Everything You Wanted To Know About HSBC World Elite® Mastercard®

The HSBC World Elite® Mastercard® is best-known for its wide selection of travel benefits for a lower annual fee than other premium credit cards. However, to avail yourself of the services of this card, you must be an eligible HSBC premier checking customer. Most credit card issuers offer premium travel cards, and HSBC is no exception. The HSBC World Elite® Mastercard® benefits such as airfare, travel insurance, lounge access, hotel discounts, and rideshare credits.  

Let us learn about the pros and cons of the HSBC World Elite® Mastercard®.  

Pros   

• Competitive bonus offer  
• $100 annual airline credit and other travel benefits  
• Cell-phone protection  

Cons   

• Requires a qualifying HSBC Premier account  

Pros explained:

Competitive bonus points 

The new HSBC cardholders can earn up to 50,000 on the $4,000 of traction from their new HSBC card in the first three months. The offer is worth around $750 when redeemed for airfare.  

Generous annual airline credit and other travel benefits- Like other luxury travel cards, the HSBC World Elite® Mastercard® offers a range of travel benefits. The card offers a $100 annual statement that a cardholder can use for air travel spending. Another $100 annual statement credit for cab rides with Lyft and Uber (up to $20 per ride) also offers $1 million in travel insurance coverage.  

Cell-phone protection 

If using the HSBC Premier World Elite Mastercard to pay your phone’s monthly bill, you will get $800 for cell phone protection. The cardholder can make two claims within 12 months of up to a maximum of $1,000 per covered card. This policy covers theft, not an unexplained loss of the phone.  

Cons explained:

Requires an eligible HSBC premier account membership- To avail yourself of all these benefits, be a qualifying member of the HSBC premier account, and the requirements are strict. Maintain a combined balance of $75,000 between investment and personal accounts. You should make $5,000 in direct deposits every month.  

American Express credit card  

American Express credit card is another targeted credit card among frequent travelers. The card offers a range of rewards and travel benefits, making it suitable for covering your travel expenses.  

Annual Fee- The yearly fee for first-time credit card holders is 1,000 plus applicable taxes. After the completion of the first year- 4,500 plus charges, the bank will apply.  

Reward earn rate- A cardholder will be eligible to earn one membership rewards point for every 5- spent, except transactions for insurance, fuel, cash transactions, and utilities.  

Key benefits:

Bonus membership rewards   

A cardholder can earn up to 1,000 bonus membership rewards if you use a card four times on transactions of 1000 and above every month.  

Monthly spend milestone   

American Express membership rewards credit card offers additional membership benefit rewards of around 1,000 by simply spending 20,000 or more monthly.  

Additional rewards on card renewal   

You can earn 5,000 membership rewards points on first-year card renewal. Points will reflect within 90 days (about 3 months) of card renewal.  

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