In this review I will go through the pros and cons of using HSBC Premier World Elite credit card for your spending. The purpose of writing this review is to help others understand when it may or may not be the right choice for you.

Who is this for?

Only HSBC Premier and Jade customers are eligible to apply for this card. There are different ways to qualify for this account level which depend on income level, savings or investments with HSBC UK, or other products offered by HSBC UK.

What does it cost?

£195 annual fee – This credit card is for HSBC Premier or Jade customers. If you are a Jade customer this card is FREE as HSBC will refund the annual fee.

If you plan on using this card for your travel abroad, please be aware that this card will charge you fee of 2.99% on any foreign transaction. This is similar to what you would find using any HSBC credit card (e.g. Classic, Rewards, Premier, World Elite).

Interest rate is 59.3% APR variable which is charged on the balance. To avoid interest fees always pay the full balance on or before the due date. This way regardless of how much the interest rate is on your credit card, you will not pay any interest fees = FREE. A good way to avoid late payments is to set up direct debit.

Perks & Benefits

  • LoungeKey membership means you can relax in over 750 airport lounges worldwide for just £20 per person per visit, subject to availability
  • 10% discount on selected hotels with Expedia
  • 10% discount on selected hotels with Agoda
  • 12 months complimentary Expedia+ Gold membership

The HSBC Premier World Elite credit card does not include the benefit of extended warranty that comes with the HSBC Premier credit card.

How do I earn points?

Points earned are based on 3 types of transactions:

  • 4 points for every £1 – Non-sterling transaction or directly with airlines.
  • 2 point for every £1 – Sterling currency transactions.

This point scheme is earning you double the points of what you would be earning if using the HSBC Premier credit card.

Welcome Bonus

You can earn 40,000 reward points if you spend £2,000 on your card in the first 90 days of card membership.

First 12 Months Anniversary Bonus

If you spend £12,000+ within the first 12 months of membership you receive a further 40,000 reward points at the anniversary of card membership.

How can I use the points I earned?

There are multiple ways to spend the reward points that you have earned. The below is a list of some of them:

AirlinesBritish Airways, Etihad, Asia Miles, and Singapore Airlines.
Every 2 points are worth the equivalent of 1 Frequent Flyer Mile.
VouchersM&S, Amazon, and Sainsbury’s.
WineLaithwaite’s quality wines

The above is only a selection of what you can use your well-earned points towards.

How much are HSBC Reward Points worth?

Below is an illustration of how much HSBC reward points are worth:

PointsVoucher Value (£)Airline Miles
1,500 points = £5 in shopping vouchers (Amazon, Sainsbury etc.)
1,500 points = 750 airline miles (British Airways, Asia Miles, Etihad etc.)

When comparing reward points between HSBC and American Express, the latter option provides you most value:

Reward SchemePoint value in £
American Express1,500 points / 1000 * 4.5 = £6.75
HSBC1,500 points = £5

Point Calculation

This illustrates the points earned per year assuming the spend is on monthly basis.

The column “Spend GBP” illustrates the monthly spending where all transactions are made in GBP. The “Non-Sterling” column presents transactions made in a foreign currency converted to GBP. Points columns represent the aggregate number of points earned in relation to the monthly spend.

Spend GBP (£)Non-Sterling (£)Monthly Payment incl. fees (£)Points (12 months)Point Per £

The point scheme illustrated above is very good especially on non-sterling transactions that would incur when travelling abroad. The HSBC Premier World Elite credit card earns you double the points compared to the HSBC Premier credit card.

To earn enough points to justify the £195 annual fee, you would need to earn at least 58,500 points every year. Remember, that non-sterling transactions earns 4 points per £1.


If you qualify for Premier level at HSBC then this credit card is a strong contender because it has no annual fee, you earn points when paying with the card, and there a perks like extended warranty you can use to cover purchase of electronics (e.g. TV, Playstation, Xbox, Mobile phones) plus Gold+ membership with Expedia.


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