The HSBC World Elite® Mastercard® is a modern rewards card that is quite useful for any clients who are using their credit cards for any type of purchase. With this card, you can get 6 points for every $1 you spend on eligible travel purchases, 3 points per $1 spent on all other eligible purchases.
This card also comes with no foreign transaction fees, 31-day emergency travel medical insurance coverage, a 10% discount on hotel bookings, unlimited Wifi through Boingo, extended warranty, purchase assurance, and $100 travel enhancement credit.
The HSBC World Elite® Mastercard® costs $149 a year and comes with a standard interest on purchases of 19.9% and interest on balance transfers and cash advances of 22.9%.The current Welcome Bonus is 20,000 Points ($100 travel value) PLUS apply by January 31, 2022 and get an additional 50,000 Points ($250 travel value) when you spend $6,000 in the first 180 days of account opening*, and get a 1st Year annual fee rebate for Primary Cardholder*($149 value), earn 10,000 Points ($50 travel value) for adding your 1st Authorized User*, and receive an additional 20,000 Points ($100 travel value) as an Anniversary Bonus*
You can use all points accumulated on this card to purchase airplane tickets to the airline partners of HSBC, which are British Airways, Singapore Miles and Asia Miles. As for medical travel insurance, this card is one of the absolute best, coming with $1 million in medical insurance, $500,000 in common carrier travel insurance, $750 for lost or delayed baggage, $5,000 trip cancellation in total, and another $65,000 in auto rental collision insurance.
How to redeem HSBC rewards points
You can track your rewards and make a redemption by logging into HSBC’s website or by calling 1-866-611-4722. HSBC rewards points can be redeemed for travel, experiences, merchandise or personal finances. A breakdown of each category can be found below.
How to get the most out of your HSBC rewards?
- Travel and experiences. Use your points to purchase airline tickets, vacation packages, car rentals, hotels, cruises, train tickets or tours. There are no blackout dates or seat restrictions. If you prefer to book through a travel agent other than HSBC, you can complete the purchase and have the amount refunded via HSBC points. However, you must make the claim within 60 days of the purchase date and you must secure the booking using your HSBC credit card.
- From products to charitable donations to gift cards, the HSBC rewards catalogue has something for everyone.
- Personal finances. Put your points towards your finances to reduce the burden. Rewards can be used to pay down your mortgage, add to your savings account or pay down your credit card balance.
The value of a HSBC point varies immensely depending on what you choose to make a redemption for. The value of each point is estimated below based on rewards type.
- 57 cents per point for experiences
- 5 cents per point for travel
- 47 cents per point for gift cards
- 42 cents per point for merchandise
- 3 cents per point for statement credits
As you can see, members obtain the most financial value when redeeming on travel and experiences. The least financial value is obtained when using points for personal finance purposes.
Keep in mind that qualitative aspects of the loyalty program should be considered when making a redemption too. If you receive the greatest intrinsic value when redeeming for merchandise, then you should use your points for that. After all, the program is for your personal benefit, use it for that purpose!
Do HSBC rewards points expire?
So long as your account is in good standing, your points will never expire. Keep in mind that HSBC, like many other loyalty program hosts, have the right to cancel your rewards at any time. A common reason they would cancel your rewards is if you continuously failed to make payments on your account.
Can I transfer my HSBC rewards points?
It is possible to transfer HSBC rewards to another loyalty program. However, you must have an eligible credit card and the program you want to transfer to must be affiliated with HSBC.
Only the World Elite Mastercard, Premier World Elite Mastercard and Premier World Mastercard allow for point transfers. Asia Miles, KrisFlyer Miles and British Airway Executive Club are affiliated frequent flyer programs. Unfortunately, popular travel loyalty programs, such as Aeroplan and WestJet Rewards, are not compatible. The rate of transfer is as follows:
How do I check my HSBC rewards points balance?
- 25,000 HSBC points to 8,000 Asia Miles
- 25,000 HSBC points to 9,000 Singapore Krisflyer Miles
- 25,000 HSBC points to 10,000 British Airways Avios
You can check your HSBC points balance using one of the following options:
Do HSBC rewards points cover taxes and fees?
- Check your monthly statement.
- Log into HSBC’s Personal Internet Banking portal (if you’re registered)
- Log into HSBC’s Mastercard Online Access portal (if you’re registered)
- Call HSBC at 1-866-688-4722 and inquire about your balance.
The answer is likely yes. It does not say anywhere in the terms and conditions that points cannot be used to cover taxes and fees. This communicates that points can be put towards taxes and fees. In addition, members can make a travel-based purchase and have the full amount, which would include taxes and fees, refunded using HSBC points.
Are HSBC rewards points subject to blackout dates or seat restrictions?
No, there are no blackout dates or seat restrictions.
How do I earn HSBC rewards faster?
You can earn HSBC rewards faster by spending more on your HSBC credit card or by upgrading to a credit card that earns points at an accelerated rate.