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Premier World Mastercard (Rewards Plus)


Pros and Cons

  • No Annual Fee


Electronic Wallet Service

Important Rates


Balance Transfer

Overseas spending



Earn Rates

RateCard TypeEarnsCondition
1.5 points for $1 spentMastercardUp to $10,000 monthlyeligible international purchases
1 point for $1 spentMastercardUp to $10,000 monthlyeligible domestic purchases
  • Free Domestic Travel Insurance
  • Free International Travel Insurance Cover lasts for 120 days per year
  • Free Supplementary Cards
  • Purchase Protection Insurance Covers with a $100 excess
  • Price Guarantee If you purchase personal goods in Australia and then find the same product advertised later at a cheaper price, you can claim back the difference if it is more than $75.
  • Extended Warranty There is a $200 excess for each claim
  • Rental Car Excess Insurance
  • Partner Discounts

Similar credit cards


The HSBC Premier World Mastercard is a rewards credit card that earns cardholders points in the HSBC Rewards Plus program. This credit card also includes complimentary domestic and international travel insurance, as well as additional insurance products such as extended warranty, transit accident, guaranteed pricing scheme and purchase protection.

This credit card has a moderately high minimum credit limit, as well as a moderately high interest rate, which can be expected from a rewards credit card. Surprisingly, this card also comes with no annual fee to speak of.

HSBC are also offering a moderate number of interest-free days each billing cycle, as well as the ability to add an additional cardholder at no extra cost. It also includes access to HSBC Instant Savings, which provides discounts and deals on restaurants, entertainment and more.

  • Earn rewards points
  • Complimentary insurances
  • No annual fee
  • Moderately high interest rate
  • Moderately high minimum credit limit
  • Late payment fee

Who is it good for?

The HSBC Premier World Mastercard could be a good option for existing HSBC customers, especially those who are already members of HSBC Rewards Plus. With a reasonably generous amount of points earned per dollar spent, there is a great incentive for existing members to start using this rewards credit card.

This card also comes with no annual fee attached, which is surprising for a rewards credit card. For customers who are in the habit of paying off their credit cards in full in each month, they could take advantage of all of the complimentary extras (including earning rewards points) and never have to pay a fee for the privilege.

This credit card does have a moderately high minimum credit limit, so it can be expected that an income requirement is part of the eligibility. This might make this credit card unsuitable for lower income earners.

What RateCity says

The HSBC Premier World Mastercard certainly has no shortage of perks and benefits. With rewards points earned for every dollar spent on eligible purchases, as well as a number of complimentary insurances, HSBC are providing customers with plenty of incentive to choose this card. The surprising lack of an annual fee also makes this card even more appealing.

However, the moderately high minimum credit limit could prove a little too tempting for some. Combined with this card’s moderately high interest rate, it could be very easy to stack up some credit card debt.

The HSBC Premier World Mastercard could certainly provide value to customers, especially those who are already members of HSBC Rewards Plus. But this card is more suitable for those who are in the habit of staying on top of their credit card bills.


To apply for the HSBC Premier World Mastercard, you must submit an enquiry form online, including your name and phone number. An HSBC relationship manager will then contact you within two business days to discuss your enquiry. When applying for a credit card in Australia, you must be at least 18 years old and also meet any other serviceability criteria, which might require you to meet certain benchmarks regarding your finances and employment. 

About the lender

HSBC Holdings is a British banking corporation, with operations in 67 countries worldwide. HSBC was established in 1865 in Hong Kong as the Hongkong and Shanghai Banking Corporation. Headquartered today in London, HSBC has over 3,900 offices worldwide and serves some 38 million customers around the world. Its products include credit cards and home loans. Customers in Australia can contact HSBC for customer service and credit card enquiries 24/7, with services available in English, Cantonese and Mandarin.

​Nick Bendel is a senior property and personal finance writer for RateCity, and an experienced journalist with numerous writing credits to his name. To date. He covers property, home loans, credit cards, superannuation and other bank products, and loves getting elbow-deep in the latest ABS, APRA and RBA data.​

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