HSBC World Elite® Mastercard® Review 2021
Earn up to 100,000 Points* ($500 travel value) PLUS a full annual fee rebate for the Primary Cardholder for the first year ($149 value). Must apply by January 31, 2022. Conditions Apply.
• Welcome Bonus of 20,000 Points ($100 travel value)
• Spend $6,000 in the first 180 days to earn an additional 50,000 Points ($250 travel value)
• Earn 10,000 Points ($50 travel value) for adding your 1st Authorized User
• Receive an additional 20,000 Points ($100 travel value) as an Anniversary Bonus
• Annual Fee Rebate for the Primary Cardholder for the first year ($149 value)
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.
No foreign transaction feesSave 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 ProgramEarn 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
- Vehicule rental insurance Yes
- Travel accident insurance Yes
- Travel medical insurance Yes
- 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
$100 annual travel enhancement creditRedeemable towards select airline seat upgrades, airline baggage fees and airport lounge passes.
31-day insurance coverageWorldwide 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.
Connect up to four devices at airports, hotels and popular places around town
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.
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.
HSBC World Elite® Mastercard®
Rates and Fees Information Box
|Annual Interest Rates||
These interest rates are in effect on the day your HSBC Mastercard account (“Account”) is first issued.
Late or Missed Payments
If you do not pay the Minimum Payment in full by the due date on your Account statement two billing periods in a row (the “first” and “second” billing periods), your interest rates in effect at the end of the third billing period will increase by 5% per year. The increased rates will apply on the first day of the fourth billing period and will continue to apply until you qualify for a rate decrease.
If you pay the Minimum Payment in full by the due date on your account statement six months in a row (the “first” through “sixth” billing periods), your previously increased rates in effect at the end of the seventh billing period will decrease by 5% per year. The decreased rates will apply on the first day of the eighth billing period.
|Interest-free Grace Period||
You will benefit from an interest-free grace period on new Purchases and fees of at least 21 days if you pay off your balance in full by the due date.
There is no interest-free period on Cash Advances including Quasi-cash transactions, Balance Transfers and Cheques.
Interest begins to accrue on Purchases, Cash Advances including Quasi-cash transactions, and fees from the date of the transaction and on Balance Transfers and Cheques from the date posted.
Your minimum payment is the greater of $10 and 5% (if you reside in Quebec) or 3% (if you reside outside Quebec) of the total outstanding amount (rounded to the next dollar), plus all past due amounts and amounts over your credit limit. If the total outstanding amount is less than $10, then the Minimum Payment is equal to the total outstanding amount.
|Foreign Currency Conversion||
We will bill you in Canadian currency if you use your Account to make transactions in foreign currency. If you make (or return) transactions in a foreign currency, we convert the amount to Canadian dollars at the benchmark foreign currency exchange rate determined by Mastercard that is in effect and that we must pay on the date we post the transaction to the Account. This rate may be different from the rate in effect on the date you made the transaction.
Primary card fee: $149
Supplementary card fee: $50 for each Authorized User on your Account. You may have up to four Authorized Users on your Account.
The annual fees will be charged on the first statement date after the card is issued (regardless of activation) and annually on the anniversary of your account.
If you add an Authorized User after your card is first issued, a pro-rated supplementary card fee will be charged on the first statement date after the supplementary card is issued (regardless of activation). The amount of the fee will be pro-rated for the number of months remaining between the day the fee is charged and the next anniversary of your account. After that, as long as the card remains issued, a $50 supplementary card fee will be charged for that card annually on the anniversary of your account.
To be charged on the date of the transaction:
To be charged on the date the transaction is posted:
To be charged on the statement date:
We may change the interest rates and fees from time to time. Please read the Cardholder Agreement for more information.
The HSBC World Elite Mastercard is a premium credit card. This means it imposes higher card acceptance costs on merchants.
Important Information about the HSBC World Elite Mastercard:
To apply for an HSBC World Elite Mastercard, you must:
- meet the eligibility requirements set by Mastercard for a premium credit card: minimum annual personal income of $80,000 or minimum annual household income of $150,000 OR minimum of $400,000 in assets under management (based on liquid, investable assets with financial institutions in Canada)
If you do not meet the above eligibility requirements or prefer a different card, you may be eligible to apply for another HSBC Mastercard which has different rates, fees and benefits. Speak to an HSBC representative or visit hsbc.ca for more information about the HSBC Mastercard that is right for you.
® Mastercard, World Elite and Cirrus are registered trademarks of Mastercard International Incorporated. Used pursuant to license.