topic Re: HSBC Premier World Elite Mastercard in Credit Cards

HSBC Premier World Elite Mastercard

nuohlac — Sun, 27 Oct 2019 16:24:38 GMT

I have been looking at this card a lot over the last couple months; trying to decide if it is worth moving for in the spring when my scores recover. I have searched high and low and found very few posts about this card on the forums. Does anyone out there have this card? If so would you please share your opinions.

If any of the more detailed MyFICO-ers have opinions or benefits and points breakdowns would you share them please.

The Premier checking relationship need to open the card is not an issue. I can move 5k in monthly direct deposits there to meet the requirement.

Thank you.

Re: HSBC Premier World Elite Mastercard

Anonymous — Sun, 27 Oct 2019 19:33:51 GMT

@nuohlaclet us know if you do pursue the card and your findings!

@M_Smart007 time to weigh in?

Re: HSBC Premier World Elite Mastercard

VanderSnoot — Sun, 27 Oct 2019 17:31:19 GMT

If you search the forum, you'll find that HSBC has a couple of strikes against it: it's not well regarded as a lender, and its products are mediocre. I did a quick search and found a review from DoctorofCredit, who thought that if you already meet the relationship requirement, the benefits are worthwhile for the first year but not after (so cancel before the AF hits).

Re: HSBC Premier World Elite Mastercard

trant3 — Sun, 27 Oct 2019 18:32:05 GMT

this card and HSBC sucks, dont bother

Re: HSBC Premier World Elite Mastercard

MrCreditInternational — Sun, 27 Oct 2019 19:00:39 GMT

TL;DR: Not worth becoming premier for this card, but get the card if your getting premier regardless. The SUB for this card and the sub for becoming premier are really nice tho (750$ each).

I have this card and I like it, but I don't think it's the best. The SUB is nice, you get 100$ back on airlines, and another 100$ on uber and lyft, so the effective AF is 195$.

You only get 2 visits to airline lounges tho and afterwards it's 29$ I think. Their points are super easy to use through their portal: you log in and they show you flights and it's 1.5 cpp for air travel.

However, I truly believe that the CSR is way better and cheaper. I only got this card for the SUB and will downgrade it after a year. HSBC doesn't put all points into one portal like amex or chase or citi, so each card is separate. Also, the approval process can be a tiny bit annoying, but if you do it in a branch, your banker might be able to follow up with the underwriting department instead of you.

HSBC doesn't really care about your inquiries or new accounts for these cards as long as your a premier client and have a reasonable score (I think 700 or so, but might get it with 680). They use EQ for everything and CLI is usually HP.

I think that getting HSBC premier is worth it if you travel a lot to a country that also has HSBC there. Their services are amazing. I also think that you should get the other premier card and the advance card for the SUB if you end up getting this card.

Re: HSBC Premier World Elite Mastercard

MrCreditInternational — Sun, 27 Oct 2019 20:01:26 GMT

I also noticed that you already have another HSBC card in your signature, so approval for the new card should be easy (they might still ask for some documents tho)

UPDATE: I forgot that they only report to EQ and EX, but not TU.

Re: HSBC Premier World Elite Mastercard

M_Smart007 — Sun, 27 Oct 2019 20:00:12 GMT

@Anonymous wrote:
@nuohlaclet us know if you do pursue the card and your findings!

@M_Smart007 time to weigh in?

Had The Premier Checking, so SUB's for both .. plus I used it for My Daughters wedding in Italy.

so SUB was met in 7 days. card worked flawlessly, as some places do not take Amex.

Paid for Her Honeymoon in a different part of the world with amassed Amex Hilton points

1st year is pretty good. after that I will decide . also $50K agg. Util. padding.

Re: HSBC Premier World Elite Mastercard

M_Smart007 — Sun, 27 Oct 2019 20:01:10 GMT

@trant3 wrote:
this card and HSBC sucks, dont bother

Why so salty?

Re: HSBC Premier World Elite Mastercard

nuohlac — Sun, 27 Oct 2019 20:50:38 GMT

@MrCreditInternational wrote:
TLLDRR: Not worth becoming premier for this card, but get the card if your getting premier regardless. The SUB for this card and the sub for becoming premier are really nice tho (750$ each).

I have this card and I like it, but I don't think it's the best. The SUB is nice, you get 100$ back on airlines, and another 100$ onuberr andlyftt, so the effective AF is 195$.
You only get 2 visits to airline lounges tho and afterwards it's 29$ I think. Their points are super easy to use through their portal: you log in and they show you flights and it's 1.5cppp for air travel.
However, I truly believe that theCSRR is way better and cheaper. I only got this card for the SUB and will downgrade it after a year.HSBCC doesn't put all points into one portal likeamexx or chase orcitii, so each card is separate. Also, the approval process can be a tiny bit annoying, but if you do it in a branch, your banker might be able to follow up with the underwriting department instead of you.
HSBCC doesn't really care about your inquiries or new accounts for these cards as long as your a premier client and have a reasonable score (I think 700 or so, but might get it with 680). They use EQ for everything andCLII is usually HP.

I think that gettingHSBCC premier is worth it if you travel a lot to a country that also hasHSBCC there. Their services are amazing. I also think that you should get the other premier card and the advance card for the SUB if you end up getting this card.

All:

Thank you for the responses.

As always, there is more to the story. I own a home in Vancouver and have an English wife- so my money is spent in HSBC country (Canada & UK) 5 to 6 times a year on trips, then I have home maintenance. All of my banking that is not investment or mortgage is done with NFCU; so I have somewhat a need in this area. I tested the waters with HSBC last year and had no issues with the the application process or the service I received when I got their cash back card. While they do have lower limits that seems to be a thing around the world; no one extends large limits like American banks do. I would agree with you 100%, their service has been amazing in my experiences. I am just not into cash back and want to try something different. I cannot say I am looking to have a stable of HSBC cards I really just want to have a card that is going to work for me and give me a few perks along the way. The 15cpp is a good rate and I somewhat think a lot of the benefits start to repeat themselves once you get a few of the upper tier cards. Maybe, I will test drive it for a year and make a decision after that.

Re: HSBC Premier World Elite Mastercard

CreditCuriosity — Sun, 27 Oct 2019 21:43:44 GMT

Considered card for sub alone. Ya verification is kinda a PITA with them(might be better after first card?), but honestly once you get past that they have been pretty dang professional to deal with for me. Using the heck out of my Cash Rewards @ 3% return for first 10k once that is met will consider premier and opening the checking to get that bonus redirect 5k of direct deposit for a bit to collect get card eventually for sub and re-evaluate when time comes. Is the CSR better? Certainly is, but the bonus makes card appealing between checking/cc bonus for me

Re: HSBC Premier World Elite Mastercard

M_Smart007 — Sun, 27 Oct 2019 22:04:30 GMT

@CreditCuriosity wrote:
Considered card for sub alone. Ya verification is kinda a PITA with them(might be better after first card?), but honestly once you get past that they have been pretty dang professional to deal with for me. Using the heck out of my Cash Rewards @ 3% return for first 10k once that is met will consider premier and opening the checking to get that bonus redirect 5k of direct deposit for a bit to collect get card eventually for sub and re-evaluate when time comes. Is the CSR better? Certainly is, but the bonus makes card appealing between checking/cc bonus for me

Well Said!!!

Re: HSBC Premier World Elite Mastercard

randomguy1 — Thu, 14 Nov 2019 04:24:58 GMT

Can you guys expand on what kind of services they have in Asia?