HSBC
HSBC Elite credit card
TravelDiningLuxuryNo Foreign Transaction FeesAirlineHotelCash BackExcellent Credit
Key Features
| Annual Fee | $495.00 |
| Regular APR | A variable Purchase Annual Percentage Rate (APR) applies to credit card purchases and will be 19.49% to 23.49%, depending on your credit worthiness. A variable Balance Transfer APR applies to balance transfers and will be 19.49% to 23.49%, depending on your credit worthiness, for the HSBC Elite World Elite Mastercard credit card. The variable Cash APR applies to cash advances and is 28.49%. These APRs will vary with the market based on the Prime Rate, for a maximum APR of 29.99%. |
| Other Fees | There is no Foreign Transaction Fee. The Minimum Interest Charge is $1.00. A transaction fee of $10 or 5%, whichever is greater, will apply for each Balance Transfer, Check, or Cash Advance transaction. |
| Network | Mastercard |
Read the full review
Best for those with
Very Good Credit
About this card
The HSBC Elite card presents a mixed bag, landing it at a 'Fair' overall rating. Its strengths lie in the generous travel rewards program and luxury perks, especially for those who can maximize the travel credits and lounge access. The 5x points on travel and a solid sign-up bonus are attractive. However, several significant drawbacks temper its appeal. The high $495 annual fee is a major hurdle, and the APR is relatively high, diminishing its value for those who carry a balance. Furthermore, its exclusivity to HSBC Premier clients severely limits its accessibility. While the rewards and perks are good, the high cost and limited availability make it an average card overall, and only suitable to a niche target audience.
2.8
Overall Rating
Pros & Cons
What's great
- Generous sign-up bonus
- High rewards rate
- No foreign transaction fees
- Lounge membership
- Luxury perks
- Transfer partners
Things to consider
- High annual fee
- High regular APR
- High balance transfer fee
- Requires good or excellent credit
What this card offers
Sign-up bonuses
- Earn 60,000 Welcome Bonus Points, worth up to $900 in travel, when booked through HSBC Travel, after spending $4,000 in the first 3 months of opening the card
Rewards
- Earn 5× Points on new travel purchases - including flights, hotels and car rentals.
- Earn 2× Points at restaurants and dining out.
- Earn 1× Points on all other purchases you make with your credit card.
Other features
- Earn up to $400 of travel credits per year for all airfares, hotels and car rentals booked through HSBC Travel.
- Speed up airport screening with up to $120 towards Global Entry, TSA Precheck, TSA Precheck by Clear, or NEXUS once every 4.5 years.
- Elevate your airport experience with complimentary and unlimited lounge access for the cardholder and up to 2 guests worth more than $469 annually with Priority Pass.
- Rewards for Miles program that allows you to transfer your points into any of our 11 airline and 2 hotel partners’ loyalty programs.
- Other benefits include MasterRental Coverage, complimentary travel insurance, airport concierge services, and exclusive discounts and upgrades from fine restaurants and designer brands.
- Earn up to $120 in statement credits annually on taxis, cabs and rideshare. Use your Elite credit card to pay for your rideshare and automatically receive $10 each month.
- Get up to $140 annually with Instacart+. When you sign up as a new member, receive 3 free months of Instacart+ and $10 off your second order each month.
- Unlimited concierge service - 24 hours a day, 365 days a year. A dedicated personal service ready to assist you with travel, dining, shopping, entertainment, securing coveted reservations, and special perks and privileges.
- Take 3 rides, and get a $5 Lyft App credit every month with your Elite credit card.
- Purchase Assurance covers most purchases from damage or theft within 90 days of purchase up to $1,000.
- Claim up to $800 if your cellphone is stolen or damaged using Cellular Wireless Telephone Protection.
- Mastercard ID Theft Protection and Identity Fraud Expense Reimbursement provide support and expense reimbursement if your identity is compromised through identity fraud.
Additional Notes
You must have an existing U.S. HSBC Premier checking account.
Ratings
3.8
4.1
3.5
1.5
1.8