HSBC World Elite® Mastercard® Review
Special offer: Earn up to 50,000 points* ($250 travel value) PLUS a full annual fee rebate for the primary cardholder for the first year* ($149 value) and receive a $100 annual travel enhancement credit*. Must apply by September 29, 2023. Conditions
Recommended Credit Score:
670 900
Average to Excellent
Welcome Bonus Value
Annual Fee
Purchase Interest Rate
Min Personal Required
HSBC World Elite® Mastercard®
My Rate Compass Rating: star star star star star_half (4.5)
Bank Name:HSBC
Network Type:Mastercard
Awards:Best Credit Card Award Winner
HSBC World Elite® Mastercard®
Welcome Bonus
Special offer: Earn up to 50,000 points* ($250 travel value) PLUS a full annual fee rebate for the primary cardholder for the first year* ($149 value) and receive a $100 annual travel enhancement credit*. Must apply by September 29, 2023. Conditions
Annual Fee
HSBC World Elite® Mastercard®
Card Details

HSBC World Elite® Mastercard® Review 2023

With the HSBC World Elite Mastercard you earn 6 points for $1 in Net Purchanses which are Travel Purchases, 4 Points for $1 in Net Purchases that are Gas, Grocery and Drugstore Purchases and 2 Points for $1 in Net Purchases, other than Travel, Gas, Grocery and Drugstore Purchases.

Save on all your fore

Special offer: Earn up to 50,000 points* ($250 travel value) PLUS a full annual fee rebate for the primary cardholder for the first year* ($149 value) and receive a $100 annual travel enhancement credit*. Must apply by September 29, 2023. Conditions apply.

o Welcome bonus of 20,000 points* ($100 travel value)
o Earn 40,000 points* when you spend $6,000 within 6 months of account opening ($200 travel value)
o Earn 20,000 points* as an anniversary bonus ($100 travel value)
o First year annual fee rebate for the primary cardholder* ($149)
o Receive a $100 annual travel enhancement credit*

Enjoy maximum flexibility and redeem your Points on your terms for:

Gift cards and valuable merchandise
Financial rewards
Rewards for miles

This offer is only available to residents of Canada other than the province of Quebec (Quebec residents eligible for separate offer)

*Terms and Conditions apply

®/TM Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to licence.

Rewards and benefits
  • No foreign transaction fees
    Save on all your foreign currency purchases (even online) with no additional foreign currency conversion charges. Only the exchange rate will apply.

  • HSBC World Elite Rewards Program
    Earn 3% in travel rewards on all eligible travel purchases(6 Points per $1) and 1.5% in travel rewards on all other eligible purchases(3 Points per $1).
  • Priority airport services No
  • Airport lounge access Yes
  • Concierge service No
  • Balance protection(Optional) No
  • Purchase Security & Extended Protection Insurance Yes
  • Flight delay insurance,Baggage Insurance Yes
  • Vehicle rental insurance Yes
  • Travel accident insurance Yes
  • Travel medical insurance Yes
Fees and Eligibility
  • Annual Fee: $149
  • Additional Card Fee: $50
  • Purchases Interest Rate: 19.9%
  • Cash Advance Interest Rate: 22.9%
  • You're a Canadian resident
  • You've reached the age of majority in your province or territory
Recommended Credit Score:
670 900
Average to Excellent
Our Rating
My Rate Compass Rating: star star star star star_half (4.5)
Rating Methodology: My Rate Compass's ratings are determined by our editorial team. Our editors rate credit cards objectively based on the benefits and features the credit card offers, interest rates, the fees, and how a credit card compares with other cards in its category. Credit card rating methodology
Editorial Guidelines: Learn more about our editorial guidelines here.
Pros and Cons

Travel benefits
  • $100 annual travel enhancement credit
    Redeemable towards select airline seat upgrades, airline baggage fees and airport lounge passes.
  • 31-day insurance coverage
    Worldwide Emergency Travel Medical insurance. Enjoy longer trips with greater peace of mind (This coverage is only available if the primary cardholder and spouse are under age 65. Please note that travel in Cuba is not covered.)

Mastercard Airport Experiences Provided by LoungeKey

Receive a complimentary membership to Mastercard Airport Experiences Provided by LoungeKey with your HSBC World Elite Mastercard, offering you access to over 850 airport lounges worldwide.Please note that there will be a charge of US$32 per person for each visit. 

Get unlimited Wi-Fi through Boingo at over 1 million hotspots worldwide

Connect up to four devices at airports, hotels and popular places around town

Editor's Review

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 to earn up to 50,000 points ($250 travel value) PLUS a full annual fee rebate for the primary cardholder for the first year($149 value) and receive a $100 annual travel enhancement credit. Must apply by September 29, 2023. Conditions apply.

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.

  • 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.

How to get the most out of your HSBC rewards?

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:

  • 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

How do I check my HSBC rewards points balance?

You can check your HSBC points balance using one of the following options:

  • 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.

Do HSBC rewards points cover taxes and fees?

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.



Author Bio

Mohamed Konate

Mohamed Konate is a personal finance expert, blogger, and marketing consultant based in Toronto. He is a former financial services professional who worked at major Canadian financial institutions for many years. He managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor's in Business Administration from the University of Quebec (Montreal) and a Master's in International Business from the University of Sherbrooke (Quebec). He is also the author of the Canadian Credit Card Guidebook.


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