Maximise your Avios, air miles and hotel points

What are the benefits of the HSBC Premier Mastercard?

Links on Head for Points may pay us an affiliate commission. A list of partners is here.

Why should you get the HSBC Premier Mastercard?

Today, I want to look at the top 10 card benefits you get if you apply for a HSBC Premier Mastercard credit card.

Here is the legal information we need to tell you:

HSBC Premier Mastercard

Bonus: None

Read our full reviewApply here

Other information:

  • Only available to HSBC Premier account holders
  • Annual fee: Free

Representative 18.9% APR variable

See if you qualify for the sign-up bonus +

There is no sign-up bonus on the HSBC Premier Mastercard.

There is a bonus on the HSBC Premier World Elite Mastercard.  This is worth 40,000 HSBC points (worth 20,000 Avios or other airline miles) for spending £2,000 within three months and a further 40,000 HSBC points (=20,000 miles) for spending £12,000 within twelve months.  The annual fee is £195 and you need to pay the fee for the second year in order to receive the second half of the bonus.

Learn more about the card benefits +

The points earned with the HSBC Premier Mastercard can be transferred to four airline frequent flyer schemes – British Airways Avios, Cathay Pacific Asia Miles, Etihad Guest or Singapore Airlines KrisFlyer.

They can also be redeemed for other items including retailer gift cards.

Cardholders can access any airport lounge in the LoungeKey network for a fee of £20 per visit.

The top 10 benefits of the HSBC Premier Mastercard

1. There is a generous sign-up bonus once or twice per year

The HSBC Premier Mastercard does not, as a rule, have a sign-up bonus.

Once or twice per year, however, there is an incentive.  The last one was worth 10,000 bonus HSBC points.

If there is a bonus running at the moment, it will show in the box above. This information is updated automatically based on the current position on the day you are reading this article.

2. The points you earn convert into FOUR different airlines

HSBC credit card points are HUGELY flexible because you can convert them into lots of different things.  You aren’t stuck with Avios, Virgin Flying Club miles or whatever.  You can keep them with HSBC for as long as you want and only convert them when you need them.

Airline partners are Avios, Singapore Airlines Krisflyer, Etihad Guest and Asia Miles.

3. You receive one HSBC point for every £1 you spend on the card

There are a few exceptions (cash withdrawals do not earn points) but in reality virtually every £1 you spend will earn another HSBC point.

One HSBC point is worth 0.5 airline miles, so you are getting 0.5 miles per £1 spent.

4. You receive DOUBLE POINTS when you spend in a foreign currency

Unfortunately, the HSBC Premier Mastercard adds a 3% foreign exchange fee when used outside the UK.  This means that the double points offer is not as generous as it appears.

Unfortunately there are no travel rewards card without a foreign exchange fee.  One option is to get a free Curve Card – see this HfP article – and link it to a miles-earning Visa or Mastercard.

Another option is to get a free card from Currensea. Currensea is a simple but clever idea. You pay abroad with your Currensea Mastercard debit card. Currensea translates the cost to Sterling with just a 0.5% fee (83% less than HSBC charges) and withdraws the money from your bank account. You can find out more by clicking here. Currensea is free so there is no risk in giving it a try.

Benefits of HSBC Premier mastercard credit card

5. This is the most generous Visa or Mastercard for earning Avios

At 0.5 miles per £1, this card is far more generous than the other way of earning Avios from a Visa or Mastercard – via NatWest MyRewards.

6. As a Mastercard, it is far more flexible than an Amex card

Many of the travel rewards credit cards we cover are American Express cards.  The problem with these is that they are not universally accepted.

As a Mastercard, the HSBC Premier credit card is accepted virtually everywhere that cards are taken.

7. There is no annual fee

The HSBC Premier Mastercard is free for life.

Other cards with annual fees may offer better earning rates but, unless you are a very heavy spender, you will often struggle to justify the fee from the extra miles earned.

8. You get 0% interest on balance transfers for 18 months

A 1.4% balance transfer fee applies, however.

9. You get 0% interest on purchases for nine months

This counts from the date you open your account.

10. You get many other benefits via your HSBC Premier current account, including free travel insurance

You need to have a HSBC Premier current account to take out the HSBC Premier Mastercard.  HSBC Premier is free, although you need to earn £75,000 or have substantial investments with HSBC, and the benefits include free comprehensive travel insurance.

Conclusion

The HSBC Premier Mastercard is a very generous card, given that it has no annual fee.  0.5 airline miles per £1 spent is a decent deal.  The only problem is the requirement to have a HSBC Premier current account before you can apply.

You can sign up for the HSBC Premier Mastercard, if you already have a HSBC Premier current account, or find out more information, on the official website here.

HSBC Premier Mastercard

Bonus: None

Read our full reviewApply here

Other information:

  • Only available to HSBC Premier account holders
  • Annual fee: Free

Representative 18.9% APR variable

See if you qualify for the sign-up bonus +

There is no sign-up bonus on the HSBC Premier Mastercard.

There is a bonus on the HSBC Premier World Elite Mastercard.  This is worth 40,000 HSBC points (worth 20,000 Avios or other airline miles) for spending £2,000 within three months and a further 40,000 HSBC points (=20,000 miles) for spending £12,000 within twelve months.  The annual fee is £195 and you need to pay the fee for the second year in order to receive the second half of the bonus.

Learn more about the card benefits +

The points earned with the HSBC Premier Mastercard can be transferred to four airline frequent flyer schemes – British Airways Avios, Cathay Pacific Asia Miles, Etihad Guest or Singapore Airlines KrisFlyer.

They can also be redeemed for other items including retailer gift cards.

Cardholders can access any airport lounge in the LoungeKey network for a fee of £20 per visit.

Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history.  By recommending credit cards on this site, I am – technically – acting as a credit broker.  Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as a credit broker.


Want to earn more points from credit cards? – October 2021 update

If you are looking to apply for a new credit or charge card, here are our October 2021 recommendations based on the current sign-up bonus

You can see our full directory of all UK cards which earn airline or hotel points here.

The following offers will end soon:

  • 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 BA Amex American Express card

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 BA Premium Plus American Express Amex credit card

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

Nectar American Express

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

American Express Platinum card Amex

The Platinum Card from American Express

60,000 points and an unbeatable set of travel benefits – for a fee 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

Amex Platinum Business American Express

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 card

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:

Barclaycard Select Cashback Credit Card

1% cashback and no annual fee Read our full review

The UK's biggest frequent flyer website uses cookies, which you can block via your browser settings. Continuing implies your consent to this policy. Our privacy policy is here.