HSBC Premier Credit Card: Comprehensive Overview

HSBC Premier Credit Card is designed exclusively for HSBC Premier Account holders who value a premium banking experience combined with a host of rewards and travel privileges. It provides the opportunity to earn reward points on every transaction while also offering attractive interest-free periods on purchases and balance transfers. The card allows for global usage, ensuring that wherever you travel, you remain connected with your financial needs. Additionally, the card’s design focuses on practical features such as contactless payments and digital wallet compatibility, making everyday transactions smooth and secure.

This credit card is not only a tool for spending but also a gateway to a variety of reward schemes, including shopping vouchers, airline miles conversion, and hotel stay options. The benefits are tailored to meet the demands of a modern, mobile lifestyle while maintaining the robust security standards synonymous with HSBC. With no annual fee and a suite of travel-related features, it appeals to individuals who travel frequently or value the convenience of managing their finances digitally.

Benefits

HSBC Premier Credit Card comes with a number of advantages that cater to both everyday purchases and international travel needs. Here are some of the key benefits:

Earn reward points on every purchase: For every £1 of eligible spend made in sterling, you earn 1 reward point, and for transactions in other currencies, 2 reward points per £1 are credited, making your spending work harder for you.

Interest-free periods: Enjoy 0% interest on purchases for up to 9 months after account opening and 18 months on balance transfers made within 60 days, which can help manage your cash flow effectively.

No annual fee: The card does not charge an annual fee, allowing you to enjoy premium features and benefits without the burden of extra yearly costs.

Global usability: Use your HSBC Premier Credit Card internationally on both Visa and Mastercard networks, with travel-friendly features and competitive fees when transacting abroad.

Airport lounge access: Gain access to over 1,600 airport lounges worldwide through Priority Pass, where you can relax for a modest fee per visit, subject to availability.

Digital management and contactless payments: Manage your card effortlessly via online banking or the HSBC Mobile Banking app, with the convenience of contactless payments and digital wallet integration.

Prerequisites

To be eligible for the HSBC Premier Credit Card, you need to meet the following requirements:

1. Be at least 18 years of age: Applicants must be legally recognised as adults.

2. Hold UK residency: A valid UK address is required for the application process.

3. Maintain an HSBC Premier Account: This card is exclusively available for those who already have an HSBC Premier Account, ensuring that you are already part of the premium banking community.

About HSBC

HSBC is one of the world’s largest banking and financial services organisations, with a rich history spanning over 150 years. Renowned for its global presence, HSBC has grown from a modest trading entity into a multinational bank that caters to millions of customers worldwide. The bank has consistently been at the forefront of innovation in the financial sector, balancing traditional banking values with modern digital solutions.

HSBC’s commitment to customer service is evident through its wide range of products and services, which are tailored to meet the diverse needs of its clientele. Whether it is retail banking, wealth management, or corporate financial solutions, HSBC has built a reputation for reliability and trust. Its focus on sustainability and community support further underlines its dedication to responsible banking practices, making it a respected institution in both the UK and international markets.

Who is this card for?

The HSBC Premier Credit Card is ideally suited for individuals who already enjoy the benefits of an HSBC Premier Account and are looking for a credit solution that complements their lifestyle. It is tailored for customers who frequently travel and desire an account that offers not only purchasing power but also comprehensive travel-related rewards and privileges. If you are seeking a card that integrates seamlessly with your digital life while providing exclusive rewards on spending, this card is well worth considering.

The card’s focus on travel benefits and rewards makes it particularly attractive to those who appreciate a global banking perspective. Whether you are a business traveller or someone who enjoys leisure trips abroad, the card’s features such as airport lounge access and flexible reward redemption options are designed to enhance your travel experience without the worry of an annual fee.

What rewards and programs does the card offer?

HSBC Premier Credit Card offers a versatile rewards programme that transforms everyday spending into valuable points. The reward structure is straightforward:

Earning points: Every £1 spent in sterling earns 1 reward point, while every £1 spent in foreign currencies earns 2 reward points. This dual-earning structure incentivises spending both domestically and abroad.

Redeeming points: The reward points can be converted into shopping vouchers redeemable at popular retailers such as M&S and Amazon. Additionally, points can be transformed into airline miles for a variety of carriers including British Airways, Emirates, and Qatar Airways, among others. You also have the option to use your points to cover hotel stays or even to purchase fine wines through dedicated partners.

Flexibility and variety: With several redemption options available, the card allows you to tailor your rewards to suit your personal lifestyle, whether that involves shopping, travelling, or enjoying dining experiences. The reward programme is designed to offer a balanced mix of benefits that cater to both short-term and long-term financial goals.

Initial credit limit

When you apply for the HSBC Premier Credit Card, the initial credit limit is determined based on your creditworthiness and financial profile. The representative example on the website suggests an assumed credit limit of approximately £1,200. However, the exact figure may vary depending on several factors such as your credit history and income.

Minimum credit limit: The minimum credit limit typically starts around the representative value of £1,200, ensuring that you have adequate access to funds for everyday expenses.

Maximum credit limit: The maximum credit limit is subject to an individual assessment and can be higher depending on your financial standing and creditworthiness. HSBC evaluates each application carefully to determine the appropriate level of credit.

Step by step to apply for the card

To apply for the HSBC Premier Credit Card, follow these straightforward steps:

1. Ensure you meet the prerequisites: Confirm that you are over 18, reside in the UK, and hold an HSBC Premier Account.
2. Visit the official HSBC website: Navigate to the HSBC Premier Credit Card page.
3. Register or log in to your online banking account: If you are an existing HSBC Premier customer, log on to your online banking account; if not, complete the registration process.
4. Complete the application form: Fill in the necessary details, ensuring that all information provided is accurate and up-to-date.
5. Submit your application: Once you have reviewed the details, submit your application for assessment.
6. Await confirmation: HSBC will evaluate your application based on your financial profile and eligibility, after which you will receive further instructions regarding the status of your application.

For direct access to the card application page, please use the button below:

TAP TO ACCESS THE CARD PAGE

Card’s pros’ and cons’

The HSBC Premier Credit Card comes with several advantages and some considerations that potential applicants should be aware of.

Pros:

• Attractive rewards programme: Earn reward points on every purchase and enjoy flexible redemption options that can be tailored to your lifestyle.
• Interest-free periods: Benefit from up to 9 months of 0% interest on purchases and an extended 18-month interest-free period on balance transfers, subject to a fee.
• No annual fee: Enjoy premium benefits without the burden of an annual fee, making it cost-effective for regular use.
• Global usage and digital convenience: Use the card internationally with ease and manage your account through advanced digital banking solutions.
• Travel-related privileges: Access airport lounges via Priority Pass and benefit from exclusive discounts on hotel bookings.

Cons:

• High purchase interest rate after the promotional period: The representative purchase rate stands at 23.9% p.a. (variable), which may be higher than some other credit card options.
• Balance transfer fee: Although balance transfers benefit from an extended interest-free period, they attract a fee of 2.99% per transfer, with a minimum charge of £5.
• Eligibility restricted to HSBC Premier customers: The card is only available to those who hold an HSBC Premier Account, limiting its accessibility for new customers or those with other types of accounts.
• Potential additional fees when used abroad: While the card offers global usability, non-HSBC cash machines and foreign transactions might incur additional charges.

How to unlock the card?

Once your HSBC Premier Credit Card arrives, you will need to activate it before you can begin using it. The process is straightforward: upon receiving the card, you should visit the HSBC online banking portal or use the HSBC Mobile Banking app. Follow the instructions provided to verify your identity and confirm your card details. In most cases, you may be asked to set up a personal identification number (PIN) and agree to the terms and conditions. After completing these steps, your card will be fully activated, allowing you to make purchases, earn rewards, and enjoy the travel-related benefits on offer.

Fees and tariffs

The HSBC Premier Credit Card offers a variety of exclusive benefits for Premier customers. Below are the main fees and charges associated with this card:

• Representative APR: 18.9% APR (variable)
• Interest Rates for Purchases: 18.9% per year (variable)
• Interest Rates for Cash Withdrawals: 18.9% per year (variable)
• Annual Fee: No annual fee
• Cash Withdrawal Fee: No additional fee for cash withdrawals
• Foreign Transaction Fee:  No foreign transaction fees on international purchases
• Late Payment Fee: £12 for late payments
• Over Credit Limit Fee: £12 for exceeding the credit limit
• Returned Payment Fee: £5 per returned payment

Additionally, the HSBC Premier Credit Card offers extra perks, including complimentary access to airport lounges through LoungeKey, comprehensive travel insurance, and dedicated customer support.

For more detailed and up-to-date information, visit the official HSBC Premier Credit Card page.

Note: The fees and charges mentioned above are subject to change. It is advisable to check the latest terms and conditions directly on HSBC’s website or contact the bank for updated information.

Customer service

HSBC provides a range of customer service channels to ensure that any queries or issues regarding the HSBC Premier Credit Card are addressed promptly. Here are the official channels for assistance:

• Telephone: Contact HSBC Customer Service on 03457 404 404 for support with your credit card enquiries and related banking services.
• Website: Visit the official HSBC website to access detailed product information, FAQs, and online banking services.
• Email: For direct email support, you can reach out to [email protected], where a dedicated team is available to help with your questions.
• Online chat: Use the online chat service available on the HSBC website and within the HSBC Mobile Banking app for immediate assistance.

For those who prefer to use mobile applications, HSBC also provides convenient apps for both Android and iOS:

DOWNLOAD FOR ANDROID

DOWNLOAD FOR IOS