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HSBC World Elite® Mastercard® Review

HSBC

Aug 19, 2021 6 min read

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    With border restrictions loosening up in Canada and across the globe, you’re probably eager to make some globe-trotting travel plans.

    Looking for ways to earn travel points for your next big adventure? With the HSBC World Elite® Mastercard®, you can earn up to 70,000 HSBC Rewards points and have your annual fee waived on your first year if you apply by September 27, 2021. That’s a value of $499 you could use towards your post-pandemic travel plans! 

    With HSBC, you’ll also receive additional perks and benefits to support your future traveling needs, including comprehensive insurance coverage, credit for additional travel enhancements, and no foreign transaction fees. 

    Keep reading to learn more about the perks and benefits you can receive from the HSBC World Elite Mastercard.

    Overview and Key Features

    The HSBC World Elite Mastercard is a travel rewards card that’s best suited for frequent fliers who have a healthy budget to spend each month. You can earn 6 HSBC Rewards points for every $1 spent on eligible travel purchases. These travel purchases may include:

    • Airline tickets

    • Car rentals

    • Hotel stays

    • Train tickets

    • Tour operator purchases

    • Travel agency purchases

    You’ll also earn 3 points per $1 spent on all other eligible purchases. You can use your points towards travel, gift cards, merchandise, rewards for miles, and other financial rewards. Here’s an overview of the rates, fees, requirements, and perks of the HSBC World Elite Mastercard:

    FeatureValue
    APR19.9%
    Feature: APR
    Value
    19.9%
    Cash Advances & Bank Transfers22.9%
    Feature: Cash Advances & Bank Transfers
    Value
    22.9%
    Annual Fee$149
    Feature: Annual Fee
    Value
    $149
    Welcome BonusUp to 70,000 HSBC Rewards Points, annual fee waived first year
    Feature: Welcome Bonus
    Value
    Up to 70,000 HSBC Rewards Points, annual fee waived first year
    Individual Income Requirement$80,000
    Feature: Individual Income Requirement
    Value
    $80,000
    Household Income Requirement$150,000
    Feature: Household Income Requirement
    Value
    $150,000

    Have more questions about the HSBC World Elite Mastercard? We’ve answered the top questions that you might have about this travel rewards card.

    How much is HSBC’s welcome bonus worth?

    HSBC’s current welcome bonus is worth up to 70,000 points, plus a rebate on your first year annual fee. This adds up to a $499 value in your first year! Here’s a breakdown of how you can earn these points if you apply by September 27, 2021.

    • Earn 20,000 points ($100 value) when you make your first eligible purchase

    • Earn 20,000 points ($100 value) when you spend $5,000 in the first 180 days of opening your card

    • Earn 20,000 points ($100 value) on the 1-year anniversary of opening your card

    • Earn 10,000 points ($50 value) when you add an Authorized User to your card

    • Get an Annual Fee Rebate ($149 value) on your first year

    This welcome bonus offer is only available to Canadian residents outside of Quebec. 

    How do I redeem HSBC Rewards Points?

    You can redeem HSBC Rewards Points in three main ways:

    1. Redeem points towards travel purchases

    2. Redeem points towards HSBC financial products

    3. Purchase merchandise from the HSBC Rewards shop

    You can redeem points for credit towards eligible travel purchases charged to your HSBC card, including flights, hotel stays, vehicle rentals, and more. To do so, you must redeem the points within 60 days of the travel purchase and after the charge has been posted to your credit card account. The easiest way to apply reward points towards your credit card charges at the specified value is online, but you can also call and speak to an HSBC customer care representative. 

    You can also use points to pay down balances on your HSBC Mastercard or mortgage accounts. If you have an HSBC personal savings account, you can also add money to your savings account with points.

    In addition, you can use HSBC Rewards Points to purchase a wide range of merchandise, gift cards, and products from the HSBC Rewards Shop. The shop offers over a hundred types of electronics, equipment, and gift cards from trusted brands and popular retailers.

    What additional perks are there from the HSBC World Elite Mastercard?

    Here are some other great perks and rewards you can gain from the HSBC World Elite Mastercard. These perks can enhance your travel experience, help you save money, and provide you and your family with peace of mind through comprehensive insurance coverage.

    $100 annual travel enhancement credit

    Traveling can come with spontaneous moments to upgrade your experience. If you’re looking to upgrade your airline seats, pay additional baggage fees, or get an airport lounge pass, you can charge these costs to your HSBC World Elite Mastercard and redeem up to $100 to cover these charges. This $100 travel enhancement credit will automatically renew on your credit card anniversary date.

    Mastercard Airport Experiences Provided by LoungeKey

    Looking to upgrade your travel experience with airport lounges? Your HSBC World Elite Mastercard provides you with free membership to Mastercard Airport Experiences, provided by LoungeKey. With this perk, you'll gain access to airport lounges across the globe. You’ll need to pay USD$32 per person for each airport lounge visit, but you can cover these visits with the travel enhancement credit mentioned above.

    10% savings on hotel bookings with Expedia and Agoda

    Looking to save on your hotel bills? You can save 10% when you use your HSBC World Elite Mastercard to book hotel stays directly through the HSBC Expedia and Agoda websites.

    Emergency Travel Medical Insurance and Other Coverage

    With the HSBC World Elite Mastercard cardholder, you, your spouse, and dependent children traveling with you will have emergency travel medical insurance, up to a maximum of $1,000,000 per insured person. You are covered for up to 31 days per trip each time you travel. Other types of insurance coverage are available to you at no extra charge. These types of coverage include:

    • Baggage Delay or Loss Insurance

    • Trip Cancellation Insurance 

    • Trip Interruption/Delay Insurance

    • Car Rental Insurance

    • Purchase Assurance and Extended Warranty Insurance

    Enjoy peace of mind while traveling with comprehensive insurance coverage as an HSBC Mastercard holder.

    No foreign transaction fees

    If you’re eager to make purchases while you’re abroad, the HSBC World Elite Mastercard can help you save money with no foreign transaction fees. Unlike other credit cards that may charge fees for foreign currency purchases, this card doesn’t charge any conversion charges, even for online purchases. Only the exchange rate will apply.

    Who is eligible for the HSBC World Elite Mastercard?

    To be eligible for the HSBC World Elite Mastercard, you must meet the following requirements:

    • Be a Canadian resident

    • Be the age of majority in your province of residence

    • Have an annual individual income of $80,000 or $150,000 combined household income, OR have a minimum of $400,000 in assets under management

    What’s the deadline for HSBC’s welcome bonus?

    To receive HSBC’’s welcome bonus of up to 70,000 points, you need to apply by September 27, 2021. If you apply after this date, you won’t be eligible for the welcome bonus.

    How do I apply for the HSBC World Elite Mastercard?

    Click the link below to apply online for the HSBC World Elite Mastercard. HSBC EasyID verifies your identity instantly to make the application process quick and seamless. Ensure you have one of the following pieces of I.D. ready:

    • Passport

    • Driver’s Licence

    • Provincial government-issued I.D.

    You can also book an appointment with any HSBC branch to speak with a relationship manager and apply for the HSBC World Elite Mastercard.

    Are you eager to start travelling again? HSBC can help you travel safely and in style. The HSBC World Elite Mastercard offers solid travel perks and comprehensive insurance coverage, so that you can globe-trot safely while saving money.

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    HSBC is a leading international bank that's been established in Canada for over 40 years. HSBC offers personal banking solutions, including chequings and savings accounts, credit cards, loans, and mortgages. They also offer wealth management and small business banking solutions.

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