HSBC Premier World Elite MasterCard
Updated September 21, 2019.
The Facts
The Math
The $100 annual airline credit could be deemed as an effective annual fee reducer, while the $100 Uber/Lyft won't be as easy to take full advantage of. With an effective annual fee of $295, this card offers an additional 2.5% for travel and 1% for dining compared to our benchmark cashback cards such as Citi DoubleCash or Fidelity Visa, and a suite of travel perks such as airport lounge access, privileges at luxury hotels, 10% discount at Expedia | Agoda | onefinestay, $100 Uber/Lyft credits, etc.
HSBC Premier WEMC vs. Chase Sapphire Reserve: Sapphire Reserve seems $55 more expensive in annual fees; however, after considering annual travel credits on both cards, it is actually $145 cheaper in effective annual fees ($150 vs. $295). Even if you take the $100 Uber/Lyft credit as an annual fee reducer, Sapphire Reserve is still less expensive. Our current valuation of both programs is the same at 1.5 cents a piece; however, Chase does have much more transfer partners. Their rewards structures and perks are pretty similar. With that, Sapphire Reserve offers one additional point for dining, better airport lounge program (unlimited access vs. two free visits), arguably better hotel benefits (Chase LHRC & Visa Infinite Collection & Relais Chateaux vs. MasterCard Collection & 10% Expedia/Agoda/onefinestay discount), and better travel and consumer protection. The bottom line: a fine card as it is, HSBC Premier WEMC won't be able to challenge Sapphire Reserve as one of the top high-end cards.
To see how HSBC Premier WEMC competes with other cards with similar annual fees, please check out our featured review Comparing High-end Cards covering Amex Platinum Card, Amex Delta Reserve, Amex Hilton Aspire, Amex Marriott Brilliant, Chase Sapphire Reserve, Chase United MP Club, Citi Prestige, Citi AA Executive, U.S. Bank Altitude Reserve, CNB Crystal, HSBC Premier WEMC, and MasterCard Black Card.
The Conclusions
HSBC Premier WEMC is a fine high-end card, as long as you have a HSBC Premier checking account to qualify. However, there are quite a few excellent high-end cards to consider before you go all in with HSBC Premier.
The Facts
- Annual Fee: $395 for primary cardholder and $65 for each authorized user
- Signup Bonus: 50,000 points ($750 in airfare through HSBC) after spending $4,000 within 3 months of new account opening. NOTE: you must have an existing U.S. HSBC Premier checking account for qualify for this credit card. HSBC Premier checking account has a monthly fee of $50, waived if your combined deposit & investment balance exceeds $75,000 OR if you have recurring direct deposits totaling at least $5,000 per month OR if your original mortgage amount through U.S. HSBC exceeds $500,000.
- Application Landing Page
- Rewards: 3x travel, 2x dining, and 1x everywhere
- Best Use of HSBC Rewards points: you may redeem points using the following options: (1) for cash, merchandise, gift cards, charity at up to 1 cent per point, (2) for airfare through HSBC at a fixed value of 1.5 cents per point when you redeem at least 20K points at once, (3) transferring points to miles of airline partners at 1:1 (British Airways, AeroMexico, Singapore Airlines, Jet Airways). Please see other more popular programs that allow miles/points transfer to frequent traveller programs in our featured review Marriott vs. MR vs. UR vs. TY vs. CR.
- Benefits: (1) $100 annual airline credits for purchases charged by airline, including airfare and incidentals. (2) Up to $100 annual Uber/Lyft credits (reimbursement is limited to $20 each time). (3) Complimentary Lounge Key membership with two free visits ($32 per visit thereafter). Lounge Key membership offers access to more than 1,000 airport lounges worldwide and up to 15% savings at participating airport retailers. (4) 10% discount for hotels booked through Expedia or Agoda. (5) $85 reimbursement for TSA PreCheck application fees every four years. (6) Waived foreign transaction fees with an embedded EMV chip.
- World Elite MasterCard Benefits: MasterCard Luxury Hotels & Resorts (a collection of 2,000+ luxury hotels worldwide that offer complimentary breakfasts for two, room upgrades upon availability, early check-in, late check-out, and a special amenity such as a certain amount of hotel credit up to $100 per stay, free internet, or welcome gift, etc.), MasterCard Travel & Lifestyle Services (savings on airfare, private jets, airport concierge, car rentals, chauffeured cars, cruise lines, tours, vacation packages, etc.), complimentary ShopRunner membership (free two-day shipping and returns at participating stores), 10% discount with onefinestay (high-end home sharing service), monthly $10 Lyft credit after five rides each month, double Fandango points for movie tickets ($5 for every two tickets purchased), 5% rewards for Boxed purchases, $5 off every order of $25 or more on Postmates, the Dining Program (special amenities at participating restaurants), the Nightlife Program (exclusive access to and recognition at participating night clubs), Priceless Cities, Priceless Surprises, Priceless Causes, Priceless Golf, MasterCard Cellular Wireless Telephone Protection (up to $800 for a stolen or damaged phone as long as you charge your monthly cellphone bills to the card), MasterCard ID Theft Protection, etc.
- Other Facts: (1) This card has a metal design and weighs around 16 grams, about three times as heavy as regular plastics. (2) Don't confuse this card with HSBC Premier World MasterCard (no annual fees for HSBC Premier checking account holders, 35,000 points at signup, 2x travel, rewards valued at 1.15 cents per point).
The Math
The $100 annual airline credit could be deemed as an effective annual fee reducer, while the $100 Uber/Lyft won't be as easy to take full advantage of. With an effective annual fee of $295, this card offers an additional 2.5% for travel and 1% for dining compared to our benchmark cashback cards such as Citi DoubleCash or Fidelity Visa, and a suite of travel perks such as airport lounge access, privileges at luxury hotels, 10% discount at Expedia | Agoda | onefinestay, $100 Uber/Lyft credits, etc.
HSBC Premier WEMC vs. Chase Sapphire Reserve: Sapphire Reserve seems $55 more expensive in annual fees; however, after considering annual travel credits on both cards, it is actually $145 cheaper in effective annual fees ($150 vs. $295). Even if you take the $100 Uber/Lyft credit as an annual fee reducer, Sapphire Reserve is still less expensive. Our current valuation of both programs is the same at 1.5 cents a piece; however, Chase does have much more transfer partners. Their rewards structures and perks are pretty similar. With that, Sapphire Reserve offers one additional point for dining, better airport lounge program (unlimited access vs. two free visits), arguably better hotel benefits (Chase LHRC & Visa Infinite Collection & Relais Chateaux vs. MasterCard Collection & 10% Expedia/Agoda/onefinestay discount), and better travel and consumer protection. The bottom line: a fine card as it is, HSBC Premier WEMC won't be able to challenge Sapphire Reserve as one of the top high-end cards.
To see how HSBC Premier WEMC competes with other cards with similar annual fees, please check out our featured review Comparing High-end Cards covering Amex Platinum Card, Amex Delta Reserve, Amex Hilton Aspire, Amex Marriott Brilliant, Chase Sapphire Reserve, Chase United MP Club, Citi Prestige, Citi AA Executive, U.S. Bank Altitude Reserve, CNB Crystal, HSBC Premier WEMC, and MasterCard Black Card.
The Conclusions
HSBC Premier WEMC is a fine high-end card, as long as you have a HSBC Premier checking account to qualify. However, there are quite a few excellent high-end cards to consider before you go all in with HSBC Premier.
