HSBC Premier MasterCard Credit Card
Travel
Lounge Access
Reward Points
1st Year Fee: ₹12,000* Plus Applicable Taxes
Rewards
3% rewards on every spend
Travel
Low forex markup fee of 0.99%
Lounge Access
Unlimited lounge visits worldwide
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About HSBC Premier Credit Card
HSBC Premier Credit Card is offered only to the bank’s existing Premier Customers. The card charges a joining fee of Rs. 12,000 and a renewal fee of Rs. 20,000 from the second year onwards. With benefits focused on travel and rewards, making it a suitable choice for high spenders and frequent travellers who can maximize these benefits. The card also offers flexible reward redemption options, including a 1:1 point-to-mile conversion ratio across a wide array of airline partners and lifestyle benefits such as complimentary Taj Epicure Membership, free movie tickets, dining discounts, and more.
In certain aspects, HSBC Premier competes closely with other premium cards like HDFC Infinia and Axis Reserve, as they cater to similar spending categories. However, it faces stiff competition in terms of higher reward rates and broader lifestyle benefits offered by its rivals. With some premium cards offering reward rates as high as 4.5%, HSBC Premier’s 3% reward rate may seem less competitive.
Apart from the card’s features, HSBC Premier Account holders also get several benefits, including complimentary golf sessions and global concierge services. Overall, HSBC Premier Credit Card remains a compelling choice for those who prioritize travel and premium lifestyle benefits.
Note: This Card is not available on Paisabazaar. The content on this page is for information only. To express interest in this card, please visit HSBC Bank’s website.
Rewards & Travel Benefits
Rewards Program
- 3 reward points for every Rs. 100 spent
- Convert reward points into Airmiles at a 1:1 ratio
- Redemption against Imagine Vouchers (for Apple Product purchase) at a 1:1 ratio
Airmiles Conversion Partners: Air India’s Flying Returns, Etihad Airways, Singapore Airlines & British Airways
Travel Benefits
- Unlimited complimentary domestic lounge visits
- Unlimited complimentary international lounge visits with 8 free guest visits in a year
Other Features & Benefits
Welcome Benefits
- 12,000 Taj Experiences Gift Card
- Complimentary Taj Epicure Membership
- Complimentary EazyDiner Prime Membership
Lifestyle Benefits
- Buy One Get One offer on BookMyShow
- Up to 30% discount on dining with EazyDiner (max. discount of Rs. 1,250)
- Exclusive offers and discounts with select brands
- 1% fuel surcharge waiver at all petrol pumps
HSBC Premier Credit Card : Fees & Charges
| Fee Type | Amount |
|---|---|
| Joining Fee | Rs. 12,000 |
| Annual Fee | Rs. 20,0001 |
| Finance Charges | 2.99% p.m. (35.88% p.a.) |
| Late Payment Charges | 100% of the MAD (Min. of Rs. 250 and Max. of Rs. 1,200 p.m.) |
How well does HSBC Premier compete with leading premium cards?
Much like other premium cards such as HDFC Infinia and ICICI Emeralde Private, most benefits on the HSBC Premier Credit Card are inclined towards travel and rewards. Users can earn 3% rewards on their purchases and transfer accumulated points to miles with select airline partners at a 1:1 ratio. Unlimited lounge access and hotel benefits as a welcome gift further enhance its value for travellers. However, when compared with competitors, HSBC Premier’s reward rate is decent but not highly competitive. While Infinia and Diners Club Black offer a reward rate of 3.33%, which is only slightly higher than the HSBC Card, newer and upgraded entrants in the premium travel space may offer better value. For example, Axis Olympus and YES Marquee provide 4% and 4.5% value-back, respectively.
Before choosing, users should not only compare the reward rate but also consider the redemption options. Apart from travel, HSBC Premier also offers a 1:1 redemption rate for Apple products. Since the reward points never expire, users can put high spends, accumulate substantial rewards and redeem for significant savings. HDFC Infinia also offers the same 1:1 redemption value on Apple products as well as Tanishq.
Things to Know Before you apply
Get this card if
You frequently travel and want to avail travel benefits such as hotel memberships, lounge access, etc.
You do not have other cards offering benefits on your dining and entertainment spends
You are an HSBC Premier customer and can maintain the relationship for the long term
You prefer to redeem your accumulated reward points for partner airlines
Eligibility Criteria
Must be an HSBC Premier customer
Quarterly TRV of Rs. 40 Lakh or more
Mortgage relationship with total disbursal of Rs. 1.15 Cr or more
Corporate salary account with net monthly salary credit of Rs. 3 Lakh or more
Paisabazaar Review
What do we like about this card?
HSBC Premier is a premium credit card offering benefits across travel and lifestyle categories. The card not only provides unlimited lounge access for primary cardholders but also extends this benefit to free guest visits. Additionally, cardholders earn the same reward rate across all spends and can redeem reward points with 20+ partner airlines at a 1:1 ratio, offering flexibility to choose the airline according to their preference or requirements.
Pros
- Unlimited complimentary lounge access, along with free guest visits
- Flexible reward redemption with 20+ partner airlines at a 1:1 ratio
- Exclusive discount offers on select popular brands
- Complimentary hotel and dining memberships as welcome benefits
Cons
- Very high annual fee of Rs. 20,000 if you don’t maintain a Premier relationship
- Lower reward rate of 3% compared to some other premium cards
Conclusion
HSBC Premier Credit Card is designed for frequent travellers and high spenders who can accumulate reward points and save on travel expenses by redeeming them with partner airlines. While the card offers decent travel and lifestyle benefits, its 3% reward rate is comparatively lower than premium cards like HDFC Infinia or ICICI Emeralde Private. Overall, if you are an HSBC Premier customer and want to avail premium benefits, this credit card can be a good option.
Frequently Asked Questions
Everything you need to know about this credit card
HSBC Premier Credit Card charges a joining fee of Rs. 12,000 and an annual fee of Rs. 20,000. However, this fee is applicable only if you do not maintain a Premier relationship with the bank. If you are an HSBC Premier customer, you are exempt from paying the annual fee for this credit card.
HSBC Premier Credit Card offers unlimited complimentary domestic and international lounge visits. Additionally, the card offers up to 8 free guest visits per year.
To apply for HSBC Premier Credit Card, you must be an HSBC Premier customer. You can visit the official HSBC Bank website and apply online by submitting the required documents if you meet the eligibility criteria. Alternatively, you can visit the nearest HSBC branch and apply offline by submitting a duly filled application form.
The credit limit is determined by the bank based on various factors such as your credit score, repayment history, employment status, and more. You will be informed of your assigned credit limit once your application is approved.
To become an HSBC Premier customer, you are required to maintain: • A Quarterly Total Relationship Value (TRV) of Rs. 40 Lakh or more, OR • A mortgage relationship with a total disbursal of Rs. 1.15 Crore or more, OR • A corporate salary account with a net monthly salary credit of Rs. 3 Lakh or more
Yes, you can avail up to 30% discount on dining bills through EazyDiner. However, the maximum discount you can avail in a month is Rs. 1,250.
Footnotes
- Annual fee is waived off on meeting HSBC Premier eligibility criteria.
Click here to know More Terms and Conditions
Shruti Sharma
Shruti Sharma is a skilled content writer with a passion for simplifying personal finance for consumers. Specializing in credit cards and financial planning, she offers valuable insights that empower individuals to make informed financial choices. Through her writing, she shares practical tips and guides readers through the nuances of credit card usage.
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