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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.

best travel rewards credit cards

Want to earn more points from credit cards? – July 2024 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:

Barclaycard Avios Plus card

Barclaycard Avios Plus Mastercard

Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review

Barclaycard Avios card

Barclaycard Avios Mastercard

5,000 Avios for signing up 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.

Marriott Bonvoy American Express

20,000 points for signing up and 15 elite night credits each year 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

British Airways American Express Premium Plus

30,000 Avios and the famous annual 2-4-1 voucher Read our full review

The Platinum Card from American Express

40,000 bonus points AND (to 27th August) £400 to spend at Amex Travel Read our full review

Virgin Atlantic Reward+ Mastercard

18,000 bonus points 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 sign-up bonus and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

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

Capital on Tap Business Rewards Visa

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 Business Credit Card

1% cashback uncapped* on all your business spending (T&C apply) Read our full review

Comments (43)

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

  • Ben says:

    I complained to HSBC, used all the words a bank hates to hear (misleaded, ripped off etc) and they gave me the 40,000 points instantly

  • ChampagneSocialist says:

    I had reached the spend target some months ago but never got round to phoning up HSBC to demand the points. On last month’s statement they protectively credited me with the renewal bonus anyway, even though my renewal is not due till March (and they haven’t yet taken the renewal fee). So something has changed in their process…

  • Patrick says:

    Dies anyone know whether you can get the HSBC sign-up bonus again, i.e. cancelling now and waiting for a while ?

  • RK says:

    O/T – a little while back there was a website mentioned where all the printer cartridges, lego etc bought from Tesco which has bonus points were then sold.

    I.E. bought the product for the bonus points,
    No interest in the product itself

    Can anyone remind me what this website is?


  • Michael_s says:

    I just hit my hsbc world elite target of 12,000 – thanks for heads-up on HMRC deadline Rob! Is there anyway to churn this card once points are in? Or once you got the bonus you’re not eligible again (even after years??)

  • Lady London says:

    “I know that some readers have complained to the regulator about HSBC’s behaviour – and lost.”.

    What use is the regulator then? It’s in the t’c and c’s. How can any competent fair regulator have let HSBC get away with this in even one single case? Is this another example of a toothless regulator such as we have for water and telecom industry, who in my view are too far in cahoots with those they are supposed to be regulating?

    If HSBC is addressing the higher wealthier market segment, as implied by their extremely high criteria for income or investment with them for their cards, they should learn that their customers have a choice and don’t take kindly to sleazy behaviour on the part of any bank.

    • Olly says:

      ThisIsMoney UK did an interesting article on 25th April showing how useless the FOS is. (Google -Staff meltdown at the Financial Ombudsman) An eye-opener to anyone who thinks they will be able to rely on them to be competent and effective in their role.

    • Polly says:

      HSBC has had a slap on the wrist recently. Now towing the line…they need to be aware that these customers appreciate rewards too! Ex a bonus or two annually…

  • Cate says:

    OT – Haven’t seen this mentioned before but just in case anyone is interested Marriott Windsor have a free airport parking deal ‘Winter Getaway Park Here, Fly There’ valid till 11/10/18. I’ve booked parking at the Renaissance Heathrow and never had any problems.

    ‘Forget airport parking. This special offer invites you to enjoy 4, 7 or 15 days of free parking at the hotel along with an unsurpassed start to your trip.

    Make travel fun again with this convenient package! Check in at the Heathrow/Windsor Marriott Hotel to enjoy a good night’s sleep, and then leave your car at the hotel for 4, 7 or 15 days while you head out of town.’

  • Gary says:

    I’ve had a lot of back and forth with HSBC on this issue, as I was expecting to receive the anniversary bonus without renewing for the second year. I was previously advised to hold onto the card and cancel after the anniversary when bonus points would appear, and was later told that they are unable to refund the annual fee once it’s been charged!

    Long story short, they reimbursed the annual fee to my current account through the complaints procedure, and I’ve still haven’t cancelled the card!

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

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