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HSBC Premier World Mastercard (Reward Plus)
4.6
Highlights
- Choose between the HSBC Rewards Plus or HSBC Qantas Rewards programs, offering the flexibility to suit your needs.
- No annual fee on the first year, $199 p.a. afterwards.
- 0% p.a. balance transfer offer for 12 months, with a 2% transfer fee.
Pros and cons
Pros
Cons
About this credit card
Basics
Card usage
Apple Pay Enabled
Yes
Card Type
Mastercard
Gambling Transactions Allowed
No
Samsung Pay Enabled
No
Eligibility
Joint Application Accepted
No
Minimum Age
18 years
Minimum Credit Rating
Good, Very Good, Excellent
Minimum Income
$75,000.00
Temporary Residents Accepted
No
Additional cardholders
Additional Cardholders
9
Additional Card Fee Ongoing
$0.00
Credit limits
Minimum Credit Limit
$10,000.00
Maximum Credit Limit
N/A
Repayments
Interest Charged From
Purchase date
Interest Free Period
Up to 55 days on purchases
Minimum Repayment Percentage
3%
Balance transfers
Balance transfer offer
Balance Transfer Rate
0%
Balance Transfer Period
12 months
Balance Transfer Fee Percentage
2%
Balance transfer conditions
Balance Transfer From Personal Loan
No
Balance Transfer Limit Percentage
90%
Balance Transfer Revert Rate
21.99%
Rates, fees, charges
Cash advances
Cash Advance Rate
21.99% p.a.
Cash Advance Fee
$4.00
Cash Advance Fee Percentage
3%
Cash Advance Fee Threshold
N/A
Purchases
Purchase Rate Introductory Offer
N/A
Purchase Rate Introductory Period
N/A
Purchase Rate Ongoing
19.99% p.a.
Account fees
Annual Fee Initial Year
$0.00
Annual Fee Ongoing
$199.00
Dishonour Fee
$30.00
Duplicate Statement Fee
$8.00
Foreign Exchange Fee Percentage
3%
Late Payment Fee
$30.00
Rewards
Rewards program basics
Rewards Program
Rewards Plus
Rewards Program Annual Fee Initial Year
N/A
Rewards Points Expiry
36 months
Rewards points per $1 spent
Domestic Rewards Points Earn Rate
1.50
Government Rewards Points Earn Rate
N/A
Overseas Rewards Points Earn Rate
1.50
Additional perks
Insurance
Cardholder's Domestic Hotel Burglary Insurance
No
Cardholder's Extended Warranty Insurance
Yes
Cardholder's International Travel Insurance
Yes
Cardholder's Interstate Flight Inconvenience
No
Cardholder's Personal Item Theft Cover
No
Cardholder's Price Protection Insurance
No
Cardholder's Purchase Protection Insurance
Yes
Cardholder's Refund Protection
No
Cardholder's Transport Accident Insurance
Yes
Travel and lifestyle
Airport Lounge Access Included
Yes
Concierge Service Included
No
Complimentary Flight Voucher Included
No
Complimentary QFF Membership Included
No
Our review
Convenience
Customer service
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Trust
The basics
- Additional cardholders. This card allows multiple additional cardholders at no extra fee.
- Digital wallets. This card is compatible with Apple Pay, Google Pay, and Samsung Pay.
- Gambling transactions. Gambling transactions are not permitted with this card.
Rewards and benefits
- Complimentary travel insurance. This card offers complimentary international travel insurance coverage. To be eligible for the cover, the card must have been used to purchase travel-related expenses before departure. Please refer to the terms and conditions for more information about eligibility criteria and other details.
- Concierge services. The HSBC Premier World Mastercard (Reward Plus) does not offer a concierge service.
- Insurances. Cardholders get extended warranty protection, fraud protection, purchase protection insurance, price protection insurance, international travel insurance, and transport accident insurance.
- Rewards points. The HSBC Premier World Mastercard (Reward Plus) offers cardholders 1.5 points for every $1 spent in Australia and overseas. Cardholders can earn up to 10,000 points per month or 120,000 points per year on eligible purchases, with no expiry on rewards points earned. Additionally, cardholders can join either the Premier Rewards Plus program (at $199 ) or the HSBC Qantas Rewards program ($399) to enjoy further rewards benefits.
- Sign-up bonus. HSBC does not have a sign-up bonus offer on this card at the moment.
Rates and fees
- Annual fee. This card has no annual fee for the first year, then $199 per year for the Rewards Plus Program. Alternatively, enjoy the first year free and pay $399 to join the HSBC Qantas Rewards Program.
- Balance transfers. Balance transfer from other credit and store cards at the rate of 0% p.a. for up to 12 months, reverting to the standard purchase rate of 21.99% p.a.
- Cash advances. Transactions classified as cash advances will attract interest at 21.99% p.a., with interest accruing from the transaction date. The fee charged is the higher of $4 or 3% of the cash advance.
- Foreign exchange fee. A 3% fee will apply to all transactions made in a foreign currency, overseas or online.
- Interest-free period. With this card, you can enjoy up to 55 days interest-free on purchases (except cash advances) when you have paid your balance in full or made the required minimum payments.
- Purchases. There is no introductory offer on purchases with the HSBC Premier World Mastercard (Reward Plus). Purchases will be charged interest at 19.99% p.a.
Reviewed by Credit Card Compare Staff
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