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HSBC World Elite Mastercard®
Credit cards

HSBC World Elite Mastercard®

Updated 01.12.2022

About HSBC World Elite Mastercard

The HSBC World Elite Mastercard credit card is a convenient tool for travelers and shopping lovers. 

HSBC offers a welcome bonus and gives bonus points upon approval and use of the card for payments, bookings, and purchases. Anniversary bonuses are provided as well.

HSBC World Elite Mastercard features

HSBC World Elite Mastercard credit card is one of the reward cards, as it lets you earn, receive and redeem points. Occasionally, HSBC announces special offers that provide additional travel rewards.

New cardholders will receive 20,000 points, equivalent to $100 in travel value. In addition, the following 40,000 bonus points become available when the cardholder meets two conditions: first, they must spend $6,000 with the card, and second, it must be done within six months. 

20,000 points will be granted on the anniversary of card ownership.

Please note that the discount on the annual fee applies only to the primary cardholder.

This card has an annual fee of $149. The annual fee can be fully rebated for the first year. The interest rate on purchases is 19.9%. Cash advances and transfers are available to cardholders at a higher interest rate than purchases of goods and services: 22.9%.

Recognizing that the primary cardholder often needs more than one card to provide access to funds for family members or other trusted individuals, HSBC lets the clients open additional cards for an annual fee of $50 per card.

The residents of Quebec get a better offer: the welcome bonus is 110,000 points instead of the usual 80,000 points. This amount of points will be divided into three parts: 

  • the first 20,000 become available at the beginning of the experience as a cardholder of the World Elite MasterCard;

  • 70,000 points are available for active card users after six months;

  • 20,000 points are awarded on the anniversary as a thank you for choosing HSBC and this credit product.

The credit card allows you to get a seat upgrade, access to the airport lounge, and grants you fraud and theft insurance service, etc.

Health insurance coverage is an excellent bonus for travelers (it applies worldwide, except in Cuba).

The MasterCard pass, in partnership with DragonPass, covers 1,300 airport lounges for $32 per person per visit.

HSBC has a partnership with Agoda and Expedia booking services, allowing cardholders to get additional discounts and pay less for hotel stays.

Pros and cons

HSBC World Elite MasterCard offers several convenient options that might contribute to a decision to apply for the card:

  • 80,000 - 110,000 points welcome bonus;

  • an affordable annual fee (only $149);

  • the card is free of foreign transaction fees;

  • up to 3% cash back;

  • travel rewards;

  • insurance coverage;

  • 0 liability.

The HSBC World Elite MasterCard, like any banking product, has some drawbacks:

  • the welcome bonus is not the same for all provinces in Canada, and the card is only available to Canadian citizens and permanent residents;

  • approval is only available to customers with a good credit score;

  • additional cards are subject to fees.

Each customer should weigh the card's alternatives, advantages, and disadvantages and only apply to obtain a credit card that meets their needs and expectations.

How to apply for an HSBC World Elite Mastercard credit card

It is possible to apply for the card online or offline at HSBC, providing personal data, income information, contact details, and information on ID.

Before applying, it is essential to check the requirements:

  • Income requirement ($80,000 personal and $150,000 annual household income or $400,000 in assets managed by the applicant);

  • residency in Canada or Canadian citizenship, age of majority, and ability to sign legal documents and assume legal liability;

  • valid passport or other document ID.

What credit score is required to be approved for an HSBC World Elite Mastercard?

The applicant should have a good to very good credit score, which should be 760-900 points, according to the open sources.
Does an HSBC World Elite Mastercard have a foreign transaction fee?

No, according to the information provided by the bank, no foreign transaction fee is applied. 

Is a credit check needed to get approved for an HSBC World Elite MasterCard?According to the issuer's terms, the applicant should consent to a credit check; in addition to other factors such as income, a credit score of 760-900 points is required for a positive decision.
Rate
i

Effective interest rate on the product

19.99% - 22.99%

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