The HSBC Premier Mastercards thread

[Guernsey Globetrotter]

Received an email today summarising the changes:

– Annual fee for primary card holder increased from £195 to £290
– Additional cardholder fee remains £60
– You can now access complimentary Airport Security Fast Track at participating airports worldwide via Mastercard Travel Experiences powered by DragonPass. This applies to any additional cardholders too (need to register separately). Fast Track Access will apparently also give discounts (10-15%) in various airport bars and restaurants…

[BBbetter]

Everything else remains the same?

[Guernsey Globetrotter]

No other changes mentioned in the email. If that is the case it is very underwhelming. A fee that is basically the same as the Amex BAPP without any voucher makes the card feel quite uncompetitive. The addition of the fasttrack feature presumably costs HSBC buttons in comparison to the £95 (49%) annual fee hike. Here in Guernsey we don’t even have access to the full benefit platform, with the annual Avios bonus conversion etc., so for me I think this may be the end!

[Gareth]

You missed the part about the earnings rate increase…..

[Thegasman]

Care to elaborate on new earning rate?

[Sprout]

Still no email here..
Can anyone confirm if the earning rate is changing?

[DJ]

Just received an newsletter from HSBC:

Changing our products and services
We’ve made important changes this year to support our customers in making the most of their money. To help customers build healthy savings habits, we’ve introduced a fixed rate ISA and digital savings pots, as well as digital tools that allow customers to track their financial goals. We’ll also be unveiling improvements to our Premier account later this year.

I wonder if they are gonna start charging the Premier accounts. If that was the case then I will just switch providers.

[BBbetter]

Am sure it’ll be ‘enhanced’ by removing the travel insurance bit or making it conditional.

[Maples]

I think the income requirements were £100K at some point and then reduced to the current £75K. Jade got axed but it never looked like it was anything good. It always looked to me that the Jade was removed because it wasn’t offering much and after the notice given to the UK banks to offer reasonable stuff. I think this also made HSBC remove the £1750 monthly requirement for the Advance account – which offers pretty much nothing.

To me, the only benefit that HSBC offers is the travel insurance. What else could they even add? Breakdown cover? Discounted phone insurance?

[ukdoctor]

There are two types of hsbc premier ( this is for the islands..I don’t know if this is same for the UK)

You can get HSBC Premier – including a dedicated Relationship Manager – if both of the following apply to you:

You pay your annual income into your HSBC Premier account
You have savings or investments of at least £50,000 with HSBC in Jersey, Guernsey or Isle of Man

You can get HSBC Premier – not including a dedicated Relationship Manager – if you have both of the following:

An individual annual income of at least £75,000, paid into your HSBC Premier account
A mortgage, investment, life insurance or protection product with HSBC in Jersey, Guernsey or Isle of Man
Or if you’ve already qualified for HSBC Premier in another country.

[smblcklck]

Just received my change letter in the post. Earning rate is 3 points/£ (i.e. 1.5 miles).

What really irks me is I am still in the first year with this card, and as we know the second award of 40k points is contingent on keeping the card in year two, which is now £95 more than advertised

[JDB]

@smblcklck – I’m not sure there’s really much to complain about here. The fee has been stuck at £195 for ages so a rise was inevitable/overdue. The BAPP was also £195 not so long ago but went up to £250 and now £300. Making the second part of the SUB contingent on holding the card for two years just seems like good business. The 50% uplift in the earnings rate seems good and doesn’t take that much spend to cover the extra fee.

[smblcklck]

@JDB I’ve no issue with the second SUB being tied to year two. Up to now, it covered the fee if you follow a nominal 1p/Avios valuation. The new fee clearly is not covered by the SUB – and I am not suggesting it should be; merely that it’s a bit annoying, given it has fallen very close to my renewal.

It will be quite interesting to see if the SUB structure is altered at all, if and when the WE card is offered again to new applicants.

[Numpty]

Improved earn rate, fast track access and a whopping increase in the fee. For the improved earn rate to be genuine they will need to maintain the annual 25% bonus conversion rate on avios.

[JDB]

Numpty wrote:

Improved earn rate, fast track access and a whopping increase in the fee. For the improved earn rate to be genuine they will need to maintain the annual 25% bonus conversion rate on avios.

There is indeed a “whopping” increase in the fee but I think it’s the first increase since at least 2017?? HSBC did also waive annual fees during covid and the additional cardholder fee hasn’t increased. BAPP has increased twice in a shorter time period. As you say, I hope they keep the annual 25% bonus. A bit disappointed they didn’t increase the FX earning rate as well as £.

1.5 Avios/£ now from HSBC WE, Barclaycard Avios+, BAPP and Amex PRG if you include ‘Rewards As You Go Bonus’. Leaves Plat trailing…

[points_worrier]

For those who havent yet got the letter:
Changes from 23rd Sept 2024
Fee increases to £290 from the first renewal fee charged after 23rd Sept 2024.
Earn rates increase to 1.5 miles per £ spent from this date too
Access to Complimentary airport fast track via Dragon Pass experiences
Qatar airways is being added as a redemption partner
Other retails, travel and leisure partners are also being added (not specified though)
Current lounge access (including it looks like the restaurant credit) remains the same as before.

You have the option of downgrading your card or cancelling without charge if you do not agree to the new change.

It does not say if the 25% avios bonus will return next summer (but it never does…). If it did, this would be quite some earn rate.
Otherwise pretty balanced seeing as the credits have increased up to £18 each. I will definitely keep for one year at the remainder of my reduced rate, then will make a decision.

[travelersolo]

I paid the 195 fee a couple of months ago for the new card year. Earlier, I spoke with an agent who mentioned that if I keep the card past September, I would need to pay a new fee of 290 in September. This seems like a mistake, as I assumed the new fee would only apply when I renew my membership next time?

[travelersolo]

Just read the letter in full so misinformed agent

[BBbetter]

In effect, it’s the same fee and earn rate as BAPP.
Instead of the voucher, you get unlimited lounge pass including restaurants.

As you can get the same lounge access with Halifax / Lloyds for 180, you need to spend 22k to just break even from the third year (comparing to the free ARCC). That’s assuming first two years fee may be covered by the sign up bonus (have to wait and see).

[Steven]

Do you get the PP dining credits also with the Halifax and Lloyds cards? Thanks.

[Maples]

Steven wrote:

Do you get the PP dining credits also with the Halifax and Lloyds cards? Thanks.

Supposedly, yes, you do.

[points_worrier]

Maples wrote:

Steven wrote:

Do you get the PP dining credits also with the Halifax and Lloyds cards? Thanks.

Supposedly, yes, you do.

I believe so, yes. Given HSBC’s repsonse with the fee increase, I wouldn’t be at all surprised if they increase their fees to however.

[DanC]

Morning

1) Does anyone have a list / link to where I can see a list of Airports that the Fast Track will work?
2) How do you get the fast track, do you need to apply / request a voucher ahead of time?

Thanks

[JDB]

DanC wrote:

Morning

1) Does anyone have a list / link to where I can see a list of Airports that the Fast Track will work?
2) How do you get the fast track, do you need to apply / request a voucher ahead of time?

Thanks

You can find the facilities offered at each airport here:-

https://mastercardtravelpass.dragonpass.com/

Unfortunately they use DragonPass for this so it’s in a different app to lounges/restaurants HSBC now offers via PP.

[DanC]

JDB wrote:

DanC wrote:

Morning

1) Does anyone have a list / link to where I can see a list of Airports that the Fast Track will work?
2) How do you get the fast track, do you need to apply / request a voucher ahead of time?

Thanks

You can find the facilities offered at each airport here:-

https://mastercardtravelpass.dragonpass.com/

Unfortunately they use DragonPass for this so it’s in a different app to lounges/restaurants HSBC now offers via PP.

Thanks… so it two app now… PP for lounge & dragon for Fast track :(.

Think I may look at Lloyds