HSBC Premier World Mastercard

The details shown below are for a card with Rewards Plus

The details shown below are for a card with Qantas Frequent Flyer

Choose the version of credit card that suits you best

  • Premier World Mastercard (Rewards Plus)

    Rewards: Rewards Plus

  • Premier World Mastercard (Qantas Frequent Flyer)

    Rewards: Qantas Frequent Flyer

19.99% p.a.

5.99% p.a. for 6 months and then 21.99% p.a.

$0

Rewards Plus

HSBC Premier World Mastercard

19.99% p.a.

5.99% p.a. for 6 months and then 21.99% p.a.

$0

Rewards Plus

19.99% p.a.

5.99% p.a. for 6 months and then 21.99% p.a.

$99

Qantas Frequent Flyer

HSBC Premier World Mastercard

19.99% p.a.

5.99% p.a. for 6 months and then 21.99% p.a.

$99

Qantas Frequent Flyer

Mozo Review   HSBC Premier World Mastercard Review

Last updated: 7 May 2018.

What's hot:
  • 2018 Mozo Experts Choice Award

  • $0 annual fee ($99 with Qantas Points program)

  • Complimentary insurance perks

  • 1 point per $1 spent earn rate

What's not:
  • 19.99% purchase rate

  • HSBC Reward Points expire after 36 months

Mozo snapshot:

If you’re on the lookout for a credit card that can also act as a great travel companion then the Premier World MasterCard from HSBC could be the card for you. With no annual fee ($99 if you opt for the Qantas Points program), a range of free insurance perks and a generous points earning rate, it’s little surprise that the Premier World MasterCard took out a 2018 Mozo Experts Choice Travel Money Award for best Travel Credit Card.

Key features:

The Premier World MasterCard from HSBC allows you to choose between two different  rewards programs: either the Rewards Plus program in which you’ll be able to earn 1 HSBC Rewards Point for every $1 you spend, or the Qantas Frequent Flyer program in which you could earn 1 Qantas Point for every $1 spent on eligible purchases.

Points lovers will be pleased to know that there’s no annual card fee with the HSBC Rewards Plus program, while the Qantas Frequent Flyer option comes with a low $99 annual fee. Just beware that with either program your points will be capped at 10,000 for each statement period.

Cardholders should do their best to avoid carrying a balance, as the Premier World MasterCard has a high 19.99% purchase rate, though you will have up to 55 interest free days on your purchases if you pay off your balance in full each statement period. It could also be worth giving ATMs a miss with the card, as it comes with a 21.99% cash advance rate.

The Premier World MasterCard also comes with a number of features which could come in handy for travellers, including complimentary domestic and international travel insurance and a competitive 2.00% foreign exchange margin.

Cardholders will also be able to access a number of other free insurance perks including extended warranty insurance and purchase protection insurance, plus like all HSBC cards, the Premier World MasterCard is compatible with Apple Pay.

There is also a special balance transfer deal on offer for cardholders with existing debt on another card, with HSBC offering a 5.99% purchase rate on balance transfer for the first six months, though this will revert back to the high 21.99% cash advance rate afterward.

Who it's good for:

With its complimentary insurances, points earning potential and competitive foreign exchange margin - all with a $0 annual fee - the HSBC Premier World MasterCard could be a great choice for international travellers as well as regular points lovers.

Any catches?

To be eligible for the Premier World MasterCard, you must have a minimum of $500,000 in loans or a minimum of $200,000 in savings and investments  (or a combination of loans and savings totalling at least $500,000) with HSBC.

Rewards program details

Rates and fees information correct as at 22 August 2018.

What your points get you

Fly Sydney to London

239,200 points

Fly Sydney to Melbourne

15,600 points

$100 Giftcard

20,000 points

$100 Cash

30,000 points

Points earning

1 point per dollar on Mastercard, uncapped

Rewards scheme

Redeem your points for shopping, travel and merchandise rewards.

You can choose to transfer points to airline programs including AsiaMiles, Singapore Airlines KrisFlyer and Velocity Points.

HSBC home&away program offers discounts on shopping, travel and more, in over 40 countries.

Value of rewards points

Spend $30,000 (Mastercard)

Spend $20,000 (Mastercard)

Spend $15,600 (Mastercard)

Spend $239,200 (Mastercard)

Uncapped

36 months

How do we calculate the rewards?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,

  • figure out how many flights or gift cards or cashback credits you could get for those points,

  • work out what that's actually worth to you,

  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.

  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.

  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.

  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.

  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.

  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.

  • Shopping rewards are based on $100 gift cards from a major national department store.

  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Close

Rate and fee details

Rates
  • 19.99% p.a.

  • none

  • 5.99% p.a. for 6 months and then 21.99% p.a.

  • yes

  • 21.99% p.a.

  • 55

Fees
  • $0.00

  • none

  • none

  • none

  • $30.00

  • 3%, min $4.00

  • 2.00%

  • $8.00

  • $0.00

  • $0.00

Features
  • $20.00

  • 3.0

  • yes

  • Must have a minimum of $500,000 in loans or minimum $200,000 in savings and investments, or a combination of loans, savings and investments totalling a minimum of $500,000 with HSBC.

Payment options

Apple Pay
Google Pay

Rewards privileges

Travel Insurance,
Extended Warranty,
Purchase Protection,
Account alerts by SMS,
Guaranteed Pricing

Other benefits

Access to the Home&Away Privilege Program to receive discounts and benefits.

Rewards program details

Rates and fees information correct as at 22 August 2018.

What your points get you

Fly Sydney to London

120,000 points

Fly Sydney to Melbourne

8,000 points

$100 Giftcard

16,160 points

$100 Cash

-

Points earning

1 point per dollar on Mastercard, uncapped

Rewards scheme

Points are automatically accredited to the Qantas Frequent Flyer Program.

All rewards redeemed via Qantas Frequent Flyer.

HSBC home&away program offers discounts on shopping, travel and more, in over 40 countries.

Value of rewards points

Spend $16,160 (Mastercard)

Spend $8,000 (Mastercard)

Spend $120,000 (Mastercard)

Uncapped

Never

How do we calculate the rewards?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,

  • figure out how many flights or gift cards or cashback credits you could get for those points,

  • work out what that's actually worth to you,

  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.

  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.

  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.

  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.

  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.

  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.

  • Shopping rewards are based on $100 gift cards from a major national department store.

  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Close

Rate and fee details

Rates
  • 19.99% p.a.

  • none

  • 5.99% p.a. for 6 months and then 21.99% p.a.

  • yes

  • 21.99% p.a.

  • 55

Fees
  • $99.00

  • none

  • none

  • none

  • $30.00

  • 3%, min $4.00

  • 2.00%

  • $8.00

  • $0.00

  • $0.00

Features
  • $20.00

  • 3.0

  • yes

  • Must have a minimum of $500,000 in loans or minimum $200,000 in savings and investments, or a combination of loans, savings and investments totalling a minimum of $500,000 with HSBC.

Payment options

Apple Pay
Google Pay

Rewards privileges

Travel Insurance,
Extended Warranty,
Purchase Protection,
Account alerts by SMS,
Guaranteed Pricing

Other benefits

Access to the Home&Away Privilege Program to receive discounts and benefits.

Customer Reviews

How are HSBC credit cards rated by the Mozo community?

Overall customer rating
5.5/10
Price
5.4/10
Features
5.6/10
Customer service
5.6/10
Convenience
5.4/10
Trust
5.8/10

Latest reviews of HSBC Premier World Mastercard

  • Overall
    9/10
    Highly recommended.

    Very convenient to use, service is very good too with friendly and helpful staff.

    Very convenient to use, service is very good too with friendly and helpful staff.

    Price
    8/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    7/10

    Boon | VIC

    11 Apr 2016

  • Overall
    9/10
    Great customer service.

    I like this bank because the services are personal and am able to communicate with them with...

    I like this bank because the services are personal and am able to communicate with them with regards to quarries. The con is that sometimes it takes some time to connect to the customer service via phone.

    Price
    9/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    9/10

    Balasundarsm | VIC

    07 Jul 2015

HSBC

About HSBC

HSBC in Australia is part of the HSBC Group, one of the world's largest banking and financial services organisations. HSBC has products for every money need you can think of, including savings accounts and term deposits for your day-to-day money management, a suite of home loans to finance your dream home, plus credit card and personal loan options. With branches all over the world, HSBC is the world's local bank!

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