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HSBC Premier Credit Card
1 review

HSBC Premier Credit Card

points over 12 months Calculate your savings icon

Earn rate per $1

1 point

Capped at $10,000 per statement

HSBC Rewards Plus

Bonus points

N/A

Annual fee

$0 p.a.

Pros

No annual fee

Earn 1 HSBC Rewards Point for every dollar spent on eligible domestic purchases

Earn 1.5 HSBC Rewards Points on eligible international purchases

Domestic and International Travel Insurances

Cons

Points capped at 10,000 per statement and can be redeemed for a range of shopping, travel and merchandise rewards.

100% of customers who have rated this card would recommend it
  • Rates
    44%
  • Fees
    77%
  • Rewards
    43%
  • Customer Service
    45%
  • Value
    58%
Overall user rating 53%
1 reviews
Interest Rates
Purchase rate 19.99% p.a.
Cash advance rate 21.99% p.a.
Interest free on purchases up to 55 days
Balance Transfer
Credit limits
Minimum credit limit $15,000
Maximum credit limit N/A
Fees & repayments
Annual fee $0 p.a.
Additional cardholder fee Up to 99 - $0 p.a.
Cash advance fee 3%
Foreign transaction fee 2%
Minimum repayment 3%
Late payment fee $30
Credit card type Mastercard
Rewards program
Rewards program HSBC Rewards Plus HSBC Rewards Plus
Annual points cap 120,000
Bonus points spend criteria N/A
Earning points with this card
Rewards Plus points 1 point per $1 spent
Overseas earn rate same as standard earn rate
Points cap per month Capped at $10,000 per statement
Complimentary insurance
Overseas travel insurance yes - up to months
Flight inconvenience insurance Yes
Transport accident cover Yes
Smartphone screen insurance No
Purchase protection insurance Yes
Extended warranty insurance Yes
Rental vehicle excess cover Yes
Extras
Mastercard Airport Experiences provided by LoungeKey

HSBC Premier Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au.

The HSBC Premier Credit Card

Allowing cardholders to earn points on either the HSBC Rewards Plus program or the Qantas Frequent Flyer program, the HSBC Premier Credit Card is a flexible rewards card with some appealing extras on offer. Features include access to the home&Away Privilege Program, HSBC Instant Savings, lounge access via LoungeKey, and travel discounts with Expedia and Agoda.

What we love...

When you apply for the HSBC Premier Credit Card, you have the option to earn points on the HSBC Rewards Plus program or the Qantas Frequent Flyer program. Opting for HSBC Rewards Plus means you will pay no annual fee on the card, and you will earn:

  • 1 HSBC Rewards Point per $1 spent on eligible domestic purchases
  • 1.5 HSBC Rewards Points per $1 spent on eligible international purchases

Points are capped at 10,000 per statement period. As part of this program, you will have a number of redemption options open to you, including shopping, travel and merchandise rewards. You may also choose to transfer your points to leading airline rewards programs, including Cathay Pacific’s AsiaMiles, Virgin Australia's Velocity and Singapore Airlines’ KrisFlyer.

If you opt to earn on rewards on the Qantas program, you will pay an annual fee on the card, making it more difficult to get value back. However, if Qantas Points is what you want, this card offers an earn rate of 1 Qantas Point per $1 on eligible purchases, capped at 10,000 points per statement period.

Aside from the opportunity to earn rewards, cardholders can also access a range of features. There are quite a few of them, so let’s create a list.

  • You can take advantage of exclusive offers and privileges from 27,000 selected partners at home and overseas via the home&Away Privilege Program.
  • You can access Instant Savings with free membership to Frequent Values by Entertainment Publications, providing more than 4,500 offers at participating stores, restaurants, hotels and family attractions.
  • You can take advantage of complimentary insurance benefits, in the form of Domestic and International Travel Insurances with rental vehicle insurance excess cover, Transit Accident Insurance, Extended Warranty Insurance, Guaranteed Pricing Scheme and Purchase Protection Insurance.
  • If your card is lost or stolen, an emergency cash advance feature provides same-day card replacement and an advance of up to US$2,000.
  • You can access LoungeKey privileges, which include access to more than 1,000 lounges worldwide (a lounge fee per visit applies).
  • You can enjoy a 10% discount on selected pre-paid standalone Expedia hotel bookings and exclusive travel discounts with Agoda when you use your card.
  • You can save on interest with up to 55 day interest free on purchases when you clear your balance by the due date the previous month.

What’s not so great...

To be eligible for the HSBC Premier Credit Card, you must meet the bank’s eligibility requirements. This includes having:

  • A minimum of $500,000 in loans, or
  • A minimum of $200,000 in savings and investment, or
  • A combination of loans, savings and investments totalling a minimum of $500,000 with HSBC Bank Australia Limited.

You’ll also need to maintain an HSBC Premier Cash Management Account, for which a monthly service fee of $35 applies. Also take note of the card’s relatively high interest rate. Cardholders who carry a balance may find it hard to enjoy real value on this card.

Why should you choose this card?

If you want to earn rewards on your card spending, the HSBC Premier Credit Card provides a pretty flexible option. Choosing to earn points on the HSBC Rewards Plus program does provide better value, as cardholders pay no annual fee on the card, and are essentially earning rewards for free (although there is that monthly service fee to pay on the required partner Cash Management Account).

Cardholders can enjoy a wide range of extras on this card, making it a great choice for anyone who would make good use of these features. You can also add one additional cardholder to the account at no extra cost, which could help you to earn points faster, although the monthly cap on points still applies.

Overall Rating

The HSBC Premier Credit Card earns HSBC Rewards Points or Qantas Points, while providing some very handy extras, such as Instant Savings, LoungeKey access and insurance covers.

(showing the latest 10 Q&As)

HSBC Premier Credit Card

Key features

  • No annual fee
  • Earn 1 HSBC Rewards Point for every dollar spent on eligible domestic purchases
  • Earn 1.5 HSBC Rewards Points on eligible international purchases
  • Points capped at 10,000 per statement and can be redeemed for a range of shopping, travel and merchandise rewards.
  • HSBC Premier Rewards for Miles - choose to transfer your points to leading airline rewards programs, including AsiaMiles™, Virgin Australia's Velocity Points and Singapore Airlines' KrisFlyer.
  • Up to 55 interest-free days on purchases
  • Domestic and International Travel Insurances
  • Be over 18 years old
  • Good credit and not applied for multiple credit cards recently
  • Resident or citizen of Australia. Temporary residents are eligible.
  • You have your personal details ready to complete the online application
HSBC Premier Credit Card
HSBC Premier Credit Card

HSBC Credit Cards

HSBC Premier Credit Card

Updated 18 June 2019

Points Earn Rate (per $1 spent)

1

point

Rewards Plus

Rewards Program

HSBC Rewards Plus

Bonus Points

N/A

0 points over 12 months spend

My monthly card spend

Pros and cons

  • No annual fee
  • Earn 1 HSBC Rewards Point for every dollar spent on eligible domestic purchases
  • Earn 1.5 HSBC Rewards Points on eligible international purchases
  • Domestic and International Travel Insurances

  • Points capped at 10,000 per statement and can be redeemed for a range of shopping, travel and merchandise rewards.

Creditcard.com.au review

Editor Review

HSBC Premier Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The HSBC Premier Credit Card

Allowing cardholders to earn points on either the HSBC Rewards Plus program or the Qantas Frequent Flyer program, the HSBC Premier Credit Card is a flexible rewards card with some appealing extras on offer. Features include access to the home&Away Privilege Program, HSBC Instant Savings, lounge access via LoungeKey, and travel discounts with Expedia and Agoda.

What we love...

When you apply for the HSBC Premier Credit Card, you have the option to earn points on the HSBC Rewards Plus program or the Qantas Frequent Flyer program. Opting for HSBC Rewards Plus means you will pay no annual fee on the card, and you will earn:

  • 1 HSBC Rewards Point per $1 spent on eligible domestic purchases
  • 1.5 HSBC Rewards Points per $1 spent on eligible international purchases

Points are capped at 10,000 per statement period. As part of this program, you will have a number of redemption options open to you, including shopping, travel and merchandise rewards. You may also choose to transfer your points to leading airline rewards programs, including Cathay Pacific’s AsiaMiles, Virgin Australia's Velocity and Singapore Airlines’ KrisFlyer.

If you opt to earn on rewards on the Qantas program, you will pay an annual fee on the card, making it more difficult to get value back. However, if Qantas Points is what you want, this card offers an earn rate of 1 Qantas Point per $1 on eligible purchases, capped at 10,000 points per statement period.

Aside from the opportunity to earn rewards, cardholders can also access a range of features. There are quite a few of them, so let’s create a list.

  • You can take advantage of exclusive offers and privileges from 27,000 selected partners at home and overseas via the home&Away Privilege Program.
  • You can access Instant Savings with free membership to Frequent Values by Entertainment Publications, providing more than 4,500 offers at participating stores, restaurants, hotels and family attractions.
  • You can take advantage of complimentary insurance benefits, in the form of Domestic and International Travel Insurances with rental vehicle insurance excess cover, Transit Accident Insurance, Extended Warranty Insurance, Guaranteed Pricing Scheme and Purchase Protection Insurance.
  • If your card is lost or stolen, an emergency cash advance feature provides same-day card replacement and an advance of up to US$2,000.
  • You can access LoungeKey privileges, which include access to more than 1,000 lounges worldwide (a lounge fee per visit applies).
  • You can enjoy a 10% discount on selected pre-paid standalone Expedia hotel bookings and exclusive travel discounts with Agoda when you use your card.
  • You can save on interest with up to 55 day interest free on purchases when you clear your balance by the due date the previous month.

What’s not so great...

To be eligible for the HSBC Premier Credit Card, you must meet the bank’s eligibility requirements. This includes having:

  • A minimum of $500,000 in loans, or
  • A minimum of $200,000 in savings and investment, or
  • A combination of loans, savings and investments totalling a minimum of $500,000 with HSBC Bank Australia Limited.

You’ll also need to maintain an HSBC Premier Cash Management Account, for which a monthly service fee of $35 applies. Also take note of the card’s relatively high interest rate. Cardholders who carry a balance may find it hard to enjoy real value on this card.

Why should you choose this card?

If you want to earn rewards on your card spending, the HSBC Premier Credit Card provides a pretty flexible option. Choosing to earn points on the HSBC Rewards Plus program does provide better value, as cardholders pay no annual fee on the card, and are essentially earning rewards for free (although there is that monthly service fee to pay on the required partner Cash Management Account).

Cardholders can enjoy a wide range of extras on this card, making it a great choice for anyone who would make good use of these features. You can also add one additional cardholder to the account at no extra cost, which could help you to earn points faster, although the monthly cap on points still applies.

Overall Rating

The HSBC Premier Credit Card earns HSBC Rewards Points or Qantas Points, while providing some very handy extras, such as Instant Savings, LoungeKey access and insurance covers.

User reviews

HSBC Premier Credit Card ( based on 1 Creditcard.com.au user review )

53% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates

Purchase rate 19.99% p.a.

Cash advance rate 21.99% p.a.

Interest free on purchases up to 55 days

Credit limits

Minimum credit limt $15,000

Maximum credit limit N/A

Fees & repayments

Annual fee $0 p.a.

Additional card holder fee Up to 99 - $0 p.a.

Foreign transaction fee 2%

Minimum repayment 3%

Cash advance fee 3%

Late payment fee $30

Rewards and points

Rewards program

Rewards Program HSBC Rewards Plus HSBC Rewards Plus

Bonus points N/A

Annual points cap 120,000

Bonus points spend criteria N/A

Earning points with this card

Rewards Plus pointsRewards Plus points 1 point per $1 spent

Points cap per month Capped at $10,000 per statement

Overseas earn rateOverseas earn rate same as standard earn rate

Additional features

Complimentary insurance

Overseas travel insurance yes

Flight inconvenience insurance Yes

Transport accident cover Yes

Smartphone screen insurance No

Purchase protection insurance Yes

Extended warranty insurance Yes

Rental vehicle excess cover Yes

Extras

Mastercard Airport Experiences provided by LoungeKey

Overview

HSBC Premier Credit Card

Key features

  • No annual fee
  • Earn 1 HSBC Rewards Point for every dollar spent on eligible domestic purchases
  • Earn 1.5 HSBC Rewards Points on eligible international purchases
  • Points capped at 10,000 per statement and can be redeemed for a range of shopping, travel and merchandise rewards.
  • HSBC Premier Rewards for Miles - choose to transfer your points to leading airline rewards programs, including AsiaMiles™, Virgin Australia's Velocity Points and Singapore Airlines' KrisFlyer.
  • Up to 55 interest-free days on purchases
  • Domestic and International Travel Insurances

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Resident or citizen of Australia. Temporary residents are eligible.

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

(showing the latest 10 Q&As)

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