me to say that they had hit the £12,000 target and received the 2nd batch of 40,000 points in advance of their renewal.

I know that some readers have complained to the regulator about HSBC’s behaviour – and lost.  However, based on a couple of cases this week HSBC may have decided to voluntarily follow its own published rules, which is very generous of them.

Want to earn more points from credit cards? – May 2023 update

If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.

In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.

You qualify for the bonus on these cards even if you have a British Airways American Express card:

SPECIAL OFFER: Until 30th May, the sign-up bonus on the Barclaycard Avios Plus Mastercard is doubled to a crazy 50,000 Avios! Apply here.

SPECIAL OFFER: Until 30th May, the sign-up bonus on the free Barclaycard Avios Mastercard is doubled to 10,000 Avios. Apply here.

Barclaycard Avios Plus card

Barclaycard Avios Plus Mastercard

CRAZY 50,000 Avios for signing up (to 30th May) and an upgrade voucher at £10,000 Read our full review

Barclaycard Avios card

Barclaycard Avios Mastercard

10,000 Avios for signing up (only to 30th May) and an upgrade voucher at £20,000 Read our full review

You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.

SPECIAL OFFER: Until 13th June, the sign-up bonus on The Platinum Card is doubled to 60,000 Membership Rewards points – and you get £200 to spend at Amex Travel too! Apply here.

SPECIAL OFFER: Until 13th June, the sign-up bonus on the Virgin Atlantic Reward+ card is doubled to 30,000 Virgin Points. Apply here.

British Airways American Express Premium Plus

25,000 Avios and the famous annual 2-4-1 voucher Read our full review

American Express Preferred Rewards Gold

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

The Platinum Card from American Express

60,000 points AND a £200 Amex Travel voucher until 13th June! Read our full review

Virgin Atlantic Reward+ Mastercard

30,000 points bonus (to 13th June) and 1.5 points for every £1 you spend 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 Platinum

40,000 points bonus and a £200 Amex Travel credit every year Read our full review

American Express Business Gold

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

British Airways Accelerating Business American Express

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

Capital On Tap Business Rewards Visa

Get a 10,000 points bonus plus an extra 500 points for our readers 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 (43)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • RichE says:

    Shame with HSBC – We just paid two lots of 2nd year fees last month 🙁

    • Polly says:

      The only positive side to it is you are earning ongoing avios with every £ spent instead of this nonsense Tesco MasterCard, which l found quite annoying, as lots of our small spends were around £6 or £7 which gave us nothing. We do have a lot of MasterCard spend which l just can’t use our Amex on. Much as l have tried. Even as far as asking our local garage to send us a PayPal invoice which we could then use our Amex on, but no joy.
      It’s also quite handy that the 2nd person fee is only £60 pa, which gives same benefits, albeit no lounge key guest.
      Just wish a transfer bonus was offered soon.

    • Andrew (@andrewseftel) says:

      If you haven’t already tried, this change in stance may lead to more success through their complaints process (although less likely if you’ve been continuing to use the card).

  • Stu R says:

    OT: what’s the deal with the ban on card fees? I know it came into effect yesterday and BA, EasyJet, Ryanair etc have all ceased their fees. However, KLM still seem to be charging for Amex and some MC, not all. I’d have thought if you trade in the UK, you do it under UK law?

    • Polly says:

      Thought it was Eu law, not just UK…

    • Graham Walsh says:

      I was able to pay my council tax online now without a fee. However Just Eat call it a “service charge” of 50p per order.

      • TGLoyalty says:

        Are they charging everyone who pays cash 50p service charge too?

        • Graham Walsh says:

          Just reading their T&Cs. They take 14% of the order value plus 50p. They will, on behalf of the Restaurant, charge the Customer: a £0.50 admin charge per Order paid for online

          Seems like it regardless of card or cash

    • Lady London says:

      About time too. Handling cards these days is a normal part of doing business that costs pence and fractions of pence, for large merchants certainly. How this ripoff (I’m looking at you British Airways) was ever allowed to continue is beyond me.

      If it was the EU that got this sorted out then another case where something good came to normal people from the EU that was not given by the UK government.

      Sorry for the OT it’s January and miserable weather so I’m taking the opportunity to grump 🙂 Think I’ll rename myself “Grumpy London” 🙂

      • Andy says:

        It certainly doesn’t cost pence if you’re a small business. If you aren’t doing high volume then it’s normal to be giving up 2% depending on the transaction size. On some small transactions if a customer pays by PayPal I can be giving 8% in fees to PayPal.

        • Rob says:

          But why take Paypal? I will use it if it is offered, purely to save me having to get my card out, but it absolutely isn’t essential.

        • Cate says:

          We’ve just changed energy suppliers and none of them would take credit cards, either cheque or cash! Cash for goodness sake !!

  • Rob says:

    Hi Rob – any jdea why the regulator sided with HSBC re the Premier World Elite card? Surely the marketing material / T&Cs are misleading if they don’t include something along the lines of ‘you must hold the card, and pay the annual fee, for a minimum of 2 years in order to receive the 40,000 bonus’.

    • Mr(s) Entitled says:

      See “Anniversary Bonus” in the comments below.

    • Rob says:

      ‘You have a year to spend £12k so HSBC is allowed to only check once a year whether you hit the target and only pay then’

      • Lady London says:

        Hum. A backward leaning double somersault by the regulator, in order to find in favour of HSBC’s intention that they did not state explicitly enough in the t’c and c’s.

        Come on HSBC you need to honour anyone that signed up to t’s and c’s that did not fully cover the restriction you wanted to put. If you want to stop honouring your own t’s and c’s then by all means create contracts with new customers under different t’s and c’s that do state clearly any extra restriction on payout you would like to put.

  • JB says:

    Have had the Hsbc premier world elite since July and this month was credited the second tranche of 40k points for hitting £12k spend with no complaint or contact to or from Hsbc, they just appeared ????

    • scottnothing says:

      Same for me. My card is due for renewal on 8 Feb and an additional 20,000 points credited to my existing tally on 8 Jan. I haven’t called HSBC to press them on this, but had planned to. A very nice surprise.

  • Ian says:

    I made many calls to HSBC about this and they always refused to accept that their terms & conditions were misleading. The heading for the 2nd bonus in the T&Cs is ‘Anniversary Bonus’. So they always held that the within 60 days of qualification meant within 60 days of the card anniversary if you’ve spent £12,000

    • Rob says:

      All I can say is that there are examples where HSBC have accepted they were wrong and paid out, so keep trying if it’s worth it for you.

    • Mr(s) Entitled says:

      I couldnt work out from the article how HSBC could contest and win. Thanks for providing the “Anniversary Heading” incormation. That is an important data point and while the T&Cs could be better written I would argue their intent is clear.

      I’m on HSBCs side but fair play to anyone who can make them cough up.

      • Rob says:

        In my experience – having made a FOS complaint against Amex which was 100% justified and lost – is that they are biased against you.

        • New Card says:

          This happened to me. I complained to the FOS and got a response rejecting my complaint on extremely spurious grounds.

          I was minded to appeal but I’ve just checked my account and the points are now in there!

          It strikes me as at least possible that HSBC run the assessment at calendar year end for convenience sake – might explain my experience and the number of people now reporting receipt of the extra points in January?

    • Lady London says:

      It cannot be questioned whether anyone who spent the required amount had qualified for the payout. The regulator could give HSBC right on the timing of the payout but not on whether you had qualified for it based on the t’s and c’s. So anyone who qualified should still receive the payout even if they’d closed their card by the time HSBC believed they had promised to pay it. I think the regulator did a poor job and would have appealed.

    • Rob says:

      Does anyone know how it works with the Amex Gold when you spend £15k in 1 year to get 10000 bonus MRs? They seem to have similar wording – does that mean you have to keep Amex Gold for at least 2 years, paying £140 in 2nd year?

      ‘Anniversary Bonus
      Celebrate with 10,000 Membership Rewards points after each year of Cardmembership when you spend at least £15,000 within the 12 month period of your Card anniversary.’

  • Craig Strickland says:

    Mine posted the same month as the £195 renewal fee. I’ll keep a good eye on it this year to see whether it is worth it for the number of Avios earned. They really need to look at some ongoing bonus or perk system beyond the lounge access.

  • mark2 says:

    Presumably you mean the financial regulator.
    Has anyone tried referring them to the Advertising Standards Authority?
    (this card does not appeal to me even if I still had the income).

  • Nilesh says:

    Following my query on this site just before Xmas, I sent a Secure Message to HSBC about my anniversary points. Note (not sure whether it matters or not) but I didn’t refer to them as “anniversary points” but “additional points” (or something like that). Just checked my secure messages and they sent me message in early Jan saying my 40k points will there in the January statement.

    • Polly says:

      Same here.. In my ongoing discussions with them from July to oct, they had no clue about their own t and c. Finally got a clef in manager, whom l managed to inform about how much better Amex were when dealing with high value customers. Felt they could learn from them, actually. The regulator has warned HSBC to clean up their act and play fair, in private. Publicly they are sticking to the anniversary wording. However, they did agree with me that waiting until the very last moment to apply the bonus, and forcing you to pay another fee was unfair. So they have been dropping he bonus in ahead of year end now. I have not been able to read the judgement. But l certainly quoted may examples of where they could improve their customer services in future, if they wanted more stayers. They asked me a lot about a bonus system. Told them even high value customers appreciate an odd bonus.
      So yes, worth a gamble taking thermos,,but like think lesson has been learned.
      Now for a transfer bonus…..

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