HSBC Premier World Mastercard

Earn either HSBC Rewards points or Qantas Points and enjoy perks including airport lounge access and complimentary travel insurance.

The HSBC Premier World Mastercard lets you choose between earning points through HSBC Rewards Plus or HSBC Qantas Rewards. It also offers a wide range of premium perks. This includes access to over 1,000 airport lounges through the LoungeKey program and complimentary travel insurance for both domestic and international trips.

19.99% p.a.

Purchase rate


Reward point

Per $ spent

$0 p.a.

Annual fee

55 days

Interest free period

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Product NameHSBC Premier World Mastercard
Rewards programHSBC Rewards Plus
Purchase rate19.99% p.a.
Annual fee$0
Interest-free periodUp to 55 days on purchases
Cash advance rate21.99% p.a.
Min credit limit$10,000
Card typeMastercard
Foreign currency conversion fee2%
Available to temporary residentsNo
Joint applicationNo


  • Offers choice of 2 Rewards Programs – HSBC Rewards Plus or HSBC Qantas Rewards
  • $0 annual fee when you opt for the HSBC Rewards Plus
  • Comes with complimentary travel insurance covers including Extended Warranty and Purchase Protection Insurance


  • Does not come with any introductory offers on purchases and balance transfers
Rewards programHSBC Rewards Plus
Bonus pointsN/A
Rewards points per $ spent1
Annual fee$0
Minimum monthly repayment3% of the closing balance or $20, whichever is greater
Late payment fee$30
Foreign currency conversion fee2%
Cash advance fee3% or $4, whichever is greater
Overseas cash advance feeThe higher of $4 or 3% of the total transaction amount
Overseas ATM withdrawal fee$0
Additional cardholder fee$0

Review by

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The HSBC Premier World Mastercard is loaded with premium features and reward options. If you choose the HSBC Rewards Plus program, you’ll earn between 1 and 1.5 points per $1 spent on eligible purchases and can redeem rewards including gift cards, merchandise and point transfers to Velocity Frequent Flyer, Asia Miles or Singapore Airlines KrisFlyer. You’ll also enjoy a $0 annual fee for the account – a rare feature for a rewards credit card.

If you pick the HSBC Qantas Rewards option, you'll earn 1 Qantas Point per $1 spent on eligible purchases and pay a $99 annual fee. Considering the 1:1 earn rate, this annual fee is very competitive among Qantas Frequent Flyer credit cards. But if you're a big spender, take note that both the HSBC Rewards Plus and HSBC Qantas Rewards also cap your earnings at 10,000 points per statement period. This is equivalent to a monthly spend of around $6,666 to $10,000 depending on the rewards program and your spending.

How to apply

If you're new to HSBC Premier, you can submit an enquiry online or call 1300 131 605. If you already have a Premier account with HSBC, you can apply for this card through online banking or by calling 1300 301 168. Below are the eligibility requirements you need to meet for HSBC Premier accounts, as well as the documents and details you should keep handy for the application process.

Eligibility criteria

  • HSBC Premier account requirements. You can only apply for a HSBC Premier World Mastercard if you meet the following requirements:
    • Have a minimum of $500,000 in loans OR $200,000 in savings/investments OR a combination of loans, savings and investments worth a minimum of $500,000 with HSBC Australia
    • Maintain a HSBC Premier Cash Management Account (attracts a monthly fee of $35)
  • Age. You must be at least 18 years old to apply.

Card benefits

  • HSBC Qantas Rewards option. Choose the HSBC Qantas Rewards option and you'll earn 1 Qantas Point per $1 spent on eligible purchases, capped at 10,000 points per statement period.
  • HSBC Rewards Plus option. If you pick the HSBC Rewards Plus, you will earn 1 point per $1 spent on eligible purchases in Australia and 1.5 points per $1 overseas. Points are capped at 10,000 per statement period

Rates & fees

  • Annual fee. If you choose HSBC Rewards Plus, this card has a $0 annual fee. If you choose HSBC Qantas Rewards, this card has an annual fee of $99.
  • Purchase interest rate. If you shop with this card and don't pay off the full balance each month, an interest rate of 19.99% p.a. will apply to your purchases.

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    Default Gravatar
    March 27, 2018

    Do you have to have an HSBC account to have an HSBC credit card?

      Default Gravatar
      March 27, 2018

      Hi Sarah,

      Thanks for your message and for contacting Finder.

      For the HSBC Premier World Mastercard, you would need an HSBC Premier Cash Management Account.
      But in general, below are the eligibility requirements in applying for an HSBC credit card:

      • You must be 18 years or older to apply for an HSBC credit card.
      • You must be an Australian citizen or Permanent Resident to apply.
      • You need to meet the minimum income requirement stipulated for the card of your choice. This is $20,000 for the HSBC Low Rate Credit Card and $40,000 for the HSBC Platinum Credit Card or HSBC Platinum Qantas Credit Card.
      • Your credit history and credit score must typically be very good or excellent.

      Hope this helps!

      Best regards,


    Default Gravatar
    September 20, 2016

    I don’t have HSBC account or any savings or loans with them,does this mean I can’t apply for a premier world credit card

      Avatarfinder Customer Care
      September 22, 2016

      Hi Marg,

      Thanks for your inquiry.

      In order for you to apply and receive the benefits of a premier credit card, you need to be a premier customer. To be a premier customer, you need at least 200k savings or 500k in loans with HSBC or a mixture of both.

      For further assistance, please get in touch with HSBC directly.

      I hope this helps.


    Default Gravatar
    August 16, 2016

    please let me know the upper age limit to qualify for complimentary travel insurance

    and what does 4 months cover mean?

    I already have Premier world Mastercard

      Avatarfinder Customer Care
      August 16, 2016

      Hi J R SHAH,

      Thanks for your question.

      There is no age limit to be eligible for the complimentary insurance cover attached to HSBC Premier World MasterCard. However, other eligibility criteria apply. The complimentary insurance will cover you for only 4 consecutive months and it cannot be extended.


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