HSBC Elite Credit Card

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Last updated on November 3rd, 2021

HSBC Elite Credit Card

Earn 50,000 Rewards Program Bonus Points

HSBC Elite Credit Card
  • Regular Purchase APR 14.99% or 18.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 14.99% or 18.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 24.99% variable based on the Prime Rate
  • Annual Fee $395
  • Credit Needed Excellent
  • Processing Network Mastercard
Best Benefits
  • Earn 3X points per dollar spent on new travel purchases, 2X points on dining, and 1X point on everything else
  • Points earning is unlimited and points do not expire; earn statement credits for Uber, Lyft, and TSA Prev® enrollment
  • Earn 50,000 Rewards Program Bonus Points - worth $750 in airfare - when you spend $4,000 in the first 3 months of account opening using HSBC Rewards online to book
  • Rewards Program Points are transferable with partner airlines; Complimentary ShopRunner membership
  • Unlimited LoungeKey™ airport lounge access
Rates & Fees
  • Regular Purchase APR: 14.99% or 18.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR: 14.99% or 18.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $10 or 4% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 24.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
  • Penalty APR: 29.99% variable based on the Prime Rate
  • Annual Fee: $395
  • Late Payment Penalty Fee: Up to $39
  • Return Payment Penalty Fee: Up to $39
Credit Card Deals

At a Glance

The HSBC Elite Mastercard® credit card ups the ante on earning rewards and competes with other high-end travel cards such as the Chase Sapphire Reserve® and The Platinum Card® from American Express.

Ideal for Those Who:

  • Travel often and/or make frequent use of car rental services
  • Allocate most of your credit card expenses towards travel and dining
  • Are looking to add a hefty boost to your HSBC Rewards Program points balance
  • Want a high-end credit card that doesn’t skimp on additional perks and statement credits for your annual purchases
  • Can offset the card’s sizable annual fee

HSBC Elite Mastercard® Credit Card Review 

The HSBC Elite Credit Card (formerly the HSBC Premier World Elite Mastercard) is an impressive travel rewards card with a hefty $395 annual fee to match its impressive perks.

The HSBC Elite card will open your eyes wide with its 50,000 bonus point sign-up bonus, which you can attain after spending at least $4,000 within your first three months of account opening (the first 90 days). It’s a steep asking price, but all those bonus points are worth $750 in airfare if you redeem them through HSBC’s own rewards portal. If you already plan to make several hefty purchases after opening an account, then the sign-up bonus just becomes the icing on the cake.

While you work to reach that $4,000 threshold – and continuing thereafter – you’ll earn 3X points per dollar spent on new travel purchases, 2X points when you dine out, and 1X points on everything else. That rewards structure is very generous, and points don’t expire while your account is open. When you’re ready to redeem your points, you can do so for flights, hotel reservations, or car rentals.

If you opt for flight tickets, you can, as stated above, use the HSBC Rewards portal (which you should, as it gives you more value) or book directly with the airline; if you choose the latter option, HSBC will reimburse you the cost as a statement credit. In addition, there are no blackout dates or seat restrictions. And, if you’re joined to a partner airline’s frequent flyer program, you can transfer your points with no hassle.

These perks are available to you along with a bevy of other benefits: free airport lounge visits via Mastercard Airport Experiences provided by LoungeKey, annual credit reimbursements for travel incidentals, statement credits for Uber, Lyft, and TSA Precheck enrollment, unlimited Boingo Wi-Fi access, and robust travel insurance coverage, including trip cancellation insurance. All of these bonuses carry a price, though: A $395 annual fee. While it’s not pocket change, it is less than what similar premium travel cards charge.

Should You Apply for the HSBC Elite Mastercard®?

So if you’re a confident spender and constantly find yourself traveling from one location to another – be it for business or pleasure – consider adding the HSBC Elite Mastercard® credit card to your arsenal.

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