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