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:
Travel
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.
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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.
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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).
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Priority airport services
No
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Airport lounge access
Yes
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Concierge service
No
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Balance protection(Optional)
No
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Purchase Security & Extended Protection Insurance
Yes
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Flight delay insurance,Baggage Insurance
Yes
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Vehicle rental insurance
Yes
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Travel accident insurance
Yes
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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
Travel benefits
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$100 annual travel enhancement creditRedeemable towards select airline seat upgrades, airline baggage fees and airport lounge passes.
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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 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.
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.
* You can receive a rebate on the HSBC World Elite Mastercard annual fee depending on your client status: HSBC Private clients receive a $149 rebate; HSBC Premier clients receive a $50 rebate; and HSBC Advance clients receive a $25 rebate. You’ll receive the annual fee rebate on the date the credit card annual fee is charged, if you’re i) an HSBC Private, Premier or Advance client, and ii) the primary cardholder of the HSBC World Elite Mastercard. This rebate does not apply to supplementary card fees or other charges applicable to the credit card account. For full details, see HSBC Credit Card Annual Fee RebateHSBC Credit Card Annual Fee Rebate This link will open in a new window.
1 "Offers" refer collectively to the “Welcome Bonus”, “Additional Bonus”, and “Annual Fee Rebate”.
Eligibility: Offers only apply to approved HSBC World Elite Mastercard accounts for applications received between September 1, 2023 and September 29, 2023. Only one new account per customer is eligible for these Offers.
The following applicants are not eligible for any of the Offers:
• Applicants who have held an HSBC World Elite Mastercard, HSBC Premier World Elite Mastercard or HSBC Metal World Elite Mastercard account in the 12 months before submitting the application
• Applicants switching from an existing HSBC credit card
Offers may be changed, withdrawn or extended at any time without notice and cannot be combined with any other HSBC credit card offers, except offers stating that they can be combined with other HSBC credit card offers. The HSBC World Elite Rewards Program Terms and ConditionsHSBC World Elite Rewards Program Terms and Conditions This link will open in a new window apply. Account opening is subject to eligibility requirements and credit review and approval.
Welcome Bonus: The Welcome Bonus of 20,000 points will be awarded when you make the first purchase on your HSBC World Elite Mastercard account following account opening. The Welcome Bonus will be credited in accordance with the HSBC World Elite Rewards Program Terms and ConditionsHSBC World Elite Rewards Program Terms and Conditions This link will open in a new window. Limit of one Welcome Bonus per new HSBC World Elite Mastercard account.
Additional Bonus: If you’re not a resident of Quebec, you can receive the additional 30,000 points if you make eligible Net Purchases of $1,000 or more within 60 days of opening your account. “Net Purchases” means the total amount of your eligible purchases minus the total amount of returns you make (or similar credits applied to your account). If you are a resident of Quebec, you can receive the additional 60,000 points if you keep your account open, active and in good standing for 60 days from your account opening. The additional points are in addition to the points earned on the eligible purchases at the earn rate listed in the HSBC World Elite Rewards Program Terms and ConditionsHSBC World Elite Rewards Program Terms and Conditions This link will open in a new window. The additional points will be awarded approximately 60 days after account opening and credited in accordance with the HSBC World Elite Rewards Program Terms and ConditionsHSBC World Elite Rewards Program Terms and Conditions This link will open in a new window. The points will appear in your HSBC Rewards Account within two statement periods of the day they are awarded. Your account must be open and in good standing on the day the additional points are credited.
Annual fee rebate: The first annual fee rebate for the primary cardholder is only available to residents of Canada other than the province of Quebec. This rebate applies for the first year only. A one-time rebate will apply in the amount of the annual fee charged to your HSBC World Elite Mastercard account for the Primary Cardholder in the first year, minus any other rebate of the annual fee you receive. No credit will be issued for any supplementary card fees on your account. This rebate will appear as a credit against the annual fee within two statement periods of account opening. Your HSBC World Elite Mastercard account must be open and in good standing at the time the rebate is applied.
2 The term "foreign transaction fees" is a substitute for Foreign Currency Conversion charges.
3 Earn 6 points on every $1 of eligible travel purchases, up to a maximum of $50,000 in eligible travel purchases charged to your HSBC World Elite Mastercard in a calendar year. After reaching $50,000 in eligible travel purchases, you will earn 2 points on every $1 of eligible travel purchases. Refer to the HSBC World Elite Rewards Program Terms and Conditions for complete details. Points earned on eligible travel purchases can be redeemed for rewards valued at up to 3% of the amount spent to earn them. For example, $5,000 in eligible travel purchases earns you 30,000 Points, which can be redeemed for travel rewards valued at $150. Other rewards that require 30,000 Points for redemption may be valued at less than $150. Redemption offers may change from time to time.
4 Eligible travel purchases mean eligible purchases made from merchants that are classified in the Mastercard network as airlines, car rental agencies, hotels, cruise lines, passenger railways, tour operators, timeshares and travel agencies. Some merchants may sell travel services but are classified in another manner, therefore, purchases from such merchants are not considered to be eligible travel purchases.
? Gas, Grocery and Drugstore Purchase means a purchase at merchants that are classified in the Mastercard Network as grocery stores, supermarkets, service stations or drugstores and pharmacies. While some merchants may sell gas, grocery or drugstore products/services, or are located on gas, grocery or drugstore premises, if these merchants are classified in another manner, they are not treated as “Gas, Grocery and Drugstore Purchases”.
6 Eligible purchases means the amount of purchases of goods and services that are charged to your Account except for quasi-cash transactions (which include purchases of wire transfers, travellers cheques, foreign currency, money orders, payment of an existing debt, bets, lottery tickets and gaming chips) less any credits for returns, rebates or adjustments. Cash advances (including balance transfers and cheques), optional services, interest charges or fees do not qualify as eligible purchases. See the HSBC World Elite Mastercard Cardholder Manual for further details.
7 Learn more about these new benefits, and their restrictions, conditions and availability herehere This link will open in a new window.
8 The $100 Travel Enhancement Credit is automatically available when your card is first issued and will be renewed annually on the anniversary of your Account, provided your Account is in good standing. It can be redeemed toward eligible airline baggage fee, airline seat upgrade or airport lounge pass purchases made on the Account. The Travel Enhancement Credit is available for one year from the date it was made available or renewed, and must be redeemed within 60 days from the date the eligible travel purchase is posted on your Account. At each anniversary of your Account, any portion of the Travel Enhancement Credit for which you did not submit a redemption request will expire and will not be carried over to the following year.
9 Insurance coverage is underwritten by American Bankers Life Assurance Company of Florida (ABLAC) and/or American Bankers Insurance Company of Florida (ABIC). ABLAC, ABIC, their subsidiaries and affiliates, carry on business in Canada under the name Assurant®. ®Assurant is a registered trademark of Assurant, Inc. Details of coverage, including definitions, benefits, limitations, and exclusions, are in the Certificate of Insurance provided in your Cardholder Manual.
10 Travel Assistance Services may not be available in countries of political unrest and such countries may from time to time be determined to be unsafe and/or inaccessible.
11 Apple, the Apple logo, Apple Pay, Apple Watch, Face ID, iPad, iPhone, iTunes, Mac, Safari, and Touch ID are trademarks of Apple Inc., registered in the U.S. and other countries. iPad Pro is a trademark of Apple Inc.
12 Zero Liability applies to purchases made in the store, over the telephone, online or via a mobile device and ATM transactions. We will not hold you responsible for unauthorized use if: 1. You have used reasonable care in safeguarding your Card and any related information, including Personal Identification Number (PIN) or password, and have not contributed to any unauthorized use of your Card, PIN, Account number or Cheques; and 2. You report to us any actual or suspected loss, theft or unauthorized use of your Card, PIN, Account number or Cheques immediately after becoming aware of it.
13 The service is limited to up to four devices.
14 All rewards offered are subject to the current Terms and Conditions of the HSBC World Elite Rewards Program. There are a minimum number of Points required for redemption, which vary by reward. Some restrictions apply. For information on redeeming Points, visit rewards.hsbc.carewards.hsbc.ca This link will open in a new window. Redemption offers may change from time to time.
Author Bio
Mohamed Konate is a personal finance expert and blogger with years of experience in the Canadian financial industry. As a former financial services professional at major institutions, he developed a deep understanding of the financial challenges facing everyday Canadians. Passionate about helping others achieve financial success, Mohamed shares his insights and knowledge on this blog. He holds a Bachelor and a Master in Business Administration from universities in Quebec.
