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HSBC Making Changes to Premier Mastercard

The HSBC Premier World Elite Mastercard is the upper-echelon travel card in the HSBC credit card lineup. Now, HSBC is making further enhancements to the card to provide even greater value to frequent travelers. Here’s what you need to know about the changes to the HSBC Premier World Elite Mastercard – and when they take effect.

HSBC Making Changes to Ultra-Premium Premier Card

The COVID-19 pandemic has seen credit card issuers of all sizes make changes to their premium travel cards to entice existing cardholders to maintain their accounts during a travel lull. HSBC is the latest issuer seeking to provide better value for money with its HSBC Premier World Elite Mastercard.

While the Premier Card already offers triple points on travel and double points on dining – as well as a 35,000-point signup bonus (worth upwards of $500), more could be done to make the $395 annual fee worthwhile (This annual fee is waived for HSBC Premier checking customers). HSBC is recognizing this and will roll out new changes to the card on January 1, 2021.

Premier Changes Start January 2021

So, what are these changes? For starters, the current $100 statement credit for travel will be replaced by a new travel credit worth up to $400. This new credit system breaks down to $100 in travel credits when the cardholder spends $2,000 through the HSBC travel portal.

The Premier Card already provided lounge access, but HSBC is upgrading this, too. Instead of two visits, Premier World Elite Mastercard holders can enjoy unlimited lounge access via the LoungeKey network. This unlimited-access perk extends to both the cardholder and one guest.

HSBC is also introducing a limited-time bonus spending category: “home and health.” Cardholders earn 2X points on eligible purchases (including groceries, gas, healthcare, pharmacy, home improvement) from 01/01/2021 – 06/30/2021.

Other notable changes include:

  • The addition of Travel Services Medical Protection Insurance
  • Replacing a $50 Uber/Lyft statement credit with a $120 credit for Lyft/Uber
  • Surprise “Luxury Thank You Gifts” after spending $50,000, $75,000, and $100,000 on the card annually

Related Article: Citi Double Cash Will Now Be a World Elite Mastercard

Featured photo by Matthew Henry / Burst
About: Cory
Cory Santos

Cory is BestCards.com's "Jack of all trades" and resident rewards expert, covering all facets of the points game – especially travel, hotels, and airlines. In addition to credit cards, Cory finds that jogging, cats, and memes are essential parts of a balanced day.