HSBC
HSBC Premier credit card
Key Features
| Annual Fee | $95.00 |
| Sign-up Bonus | 60,000 Welcome Bonus Points |
| Rewards Rate | 1x-3x Points |
| Regular APR | Competitive variable APR on purchases and balance transfers 19.99% to 24.99% (variable) A variable Purchase Annual Percentage Rate (APR) applies to credit card purchases and will be 19.99% to 24.99%, depending on your credit worthiness, for the HSBC Premier World Mastercard credit card. A variable Balance Transfer APR applies to balance transfers and will be 19.99% to 24.99%, depending on your credit worthiness. The variable Cash APR applies to cash advances and is 28.99%. These APRs will vary with the market based on the Prime Rate, for a maximum APR of 29.99%. |
| Other Fees | 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. There is no Foreign Transaction Fee. |
| Network | Mastercard |
About this card
The HSBC Premier credit card earns an overall rating of 2.9 (Fair) due to a stark dichotomy of features: it offers significant strengths for its highly niche target audience but presents major limitations for broader appeal. The rewards program is a definite highlight, offering competitive rates (3x on gas and groceries, 2x on travel) and a generous 60,000-point sign-up bonus. The card also provides numerous valuable statement credits for streaming, Instacart+, Lyft, and Global Entry/TSA Precheck, which collectively provide substantial value, easily offsetting the $95 annual fee for those who utilize these perks. The absence of foreign transaction fees is another strong advantage for its intended international clientele. However, the card is severely hampered by two critical factors. First, its APR rating is very poor (1.5/5.0) due to high regular purchase and balance transfer APRs (19.99%-24.99%) and a complete lack of an introductory APR period, making it an expensive option for carrying a balance. Similarly, the fees rating (2.8/5.0) is pulled down by excessively high balance transfer and cash advance fees. Most significantly, the strict eligibility requirement of holding an existing U.S. HSBC Premier checking account drastically limits its accessibility and overall relevance to the vast majority of consumers, regardless of its internal value. While the card offers strong benefits (reflected in a 3.8/5.0 Rewards Rating and a 'Good' Reputation within its niche), these are largely inaccessible and its high borrowing costs make it less appealing even for qualified users. Thus, it stands as an average card with notable limitations, excelling only within a very confined scope.
Pros & Cons
What's great
- Generous sign-up bonus
- High rewards rate on specific categories
- No foreign transaction fees
- Travel transfer partners
- Valuable lifestyle and travel credits
- Cell phone and purchase protection
Things to consider
- Annual fee applies
- No intro APR period
- High regular APR
- High balance transfer and cash advance fees
- Requires specific banking relationship
What this card offers
Sign-up bonuses
- Earn 60,000 Welcome Bonus Points, worth up to $625 in travel when booked through HSBC Travel, after spending $4,000 in the first 3 months of opening your card.
- The 60,000 Welcome Bonus Points is a limited time offer and applies when you open a new HSBC Premier World Mastercard credit card and charge $4,000 or more in new purchases (minus returns, credits, and adjustments) within the first three (3) months from Account opening (Promotional Period). This limited-time promotional offer applies only to applications submitted between 10/01/2026 and running through 01/15/2027. Applications received outside the Promotional Period will be considered eligible for the standard 50,000 Welcome Bonus Points offer, provided the same criteria are met.
Rewards
- Earn 3× Points on gas and groceries
- Earn 2× Points on travel
- Earn 1× Points on other purchases
Other features
- No foreign transaction fees
- Receive up to $60 in statement credits annually when you pay for your TV and radio streaming subscription.
- 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.
- Take 3 rides, and get a $5 Lyft App credit every month with your Premier credit card.
- Speed up airport screening with up to $85 towards Global Entry, TSA Precheck, TSA Precheck by Clear, or NEXUS application fees, once every 4.5 years.
- Rewards for Miles program that allows you to transfer your points into any of our 11 airline and 2 hotel partners’ loyalty programs.
- Cellular Wireless Telephone Protection provides reimbursements up to $600 per claim if your cellphone is stolen or damaged
- Mastercard ID Theft Protection and Identity Fraud Expense Reimbursement provide support and expense reimbursement if your identity is compromised through identity fraud.
- Purchase Assurance covers most purchases from damage or theft within 90 days of purchase up to $1,000
Additional Notes
You must have an existing U.S. HSBC Premier checking account to apply. By using your Premier credit card, you can take advantage of benefits worth over $1,200 in the first year and $600 per year thereafter.