Review
HSBC Elite Credit Card Review: Premium Travel Perks for HSBC Premier Clients
Is the HSBC Elite Credit Card worth the $495 annual fee? Our review breaks down the rich travel rewards, statement credits, and premium perks to help HSBC Premier clients decide.
| 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%. |
| Rewards Rate | 1x-5x points on purchases |
| Sign-up Bonus | 60,000 bonus points for travel |
| 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. |
Overview
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
Benefits
Drawbacks
Decision Guidance
Summary
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 t...