HSBC Premier Elite mastercard

philip1427

I am thinking of switching to HSBC premier. It seems to come with good avios earning rate which matches Amex! Does anyone have this card? If so, whats their thoughts on it? Also is the credit limit generous in comparison to other lenders?

Thanks in advance

planteria

i have a Premier current account, but i don't usually use HSBC as a credit card provider. Amex Cashback is still the best spending card on the market in my view.. and have Barclaycard Cashback as a backup, with that card and MBNA offering repeat BT deals too.

philip1427

Agreed Amex is still the best but unfortunately not many places accept it. Elite is a mastercard and seems to have a really good Avios earning rate

Ben8282

philip1427 wrote: »

Agreed Amex is still the best but unfortunately not many places accept it. Elite is a mastercard and seems to have a really good Avios earning rate

While it is true that some places don't accept Amex, unless you imagine that you are going to earn masses of Avios from spending in corner shops and suchlike, you will find that the places where you are likely to be spending the substantial amounts necessary to make it worthwhile to pay a £195 p.a. fee simply for airport lounge access and the rewards are quite likely to accept Amex.
IF you are already an HSBC Premier customer or meet the eligibility criteria to become one and transfer your current account to them, then only you can decide if it is worth £195 p.a. for the rewards and airport lounge access.
Also the redemption information regarding conversion of the rewards points to airmiles (airmiles is the term used by HSBC) is not very helpful unless you are actually in a position to do as suggested before applying for the card.

1. Log on to online banking
2. Choose World Elite within the My Accounts section. Then choose Points Balance from the right hand menu.
3. Select Continue under Airlines miles, on the list of Points Redemption Options or Join airline programme if you are not currently part of an airline programme
4. Select the airline you wish to redeem your Points with.
5. Insert your details, including your airline programme number and submit your request. Please allow up to 14 days for your request to be processed.

The statement that 'Every 2 points are worth the equivalent of 1 frequent flyer mile' is meaningless as not every airline's frequent flyer programme miles have an identical value.
You mention Avios but it is not even certain that you can redeem the rewards for Avios!
Airport lounge access is through Lounge Key, not Priority Pass. The Lounge Key website gives no information whatsoever with regard to the names and locations of their lounges without logging on.
This card offers no introductory promotional rates of any sort so is obviously intended for higher spenders who pay in full every month. Also be aware that although this card is marketed as a card designed with travelling in mind, foreign transactions are not FX fee free (Non-sterling transaction fee 2.99%). The extra reward points for foreign use will NOT compensate for this.
I don't find myself attracted to this card.

philip1427

Thank you for your input.

However I believe the cost covers itself for the first two years with an introductory bonus each year of 40,000 points which converts into 20,000 Avios which is in effect £200 worth of air travel. This, for me, cancels out the fee for the first two years as I would be spending that money on airfare anyway.

Additionally I was given a list of longekey longes in branch. It’s not too bad. But you are correct in saying it is not just so good priority pass.

On top of that the card comes with 5% off Airbnb bookings, £20 worth of Uber credit if you spend £500 on airfare and free Spotify premium.

And for me, I do plenty of hefty card transactions which don’t take Amex.

I believe with the extra benefits I can surpass the level of the fee for the first two years but I may have to reconsider my position after that time.

Kind regards

planteria

agreed.. it's much discussed elsewhere in this forum, but i find very few places that don't accept Amex. if i wasn't stoozing i would possibly only retain an Amex Cashback card, and in the odd place that won't accept that i'd pay cash or by debit card.

knightfox

Are there not benefits to using a credit card if the retailer where to go bust of issues with products So I would still retain at least one credit card.

planteria

fwiw i meant retaining a credit card: an Amex credit card. you are right, but i assume a charge card has a similar benefit:think:. a debit card as a back up in theory leaves someone wishing they'd bought with a credit card for a purchase.

nyermen

Re HSBC Premier - I have the Premier Master card with no fee (not the world elite which has a fee). I think the avios rate is the same between both of them.

Getting something back unlike the standard visa credit card is a bonus - I was offered premier because my company travel expenses were as much as my salary pushing me over the 75k earnings limit :P But it did change my credit card number of course, which meant updating everything.

Not sure avios are worth it these days though

shortcrust

I'm not sure they're doing enough to sell the exclusivity of the card. Perhaps HSBC Platinum Premier Elite? HSBC Platinum Select Premier Elite?

knightfox

I thought everyone on here knew about head for points

https://www.headforpoints.com/

I am not sure if I can post a link

They explain how best to use the avios points.