Earn points with your choice of HSBC Rewards or HSBC Qantas Rewards and save with low interest rates when you apply for the HSBC Premier World Mastercard.
The HSBC Premier World Mastercard gives you the option to choose between two popular rewards programs — earn Qantas Points or HSBC Premier Rewards. If you want to use this card for balance transfers, you can get a special introductory rate for 6 months. Cardholders can also take advantage of up to 55 interest-free days on purchases when they use this card in the right manner. If you get this card, you get access to the HSBC home&Away Privilege Program, and registration for HSBC Premier Alerts is free.
|Product Name||HSBC Premier World Mastercard|
|Rewards Program||HSBC Rewards Plus|
|Balance transfer rate (p.a.)||5.99% p.a. for 6 months|
|Balance Transfer Revert Rate|
The interest rate after the balance transfer ends.
|Cash Advance Rate (21.99% p.a.)|
|Purchase rate (p.a.)||19.99% p.a.|
|Annual fee||$0 p.a.|
|Interest Free Period|
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
|Up to 55 days on purchases|
|Cash advance rate (p.a.)||21.99% p.a.|
|Min credit limit|
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|Foreign Currency Conversion Fee (MC)|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|2% of transaction value|
|Complimentary Travel Insurance||Yes|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Credit Rating Requirement||Good|
|Annual fee||$0 p.a.|
|Minimum Monthly Repayment||3% or $20 whichever is higher|
|Late Payment Fee||$30|
|Cash Advance Fee||The higher of $4 or 3.0% of the total transaction amount|
|Overseas Cash Advance Fee||The higher of $4 or 3.0% of the total transaction amount|
|Overseas ATM Withdrawal Fee||$0|
|Foreign Currency Conversion Fee|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You'll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|Gambling Transactions Allowed||Yes|
|Additional Cardholder Fee||$0|
|Rewards Program||HSBC Rewards Plus|
|Rewards Points per $ spent (VISA/MC)||1|
|Rewards Points per $ (VISA/MC) Cap||Uncapped|
|Rewards Points per $ spent (AMEX)||0|
|Rewards Points per $ (AMEX) Cap||N/A|
HSBC Premier World Mastercard review
Applying for the HSBC Premier World Mastercard can be a good option if you plan to use this card to transfer balances from existing credit and store cards that charge higher interest rates. When it comes to earning and redeeming reward points you can choose between the HSBC Rewards Plus Program and the HSBC Qantas Rewards Program, where while the former does not attract an annual fee, the latter does. A comprehensive insurance package protects your purchases and offers you protection when you’re travelling overseas.
Benefits of HSBC Premier World Mastercard
The HSBC Premier World Mastercard offers cardholders a number of benefits:
- Balance transfer offer. You can use this card to transfer balances from existing credit cards and store cards. Take advantage of the introductory low rate on balance transfers if you request for the balance transfer when you apply for the card or within one month of getting the card. The introductory rate stays in place for 6 months, at the end of which any outstanding balance starts attracting the card’s cash advance rate.
- Rewards program. The HSBC Rewards Program lets you earn 1 reward points for every dollar you spend on eligible purchases, and you can redeem your points for a variety of travel, shopping, and merchandise rewards. Through the HSBC Premier Rewards for Miles program, you can transfer your reward points to airline frequent flyer programs like KrisFlyer, AsiaMiles and Velocity frequent flyer points. You will get 1 frequent flyer point for every 2 HSBC Reward points transferred, with the option of transferring 5,000 or 10,000 HSBC Reward points. Through the HSBC Qantas Rewards program you earn one Qantas Point for every dollar you spend on eligible purchases, and enrollment to the program is free. There is no cap on the number of points you can earn through both of these programs.
- Complimentary insurance covers. All HSBC Premier World Mastercard holders receive complimentary purchase protection insurance, extended warranty insurance, and international travel insurance.
Features of the HSBC Premier World Mastercard
- Annual fee. You don’t have to pay any annual fee if you get the HSBC Premier World Mastercard with the HSBC Rewards Plus. If you opt for HSBC Qantas Rewards, you'll have to pay $99 p.a.
- Balance transfer offer. This card comes with a special low interest rate offer for 6 months on balance transfers.
- Choice of rewards program. Not many credit cards give you the option to choose between different rewards programs, but this one does.
- Interest-free days. If you pay your card’s outstanding balance in full each month you can get as many as 55 interest-free days on purchases.
- Complimentary insurance covers. As with most premier credit cards, this one offers various complimentary insurance covers.
- Access to the home&Away Privilege Program. You can access this program to find out about offers relating to entertainment, leisure, dining, and shopping in over 40 countries.
- Additional cardholders. You can get additional cards linked to your primary card, and these cards don’t attract any additional card fees. Additional cardholders should be at least 16 years of age.
- HSBC Premier Alerts. You can register for HSBC Premier Alerts for free, and this service sends you an email or a text message every time you use your card online or overseas.
- PayPass. This card is PayPass enabled, so you can make contactless payments of up to $100 at merchants who support this technology.
- Eligibility to Apple Pay. Enjoy a convenient and secure way of making contactless payments with the use of your iPhone, Apple Watch and iPad. Learn more about the Apple Pay feature here.
How to apply for the HSBC Premier World Mastercard
You can apply for the HSBC Premier World Mastercard conveniently online. Existing HSBC customers with access to internet banking can also enquire online.
- You should have an HSBC Premier Cash Management Account
- You should have a combined minimum total of $500,000 with HSBC Bank Australia Limited in the form of loans, savings, and investments
- You should have a minimum of $200,000 in savings with HSBC Bank Australia Limited
- You should have a minimum of $500,000 in loans with HSBC Bank Australia Limited
- Your name, phone number and residential address
- The name and contact details of your employer along with details of your employment
- Includes your income, expenses, assets, and liabilities
If you’re looking forward to earning and redeeming reward points and if you want to take advantage of a special rate on balance transfers, getting the HSBC Premier World Mastercard could be an option to consider. Given that there are other credit cards that offer similar features, comparing a few at the onset is recommended.Back to top