The leaders at Hongkong and Shanghai Banking Corporation (HSBC) are sure that the HSBC Premier World MasterCard is going to “fit your global lifestyle”. It offers some generous benefits, no annual fees, no foreign transaction fees and competitive APRs. It also comes stock with a “No Pre-Set Spending Limit” feature that can definitely be advantageous at times. This almost-elite credit card also offers a unique and generous rewards program. Let’s take a closer look.
First things first. In case you are unaware, the HSBC Premier World MasterCard is not easy to get approved for. There are conditions and ongoing requirements to receive and then maintain this card. For instance, you must have a minimum of $100,000 in combined investment and personal deposit balances, and you have these balances maintained consistently in your HSBC Premiere Checking account. Now if you are an owner of a business, then you can also use your commercial account balances to help qualify for the Premier Relationship. If, after you have been awarded a HSBC Premier World MasterCard, then you must maintain the minimum balance requirement or receive a monthly fee of $50.
So, let’s assume you have been approved for and have received your HSBC Premier World MasterCard. Now what? How do you get rewards? Well, it’s fairly straightforward. If you spend at least $1,500 during the first three billing cycles, then you will get 25,000 bonus rewards points. No monies involved with balance transfers, cash advances, overdrafts or credit card checks apply toward the $1,500. There is no earning cap and there are no expiration dates for your points. It will take roughly 5 weeks after the promotion has ended for your bonus points to show up on your account statement. When they do, you can redeem them toward a variety of options including:
- Purchasing airline tickets;
- Credit for frequent flyer miles;
- Getting cash back;
- Special deals on exotic vacation packages;
Accepted at millions of worldwide locations, the HSBC Premier World MasterCard gives you extra peace of mind wherever you may find yourself. This is an exclusive card that offers exclusive benefits including HSBC Premier Concierge Services. Concierge services make your traveling life more efficient and simpler by taking care of routine, yet important tasks like:
- Making dinner or lunch reservations;
- Purchasing event tickets;
- Coordinating worldwide or local business arrangements;
- Finding, purchasing and even delivering thoughtful gifts;
- and loads more…
If you are traveling (or not) and lose your HSBC Premier World MasterCard, you’re covered with services that immediately issue you a new card and/or provide emergency same-day cash advances. And of course, you are also completely covered against any unauthorized use that may be initiated on a stolen or lost card. This is especially nice to have in place if you happen to traveling in a remote location and are altogether without resources. In fact, these services alone could save a life. There’s a lot of other Premier Privileges too. Take a look.
HSBC Premier World MasterCard Benefits and Features
- The HSBC Premier World MasterCard has a No Pre-Set Spending Limit feature which can allow you to surpass your set credit limit. Each transaction attempted that would put you over your set credit limit is automatically reviewed for approval. Approval is based on various factors, but mainly on your past credit history and recent card performance.
- MasterRental® Insurance is in place fort whenever you may rent a vehicle. You simply decline the rental agency’s insurance, use your HSBC Premier World MasterCard to pay and that’s it. You’re covered against any damages or losses the rented vehicle may incur. Also, there are various other travel insurance coverage types automatically included. There’s Death & Dismemberment coverage, lost or damaged luggage coverage and more. You’ll need to take a look at the website to get all the details about this card. And on that note, the HSBC website for this card is one of the most well-developed websites I have ever researched.
- With the HSBC Premier World MasterCard, you’ll also enjoy regular opportunities to benefit from deep discounts of exceptional offers from worldwide participants. Offers for delectable taste treats, sophisticated entertainment or even highly fashionable clothing. It’s all there, in Premier-grade excellence.
APRs for the HSBC Premier World MasterCard
The HSBC Premier World MasterCard has a variable APR for general purchases of 12.99%. The same rate applies to balance transfers and credit card checks. If you take any cash advances, or if you incur any overdraft interest charges, they will be set at 24.99%. If you do not make your monthly payments on time, every month, without failure, then you may be switched up to a base APR of 29.99%. If you are charged any interest at all on any monthly statement, it will be no less than 50 cents.
Cash advance fees are either 3% of the transaction amount or $5, whichever is more. Of note, there is a maximum possible charge of $50 for each cash advance transaction you may initiate. Balance transfer transactions will cost you a fee of the greater between $5 and 3% of the transaction amount. Again, the maximum possible fee is $50. And there are never any fees for annual membership, foreign transactions or for going over your credit limit. All nice features indeed. For full disclosure of all financial details, please visit the website.
The issuers of the HSBC Premier World MasterCard claim that it’s the best-in-class for rewards cards that cater to those who value travel and mileage points best. Maybe that’s true. They promise a load of exceptional possibilities to benefit from world-class dining experiences, the most amazing entertainment venues, elite fashion opportunities and the finest customer care available. That’s definitely a big plus in itself as so many card review websites are flooded with customer complaints; many of them centered on poor customer care. That’s not the case here. People love these cards and keep them for life. If you have the assets required to get approved for this card, then it’s going to be tough to find a more attractive one overall.