HSBC Premier drops its income requirement to £75,000 – can you get the best Avios Mastercard?
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I have covered the HSBC Premier World Elite Mastercard extensively in articles like this. It is a VERY attractive Mastercard product if you want to earn Avios.
There is a £195 annual fee but you will receive 40,000 Avios points for spending £12,000 in the first year. 20,000 Avios (via 40,000 HSBC points) are credited if you spend £2,000 within 90 days and a further 20,000 Avios (via 40,000 HSBC points) are credited at the end of your first year if you have hit the £12,000 spending target.
You earn an unbeatable 1 Avios per £1 (via 2 HSBC points per £1) on the World Elite Mastercard AND get access to 500 airport lounges worldwide via LoungeKey. Other perks include a £20 Uber credit each time you charge £500 to an airline. Full details can be found on the HSBC website here.
The representative APR is 59.3% including the annual fee based on a £1200 credit limit. The APR on purchases is 18.9%.
The standard HSBC Premier Mastercard is also attractive. As you can see here, the card is free – albeit there is no sign up bonus – and you earn 0.5 Avios for every £1 you spend.
You can also transfer your points to Etihad Guest, Asia Miles or Singapore Airlines Krisflyer at the same rates or use them for non-travel rewards.
Join HSBC Premier
The only snag with these cards is that you must have a HSBC Premier current account.
HSBC Premier has always had 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 have a high income, you qualify if you just have a HSBC mortgage or any investment (such as an ISA) or insurance product.
The income requirement has historically been £100,000 per year. From today, it falls to £75,000 per year. This opens it up to a lot more people.
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 other airline miles, via a Mastercard at the generous HSBC rates.
Want to earn more points from credit cards? – April 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 Mastercard
Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review
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.
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
40,000 bonus points and a huge range of valuable benefits – for a fee 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:
SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.
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
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
Huge 30,000 points bonus until 12th May 2024 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
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