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CONFIRMED: Get a 25% bonus on HSBC Premier credit card points conversions to Avios

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We now have confirmation that HSBC has launched a 25% bonus on conversions of HSBC Premier credit card points to Avios.

We covered this story over the weekend after readers reported seeing a mysterious 25% uplift in their points transfers.  It wouldn’t have been totally unexpected as HSBC ran similar bonuses from 1st to 31st August in 2018 and 2019, although this one didn’t seem to start until 16th August.

We now know that the offer is live.

This box may appear when you go into online banking:

HSBC Premier to Avios bonus

There is also a full set of terms and conditions available online.  You can find them here.

The offer ends on 19th September as you can see from the box above.  There is no restriction on the number of transfers you can make.

Are the HSBC Premier credit cards a good way of earning Avios?

The two HSBC Premier credit cards are very generous.  The snag is that you need to have a HSBC Premier current account to get them.  Whilst Premier is free, the income and/or savings requirements are high as you can see here.

The free HSBC Premier Mastercard, reviewed here, earns:

  • 0.5 Avios
  • 0.5 Asia Miles
  • 0.5 Singapore Airlines Krisflyer miles or
  • 0.5 Etihad Guest miles

…. per £1 spent in the UK.  This rate is double for overseas spending.

Note that the credit card earns 1 HSBC point per £1 spent (2 HSBC points per £1 spent abroad) and these convert at 2:1 into airline miles.  Don’t get confused by the HSBC earning rate and the equivalent airline miles earning rate.

The £195 per year HSBC Premier World Elite Mastercard, reviewed here, earns 1 mile per £1 spent in the UK (2 HSBC points per £1) and double this when abroad.

The card also comes with airport lounge access via LoungeKey.  The World Elite card is less good for families who want lounge access than Amex Platinum as your HSBC card only gets the main cardholder into an airport lounge.

You can pay £60 to give your partner a supplementary card for a year to get them in, but there is no way to get children into airport lounges for free.  Amex Platinum, on the other hand, gets a family of four into a lounge.

You also get comprehensive travel insurance as part of the HSBC Premier current account, which makes this an interesting alternative to The Platinum Card from American Express for couples or solo travellers.

Is it worth a transfer?

Potentially yes.  In the worse case scenario, you can convert 1.25 Avios into 2 Nectar points, worth 1p.

You are therefore cashing out your HSBC points for a minimum of 1p each, albeit 1p in Sainsbury’s, eBay or Argos credit.  This isn’t bad.

On the other hand, if you already have a large Avios stash, I would think twice.  I would rather retain the flexibility to pick up some Singapore Airlines or Etihad miles – letting me fly to places where Avios may have no availability – rather than topping up an already large Avios pile.

You have until 19th September to decide what to do.

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

Comments (32)

  • NC says:

    I don’t see a daily transfer limit in the terms?

  • LST says:

    Can also confirm the bonus is live, transferred on Friday, points and 25% bonus arrived today.

  • Robert says:

    Also transferred on Friday but the bonus didn’t show on the conversion page. I must’ve done something wrong, will call HSBC to see if they’ll convert them back for me to try again.

    • AspirationalFlyer says:

      Does not appear on mine either. I have done a test transfer of 50 points for now to see what happens.

  • Lynn says:

    Can you transfer the Nectar points back to Avios points back later?

  • Colin says:

    Did mine Saturday… ( leap of faith). conversion and bonus hit this morning.

  • Elliot Cohen says:

    Slightly OT – with all these new Avios bonuses, partners and a load of people with a surplus of Avios built up over the pandemic – is a devaluation inevitable at this stage?

    • Rob says:

      Not whilst the seats you are booking have a zero marginal value to the airline (ie BA could have sold that ticket for cash, which at the moment they can’t).

      • JC says:

        But at some stage when things resume to normal (whenever that is), demand for cash tickets will shoot up. You have people with loads of vouchers to use and others with loads of Avios. I can’t see any other outcome

        • Rob says:

          Demand for full fare tickets won’t rush back. BA is fairly ambivalent between selling you NY in J for £1299 and letting you use 120k Avios plus £550.

          • Tom says:

            Do we have a sense of what demand really looks like? I’m sure there has been a surge of bookings in recent weeks, but how big is it? I’m wondering how good we might expect the September sales to be 🙂

  • Stephen says:

    Greetings from Miami Platja, south Tarragona as we are near the end of our holiday. Just got the bonus HSBC as I converted my points last Saturday. I thought the best I could do for 2 weeks in Spain would be Groupon deals via IberiaPluStore!! This is a bonus on top for HSBC. Thank you Rob.
    Not sure if everyone is aware but when you do the point of entry form to Spain you can do this before 48 hours for flying for basic details. You can then go back in on the 48 hours before flying to upload the NHS covid cert.

  • ZW says:

    I did two 195k transfers on Saturday, both got credited today with bonus.

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