Credit
New Benefits and Higher Annual Fee for HSBC Premier and Elite Credit Cards
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HSBC Premier and Elite Credit Cards
Over a month ago, HSBC announced changes to two products it offers to U.S. customers, the HSBC Premier credit card and the HSBC Elite credit card.
Both cards now come with higher signup bonuses, more points on everyday spending or travel, and other credits that can help offset the higher annual fees.
The HSBC Premier credit card now has an annual fee of $95 (no fee previously) and is offering a welcome bonus of 50,000 points for eligible card members. The HSBC Elite credit card has an annual fee of $495 (up from $395, but authorized users are free now) and is offering a welcome bonus of 60,000 points.
You can transfer rewards points to HSBC’s 13 rewards partners or use them to book flights, hotels and car rentals through the bank’s travel portal. Premier cardholders get a 25% bonus when redeeming through HSBC Travel and Elite cardholders get a 50% bonus.
There are also new designs that feature 100% recycled plastic for the HSBC Premier credit card and a distinctive metal design for the HSBC Elite credit card. Check out the full details below.
| HSBC Premier Benefits | HSBC Elite Benefits | |
|---|---|---|
| Intro offer | 50,000 points after $4,000 spend in three months | 60,000 points after $4,000 spend in three months |
| Rewards | 3x on gas and groceries 2x on travel 1x on everything else |
5x on travel 2x on dining 1x on everything else |
| Annual fee | $95 per year | $495 per year |
| Travel benefits | No foreign transaction fees
$85 statement credit towards Global Entry, TSA PreCheck, TSA PreCheck by CLEAR or Nexus once every 4.5 years. Rewards for miles Travel insurance and benefits |
No foreign transaction fees
$400 travel credit Complimentary airport lounge access with Priority Pass for cardholder and up to 2 guests, worth over $469 annually $120 statement credit towards Global Entry, TSA PreCheck, TSA PreCheck by CLEAR or Nexus once every 4.5 years Rewards for miles Travel insurance and benefits |
| Everyday benefits | Mastercard travel rewards
Monthly Lyft offer (“Take 3, get $5”) $3 monthly Peacock subscription credit (new only) $10 off second Instacart+ order each month and two free months (new only) $60 annual TV subscription service credit |
Mastercard travel rewards
Monthly Lyft offer (“Take 3, get $5”) $3 monthly Peacock subscription credit (new only) $10 off second Instacart+ order each month and two free months (new only) $120 annual rideshare credit |
| Peace of mind benefits | $600 per claim cell phone insurance
Mastercard ID theft protection Identify fraud expense reimbursement |
$800 per claim cell phone insurance
Mastercard ID theft protection Identity Fraud Expense Reimbursement |
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